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Vincent Mak

Vincent Mak

Reader in Marketing & Decision Sciences
Director of the MPhil in Strategy, Marketing & Operations Programme
Deputy Director of Teaching

BA, MMath, MSc (University of Cambridge), PhD (Hong Kong University of Science and Technology)

Research interests

Vincent's research lies in how people and firms make strategic decisions as they interact with each other, and what economic and psychological factors influence those decisions. His research interests cover pricing, consumer search behaviour, decisions in networks and queues, competitive strategies, game theory, and experimental economics. His recent projects include, for example, how consumers search for marketing offers, how managerial committees make decisions as a group, and how R&D managers can be incentivised to align their interests with their company's.

Subject group: Marketing

Professional experience

Vincent is on the Editorial Review Board of the journal Production & Operations Management. He was previously a case writer at the University of Hong Kong's Centre for Asian Business Cases (now Asia Case Research Centre), producing over 20 business cases which have been used worldwide. His recent consulting work includes a study of online/offline retail prices and price comparison websites, as well as a consumer survey study on the functioning of the market for Internet access, both commissioned by the European Commission. He has also worked as a columnist, journalist, editor, and freelance writer/broadcaster in the Hong Kong media specialising in classical music and the arts.

Previous appointments

Vincent was a Visiting Assistant Professor at the Hong Kong University of Science and Technology prior to joining Cambridge Judge Business School.

Awards & honours

  • 3rd Prize, Best-Paper-Award Innovation Management, for the paper "Resource allocation decisions under imperfect evaluation and organizational dynamics" (with Jochen Schlapp and Nektarios Oraiopoulos), Strascheg Institute for Innovation & Entrepreneurship (SIIE), EBS Business School, 2015
  • National Research Article Award (Business Administration Category - Merit) for the paper "Culture moderates biases in search decisions" (with Jake A. Pattaratanakun), National Institute of Development Administration of Thailand, 2015
  • Program Committee Member, Asia-Pacific Association for Consumer Research Conference, 2015
  • Overseas Research Attachment Award, The Hong Kong University of Science and Technology, 2008
  • First runner-up, the Seventh Asia-Pacific Case Writing Competition, 2002

Selected publications

Here are a selection of Vincent Mak's publications. Please see the "Selected publications" tab above for a more comprehensive list.

Pattaratanakun, J.A. and Mak, V. (2015) "Culture moderates biases in search decisions." Psychological Science, 26(8): 1229-1240 (DOI: 10.1177/0956797615583979)
Research findings featured in The Conversation, Phys.org and My Science

Schlapp, J., Oraiopoulos, N. and Mak, V. (2015) "Resource allocation decisions under imperfect evaluation and organizational dynamics." Management Science, 61(9): 2013-2280 (DOI: 10.1287/mnsc.2014.2083)

Mak, V., Zwick, R., Rao, A.R. and Pattaratanakun, J.A. (2015) "'Pay-what-you-want' as threshold public good provision." Organizational Behavior and Human Decision Processes, 127: 30-43 (DOI: 10.1016/j.obhdp.2014.11.004)
Research findings featured in The Independent, The Conversation and Wirtschafts Woche

Mak, V., Rapoport, A., Gisches, E.J. and Han, J. (2014) "Purchasing scarce products under dynamic pricing: an experimental investigation." Manufacturing and Service Operations Management, 16(3): 425-438 (DOI: 10.1287/msom.2014.0480)

Mak, V., Rapoport, A. and Seale, D.A. (2014) "Sequential search by groups with rank-dependent payoffs: an experimental study." Organizational Behavior and Human Decision Processes, 124(2): 256-267 (DOI: 10.1016/j.obhdp.2014.03.004)
Research findings featured in The Economist/Which MBA? and The Daily Telegraph

Mak, V., Rapoport, A. and Gisches, E.J. (2012) "Competitive dynamic pricing with alternating offers: theory and experiment." Games and Economic Behavior, 75(1): 250-264 (DOI: 10.1016/j.geb.2011.08.018)

