Joost M. E. Pennings

Maastricht University

Full Professor

P.O. Box 616

Maastricht, Limburg 6200MD

Netherlands

http://marketing-finance.nl/cv/cvpennings.pdf

Wageningen University and Research (WUR)

Full Professor

Hollandseweg 1

Wageningen, 6706KN

Netherlands

http://marketing-finance.nl/cv/cvpennings.pdf

University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics

Full Professor

1301 W. Gregory Drive

326 Mumford Hall MC-710

Urbana, IL 61801

United States

http://marketing-finance.nl/cv/cvpennings.pdf

  • Maastricht University

  • Wageningen University and Research (WUR)

  • University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics

    • Tel: 217-244-1284
    • Fax: 217-333-5538
SCHOLARLY PAPERS

49

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104

Scholarly Papers (49)

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1.

Behavioral Portfolio Analysis of Individual Investors

Number of pages: 45 Posted: 24 Jun 2010 Last Revised: 05 Oct 2010
Arvid O. I. Hoffmann, Hersh Shefrin and Joost M. E. Pennings
University of Adelaide - Business School, Santa Clara University - Leavey School of Business and Maastricht University
Downloads 3,090 (8,842)
Citation 26

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Behavioral Portfolio Theory, Investment Decisions, Investor Performance, Behavioral Finance

2.

Individual Investor Perceptions and Behavior During the Financial Crisis

Journal of Banking and Finance, 37(1), pp. 60-74
Number of pages: 42 Posted: 02 Dec 2010 Last Revised: 13 Jan 2015
Arvid O. I. Hoffmann, Thomas Post and Joost M. E. Pennings
University of Adelaide - Business School, Maastricht University - Department of Finance and Maastricht University
Downloads 1,572 (25,755)
Citation 26

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Investor Perceptions, Investor Behavior, Investor Performance, Financial Crisis

3.

The Financial Industry's Challenge of Developing Commodity Derivatives

Office for Futures and Options Research (OFOR), Working Paper No. 99-01
Number of pages: 27 Posted: 24 Sep 1999
Joost M. E. Pennings and Matthew T.G. Meulenberg
Maastricht University and Wageningen University and Research (WUR)
Downloads 731 (76,230)
Citation 1

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4.

How Investor Perceptions Drive Actual Trading and Risk-Taking Behavior

Journal of Behavioral Finance, 16 (1), pp. 94-103. 2015
Number of pages: 24 Posted: 06 Dec 2011 Last Revised: 25 Mar 2015
Arvid O. I. Hoffmann, Thomas Post and Joost M. E. Pennings
University of Adelaide - Business School, Maastricht University - Department of Finance and Maastricht University
Downloads 703 (80,124)
Citation 5

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individual investors, return expectations, risk perception, risk tolerance, stock trading, risk-taking behavior

5.

Assessing the Construct Validity of Risk Attitude

Management Science, Vol. 46, No. 10, pp. 1337-1348, 2000
Number of pages: 32 Posted: 10 Jun 2003
Joost M. E. Pennings and A. Smidts
Maastricht University and Erasmus Research Institute of Management (ERIM)
Downloads 645 (89,394)
Citation 7

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Managerial Decision Making Under Risk, Risk Attitude, Utility Theory, Psychometric Scaling, Nomological Validity, Price Risk

6.

Relationship Marketing's Role in Managing the Firm-Investor Dyad

Journal of Business Research, Vol. 64, Issue 8, pp. 896-903
Number of pages: 33 Posted: 15 Dec 2008 Last Revised: 24 May 2011
Arvid O. I. Hoffmann, Joost M. E. Pennings and Simone Wies
University of Adelaide - Business School, Maastricht University and Leibniz Institute for Financial Research SAFE
Downloads 612 (95,614)

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Marketing-Finance Interface, Investor Relations, Role of Marketing, Market-Based Assets

7.

