Topic: The Rank Length Effect

Speaker: Cai Fengyan, Antai College of Economics & Management,Shanghai Jiao Tong University

Time: June 26, 2024, 10:00 AM

Venue: EMS 222

Abstract: Rank lists vary on the number of items ranked on the list (e.g., Top 5 vs. Top 20 movies on IMDb), that is, the rank length. Across ten studies, including both field and laboratory experiments, we examine the influence of rank length on evaluations, willingness to pay, and choice. We document a novel rank length effect—the same ranked items elicit more positive judgments when the rank length is longer (vs. shorter), although the differences in judgments between the ranked items are smaller. This effect is driven by consumers’ tendency to narrowly focus on the rank list and the manner in which they map the rank list onto their mental number line. The rank length effect extends to willingness to pay and to choice. We explore three different kinds of choice contexts, discuss implications, and offer suggestions for future research.

Guest Bio: Cai Fengyan, a professor and doctoral supervisor at the Antai College of Economics & Management,Shanghai Jiao Tong University, and recipient of the National Talent Project Fund. She previously served as an associate editor for Psychology & Marketing and is currently on the editorial board of the Journal of Business Research, Psychology & Marketing, and the Journal of Marketing Science. Her primary research area is consumer information processing, with applications in areas such as consumer prosocial behavior, green consumption behavior, pricing and promotion, and cross-cultural marketing. She has published over 10 papers in international academic journals such as the Journal of Marketing Research, Journal of Marketing, Journal of Consumer Research, Psychological Science, Journal of Consumer Psychology, and the Journal of The Academy of Marketing Science. Her research has been covered by media outlets including The New York Times and BBC News. She has received the Best Paper Award from the Association for Consumer Research, the first prize for outstanding research achievements in philosophy and social sciences from Shanghai, and the third prize for outstanding research achievements in humanities and social sciences from the Ministry of Education.