Rob Ranyard

Visiting Professor - Management Division

Visiting Faculty, Academic, Management, Centre for Decision Research (CDR)
The psychology of decision making, economic psychology


Rob Ranyard is Visiting Professor affiliated to the Centre for Decision Research at Leeds University Business School. A freelance researcher, his research training was at the University of Stirling, from where he graduated in 1972 with a PhD on the psychology of decision making. Subsequently he has held various research and lecturing posts in psychology, including Professor of Psychology at the University of Bolton from 2001 to 2014. Rob is currently the UK representative for the International Association for Research into Economic Psychology. He is an Associate Fellow of the British Psychological Society.

Rob has undertaken psychological research using a range of methods and has published widely on economic psychology and decision research. His current research includes collaborations with colleagues in the Centre for Decision Research at Leeds.

Recently Rob edited and contributed to Economic Psychology, a new textbook in the British Psychological Society series (publisher, Wiley; August, 2017).

  • Research areas: the psychology of decision making, economic psychology, cognitive psychology (decision processes), research methodology
  • Current projects:
    • Personal and household financial decision making
    • Decision, risk and uncertainty: Experimental studies 
    • Foundations of decision research 

Edited books

Ranyard, R. (Ed.) (2017). Economic psychology. Chichester, UK: Wiley.

Schulte-Mecklenbeck, M., Kühberger, A., & Ranyard, R. (Eds.). (2011). A handbook of process tracing methods for decision research: A critical review and user’s guide. New York: Psychology Press.

Ranyard, R., Crozier, W. R., & Svenson, O. (1997). Decision making: Cognitive models and explanations. London: Routledge.

Peer-reviewed publications (since 1995)

Del Missier, F., Ranyard, R., & Bonini, N. (2016). Perceived inflation: The role of product accessibility and attitudes towards inflation. Journal of Economic Psychology, 56, 97-106.

McHugh, S. & Ranyard, R. (2016). Consumers’ credit card repayment decisions: The role of higher anchors and future repayment concern. Journal of Economic Psychology, 52, 102-114. 

McNair, S., Summers, B., Bruine de Bruin, W., & Ranyard, R. (2016). Individual-level factors predicting consumer financial behavior at a time of high pressure. Personality and Individual Differences, 99, 211-216.

Ranyard, R. (2014). A critical realist perspective on decisions involving risk and uncertainty. Polish Psychological Bulletin, 45, 3–11.

McHugh, S., & Ranyard, R. (2012). Credit repayment decisions: The role of long-term consequence information, economic and psychological factors. Review of Behavioral Finance, 4, 98-112.

Ranyard, R. & McHugh, S. (2012). Bounded rationality in credit consumers’ payment protection insurance decisions: The effect of relative cost and level of cover. Journal of Risk Research, 15, 937-950.

Ranyard, R., & McHugh, S. (2012). Defusing the risk of borrowing: The psychology of payment protection insurance decisions. Journal of Economic Psychology, 33, 738-748.

Taylor, S., Charlton, J., & Ranyard, R. (2011). Ethnic and gender differences in the labour market perceptions of post-higher education job-seekers: ‘Double jeopardy’ or ‘ethnic prominence’? Journal of Occupational and Organizational Psychology, 85, 353–369.

Schulte-Mecklenbeck, M., Kühberger, A., & Ranyard, R. (2011). The role of process data in the development and testing of process models of judgment and decision making. Judgment and Decision Making, 6, 733-739.

McHugh, S., Ranyard, R., & Lewis, A. (2011). Understanding and knowledge of credit cost and duration: Effects on credit judgements and decisions. Journal of Economic Psychology, 32(4), 609-620.

Ranyard, R., Missier, F. D., Bonini, N., Duxbury, D., & Summers, B. (2008). Perceptions and expectations of price changes and inflation: A review and conceptual framework. Journal of Economic Psychology, 29(4), 378-400.

Del Missier, F., Ranyard, R., & Pietroni, D. (2008). Interazioni virtuose tra psicologia della decisione ed economia comportamentale: Il caso dellinflazione percepita. [Fruitful interactions between psychology and behavioral economics: The case of perceived inflation] Sistemi Intelligenti, 20(1), 39-56.

Missier, F. D., Bonini, N., & Ranyard, R. (2007). The euro illusion in consumers’ price estimation: An Italian-Irish comparison in the third year of the euro. Journal of Consumer Policy, 30(4), 337-354.

Ranyard, R. (2007). Euro stories: The Irish experience of currency change. Journal of Consumer Policy, 30(4), 313-322.

Amado, S., Topsever, Y., & Ranyard, R. (2007). Does "000,000" matter? Psychological effects of Turkish monetary reform. Journal of Economic Psychology, 28(2), 154-169.

Ranyard, R., Routh, D. A., Burgoyne, C. B., & Saldanha, G. (2007). A qualitative study of adaptation to the euro in the Republic of Ireland: II: Errors, strategies, and making sense of the new currency. European Psychologist, 12(2), 139-146.

Ranyard, R., & Charlton, J. P. (2006). Cognitive processes underlying lottery and sports gambling decisions: The role of stated probabilities and background knowledge. European Journal of Cognitive Psychology, 18(2), 234-254.

Ranyard, R., Hinkley, L., Williamson, J., & McHugh, S. (2006). The role of mental accounting in consumer credit decision processes. Journal of Economic Psychology, 27(4), 571-588.

Lau, L., & Ranyard, R. (2005). Chinese and English probabilistic thinking and risk taking in gambling. Journal of Cross-Cultural Psychology, 36(5), 621-627.

Ranyard, R., Burgoyne, C. B., Saldanha, G., & Routh, D. A. (2005). A qualitative study of adaptation to the euro in the Republic of Ireland: I. attitudes, the euro illusion and the perception of prices. Journal of Community & Applied Social Psychology, 15(2), 95-107.

Gamble, A., Gärling, T., Charlton, J., & Ranyard, R. (2002). Euro illusion: Psychological insights into price evaluations with a unitary currency. European Psychologist, 7(4), 302-311.

Ranyard, R., Charlton, J. P., & Williamson, J. (2001). The role of internal reference prices in consumers’ willingness to pay judgments: Thaler’s beer pricing task revisited. Acta Psychologica, 106(3), 265-283.

Ranyard, R., Hinkley, L., & Williamson, J. (2001). Risk management in consumers’ credit decision making. Zeitschrift Für Sozialpsychologie, 32(3), 152-161.

Williamson, J., Ranyard, R., & Cuthbert, L. (2000). A conversation-based process tracing method for use with naturalistic decisions: An evaluation study. British Journal of Psychology, 91(2), 203-221.

Williamson, J., Ranyard, R. & Cuthbert, L.J. (2000). Risk management in naturalistic insurance decisions: Evidence from a process tracing study. Decision, Risk & Policy, 5, 19-38.

Lau, L., & Ranyard, R. (1999). Chinese and English speakers’ linguistic expression of probability and probabilistic thinking. Journal of Cross-Cultural Psychology, 30(4), 411-421.

Ranyard, R. (1995). Reversal of preferences between compound and simple risks: The role of editing heuristics. Journal of Risk and Uncertainty, 11, 159–175.

Ranyard, R., & Craig, G. (1995). Evaluating and budgeting with instalment credit: An interview study. Journal of Economic Psychology, 16(3), 449-449.

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