Aaron R. Brough EDUCATION. Ph.D., Marketing (expected) M.S., Marketing B.S., Business Management, magna cum laude 2003 RESEARCH INTERESTS

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1 Aaron R. Brough Kellogg School of Management, Northwestern University Leverone Hall Room 4101, 2001 Sheridan Road, Evanston, IL Cell: Fax: EDUCATION Ph.D., Marketing (expected) 2011 Kellogg School of Management Northwestern University M.S., Marketing 2008 Kellogg School of Management Northwestern University B.S., Business Management, magna cum laude 2003 Marriott School of Management Brigham Young University RESEARCH INTERESTS Judgment and decision-making Information processing Consumers perceptions of value ACADEMIC HONORS AND AWARDS Travel grant, London Business School, Transatlantic Doctoral Conference, 2010 Travel grant, Whitebox Advisors, Yale School of Management Fifth Annual Graduate Student Behavioral Science Conference, 2009 Travel grant, Northwestern University Graduate School, 2009 Travel grant, Whitebox Advisors, Yale School of Management Third Annual Graduate Student Behavioral Science Conference, 2007 Graduate Fellowship, Northwestern University, Outstanding Undergraduate Student of the Year, Marriott School of Management, 2003 Research and Creative Activities Scholarship, Brigham Young University, Dean s List, Marriott School of Management, Brigham Young University Honors Program, Heritage Academic Scholarship, Brigham Young University, Utah State Winner, KSL/Deseret News Sterling Scholar Award, 1998 Eagle Scout Award, Boy Scouts of America, 1993

2 DISSERTATION Title: When Opposites Detract: The Impact of Categorization on Consumers Willingness to Pay for Product Combinations Committee: Alexander Chernev (chair), Bobby Calder, Alice Tybout, and Adam Galinsky Abstract: This research examines how consumers form value judgments of combinations of high- and low-priced items. Prior findings suggest that value judgments are typically additive, such that when each bundled item has positive utility, the overall value of the bundle is at least as great as the value of any individual item it contains. In contrast, this research documents that combining items in different price tiers can lead not only to additive, but also to subtractive judgments, in which consumers are willing to pay less for a bundle than for one of the items it contains. This subtraction effect is attributed to the interplay between categorical and numeric representations of value when items classified into opposing categories are combined. Four empirical studies lend converging support to the proposition that categorization can lead to subtractive judgments. PAPERS UNDER REVIEW When Opposites Detract: The Impact of Categorization on Consumers Willingness to Pay for Product Combinations (with Alexander Chernev; under review at the Journal of Marketing Research) (abstract above) When Low Bids Win: Non-Price Competition among Buyers in Secondary Markets (with Mathew S. Isaac; under review at the Journal of Behavioral Decision Making) Consumers often dispose of used products by selling them in secondary markets (e.g., classified ads, Craigslist, ebay). In such transactions, interested buyers generally compete on the basis of price (i.e., high bids win). However, we argue that non-price dimensions, such as the way in which a prospective buyer intends to use the product following the transaction, can also influence sellers decisions even in one-time transactions with relatively anonymous buyers. Across five studies, we demonstrate that because sellers have preferences for posttransactional product usage, buyers whose usage intentions align with sellers preferences may obtain discounts and successfully compete with higher bidders. We further demonstrate that buyers whose usage intentions misalign with sellers preferences may be charged a higher price. We attribute these results to product attachment and show that the effect of buyer usage intent on sellers decisions is more pronounced for hedonic than utilitarian products. 2

