S5E5: Ying Zeng - Ratings, Risk and the Psychology of Choice

On this episode of the Leeds Business Insights podcast, host Claire Stewart speaks with Ying Zeng, assistant professor of marketing at the Leeds School of Business, to unpack the hidden biases and mental shortcuts that shape consumer decision-making.Ying explains why tasks feel most exhausting near completion—because people track percentage completed rather than total effort—and suggests batching chores to experience this "end drain" only once. She breaks down common online review biases, revealing how price and platform norms distort ratings, and offers practical strategies for making smarter purchases. The conversation also explores AI as an emerging decision shortcut for complex purchases, the hidden appeal of risky products, and why marketers must simplify their messaging for "lazy" consumers. Finally, Ying outlines a framework for distinguishing short-lived fads from lasting market trends.Leeds Business Insights Podcast is a production of Leeds School of Business and is produced by University FM.EPISODE QUOTES:AI as a tool to reduce cognitive burden10:39: If you're very tired with shopping, you probably want to take shortcuts, and that's just human. One shortcut people take is using branding information, brands. People have brands that they trust, and they don't think about other things like price, like other consumer reviews, like the product specifications. There are other shortcuts people use. For example, simply relying on ratings. That's another shortcut that starts when the reputation system establishes. Now we have another shortcut that we can also customize for our own needs, which is AI. So, if you are someone who cares, who has all these principles when you select a product, AI can be a tool to help you reduce these cognitive burdens.On simplifying consumer decisions13:21: Do not overestimate how sophisticated your consumers are. Consumers are lazy. Consumers are not that intelligent. I am lazy. I am stupid. I am a consumer. So, for business and for marketers, the key part for us to design a successful product or to design something that consumers love is to help them simplify their decisions.AI as the next trend20:06: Now I think artificial intelligence is probably the next trend because it has all the features of what we call general-purpose technologies. It has this feature of potentially nurturing new industries, potentially nurturing new ideas, and it has this feature of potentially having this feedback loop of reinforcing itself.SHOW LINKS:Episode TranscriptYing Zeng | Leeds School of Business ProfileYing Zeng | Personal WebsiteGoogle Scholar Page