Michel Wedel
Biographic Data
| ID | 117603 |
|---|---|
| NAME | Michel Wedel |
| GIVEN NAMES | Michel |
| FAMILY NAME | Wedel |
| SIGNATURE | WEDEL M |
| AFFILIATIONS | University of Maryland, College Park |
| ORCID | 0000-0002-1244-4923 |
| VERIFIED | Yes |
| TOTAL WORKS | 15 |
| TOTAL CITATIONS | 30 |
| AUTHOR COUNT | 14 |
| EDITOR COUNT | 1 |
| FIRST PUBLICATION YEAR | 1996 |
| LATEST PUBLICATION YEAR | 2021 |
| H-INDEX | 3 |
Online Advertising Suppresses Visual Competition during Planned Purchases
Online advertising can help consumers to implement their purchase intentions on shopping websites. This research tests the hypothesis that online advertising can speed-up product search by visually suppressing competing products rather than by enhancing the target product on websites that lack a systematic visual organization. First, a survey shows that searching for products on a shopping website after having clicked on an online ad is a common …
Nodule Detection with Eye Movements
Radiologists often miss nodules that may represent lung cancer on chest radiographs. We investigated whether eye movements collected during the search for lung nodules by large samples of laypeople may provide information that could assist radiologists in their detection. For that purpose, we developed a partially invisible Markov model with partially unobserved states and analyzed eye tracking data of over 100 laypeople who reviewed 14 chest X‐r…
Applications and Innovations of Eye‐movement Research in Judgment and Decision Making
Special Issue of the Journal of Behavioral Decision Making on “Applications and Innovations of Eye‐Movement Research in Judgment and Decision Making”
Peer Reviewed
Spatial Dependence and Heterogeneity in Bayesian Factor Analysis: A Cross-National Investigation of Schwartz Values
In this article, we present a Bayesian spatial factor analysis model. We extend previous work on confirmatory factor analysis by including geographically distributed latent variables and accounting for heterogeneity and spatial autocorrelation. The simulation study shows excellent recovery of the model parameters and demonstrates the consequences of ignoring spatial dependence. Specifically, we find inefficiency in the estimates of the factor sco…
The Stopping Power of Advertising: Measures and Effects of Visual Complexity
Advertising needs to capture consumers’ attention in likable ways, and the visual complexity of advertising plays a central role in this regard. Yet ideas about visual complexity effects conflict, and objective measures of complexity are rare. The authors distinguish two types of visual complexity, differentiate them from the difficulty of comprehending advertising, and propose objective measures for each. Advertisements are visually complex when…
Multi-Index Binary Response Analysis of Large Data Sets
We propose a multi-index binary response model for analyzing large databases (i.e., with many regressors). We combine many regressors into factors (or indexes) and then estimate the link function via parametric or nonparametric methods. Neither the estimation of factors nor the determination of the number of factors requires ex ante knowledge of the link between the response and regressors. Furthermore, applying perturbation theory, we furnish a …
Goal Control of Attention to Advertising: The Yarbus Implication
An eye-tracking experiment with four processing goals and a free-viewing condition reveals goal control of attention even during a few seconds of self-paced ad exposure. An ad-memorization goal enhanced attention to the body text, pictorial, and brand design objects. A brand-learning goal enhanced attention to the body text but simultaneously inhibited attention to the pictorial design. This supports the thesis that ad informativeness is goal con…
Attention Capture and Transfer in Advertising: Brand, Pictorial, and Text-Size Effects
The three key ad elements (brand, pictorial, and text) each have unique superiority effects on attention to advertisements, which are on par with many commonly held ideas in marketing practice. This is the main conclusion of an analysis of 1363 print advertisements tested with infrared eye-tracking methodology on more than 3600 consumers. The pictorial is superior in capturing attention, independent of its size. The text element best captures att…
An Empirical Bayes Procedure for Improving Individual-Level Estimates and Predictions From Finite Mixtures of Multinomial Logit Models
Unobserved heterogeneity in random utility choice models can be dealt with by specifying either a multinomial or a normal distribution of the coefficients, leading to finite mixture logit and mixed logit models. Focusing on the former, we show that individual-level estimates and predictions of finite mixtures estimated by maximizing the likelihood function can be improved through integration over the estimation error of the hyperparameters, using…
Exploratory Tobit Factor Analysis for Multivariate Censored Data
We propose Multivariate Tobit models with a factor structure on the covariance matrix. Such models are particularly useful in the exploratory analysis of multivariate censored data and the identification of latent variables from behavioral data. The factor structure provides a parsimonious representation of the censored data and reduces the dimensionality of the integration required in evaluating the likelihood. In addition, the factor model para…
