Claire I. Tsai
Claire Tsai is an Associate Professor of Marketing and a co-founder of the Behavioral Economics in Action Research Cluster at the University of Toronto's Rotman School of Management. She has worked in financial services in New York, Taipei and Hong Kong. She adopts a behavioural economics approach in studying decision making in areas of financial decisions, food consumption and well-being. She studies overconfidence and how this bias systematically influences judgments and decision making. She also studies the science and economics of happiness, which she terms Hedonomics. Her work appears in leading marketing and psychology journals, including Journal of Consumer Research and Psychological Science. Her work often receives featured coverage in popular media outlets including the Wall Street Journal (Week in Ideas), Time.com, Globe and Mail, CBC News, and Harvard Business Review. Speaking engagements include the Latin American Financial Education Congress and Ontario Securities Commission.
|2014 (winter) ||Visiting Scholar (Sabbatical); UCLA
|2013 (fall) ||Visiting Scholar (Sabbatical); Columbia University
|2013 - present ||Associate Professor of Marketing (with tenure); University of Toronto
|2007 - 2013 ||Assistant Professor of Marketing; University of Toronto
|2001 - 2002 ||Associate; Deutsche Bank AG., Investment Banking Group
|2000 ||Associate; Lehman Brothers, Investment Banking Group
|1998 - 1999 ||Analyst; Concord Securities Co., Ltd.; Investment Banking Group
Selected Publications - Papers
- How Price Promotions Influence Postpurchase Consumption Experience over Time; Lee, Leonard and Claire I. Tsai; Journal of Consumer Research; Issue: 40(5); 2013; Pages: 943-959 (equal contribution).
- Psychological Distance and Subjective Experience: How Distancing Reduces Feeling of Difficulty; Thomas, Manoj and Claire I. Tsai; Journal of Consumer Research; Issue: 39(2); 2012; Pages: 341-359 (equal contribution).
- Over- Predicting and Under-Profiting in Pricing Decisions; Shen, Luxi, Christopher K. Hsee, Qingsheng Wu, and Claire I. Tsai; Journal of Behavioral Decision Making; Issue: 25; 2012; Pages: 512-521
- Predicting Consumption Time: The Role of Event Valence and Unpacking,; Tsai, Claire I., and Min Zhao; Journal of Consumer Research; Issue: 38(3); 2011; Pages: 459-473.
- No pain, no gain? How construal level and fluency affect consumer confidence,; Tsai, Claire I., and Ann L. McGill; Journal of Consumer Research; Issue: 37(5); 2011; Pages: 807-821.
- When Does Feeling of Fluency Matter? How Abstract and Concrete Thinking Influence Fluency Effects; Tsai, Claire I., and Manoj Thomas; Psychological Science; Issue: 22(3); 2011; Pages: 348-354 (equal contribution).
- The Effects of Duration Knowledge on Forecasted vs. Actual Affective Experience; Zhao, Min, and Claire I. Tsai (equal contribution); Journal of Consumer Research; Issue: 38(3); 2011; Pages: 525-534 (equal contribution).
- A behavioral account of compensation awarding decisions,; Tsai, Claire I. and Christopher K. Hsee; Journal of Behavioral Decision Making; Issue: 22(2); 2009; Pages: 138-152.
- Effects of amount of information on judgment accuracy and confidence,; Tsai, Claire I., Joshua Klayman, and Reid Hastie; Organizational Behavior and Human Decision Processes; Issue: 107(2); 2008; Pages: 97-105 (Lead article).
Selected Publications - Books and Chapters
- Hedonomics: Why People Do Not Buy What They Enjoy the Most; Ch 6 in Flux: The Evolving Role of the Marketing Manager, David Soberman and Dilip Soman (eds); Tsai, Claire; University of Toronto Press; 2012; Pages: 108-131
- Hedonomics in consumer behavior,; Hsee, Christopher K. and Claire I. Tsai; Handbook of Consumer Psychology, C. P. Haugtvedt, P. M. Herr, and F. R. Kardes (eds.), Mahwah, NJ: Erlbaum; 2008; Pages: 639-658.
- Hedonomics in Consumer Behavior (Top 20 Best Selling Rotman Magazine articles through HBR, 2009, 2011-13); Tsai, Claire and Christopher Hsee; Rotman Magazine; Issue: Spring; 2008; Pages: 44-49
- How Price Promotions Influence Postpurchase Consumption Experience over Time; USC; 2014
- Behavioral Economics and Financial Decision Making; University of Chicago Alumni Club (Asia Pacific); 2014
- The Facebook Effect: Are Judgments Influenced by the Knowledge that Others Are Also Evaluating; UCLA; 2014
- Magnitude and Hedonic Consumption Experiences Over Time; Columbia University; 2013
- How Psychological Distance Influences Metacognitive Experiences: The Interpretation, Weighting, and Value; NYU; 2013
- Behavioral Economics and Financial Decision Making; Ontario Securities Commission; 2013
- Behavioral Economics, Nudge, and Financial Decisions; IV Latin American Financial Education Congress, organized by Asobancaria, the Latin-American Banking Federation (Felaban) and Child and Youth Finance International; 2013
Honors and Awards
|2014 ||Dean's Award for Excellence in Research; Rotman School of Management
|2013 ||New Paths to Purpose Research Grant (with Dilip Soman); John Templeton Foundation
|2010 ||Standard Research Grant; Social Sciences and Humanities Research Council of Canada
|2009, 2012, 2013 ||Yearly Excellence in Teaching Awards; Rotman School of Management
|2009, 2011, 2012, 2013 ||Semiannual Top 20 Best Selling Rotman Magazine articles through Harvard Business Review; Tsai, Claire and Christopher Hsee; Hedonomics in Consumer Behaviour
|2008 ||Integrative Thinking Research Network Seed Grant; Desautels Centre for Integrative Thinking
|2007 ||Connaught Start-up Grant; University of Toronto
|2002-2006 ||Research Fellowship; University of Chicago, Booth School of Business
|Association for Consumer Research (ACR)
|Association for Psychological Science (APS)
|Society of Consumer Psychology (SCP)
|Society for Judgment and Decision Making (SJDM)
Research and Teaching Interests
Research: Happiness, pricing and promotions, overconfidence, and metacognitive experience.
Managing Customer Value (MBA core)
Marketing Management (undergraduate core)
Integrated Communications Strategy
Principles of Marketing
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