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 Vitae


Selected publications

  • 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

  • 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 $1.4 million student-led Blue Hen Investment Fund, 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.

Lerner College faculty - like Anu Sivaraman, who is among Social Media Marketing Magazine’s “Top 100 Marketing Professors on Twitter” and’s “Top 50 Marketing Professors on Twitter” - are thought leaders who command attention from influential business audiences, economists and policy makers.

All Lerner College departments offer experience-driven learning and emphasize evidence-based analytics methods to enrich the student experience. Here, finance students visit New York City’s financial districts for a first-hand look at markets trading and to meet with UD alumni.

Charles W. Horn, AS75, and wife Patricia, recently made a $3 million commitment to enhance and expand entrepreneurial studies.

  • Alfred Lerner College of Business & Economics
    303 Alfred Lerner Hall  •  Newark, DE 19716  •  USA  •  ©