Journal articles

Rapoport, A., Mak, V. and Zwick, R. (2006) "Navigating congested networks with variable demand: experimental evidence." Journal of Economic Psychology, 27(5): 648-666 (DOI: 10.1016/j.joep.2006.06.001)

Mak, V. and Zwick, R. (2009) "'Confidentially yours': restricting information flow between trustees enhances trust-dependent transactions." Journal of Economic Behavior and Organization, 70(1-2): 142-154 (DOI: 10.1016/j.jebo.2008.10.010)

Mak, V. and Zwick, R. (2010) "Investment decisions and coordination problems in a market with network externalities: an experimental study." Journal of Economic Behavior and Organization, 76(3): 759-773 (DOI: 10.1016/j.jebo.2010.08.017)

Rapoport, A., Stein, W.E., Mak, V., Zwick, R. and Seale, D.A. (2010) "Endogenous arrivals in batch queues with constant or variable capacity." Transportation Research Part B, 44(10): 1166-1185 (DOI: 10.1016/j.trb.2010.01.005)

Mak, V., Rapoport, A. and Gisches, E.J. (2012) "Competitive dynamic pricing with alternating offers: theory and experiment." Games and Economic Behavior, 75(1): 250-264 (DOI: 10.1016/j.geb.2011.08.018)

Mak, V. and Rapoport, A. (2013) "The price of anarchy in social dilemmas: traditional research paradigms and new network applications." Organizational Behavior and Human Decision Processes (Special Issue on Social Dilemmas), 120(2): 142-153 (DOI: 10.1016/j.obhdp.2012.06.006)

Mak, V. and Zwick, R. (2014) "Experimenting and learning with localized direct communication." Experimental Economics, 17(2): 262-284 (DOI: 10.1007/s10683-013-9366-8)

Mak, V., Rapoport, A., Gisches, E.J. and Han, J. (2014) "Purchasing scarce products under dynamic pricing: an experimental investigation." Manufacturing and Service Operations Management, 16(3): 425-438 (DOI: 10.1287/msom.2014.0480)

Mak, V., Rapoport, A. and Seale, D.A. (2014) "Sequential search by groups with rank-dependent payoffs: an experimental study." Organizational Behavior and Human Decision Processes, 124(2): 256-267 (DOI: 10.1016/j.obhdp.2014.03.004)
Research findings featured in The Economist/Which MBA? and The Daily Telegraph

Rapoport, A., Gisches, E.J. and Mak, V. (2014) "Distributed decisions in networks: laboratory study of routing splittable flow." Production and Operations Management, 23(4): 314-331 (DOI: 10.1111/poms.12183)

Liu, C., Mak, V. and Rapoport, A. (2015) "Cost-sharing in directed networks: experimental study of equilibrium choice and system dynamics." Journal of Operations Management, 39-40 (Special issue on System Dynamics: Emergence, Reinforcement, Adaptation and Traps): 31-47 (DOI: 10.1016/j.jom.2015.07.004)

Schlapp, J., Oraiopoulos, N. and Mak, V. (2015) "Resource allocation decisions under imperfect evaluation and organizational dynamics." Management Science, 61(9): 2013-2280 (DOI: 10.1287/mnsc.2014.2083)

Mak, V., Zwick, R., Rao, A.R. and Pattaratanakun, J.A. (2015) "'Pay-what-you-want' as threshold public good provision." Organizational Behavior and Human Decision Processes, 127: 30-43 (DOI: 10.1016/j.obhdp.2014.11.004)
Research findings featured in The Independent, The Conversation and Wirtschafts Woche

Mak, V., Gisches, E.J. and Rapoport, A. (2015) "Route vs. segment: an experiment on real-time travel information in congestible networks." Production and Operations Management, 24(6): 947-960 (DOI: 10.1111/poms.12312)

Pattaratanakun, J.A. and Mak, V. (2015) "Culture moderates biases in search decisions." Psychological Science, 26(8): 1229-1240 (DOI: 10.1177/0956797615583979)

Book chapters

Zwick, R. and Mak, V. (2012) "Gaming with fairness: some conjectures on behavior in alternating offer bargaining experiments." In: Bolton, G.E. and Croson, R.T.A. (eds.) The Oxford handbook of economic conflict resolution. New York: Oxford University Press, pp.91-107

Information is power. Here’s what to do to get your team to share information better.