Smart Shopping Carts: How Real-Time Feedback Influences Spending

Van Ittersum, Koert, Brian Wansink, Joost M.E. Pennings, and Daniel Sheehan (2013), “Smart Shopping Carts: How Real-Time Feedback Influences Spending,” Journal of Marketing, 77:6, 21-36.
Number of pages: 48 Posted: 22 Jul 2013 Last Revised: 30 Apr 2017
Koert van Ittersum, Brian Wansink, Joost M. E. Pennings and Daniel Sheehan
University of Groningen, Retired - Cornell University, Maastricht University and Georgia Institute of Technology
Downloads 580 (102,660)
Citation 3

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real-time spending feedback, grocery shopping behavior, smart shopping carts, budget shoppers, nonbudget shoppers

8.

Commodity Futures Contract Viability: A Multidisciplinary Approach

Office for Futures and Options Research (OFOR), Working Paper No. 99-02
Number of pages: 40 Posted: 24 Sep 1999
Joost M. E. Pennings and Raymond M. Leuthold
Maastricht University and University of Illinois @ Urbana-Champaign
Downloads 544 (110,947)
Citation 1

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9.

The Shape of Utility Functions and Organizational Behavior

Downloads 510 (120,238)
Citation 6

The Shape of Utility Functions and Organizational Behavior

Number of pages: 21 Posted: 20 Feb 2003
Joost M. E. Pennings and A. Smidts
Maastricht University and Erasmus Research Institute of Management (ERIM)
Downloads 510 (118,696)
Citation 6

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organizational behavior, risk aversion, prospect theory, utility theory

The Shape of Utility Functions and Organizational Behavior

Posted: 09 Sep 2003
Joost M. E. Pennings and A. Smidts
Maastricht University and Erasmus Research Institute of Management (ERIM)

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Heterogeneity in Utility Functions; Organizational Behavior; S-shaped Utility Function, Real Decision Makers, Reference Points

10.

Channel Contract Behavior: The Role of Risk Attitudes, Risk Perceptions, and Channel Members' Market Structures

Pennings, Joost M.E. and Brian Wansink (2004), “Channel Contract Behavior: The Role of Risk Attitudes, Risk Perceptions, and Channel Member Market Structures,” Journal of Business, 77:4 (October), 697-723.
Number of pages: 51 Posted: 09 Jun 2003 Last Revised: 30 Apr 2017
Joost M. E. Pennings and Brian Wansink
Maastricht University and Retired - Cornell University
Downloads 398 (160,941)
Citation 9

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Marketing Channel, contracts, risk attitude, risk perception

11.

Hedging Behavior in Small and Medium-Sized Enterprises: The Role of Unobserved Heterogeneity

Number of pages: 53 Posted: 24 May 2003
Joost M. E. Pennings and Philip Garcia
Maastricht University and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics
Downloads 370 (174,716)
Citation 3

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Derivatives Usage, Hedging Behavior, Unobserved Heterogeneity

12.

Surveying Farmers: A Research Note

Number of pages: 15 Posted: 10 Oct 2000
Joost M. E. Pennings, Scott H. Irwin and Darrel L. Good
Maastricht University, University of Illinois at Urbana-Champaign and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics
Downloads 347 (187,423)
Citation 1

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13.

A Note on Modeling Consumer Reactions to a Crisis: The Case of the Mad Cow Disease

Downloads 317 (206,703)
Citation 6

A Note on Modeling Consumer Reactions to a Crisis: The Case of the Mad Cow Disease

Pennings, Joost M.E., Brian Wansink, and Matthew M.E. Meulenberg (2002), “A Note on Modeling Consumer Reactions to a Crisis: The Case of the Madcow Disease,” International Journal of Research in Marketing, 19:2 (March), 91-100.
Number of pages: 28 Posted: 17 Mar 2003 Last Revised: 30 Apr 2017
Joost M. E. Pennings, Brian Wansink and Matthew T.G. Meulenberg
Maastricht University, Retired - Cornell University and Wageningen University and Research (WUR)
Downloads 317 (205,001)
Citation 6

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Consumer reactions, Crisis, Risk Attitude, Risk Perception

A Note on Modeling Consumer Reactions to a Crisis: The Case of the Mad Cow Disease

Posted: 14 Mar 2003
Joost M. E. Pennings, Brian Wansink and Matthew T.G. Meulenberg
Maastricht University, Retired - Cornell University and Wageningen University and Research (WUR)

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Consumer reactions, Crisis, Risk Attitude, Risk Perception

14.

