U.S. MEDIARichard Thaler and the Human Side of Economics
Bloomberg View - Jun 16, 2015 - This week in our Masters in Business radio podcast, we speak with the man known as the father of behavioral economics, Richard Thaler professor at the University of Chicago Booth School of Business. He is perennially on the short list of potential Nobel Prize recipients in economics. (Interview also appears on The Big Picture.)
WBUR-FM (Boston Public Radio) - Jun 16, 2015 - Richard Thaler is one of the fathers of the decades-old study of behavioral economics that rejected the rational choice theory that people behave according to rational economic models. Thaler, a professor of behavioral science and economics at The University of Chicago, has a new book out called "Misbehaving: The Making of Behavioral Economics." (Interview also appears on Oregon Public Broadcasting.)
Slate - Jun 10, 2015 - "But my colleagues and I have recently found that the poor outperform the rich at some financial decisions. Under poverty, people develop a unique expertise." ... Anuj Shah is a cognitive psychologist and an assistant professor of behavioral science at the University of Chicago Booth School of Business. (Op-Ed written by Anuj Shah.)
Bloomberg View - Jun 15, 2015 - India's Raghuram Rajan is an outlier in Asia. Whereas other central bankers in the region are pumping ever-more air into asset bubbles ... Rajan has taken a go-slow approach. It's to Rajan's credit, and India's benefit, that he has shown such discipline. ... Instead, Rajan, a savvy University of Chicago economist, has been holding Indian Prime Minister Narendra Modi's feet to the fire.
Chicago Tribune - Jun 12, 2015 - Surprise, Hitchcock said, is never showing that bomb; the result is 15 seconds of shock when it detonates. Suspense is showing it; the result is 15 minutes of delicious tension. Emir Kamenica and Alexander Frankel of the University of Chicago find that theory interesting. But they have another formula for suspense: Suspense t = (E t [(µ¿ t+1 - µ t)²])½. (Article also appears in other Tribune Publishing papers.)
WBEZ-FM 91.5 - Jun 02, 2015 - Since coming into office, Mayor Emanuel has been pushing to make Chicago one of the nation's major tech hubs. But have we succeeded in becoming a so-called "Nerdopolis?" Amy Merrick is one of the authors of the article, "Welcome to Nerdopolis", this summer's cover article for Capital Ideas, the research magazine for The University of Chicago's Booth School of Business. She joins us to discuss the state of tech in Chicago.
Chicago Tribune - Jun 12, 2015 - On Saturday, June 6, 2015, I moderated a discussion between Ben Baldanza, the president and CEO of Spirit Airlines, and John Paul Rollert, adjunct assistant professor who teaches ethics at the University of Chicago Booth School of Business. It took place in front of an audience at UChicago's Gleacher Center near Tribune Tower. The event was inspired by Rollert's article in the April 16, 2015 New Republic headlined, "Dispirited A business school professor studies the world's worst airline."
Wall Street Journal - Jun 05, 2015 - "The daunting realization is that we don't know what the hell we're doing in most fields of life, especially the ones that involve people," says Richard Thaler, professor of behavioral science and economics at the University of Chicago Booth School of Business and author of the new book "Misbehaving: The Making of Behavioral Economics." He adds, "The alternative to guessing is to run experiments."
Crain's Chicago Business - Jun 05, 2015 - The company, launched five years ago by Coco Meers, an MBA student at University of Chicago's Booth School of Business, raised about $1 million and has about a half-dozen employees, all of whom are joining Groupon.
Talks at Google - Jun 04, 2015 - Richard H. Thaler is the Ralph and Dorothy Keller Distinguished Service Professor of Behavioral Science and Economics and the director of the Center for Decision Research at the University of Chicago's Graduate School of Business. (Video also appears on Value Walk.)
Bloomberg TV - Jun 04, 2015 - University of Chicago Booth School Professor Richard Thaler discusses the debate over behavioral and rational economics. He speaks on "Bloomberg Surveillance." (Source: Bloomberg)
Bloomberg TV - Jun 04, 2015 - University of Chicago Booth School Professor Richard Thaler discusses his book "Misbehaving." He speaks on "Bloomberg Surveillance." (Source: Bloomberg)
Seeking Alpha - Jun 04, 2015 - Today we are fortunate to have a guest contribution by Michael Weber, assistant professor at the University of Chicago's Booth School of Business. This post is based upon a paper, co-authored with Francesco D'Acunto and Daniel Hoang. (Op-ed originally written for Econbrowser.)
