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Daniel Walters

Assistant Professor of Marketing


Daniel Walters is an Assistant Professor of Marketing at INSEAD. He holds a PhD and MBA from the UCLA Anderson School of Management. Prior to his academic career Dan was in investment banking and investment management where he oversaw a portfolio of $200 million at a value focused, long/short equity hedge fund.

Daniel's research focuses on improving consumer judgment and decision making. He is particularly interested in understanding how people make inferences about missing information in the context of product decisions, investment judgments, and intertemporal choices. Daniel has examined how overconfidence in product inferences can stem from a neglect of unknown evidence, how memory biases impact overconfidence, how consumers fill in gaps in memory to make product judgments, and how beliefs about the nature of unknown information can impact investment behaviors, such as diversification, trading frequency, and willingness to seek financial advice. He has validated this research in theoretical and applied settings, using incentive compatible lab experiments, field studies, and large-scale datasets. Daniel has published his work in top academic journals such as the Journal of Consumer Research and Management Science. He has given talks on his research at the Association for Consumer Research, Society for Consumer Psychology, the Subjective Probability, Utility, and Decision Making Conference, and the Society for Judgment and Decision Making.

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Putting a Price on Private Data

G. Tomaino, K. Wertenbroch, D. Walters

People value their private data higher in cash than in digital goods or services.


Why Investors’ Memories May Be Bad for Their Wealth

D. Walters, P. Fernbach

How positive bias can lead overconfident investors to inflate the size of their wins and forget their losses.


Comparison Shopping in the Age of Information Overload

Daniel Walters

When consumers try to estimate a product specification, their best guess depends on whether they believe that they forgot this information or that they were never exposed to it.


How Managers Can Curb Overconfidence

Daniel Walters

Taking the time to consider unknowns helps executives make better decisions.
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