A Behavioral Approach Towards Futures Contract Usage

OFOR Working Paper No. 00-08
Number of pages: 29 Posted: 03 Nov 2000
Joost M. E. Pennings and Raymond M. Leuthold
Maastricht University and University of Illinois @ Urbana-Champaign
Downloads 315 (208,118)
Citation 1

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15.

An European Perspective on Research in Agricultural Futures Markets: Past, Present and Future

Univ. of Illinois, Agricultural & Cons. Economics Working Paper No. 02-50
Number of pages: 22 Posted: 23 Jan 2003
Joost M. E. Pennings
Maastricht University
Downloads 308 (213,283)
Citation 1

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Agricultural futures markets, hedging theory, research models

16.

Hedging Revisited: Resolving Contractual Conflicts

Office for Futures and Options Research Working Paper No. 00-01
Number of pages: 21 Posted: 13 Jul 2000
Joost M. E. Pennings and Raymond M. Leuthold
Maastricht University and University of Illinois @ Urbana-Champaign
Downloads 269 (245,719)
Citation 1

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17.

The Poverty Challenge: How Individual Decision-Making Behavior Influences Poverty

Number of pages: 9 Posted: 03 Feb 2005
Joost M. E. Pennings and Philip Garcia
Maastricht University and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics
Downloads 256 (259,334)

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Poverty, Decision Making Behavior, Research Approach

18.

A Marketing-Finance Approach Towards Industrial Channel Contract Relationships: A Model of Application

Journal of Business Research, Vol.57, No. 6, pp. 601-609, June 2004
Number of pages: 31 Posted: 04 Oct 2005
Joost M. E. Pennings
Maastricht University
Downloads 253 (261,438)

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Cash flows, Channel contract relationships, Marketing-finance interface, risk management

19.

The Role of Market Advisory Services in Crop Marketing and Risk Management: A Preliminary Report of Survey Results

AgMas Report 2001-02
Number of pages: 63 Posted: 19 May 2001
Joost M. E. Pennings, Darrel L. Good and Scott H. Irwin
Maastricht University, University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics and University of Illinois at Urbana-Champaign
Downloads 252 (262,450)
Citation 3

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20.

Futures Exchange Innovations: Reinforcement Versus Cannibalism

Office for Futures and Options Research (OFOR), Working Paper No. 99-03
Number of pages: 33 Posted: 24 Sep 1999
Joost M. E. Pennings and Raymond M. Leuthold
Maastricht University and University of Illinois @ Urbana-Champaign
Downloads 249 (265,643)

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21.

Towards a Theory of Revealed Economic Behavior: The Economic-Neurosciences Interface

Number of pages: 23 Posted: 04 Jan 2005
Joost M. E. Pennings, Philip Garcia and Eligius Hendrix
Maastricht University, University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics and Wageningen University and Research (WUR) - School of Social Sciences
Downloads 248 (266,720)

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revealed behavior, economics, neurosciences, synthesis, decision-making model

22.

Time-Varying Hedge Ratios: A Principal-Agent Approach

Journal of Agricultural Economics, Forthcoming
Number of pages: 20 Posted: 04 Oct 2005
John K. Kuwornu, W. Erno Kuiper, Joost M. E. Pennings and Matthew T.G. Meulenberg
Wageningen University and Research (WUR) - Economics of Consumers and Households, Wageningen University and Research (WUR), Maastricht University and Wageningen University and Research (WUR)
Downloads 168 (383,998)

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Hedging, Principal-Agent Theory, Time Series, Futures

23.