3 SELECTED RESEARCH IN PROGRESS Wealthy Wasters: How Wasteful Behavior Impacts Financial Decisions (with Mathew S. Isaac; manuscript in preparation) How does discarding a product before its residual value is fully exhausted impact subsequent financial decisions? This research documents that participants randomly assigned to perform a wasteful act were more likely to make financially suboptimal decisions in an unrelated transaction. Specifically, wasters were more likely to offer prices above market value when buying a new product and accept prices below market value when selling a used product. Drawing upon self-perception theory, we propose that wasteful behavior can inflate consumers perceptions of their own wealth and justify a tendency to buy high and sell low. Satisficing and Maximizing Strategies in Consumer Choice (with Alexander Chernev; manuscript in preparation) When presented with multiple decision alternatives, consumers often prefer to evaluate all available options in order to be confident that they have maximized the accuracy of their choice. We show, however, that despite their preference to consider each option, consumers who use a satisficing strategy and make a decision without examining every alternative tend to be more confident in their decisions. We attribute this paradox to a shift in decision focus from optimizing the decision strategy to optimizing the chosen option. Motivated Perception and the Appeal of Hidden Products (data collection in progress) Can compatibility between a consumer s goal status and a product s perceptual status enhance product attractiveness? This research suggests that products related to recently-fulfilled goals are evaluated more favorably when hidden than when visible. For example, I find that although consumers prefer to drink from a transparent cup when thirsty, they choose an opaque cup when satiated. I attribute this effect to motivated perception, in which concealing products that are instrumental to a satiated goal enables consumers to focus on active goals. The Category Size Bias: Psychological Partitioning in Probability Judgments (with Mathew S. Isaac; data collection in progress) This research documents that people often make erroneous probability judgments because they utilize irrelevant information about category size. For example, we find that participants overestimate the likelihood of drawing a particular item from a fixed set of items if the target belongs to a large versus small subgroup within the set (e.g., based on an irrelevant attribute such as color). This category size bias is attenuated if items in the set are classified into equally-sized subgroups. We argue that the bias occurs because categorical boundaries blur the individual identity of grouped items such that the target takes on characteristics of the entire subgroup. As a result, the perceived probability of selecting the target increases when its subgroup is overrepresented within the set. 3

4 CONFERENCE PUBLICATIONS AND PROCEEDINGS Brough, Aaron R. and Mathew S. Isaac (2010), Consumer Disposal Behavior: How Sellers of Used Goods are Influenced by Buyer Usage Intentions, in Advances in Consumer Psychology, eds. Margaret Meloy and Adam Duhachek, St. Pete Beach, FL: Society for Consumer Psychology. Brough, Aaron and Mathew Isaac (2010), " When Products Are Valued More but Sold for Less: The Impact of Waste Aversion on Value Judgments, in Advances in Consumer Research, Volume 37, eds. Margaret C. Campbell, Jeff Inman, and Rik Peters, Duluth, MN: Association for Consumer Research. Brough, Aaron and Alexander Chernev (2009), Find and Keep or Keep Looking and Weep: Satisficing and Maximizing Strategies in Consumer Choice, in Advances in Consumer Psychology, Volume 1, eds. Alexander Chernev, Michal Herzenstein and Shailendra Pratap Jain, San Diego, CA: Society for Consumer Psychology. Brough, Aaron (2009), "The Appeal of Hidden Products, in Advances in Consumer Research, Volume 36, eds. Ann L. McGill and Sharon Shavitt, Duluth, MN: Association for Consumer Research. Brough, Aaron, Mathew Isaac, and Alexander Chernev (2008), "The Sticky Choice Bias in Sequential Decision-Making, in Advances in Consumer Research, Volume 35, eds. Angela Y. Lee and Dilip Soman, Duluth, MN: Association for Consumer Research. INVITED PRESENTATIONS Brough, A. R. and Chernev, A., When Payless Meets Prada: Subtractive Judgments in Evaluating Product Bundles. Association for Consumer Research Conference, Jacksonville, FL. October, Brough, A. R. and Isaac, M. S. When Low Bids Win: Non-Price Competition among Buyers in Secondary Markets. Association for Consumer Research Conference, Jacksonville, FL. October, Brough, A. R. and Isaac, M. S. When Low Bids Win: Non-Price Competition among Buyers in Secondary Markets. 10 th Transatlantic Doctoral Conference at the London Business School, London, United Kingdom. May, Brough, A. R. and Isaac, M. S. Consumer Disposal Behavior: How Sellers of Used Goods are Influenced by Buyer Usage Intentions. Society for Consumer Psychology Conference, St. Pete Beach, FL. February,