Chicago Tribune - Jun 04, 2015 - Chicago's blossoming tech community and a political environment that has become more eager to encourage entrepreneurs likely hastened the new business creation, said Steven Kaplan, professor of finance and entrepreneurship at the Polsky Center for Entrepreneurship and Innovation at Chicago Booth. (Article also appears across Tribune Publishing newspapers.)
Univision - Jun 12, 2015 - A new study from the University of Chicago says group discussion could function as a more reliable lie detector that what an individual can perceive. Are there signs to detect a lie? We spoke exclusively with the expert who conducted the research. ... The study, led by Nicholas Epley, of the University of Chicago Booth School of Business, was based on four experiments that demonstrated the great advantage that group discussions can play in detecting lies.
Washington Post - Jun 16, 2015 - But Steven J. Davis, an economics professor at the University of Chicago's Booth School of Business and one of the creators of the vacancy duration metric, says it's unclear how a widespread skills mismatch, if one exists, would actually affect wages. (Syndicated column also appears in the Salt Lake Tribune.)
Bloomberg View - Jun 16, 2015 - One 1976 academic paper in particular gets a lot of the credit or blame for this shift: “Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure,” by Michael C. Jensen and William Meckling, two proud products of the University of Chicago economics tradition who at the time were at the University of Rochester. ... In a paper published in 1998, though, University of Chicago finance professors Raghuram Rajan and Luigi Zingales pointed out a problem. (Jensen is a Booth alumnus.)
MarketWatch - Jun 05, 2015 - To see this idiocy proven in experiment after experiment, read Richard Thaler's excellent new book "Misbehaving," on the development of behavioral economics and the debunking of any notion that economic actors can be assumed to be rational. Or just walk outside. But the most depressing takeaway from the work of Thaler, and fellow behavioral economists such as Daniel Kahneman, author of the "Thinking Fast and Slow," is that reading such works, and learning about our various cognitive biases and hiccups, is unlikely to make us any less stupid in our financial lives.
Poets and Quants - Jun 11, 2015 - Guy Tartakovsky, University of Chicago, Booth School of Business: An investor needs to be disciplined and dedicated. And Guy Tartakovsky has these qualities in spades. An aspiring investor, Tartakovsky was Booth’s recipient of the Carlton Fellowship, a merit-based, full-tuition scholarship for exceptional academic and leadership achievements.
Quartz - Jun 11, 2015 - A guy who is doing really interesting work on financial markets is Eric Budish at the University of Chicago. What he's been looking at, among other things, is the thickness of the market in minutes and seconds, and then in microseconds. You can have some heavily traded securities, like S&P 500 indices, that are really traded lots and lots. But when you look at the microsecond level, many microseconds can go by with no trades.
Sports Illustrated - Jun 05, 2015 - In the book Scorecasting, University of Chicago behavioral economist Tobias Moskowitz and SI executive editor L. Jon Wertheim calculated the home/road splits of free throw percentages, one category theoretically unaffected by any variable except crowd noise. They concluded that, across two decades, the cumulative free throw percentage of home teams was 75.9%. The percentage for visitors? 75.9%.
AdAge - Jun 02, 2015 - To create a successful futures market, there needs to be a real economic need to hedge risk, an extremely liquid marketplace and volatility driving uncertainty around the pricing of the item, said George Constantinides, a Leo Melamed professor of finance at the University of Chicago's Booth Graduate School of Business. Out of the couple dozen products introduced every year, maybe one to two turn out to be successful, he said. "People are not interested in trading in a product if there isn't a big debate."
The Oregonian - Jun 08, 2015 - I asked Richard Thaler about the differences between Oregon and Washington's plans. As a professor of behavioral sciences and economics at the University of Chicago, Thaler's research on savers' behavior helped convince Congress and President George W. Bush to change laws to allow automatic enrollment in 401(k)s. He's co-author of the book "Nudge: Improving Decisions about Health, Wealth and Happiness."
Boston.com - Jun 08, 2015 - In a study called "Are Emily and Brendan More Employable than Lakisha and Jamal?" Professor Marianne Bertrand of the University of Chicago Booth School of Business and Harvard University’s Professor Sendhil Mullainathan found that white names elicited "about 50% more callbacks than African American names" after they responded to help-wanted ads in Boston and Chicago with resumes using names of imaginary candidates.
Harvard Business Review - Jun 11, 2015 - Where are the 1%? Well, they aren’t all on Wall Street. The University of Chicago economist Steve Kaplan has found that they’re also entrepreneurs, senior executives, and the icons of media, entertainment, sports, and law. If the top 1% are stars of a sort, they look up to superstars who have seen even bigger increases.