Trying Harder and Doing Worse: How Grocery Shoppers Track In-Store Spending

Van Ittersum, Koert, Joost M.E. Pennings, and Brian Wansink (2010), “Trying Harder and Doing Worse: How Grocery Shoppers Track In-Store Spending,” Journal of Marketing, 74:2 (April), 90-104.
Number of pages: 38 Posted: 03 Feb 2010 Last Revised: 30 Apr 2017
Koert van Ittersum, Joost M. E. Pennings and Brian Wansink
University of Groningen, Maastricht University and Retired - Cornell University
Downloads 136 (457,655)
Citation 1

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budget shoppers, in-store spending behavior, mental computation, basket estimation, retail price setting

24.

The Validity of Attribute-Importance Measurement: A Review

Journal of Business Research, Vol. 60, 2007
Number of pages: 15 Posted: 05 Feb 2010 Last Revised: 17 Feb 2010
Koert van Ittersum, Joost M. E. Pennings, Brian Wansink and Hans Van Trijp
University of Groningen, Maastricht University, Retired - Cornell University and Independent
Downloads 128 (480,501)

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Attribute Importance, Measurement, Convergent Validity, Nomological Validity, Discriminant Validity

25.

Improving Attribute-Importance Measurement: A Reference-Point Approach

Advances in Consumer Research 31 (2004): 84-85
Number of pages: 2 Posted: 02 Aug 2014
Koert van Ittersum, Joost M. E. Pennings, Brian Wansink and Hans Van Trijp
University of Groningen, Maastricht University, Retired - Cornell University and Independent
Downloads 121 (502,032)

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26.

Consumer Reactions to a Crisis

Pennings, Joost M. E., Brian Wansink, and Matthew T. G. Meulenberg. 2002. "A note on modeling consumer reactions to a crisis: The case of the mad cow disease," International Journal of Research in Marketing, 19(1): 91-100.
Number of pages: 16 Posted: 12 Jan 2016 Last Revised: 27 Apr 2017
Joost M. E. Pennings, Brian Wansink and Matthew T.G. Meulenberg
Maastricht University, Retired - Cornell University and Wageningen University and Research (WUR)
Downloads 106 (554,606)

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risk response, consumer behavior, mad cow disease, creutzfeldt-jakob disease, bovine spongiform encephalopathy, crisis response, marketing, consumer reactions, risk attitude, risk perception

27.

Insights from Lob Data on Intraday Liquidity Measures

Number of pages: 29 Posted: 17 Nov 2022
Jason Franken, Serdar Demirel, Joost M. E. Pennings, Philippe Debie and Marjolein Verhulst
Western Illinois University, Wageningen University and Research (WUR), Maastricht University, Wageningen University and Research (WUR) and Wageningen University and Research (WUR)
Downloads 101 (574,500)

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Confirmatory Factor Analytical Model, high frequency trading, LOB data, Liquidity

28.

Heterogeneity in the Likelihood of Market Advisory Service Use by U.S. Crop Producers

Agribusiness: An International Journal, Vol. 21, No. 1, pp. 109-128, January 2005
Number of pages: 39 Posted: 04 Oct 2005
Joost M. E. Pennings, Scott H. Irwin, Darrel L. Good and Olga Isengildina Massa
Maastricht University, University of Illinois at Urbana-Champaign, University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics and Virginia Polytechnic Institute and State University
Downloads 95 (598,167)
Citation 1

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Marketing advisory services, marketing philosophy, mixture model, financial performance, heterogeneity, risk attitudes, crop producers

29.