Are you happy to share information with your colleagues? And do they share their valuable information with you? A number of companies …

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Optimal online searching

Easterners search too long for good deals after incurring ‘sunk costs’ from earlier search efforts, finds study at Cambridge Judge Business School. …

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‘Over-searching’ online can be detrimental

From hiring to holidays, ‘group’ searches can cause heartbreak if not managed properly. Warning: “Over-searching” online can be hazardous to your health …

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Motivated to innovate?

The traditional view of dominant firms being lethargic is misinformed: dominant firms can actually be highly successful innovators Dr Vincent Mak, University …

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Phys.org: How to get teams to share information

Withholding key information within organisational silos might happen more often than we might like to admit. Now a new study suggests how …

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Cambridge Business Magazine: Easterners can search too long for deals, study says

Easterners are more inclined than Westerners to search too long online for the best deals because they are more sensitive to the …

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The Conversation: Are Asians more obsessed with a bargain hunt than Westerners?

Easterners are more inclined than Westerners to search too long online for the best deals because they are more sensitive to the …

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Phys.org: Digital bargain hunters: Optimal online searching

Easterners are more inclined than Westerners to search too long online for the best deals because they are more sensitive to the …

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My Science: Digital bargain hunters: optimal online searching

Easterners are more inclined than Westerners to search too long online for the best deals because they are more sensitive to the …

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Stamford Advocate: Study reveals Easterners search too long for good deals after incurring ‘sunk costs’ from earlier search efforts

Easterners are more inclined than Westerners to search too long online for the best deals because they are more sensitive to the …

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The Daily Telegraph: Online research leads to trouble and strife

Research co-authored by Dr Vincent Mak, University Lecturer in Marketing at Cambridge Judge Business School, says that “over-searching” online can work to …

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The Economist/Which MBA?: The futile search for perfection

This is an example of what Vincent Mak, a professor at Cambridge University’s Judge Business School, calls “oversearching”. In retrospect, the best …

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Wirtschafts Woche: When customers determine the price for a product

The ‘pay what you want’ compensation model has been used for many years, especially in sparsely populated areas. Owners of small shops …

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The Conversation: Why the butcher, the baker and the hotelier are adopting the honesty box

Our research suggests that, with sufficient social momentum among customers to collectively support the seller, this type of plea could indeed drive …

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The Independent: Honesty box hotels – you decide how much you pay

Some hotels in Paris have introduced a new payment method for their guests, allowing them to pay only what they think their …

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BBC Radio Cambridgeshire: The Paul Stainton Bigger Breakfast Show

BBC investigates why high street shops are doing better than malls in Cambridgeshire. Vincent Mak, University Lecturer in Marketing at CJBS, gives …

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The Times: Raconteur: Keep your customers happy by understanding ‘new’ loyalty

Businesses need to keep pace with rapidly changing buyer behaviour to engender customer loyalty, writes Leo King. Vincent Mak, a lecturer in …

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BBC Radio 4: You and yours

Lecturer in Marketing, Dr Vincent Mak has been advising the programme recently on retail issues. The programme was investigating on how the …

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Contact details

Vincent Mak
Cambridge Judge Business School
University of Cambridge
Trumpington Street
Cambridge CB2 1AG
UK

Tel: +44 (0)1223 764295
Fax: +44 (0)1223 339701

v.mak@jbs.cam.ac.uk