Eric J. Johnson

Eric J. Johnson is a professor of marketing at Columbia University where he is the inaugural holder of the Norman Eig Chair of Business. He is the Co-Director for the Center for Decision Sciences.

This article is about the marketing professor. For the actor, see Eric Johnson (actor).

Education

Johnson received a B.A. in Human Communication from Rutgers University in 1976 and an M.S. and PhD in Psychology from Carnegie-Mellon University in 1978 and 1980 respectively. After completing his degree, he was a National Science Foundation post-doctoral fellow at Stanford University for one year.

Career

He began his professional career at Carnegie-Mellon University in 1981 as an Assistant Professor of Industrial Administration at the Graduate School of Industrial Administration. He served as an Associate Professor there from 1984-1987. Between 1984 and 1985, he was a visiting scholar at MIT Sloan School of Management. From 1992 to 1999, he served as a Professor of Marketing, Decision Science and Psychology at the University of Pennsylvania and was the inaugural holder of the David W. Hauck Chair in Marketing. In 1999, he joined Columbia University as a Professor of Business.[1]

Johnson's research explores the interface between Behavioral Decision Research and Economics. He looks at the decisions made by consumers and managers, and their implications for public policy, markets and marketing. Johnson has explored a wide range of topics, including how the way options are presented to decision-makers affect their choices in areas such as organ donation, the choice of environmentally friendly products, and investments. He is one of the originally developers of Query Theory and has done work on how memory informs preferences. He has also done work on process tracing and was one of the co-developers of Mouselab Web, a tool used to monitor decision makers information acquisition on the web.[2] Recently, Johnson's work has focused on choice architecture and its influences on public policy.

He is well known for his research on "adaptive decision making" wherein people change the mental processes by which they "decide to decide", depending on task and context effects.[3][4]

Subsequently, Johnson became a leading authority on cognitive psychology of online shopping. Conventional wisdom held that lowered search costs on the internet would lead to dramatically higher search and more price sensitivity. Johnson's research showed that most people searched relatively few sites in a given month[5][6] Other authorities claimed that the goal for online retail sites was to make them "sticky" so shoppers spent a considerable amount of time at those sites. Johnson and colleagues showed that consumers develop loyalty for sites where it is easy to learn to become increasingly efficient at getting in and accomplishing one's desired shopping tasks.[7]

In his more recent research, Johnson has studied the cognitive psychology of consumer financial decisions, explaining how cognitive aging affects the quality of financial decisions. [8][9] In the domain of mortgage choice, he has studied the behavioral economics of coping with underwater mortgages [10] and the failure to refinance a mortgage when it is clearly in the consumer's financial interest.[11]

Johnson served as an Associate Editor of the Journal of Consumer Psychology, and is currently a member of several editorial boards as well as the Senior Editor for Decision Sciences at Behavioral Science and Policy and an Editor at Frontiers in Decision Neuroscience.

Writing

He has co-authored two books: Decision Research: A Field Guide[12] and The Adaptive Decision-Maker.[13] His work has appeared extensively in both news and scholarly journals, and he is one of the most highly cited scholars in Business and Economics.

Awards and honors

In 2009, he was awarded an honorary doctorate in Economics from the University of St. Gallen for "trail-blazing work in the field of Behavioral Economics” [14]

In 2013, he was named a fellow of the Association for Consumer Research[15].

gollark: I think they actually do fractional distillation in industry, which would be... probably hard to DIY?
gollark: I hope not!
gollark: You only *ran this* once.
gollark: You lost my entry, helloboious one.
gollark: Actually, I have no idea how to use cryptography™ for this without a trusted person. It would probably be possible with accursed zero knowledge proof stuff.

References
  1. http://www8.gsb.columbia.edu/cbs-directory/detail/ejj3
  2. "Mouselab WEB". mouselabweb.org.
  3. Payne, John W., James R. Bettman, and Eric J. Johnson. "Adaptive strategy selection in decision making." Journal of experimental psychology: Learning, Memory, and Cognition 14, no. 3 (1988): 534.
  4. Johnson, Eric J., and John W. Payne. "Effort and accuracy in choice." Management science 31, no. 4 (1985): 395-414. Harvard
  5. Johnson, Eric J., Wendy W. Moe, Peter S. Fader, Steven Bellman, and Gerald L. Lohse. "On the depth and dynamics of online search behavior." Management science 50, no. 3 (2004): 299-308.
  6. Lohse, Gerald, Steven Bellman, and Eric J. Johnson. "Consumer buying behavior on the Internet: Findings from panel data." Journal of interactive Marketing 14, no. 1 (2000): 15-29.
  7. Johnson, Eric J., Steven Bellman, and Gerald L. Lohse. "Cognitive lock-in and the power law of practice." Journal of Marketing 67, no. 2 (2003): 62-75.
  8. Li, Ye, Martine Baldassi, Eric J. Johnson, and Elke U. Weber. "Complementary cognitive capabilities, economic decision making, and aging." Psychology and aging 28, no. 3 (2013): 595.
  9. Li, Ye, Jie Gao, A. Zeynep Enkavi, Lisa Zaval, Elke U. Weber, and Eric J. Johnson. "Sound credit scores and financial decisions despite cognitive aging." Proceedings of the National Academy of Sciences 112, no. 1 (2015): 65-69.
  10. Atlas, Stephen A., Eric J. Johnson, and John W. Payne. "Time preferences and mortgage choice." Journal of Marketing Research 54, no. 3 (2017): 415-429.
  11. Johnson, Eric J., Stephan Meier, and Olivier Toubia. "What’s the catch? Suspicion of bank motives and sluggish refinancing." The Review of Financial Studies 32, no. 2 (2019): 467-495.
  12. Carroll, J., & Johnson, E. (1990). Decision research: A field guide. Newbury Park: Sage Publications.
  13. Payne, J., Bettman, J., & Johnson, E. (1993). The adaptive decision maker. Cambridge: Cambridge University Press.
  14. "Honorary Doctor of Economics 2008"..
  15. https://www.acrwebsite.org/web/core-activities/acr-fellow-awardees.aspx
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