The Relationship between Attribute Importance and Attribute-Valuation Functions

Organizational Behavior and Human Decision Processes, 119, 89-102, September 2012
Number of pages: 15 Posted: 07 Sep 2012
Koert van Ittersum and Joost M. E. Pennings
University of Groningen and Maastricht University
Downloads 91 (614,538)

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Attribute importance, Validity, Global and local interpretations of attribute importance, Attribute-value functions

30.

Microstructure and High-Frequency Price Discovery in the Soybean Complex

Number of pages: 62 Posted: 24 May 2022
Xinquan Zhou, Guillaume Bagnarosa, Alexandre Gohin, Joost M. E. Pennings and Philippe Debie
Dublin City University Business School, ESC Rennes School of Business, ESC Rennes School of Business, Maastricht University and Wageningen University and Research (WUR)
Downloads 89 (623,094)
Citation 1

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Soybean, Futures market microstructure, Liquidity, Price discovery, High-Frequency

31.

Quantifying and Modeling Price Volatility in The  Dutch Intraday Electricity Market

Number of pages: 13 Posted: 18 Dec 2023
Dane Birkeland, Tarek AlSkaif, Steven Duivenvoorden, Marvin Meeng and Joost M. E. Pennings
Wageningen University, Wageningen University and Research (WUR), affiliation not provided to SSRN, affiliation not provided to SSRN and Maastricht University
Downloads 88 (627,449)

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intraday electricity markets, multivariate linear regression, price volatility, price realized volatility, market fundamentals

32.

Trying Harder and Doing Worse: How Grocery Shoppers Track Their In-Store Spending

Van Ittersum, Koert, Joost ME Pennings, and Brian Wansink. "Trying harder and doing worse: How grocery shoppers track in-store spending." Journal of Marketing 74.2 (2010): 90-104.
Number of pages: 4 Posted: 30 Jul 2014
Koert van Ittersum, Joost M. E. Pennings and Brian Wansink
University of Groningen, Maastricht University and Retired - Cornell University
Downloads 72 (704,981)

Abstract:

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33.

Channel Contract Behavior: the Role of Risk Attitudes, Risk Perceptions, and Channel Member Market Structures

Journal of Business, Vol. 77, No. 4, 2004
Number of pages: 28 Posted: 02 Aug 2014
Joost M. E. Pennings and Brian Wansink
Maastricht University and Retired - Cornell University
Downloads 64 (751,052)

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34.

Harnessing a ‘Currency Matrix’ for Performance Measurement in Cooperatives: A Multi-Phased Study

Sustainability 2018, 10, 4536
Number of pages: 40 Posted: 24 Dec 2019
Theo Benos, Nikos, Martin Wetzels, Ko de Ruyter and Joost M. E. Pennings
Maastricht University, affiliation not provided to SSRN, Maastricht School of Business and Economics, Maastricht University - Department of Marketing & Supply Chain Management and Maastricht University
Downloads 36 (975,520)
Citation 1

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Performance Measurement; Cooperatives; Extensive Review; Delphi Method; Interdisciplinary Dialogue; Social Enterprises; Socio-Economic Impact

35.

Understanding Producers’ Motives for Adopting Sustainable Practices: The Role of Expected Rewards, Risk Perception, and Risk Tolerance

European Review of Agricultural Economics, Jan 2016
Posted: 19 Jul 2016
Andrés Trujillo-Barrera, Joost M. E. Pennings and Dianne Hofenk
Wageningen University and Research (WUR), Maastricht University and Independent

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Motives, Adoption of Sustainable Practices, Expected Rewards, Risk Perception, Risk Tolerance

36.

The Impact of Market Advisory Service Recommendations on Producers' Marketing Decisions

Posted: 23 Jun 2004
Joost M. E. Pennings, Olga Isengildina Massa, Scott H. Irwin and Darrel L. Good
Maastricht University, Virginia Polytechnic Institute and State University, University of Illinois at Urbana-Champaign and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics

Abstract:

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Market advisory services, ordered probit model, producers' marketing decisions

37.