5 INVITED PRESENTATIONS (continued) Brough, A. R. and Isaac, M. S. Disposal Biases: Why Sellers of Used Goods May Not Choose the Highest Bidder. Society for Judgment and Decision Making Conference, Boston, MA. November, Brough, A. R. and Chernev, A. Categorical Thinking and Individuals Willingness to Pay for Items in Different Price Tiers. Society for Judgment and Decision Making Conference, Boston, MA. November, Brough, A. R. and Isaac, M. S. When Products Are Valued More but Sold for Less: The Impact of Waste Aversion on Value Judgments. Association for Consumer Research Conference, Pittsburgh, PA. October, Brough, A. R. and Isaac, M. S. When Products Are Valued More but Sold for Less: The Impact of Waste Aversion on Value Judgments. 5 th Annual Whitebox Advisors Graduate Student Behavioral Science Conference at Yale University, New Haven, CT. April, Brough, A. R. and Isaac, M.S. When Products Are Valued More but Sold for Less: The Impact of Waste Aversion on Value Judgments. Kellogg on Attitudes, Motivation, and Processing Seminar Series, Evanston, IL. April, Brough, A. R. and Chernev, A. Find and Keep or Keep Looking and Weep: Satisficing and Maximizing Strategies in Consumer Choice. Society for Consumer Psychology Conference, San Diego, CA. February, Brough, A. R. The Appeal of Hidden Products. Association for Consumer Research Conference, San Francisco, CA. October, Brough, A. R. The Appeal of Hidden Products. Kellogg on Attitudes, Motivation, and Processing Seminar Series, Evanston, IL. October, Brough, A. R., Isaac, M. S., and Chernev, A. The Sticky Choice Bias in Sequential Decision- Making. Association for Consumer Research Conference, Memphis, TN. October, CHAIRED SYMPOSIA Expensive or Cheap? Reference Prices and Consumer Perception of Value, Association for Consumer Research Conference, Jacksonville, FL. October, Consumer Disposal Behavior: Retaining, Selling, Discarding, or Donating Used Products, Association for Consumer Research Conference, Jacksonville, FL. October,

6 PROFESSIONAL EXPERIENCE Expert Witness True Apparel Company Boston, Massachusetts Produced key evidence in successful settlement of a Federal trademark litigation case Expert report based on survey data collected from over 500 consumers of fashion apparel Senior Consultant / Consultant / Research Analyst Marketing and Planning Systems Waltham, Massachusetts Managed primary quantitative market research projects for Fortune 100 companies Clients included American Express, Coca-Cola, Disney, IBM, Microsoft, and Novartis Market Research Consultant 2003 Brigham Young University Bookstore Provo, Utah Directed focus groups, designed questionnaires, and analyzed store layout Benchmarked departments of the BYU Bookstore against competitors Research Assistant Marriott School of Management Provo, Utah Collaborated with faculty members on academic research Research topics included service recovery and knowledge management TEACHING EXPERIENCE Guest Lecturer 2009 Executive Management Program, Northwestern University Evanston, Illinois Guest Lecturer 2009 Undergraduate Program, Loyola University Chicago, Illinois Teaching Assistant (Alexander Chernev, Brian Sternthal, and Derek Rucker) Kellogg School of Management Evanston, Illinois Master Teacher Certification 2002 Foundations of Leadership Conference, Brigham Young University Provo, Utah Full-Time Missionary (Spanish-speaking) The Church of Jesus Christ of Latter-day Saints Panama City, Panama 6

7 SERVICE Professional Service Ad-hoc reviewer, Journal of Industrial Economics (2010) Reviewer, Society for Consumer Psychology Annual Conference (2009) Reviewer, Association for Consumer Research Annual Conference (2007 present) Departmental Service Coordinator, Undergraduate Subject Pool, Kellogg Marketing Department ( ) Co-Chair, Doctoral Colloquia Series, Kellogg Marketing Department ( ) Honors Student Advisory Council, Brigham Young University ( ) DOCTORAL COURSEWORK Marketing Behavioral Decision Theory Consumer Behavior Consumer Information Processing I Consumer Information Processing II Philosophy of Research Marketing Strategy Trust, Deception, and Authenticity Psychology Theories of Social Psychology The Self Social Cognition Self-Regulation Perception Higher-Level Cognitive Psychology Motivated Thinking Discourse Processes Cognitive Science Methodology Analytic and Empirical Modeling Research Designs Research Methods Fundamental Statistics Statistics and Experimental Design Structural Equation Modeling Multivariate Analysis Alexander Chernev Angela Lee Brian Sternthal / Alice Tybout Miguel Brendl Bobby Calder Greg Carpenter Kent Grayson Galen Bodenhausen Wendi Gardner Dan Molden Eli Finkel Satoru Suzuki Lance Rips Dan Molden Sid Horton Andrew Ortony Anne Coughlan / Eric Anderson Tom Cook Amy Cuddy Satoru Suzuki David Smith Kent Grayson Lakshman Krishnamurthi 7