TechCrunch - Jun 03, 2015 - A new study by the University of Chicago Booth School of Business discovered that people found job candidates more appealing when they heard their pitch versus when they read it — even though it was the same pitch. "In addition to communicating the contents of one’s mind, like specific thoughts and beliefs, a person's speech conveys their fundamental capacity to think — the capacity for reasoning, thoughtfulness, and intellect," said Chicago Booth professor Nicholas Epley.
The Week - Jun 03, 2015 - If you're looking for a quick fillip, recent research by University of Chicago economist Owen Zidar finds the "stimulative effects of income tax cuts are largely driven by tax cuts for the bottom 90 percent." Also, the link between job growth and tax changes for upper-income earners appears to be "weak to negligible" over the business cycle.
Pensions and Investments - Jun 16, 2015 - "The clash of civilization within Islam" is creating "inevitable chaos" that is likely to continue, said Marvin Zonis, professor emeritus, Booth School of Business, University of Chicago. Mr. Zonis said it is unlikely the U.S. will be able to "destroy or degrade the Islamic State in Iraq and Syria," adding there is a real possibility that "we are going to have to live with an actual ISIS state in parts of Iraq and Syria."
Bloomberg News - Jun 10, 2015 - In an interlude between the Bundesbank and his move to the private sector in 2012, Weber taught at the University of Chicago -- academic home of Nobel Prize-winning economist and monetarism-founder Milton Friedman. His theory maintains that the quantity of money in an economy is the main determinant of incomes and inflation.
City Journal - Jun 15, 2015 - In their 2014 book, House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again, Princeton economics professor Atif Mian and University of Chicago finance professor Amir Sufi explain why the recovery was never going to be like a typical postwar business cycle, with a quick bust followed by a strong boom.
The Conversation - Jun 03, 2015 - I have been exploring this extraordinary episode in US banking history with two other researchers, Gregor Matvos and Amit Seru, both of the University of Chicago. We wanted to find out what happened to banks when they were sold, who bought them and why, and what the implications might be for public policy. To do this, we compiled information on all FDIC bank sales from 2007 to 2013 and analyzed the data using probability models and other methods.
Bloomberg - Jun 12, 2015 - Austan Goolsbee: Because he is one of the best-known economics professors at the University of Chicago's Booth School of Business, as well as a former chairman of the Council of Economic Advisers and a member of President Obama's cabinet, these are destined to be great recommendations. Goolsbee's three must-reads include one about debt, one about technology, and one on religion.
ChicagoInno - Jun 12, 2015 - It's called ExplORer. The iPad-based digital platform developed by surgeons and business students at the University of Chicago acts like a "surgical playbook" that lays out step by step instructions and necessary tools for a procedure. ... ExplORer has been in beta testing at University of Chicago's hospital since February. Already the team has raised over $350,000 to develop ExplORer further, including a $225,000 grant from the National Science Foundation and $50,000 at UChicago's New Venture Challenge last month. Their win at NVC also landed them in Pritzker Group's fellowship program, which puts them in the running for extra funding. (Article quotes student Jennifer Fried.)
Chicago Tribune - Jun 10, 2015 - Will Clark, a student at the university's Booth School of Business, led the winning team. Before coming to Booth, Clark worked for the International Monetary Fund where he helped economists in developing countries learn complex modeling software. He said that's where he got the idea for Open Macro.
Poets and Quants - Jun 02, 2015 - The highest median salaries didn’t go to MBA students at Harvard, Stanford, or Wharton, but rather the University of Chicago’s Booth School of Business. Boothies commanded mostly median bases of $8,200 in their internship jobs–$1,400 a month more than MBAs at Stanford and more than $700 a month more than Harvard MBAs.
Epoch Times - Jun 08, 2015 - After their product was launched, they moved on to another "village"—at the University of Chicago, and with that college community's help, these young entrepreneurs appeared on the television show "Shark Tank," where a group of high-powered investors get pitched by budding entrepreneurs. (Article includes comments from Chicago Booth student Andrea Sreshta, and mentions the Social New Venture Challenge.)
ChicagoInno - Jun 15, 2015 - These 10 startups are part of University of Chicago Polsky Center's summer accelerator program, which takes UChicago-affiliated startups and offers them the funding, mentors, and workspace typically seen in a startup accelerator.
Chicago Tribune - Jun 02, 2015 - Techweek Chicago announced its "Techweek100" for 2015 on Tuesday, naming a list that includes a significant increase in women. ... Here is this year's list: John Flavin, executive director, University of Chicago — Chicago Innovation Exchange; Steve Kaplan, professor / faculty director, University of Chicago — Booth School of Business; Ellen Rudnick, executive director, University of Chicago — Polsky Center for Entrepreneurship; Craig Wortmann, clinical professor of entrepreneurship, University of Chicago — Booth School of Business.
