Michal Herzenstein

Associate Professor of Marketing

Department: Business Administration
Campus Address: 319 Alfred Lerner Hall
Newark, DE 19716
Phone: (302)831-1775


Michal Herzenstein studies consumer decision making and is especially interested in consumer financial decision making. She holds a BS in economics, statistics, and operations research and an MBA in marketing from Tel Aviv University, and a PhD in marketing from the University of Rochester. Before her PhD studies she worked as a consultant in a marketing consulting firm in Israel. Her papers were published at the Journal of Marketing Research, Journal of Consumer Psychology, and Organizational Behavior and Human Decision Processes, among others.



  • Ph.D. - marketing, University of Rochester, 2006
  • M.S. - applied economics, University of Rochester, 2004
  • M.B.A. - marketing, Recanati Graduate Business School, Tel Aviv University, 1997
  • B.A. - economics, statistics and operations research, Tel Aviv University, 1994
  • Curriculum Vita



Selected publications

  • Herzenstein, Michal, and Steve Hoeffler (2016), "Of Clouds and Zombies: How and When Analogical Learning Improves Evaluations of Really New Products," Journal of Consumer Psychology (forthcoming).
  • Herzenstein, Michal, Sharon Horsky, and Steven S. Posavac (2015), "Living with Terrorism or Withdrawing in Terror: Perceived Control and Consumer Avoidance," Journal of Consumer Behaviour, 14 (4), 228-236.
  • Hoeffler, Steve, Michal Herzenstein, and Tamar Ginzburg (2015), “Optimal Design for Radically New Products” in Griffin, Swan, and Luchs (Ed.), Design and Design Thinking, (forthcoming).
  • Hoeffler, Steve and Michal Herzenstein (2012), “Optimal Marketing for Really New Products: Using a Consumer Perspective to Improve Communications,” in Steven S. Posavac (Ed.), Cracking the Code: Leveraging Consumer Psychology to Drive Profitability, Armonk, NY: M. E. Sharpe.
  • Herzenstein, Michal, Scott Sonenshein, and Utpal M. Dholakia (2011) “Tell me a good story and I may lend you my money: The role of narratives in peer-to-peer lending decisions” Journal of Marketing Research special issue on consumer financial decision making, 48 (special issue), S138-S149.
  • Sonenshein Scott, Michal Herzenstein, and Utpal M. Dholakia (2011), “How accounts shape lending decisions through fostering trustworthiness,” Organizational Behavior and Human Decision Processes, 115, 69-84.
  • Herzenstein, Michal, Utpal M. Dholakia, and Rick L. Andrews (2011), “Strategic Bidding Behavior in Peer-to-Peer Loan Auctions,” Journal of Interactive Marketing, 25, 27-36.
  • Posavac, Steven S., Michal Herzenstein, Frank R. Kardes, and Suresh Sundaram (2010), “Profits and Halos: The Role of Firm Profitability Information in Consumer Inference,” Journal of Consumer Psychology, 20 (July), 327-337
  • Herzenstein, Michal, Steven S. Posavac, and J. Joško Brakus (2007), “Adoption of New and Really New Products: The Effects of Self-Regulation Systems and Risk Salience,” Journal of Marketing Research, 44(2), 251-260.

Awards & Honors

  • Outstanding faculty Award - Department of Business Administration, 2014
  • University of Delaware Excellence in Teaching Award, 2013
  • Outstanding Research Award - Department of Business Administration, 2012
  • Co-Chair of the second largest conference of the field, Society for Consumer Psychology, 2009
  • International Research Award recipient, University of Delaware, 2011 ($10,000)
  • General University Research (GUR) Grant recipient, University of Delaware, 2008 ($6,000)
  • International Travel Award, University of Delaware, 2007 ($500), 2012 ($750)
  • AMA-Sheth Doctoral Consortium Fellow, 2005
  • Society for Marketing Advances Dissertation Competition finalist, 2004
  • Doctoral fellowship in marketing, University of Rochester, 2001-2006


Michal teaches the Introduction to Marketing class and consumer behavior class for both honors and non-honors students. Check out my course evaluations

The Lerner College is home to a state-of-the-art financial trading facility, the $1.5 million student-led Blue Hen Investment Club, a student-managed restaurant and hotel, a high-technology development center of a global bank and a start-up experience for students with new business ideas.

Undergraduate scholarships, made possible through the generosity of alumni and friends, enable us to support promising scholars. Here, Delaware Gov. Jack Markell and his mother, Leni Markell, join recipients of the William Markell Scholarship (center), which benefits students in Accounting and MIS.

The Institute for Financial Services Analytics is a collaboration between the Lerner College, UD's College of Engineering and JPMorgan Chase, and hosts events for academics and the business community designed to address consumer analytics and industry applications.

All Lerner College departments offer discovery learning experiences and emphasize data-based analytics to enrich the student experience. Here, students at Vita Nova, our award-winning restaurant run through HRIM, joined professional chefs and winemakers in hosting a 2014 Mid-Atlantic Wine and Food Festival event.

Lerner College faculty - like Meryl Gardner, whose research on foods and moods was recently published in the Journal of Consumer Psychology - are thought leaders who command attention from influential business audiences, economists and policy makers.

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