A Multidimensional Scaling Model Accommodating Differential Stimulus Familiarity
We introduce a multidimensional scaling procedure that attempts to derive a spatial representation of stimuli unconfounded by the effect of subjects' degrees of familiarity with these stimuli. The proposed model assumes that stimulus unfamiliarity produces a tendency for a subject to anchor his/her dissimilarity judgments towards a reference value on the response scale. The input data needed to perform such analyses are the degree of stimulus fam…
A model for the effects of psychological pricing in Gabor–Granger price studies
Visual Attention to Advertising: A Segment-Level Analysis
We propose a methodology to study the effects of physical ad properties on consumers' visual attention to advertising that accounts for heterogeneity in these effects across consumers. In an illustrative experiment, we monitor consumers' eye movements during naturalistic exposure to a consumer magazine, in which experimentally designed ads are inserted. A latent class regression model accounting for heterogeneity across consumers through unobserv…
An Exponential-Family Multidimensional Scaling Mixture Methodology
A multidimensional scaling methodology (STUNMIX) for the analysis of subjects' preference/choice of stimuli that sets out to integrate the previous work in this area into a single framework, as well as to provide a variety of new options and models, is presented. Locations of the stimuli and the ideal points of derived segments of subjects on latent dimensions are estimated simultaneously. The methodology is formulated in the framework of the exp…
Goal Control of Attention to Advertising: The Yarbus Implication
An eye-tracking experiment with four processing goals and a free-viewing condition reveals goal control of attention even during a few seconds of self-paced ad exposure. An ad-memorization goal enhanced attention to the body text, pictorial, and brand design objects. A brand-learning goal enhanced attention to the body text but simultaneously inhibited attention to the pictorial design. This supports the thesis that ad informativeness is goal con…
Visual Attention to Advertising: A Segment-Level Analysis
We propose a methodology to study the effects of physical ad properties on consumers' visual attention to advertising that accounts for heterogeneity in these effects across consumers. In an illustrative experiment, we monitor consumers' eye movements during naturalistic exposure to a consumer magazine, in which experimentally designed ads are inserted. A latent class regression model accounting for heterogeneity across consumers through unobserv…
Applications and Innovations of Eye‐movement Research in Judgment and Decision Making
Online Advertising Suppresses Visual Competition during Planned Purchases
Online advertising can help consumers to implement their purchase intentions on shopping websites. This research tests the hypothesis that online advertising can speed-up product search by visually suppressing competing products rather than by enhancing the target product on websites that lack a systematic visual organization. First, a survey shows that searching for products on a shopping website after having clicked on an online ad is a common …
A model for the effects of psychological pricing in Gabor–Granger price studies
An Exponential-Family Multidimensional Scaling Mixture Methodology
A multidimensional scaling methodology (STUNMIX) for the analysis of subjects' preference/choice of stimuli that sets out to integrate the previous work in this area into a single framework, as well as to provide a variety of new options and models, is presented. Locations of the stimuli and the ideal points of derived segments of subjects on latent dimensions are estimated simultaneously. The methodology is formulated in the framework of the exp…
Visual Attention to Advertising: A Segment-Level Analysis
We propose a methodology to study the effects of physical ad properties on consumers' visual attention to advertising that accounts for heterogeneity in these effects across consumers. In an illustrative experiment, we monitor consumers' eye movements during naturalistic exposure to a consumer magazine, in which experimentally designed ads are inserted. A latent class regression model accounting for heterogeneity across consumers through unobserv…
A Multidimensional Scaling Model Accommodating Differential Stimulus Familiarity
We introduce a multidimensional scaling procedure that attempts to derive a spatial representation of stimuli unconfounded by the effect of subjects' degrees of familiarity with these stimuli. The proposed model assumes that stimulus unfamiliarity produces a tendency for a subject to anchor his/her dissimilarity judgments towards a reference value on the response scale. The input data needed to perform such analyses are the degree of stimulus fam…
A model for the effects of psychological pricing in Gabor–Granger price studies
Exploratory Tobit Factor Analysis for Multivariate Censored Data