A Behavioral Decision-Making Modeling Approach Towards Hedging Services

Journal of Behavioral Finance, Vol. 4, No. 2, September 2003
Posted: 17 Nov 2003
Joost M. E. Pennings, Math J. J. M. Candel and Thorsten M. Egelkraut
Maastricht University, Maastricht University - Department of Statistics and Oregon State University - Department of Applied Economics

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Choice Process, Cognitive Decision Models, Futures, Multivariate Statistics, Structural Equation Models

38.

Hedging Behavior in Small and Medium-Sized Enterprises: The Role of Unobserved Heterogeneity

Posted: 24 May 2003
Joost M. E. Pennings and Philip Garcia
Maastricht University and University of Illinois at Urbana-Champaign - Department of Agricultural and Consumer Economics

Abstract:

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Derivatives Usage, Hedging Behavior, Unobserved Heterogeneity

39.

Introducing New Futures Contracts: Reinforcement Versus Cannibalism

Posted: 15 Jan 2003
Joost M. E. Pennings and Raymond M. Leuthold
Maastricht University and University of Illinois @ Urbana-Champaign

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41.

Environmental Rights on the Futures Markets: An Application to the Dutch Manure Market

Posted: 26 Oct 1999
Joost M. E. Pennings, Matthew T.G. Meulenberg and Willem J.M. Heijman
Maastricht University, Wageningen University and Research (WUR) and Wageningen Agricultural University

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42.

Futures Markets, Price Stabilization and Efficient Exploitation of Exhaustible Resources

ENVIRONMENTAL AND RESOURCE ECONOMICS
Posted: 20 Dec 1998
Erwin H. Bulte, Joost M. E. Pennings and Willem J.M. Heijman
Tilburg University - Department of Economics, Maastricht University and Wageningen Agricultural University

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43.

Managing Resource Price Risk: Futures Markets, Sustainability and Efficiency

Posted: 10 Oct 1998
Erwin H. Bulte, Joost M. E. Pennings and Willem J.M. Heijman
Tilburg University - Department of Economics, Maastricht University and Wageningen Agricultural University

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44.

The Information Dissemination Process of Futures Exchange Innovations: A Note

Journal of Business Research, 1998
Posted: 10 Sep 1998
Joost M. E. Pennings
Maastricht University

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45.

The Dimensions of Rights: A Classification of Environmental Rights and Production Rights

European Journal of Law and Economics, Vol. 4, No. 1, 1997.
Posted: 28 May 1998
Joost M. E. Pennings, Willem J.M. Heijman and Matthew T.G. Meulenberg
Maastricht University, Wageningen Agricultural University and Wageningen University and Research (WUR)

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46.

New Futures Markets in Agricultural Production Rights: Possibilities and Constraints for the British and Dutch Milk Quota Markets

Journal of Agricultural Economics
Posted: 20 Feb 1998
Joost M. E. Pennings and Matthew T.G. Meulenberg
Maastricht University and Wageningen University and Research (WUR)

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47.

Environmental and Production Rights Futures: A New Booming Market?

Derivatives Quarterly
Posted: 14 Oct 1997
Joost M. E. Pennings and Matthew T.G. Meulenberg
Maastricht University and Wageningen University and Research (WUR)

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48.

A Note on Overfishing, Fishing Rights and Futures Markets

EUROPEAN J. OF LAW AND ECONOMICS
Posted: 19 Jun 1997
Erwin H. Bulte and Joost M. E. Pennings
Tilburg University - Department of Economics and Maastricht University

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49.

The Price Path Due to Order Imbalances: Evidence from the Amsterdam Agricultural Futures Exchange

European Financial Management
Posted: 08 May 1997
Joost M. E. Pennings, W. Erno Kuiper, Frenkel ter Hofstede and Matthew T.G. Meulenberg
Maastricht University, Wageningen University and Research (WUR), Carnegie Mellon University - David A. Tepper School of Business and Wageningen University and Research (WUR)

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