MEDIA OUTSIDE THE U.S.
BBC Radio - Jun 15, 2015 - If it all seems a little irrational, Richard Thaler, economics professor at the University of Chicago Booth School of Business, explains why. He is the author of a book called Misbehaving, which says economics is not a hard science like mathematics, despite efforts in the 1970s to make it so.
BBC News - Jun 10, 2015 - The University of Chicago's Booth School of Business decided to relocate its campus from Singapore to Hong Kong in order to be situated closer to the China market. William Kooser, the associate dean of global outreach at the University of Chicago said their lease in Singapore was expiring this year and that their strategy came up for review.
ETRetailer.com - Jun 15, 2015 - Brick-and-mortar stores will have to find a way to combat the benefits that online retailers provide if they want to stay in business, said Pradeep K Chintagunta, professor of marketing guru at the University of Chicago Booth School of Business who researches household purchase behaviour.
Mint - Jun 08, 2015 - A new research paper by economists Jeffery Ely of the Northwestern University and Alexander Frankel and Emir Kamenica of the University of Chicago aim to address this gap. The trio show how the tools of information economics can be deployed to understand the value of suspense and surprise in our life. "When we recognize that the capacity to surprise an audience is a scarce resource ('You can't fool all of the people all of the time'), it becomes natural to use economic theory to optimize that resource," wrote Ely, Frankel and Kamenica in an article explaining their findings.
Financial Times - Jun 05, 2015 - Take the work of Richard Thaler, a behavioural economist at the University of Chicago. Rational theories of economics would suggest that if we were to win early on at a night in the casino, we would treat this money no differently to any other in our pocket. Thaler, however, showed that we see such winnings as the house's money rather than our own, and are therefore likely to keep on making large bets.
India Today - Jun 05, 2015 - As a young boy studying in Delhi's prestigious Delhi Public School, R.K. Puram, Raghuram Rajan, when asked what his ambition in life was, would say: "I want to be the Prime Minister of India". ... He retains his email id from the Booth School of Business, University of Chicago, where he taught before he came back to India in 2012. He married his IIM classmate, Radhika Puri, who is now a Lecturer in Law at University of Chicago Law School.
Metro - Jun 15, 2015 - Research from the University of Chicago's business school found that there was a consistent group advantage while figuring out both teeny little white lies and whopping great untruths told for personal gain. Lead author Nicholas Epley said: 'This group advantage seems to come through the process of group discussion rather than a statistical aggregation of individual opinions.'
LiveMint - Jun 16, 2015 - India's Raghuram Rajan is an outlier in Asia. Whereas other central bankers in the region are pumping ever-more air into asset bubbles ... Rajan has taken a go-slow approach. It's to Rajan's credit, and India's benefit, that he has shown such discipline. ... Instead, Rajan, a savvy University of Chicago economist, has been holding Indian Prime Minister Narendra Modi's feet to the fire.
Education Post - Jun 15, 2015 - To gauge how consumers are affected by heteroscedasticity, Chicago Booth's Ann L. McGill, along with University of Colorado's Bart de Langhe, Erasmus University’s Stefano Puntoni, and Cornell University's Stijn M. J. van Osselaer, asked participants to look at the kinds of price listings and quality ratings that you’d see on a website such as Yelp.
VoxEU.org - Jun 10, 2015 - Theory suggests that higher inflation expectations increase the likelihood that people will buy durable goods. This column presents evidence showing that this works for more educated, working-age, high-income, and urban households. (Op-Ed co-written by Michael Weber. Article also appears on LaVoce.info.)
Livemint - Jun 09, 2015 - To take an example from physics, while particle behaviour at the sub-atomic level is unpredictable, in the aggregate the physical world functions according to natural, immutable laws. Might not the same apply to human behaviour? Is human behaviour in the aggregate rational and profit maximizing as Adam Smith assumed, or subject to some subconscious, almost Freudian urges as recently underscored by behavioral economists such as Chicago Booth's Richard Thaler and Cass Sunstein?
The Globe and Mail - Jun 15, 2015 - Stephen Foerster and Alessandro Previtero of the University of Western Ontario, Brian Melzer of Northwestern University and Juhani Linnainmaa of the University of Chicago found Canadian financial advisers encourage clients to take on more risk than they otherwise would.
The Guardian - Jun 04, 2015 - "The quasi-governmental players are powerful and like octopuses over the Iranian economy," says Marvin Zonis from the University of Chicago's Booth School of Business. "Nonetheless, major foreign firms will work out relations with many of them which are eager for greater efficiencies… But the underlying culture is not likely to change anytime soon. Nor is the country’s closed political structure."