We propose Multivariate Tobit models with a factor structure on the covariance matrix. Such models are particularly useful in the exploratory analysis of multivariate censored data and the identification of latent variables from behavioral data. The factor structure provides a parsimonious representation of the censored data and reduces the dimensionality of the integration required in evaluating the likelihood. In addition, the factor model para…
Attention Capture and Transfer in Advertising: Brand, Pictorial, and Text-Size Effects
The three key ad elements (brand, pictorial, and text) each have unique superiority effects on attention to advertisements, which are on par with many commonly held ideas in marketing practice. This is the main conclusion of an analysis of 1363 print advertisements tested with infrared eye-tracking methodology on more than 3600 consumers. The pictorial is superior in capturing attention, independent of its size. The text element best captures att…
An Empirical Bayes Procedure for Improving Individual-Level Estimates and Predictions From Finite Mixtures of Multinomial Logit Models
Unobserved heterogeneity in random utility choice models can be dealt with by specifying either a multinomial or a normal distribution of the coefficients, leading to finite mixture logit and mixed logit models. Focusing on the former, we show that individual-level estimates and predictions of finite mixtures estimated by maximizing the likelihood function can be improved through integration over the estimation error of the hyperparameters, using…
Goal Control of Attention to Advertising: The Yarbus Implication
An eye-tracking experiment with four processing goals and a free-viewing condition reveals goal control of attention even during a few seconds of self-paced ad exposure. An ad-memorization goal enhanced attention to the body text, pictorial, and brand design objects. A brand-learning goal enhanced attention to the body text but simultaneously inhibited attention to the pictorial design. This supports the thesis that ad informativeness is goal con…
The Stopping Power of Advertising: Measures and Effects of Visual Complexity
Advertising needs to capture consumers’ attention in likable ways, and the visual complexity of advertising plays a central role in this regard. Yet ideas about visual complexity effects conflict, and objective measures of complexity are rare. The authors distinguish two types of visual complexity, differentiate them from the difficulty of comprehending advertising, and propose objective measures for each. Advertisements are visually complex when…
Multi-Index Binary Response Analysis of Large Data Sets
We propose a multi-index binary response model for analyzing large databases (i.e., with many regressors). We combine many regressors into factors (or indexes) and then estimate the link function via parametric or nonparametric methods. Neither the estimation of factors nor the determination of the number of factors requires ex ante knowledge of the link between the response and regressors. Furthermore, applying perturbation theory, we furnish a …
Spatial Dependence and Heterogeneity in Bayesian Factor Analysis: A Cross-National Investigation of Schwartz Values
In this article, we present a Bayesian spatial factor analysis model. We extend previous work on confirmatory factor analysis by including geographically distributed latent variables and accounting for heterogeneity and spatial autocorrelation. The simulation study shows excellent recovery of the model parameters and demonstrates the consequences of ignoring spatial dependence. Specifically, we find inefficiency in the estimates of the factor sco…
Special Issue of the Journal of Behavioral Decision Making on “Applications and Innovations of Eye‐Movement Research in Judgment and Decision Making”
Peer Reviewed
Nodule Detection with Eye Movements
Radiologists often miss nodules that may represent lung cancer on chest radiographs. We investigated whether eye movements collected during the search for lung nodules by large samples of laypeople may provide information that could assist radiologists in their detection. For that purpose, we developed a partially invisible Markov model with partially unobserved states and analyzed eye tracking data of over 100 laypeople who reviewed 14 chest X‐r…
Applications and Innovations of Eye‐movement Research in Judgment and Decision Making
Online Advertising Suppresses Visual Competition during Planned Purchases
Online advertising can help consumers to implement their purchase intentions on shopping websites. This research tests the hypothesis that online advertising can speed-up product search by visually suppressing competing products rather than by enhancing the target product on websites that lack a systematic visual organization. First, a survey shows that searching for products on a shopping website after having clicked on an online ad is a common …
Computer Science (13 works) · Psychology (9 works) · Mathematics (8 works) · Econometrics (6 works) · Statistics (6 works) · Advertising (5 works) · Business (5 works) · Consumer Behavior in Brand Consumption and Identification (5 works) · Artificial Intelligence (4 works) · Behavioral Health and Interventions (4 works)