BBC Indonesia - Jun 16, 2015 - Booth School of Business of the University of Chicago decided to move its campus from Singapore to Hong Kong to be closer to the Chinese market. William Kooser, vice dean global reach at the University of Chicago said their lease contracts in Singapore will run out this year and that their strategy is to be reviewed.
Epoca Negocios - Jun 15, 2015 - There are many variations on the theme capitalism. Two of them, however, are under the magnifying glass of Italian economist Luigi Zingales, professor at the University of Chicago Booth School of Business.
Sohu - Jun 15, 2015 - A new study by the University of Chicago Booth School of Business discovered that people found job candidates more appealing when they heard their pitch versus when they read it — even though it was the same pitch. "In addition to communicating the contents of one’s mind, like specific thoughts and beliefs, a person's speech conveys their fundamental capacity to think — the capacity for reasoning, thoughtfulness, and intellect," said Chicago Booth professor Nicholas Epley.
The Telegraph - Jun 12, 2015 - An article in the Journal of Political Economy by academics Mark Aguiar, from Princeton, and Erik Hurst, at the University of Chicago, found that older people spend differently – partly because they have more time to do things such as make meals at home rather than buy fast food, and partly because they do not have to buy work clothes and spend money commuting.
People's Daily - Jun 12, 2015 - China's Hong Kong Chief Executive Leung Chun-ying promoted Hong Kong as a super-connector to link up the mainland and other places during his visit in Chicago. ... Leung concluded his Chicago visit on June 11 (Chicago time) where he met with University of Chicago President Professor Robert Zimmer and talked with the institute's Booth School of Business Dean Professor Sunil Kumar. (Xinhua article picked up by multiple outlets, including Shanghai Daily.)
The Economic Times - Jun 12, 2015 - "We find a consistent group advantage for detecting small 'white' lies as well as intentional, high-stakes lies told for personal gain," said one of the researchers Nicholas Epley, professor at the University of Chicago Booth School of Business in the US. (Article syndicated by IANS, picked up by Yahoo! Finance India, The Hans India and other outlets.)
The Daily Star - Jun 11, 2015 - Raghuram Rajan, the governor of the Reserve Bank of India, said, "We need stronger well-capitalised multilateral institutions with widespread legitimacy, some of which can provide patient capital and others that can monitor new rules of the game." ... A finance professor at the graduate business school at the University of Chicago, Rajan thinks the current non-system in international monetary policy is a source of substantial risk, both to sustainable growth as well as to the financial sector.
Daily Star - Jun 10, 2015 - Raghuram Rajan, governor of the Reserve Bank of India (RBI), will deliver a public lecture on "Going bust for growth: policies after the global financial crisis" at Le Meridien hotel in Dhaka tomorrow. ... He is on leave from the University of Chicago, where he is the distinguished service professor of finance at the Booth School.
Canadian Business - Jun 10, 2015 - The man who coined the phrase "overclaiming" is Nicholas Epley, a professor of behavioral studies at University of Chicago's Booth School of Business. In 2006, he put the idea to the test by asking authors of psychology journal articles how much of the workload they felt they had themselves done on finished articles they'd published with others. The ultimate total: 140%.
Times of India - Jun 08, 2015 - "Unethical behaviour is rampant across various domains ranging from business and politics to education and sports," said Ayelet Fishbach, behavioural science and marketing professor at University of Chicago's Booth School of Business. (Article also appears in Business Standard.)
Challenges Magazine - Jun 08, 2015 - The global hierarchy is changing: the Harvard MBA is not at the top of the undisputed class. The University of Chicago Booth School of Business is now recognized as the best for BusinessWeek and The Economist. (Challenges Magazine ranks Booth No. 1 among international MBA programs.)
Crain's Chicago Business - Jun 02, 2015 - Bryan Johnson made his fortune helping fast-growing web and mobile companies such as Uber take credit cards. ... “I couldn't be happier,” said Johnson, who was back in town last week to judge the New Venture Challenge, a business plan competition at his alma mater, the University of Chicago's Booth School of Business. "I didn't know what kind of deals we'd find, if I could add value, what it would be like to work with these entrepreneurs. It's been a ton of fun."
Bloomberg - Jun 16, 2015 - The five candidates are Deputy Governors Paiboon Kittisrikangwan and Tongurai Limpiti, the only woman; Veerathai Santiprabhob, a former executive at Siam Commercial Bank Pcl and the Stock Exchange of Thailand; Supavud Saicheua, managing director of Phatra Securities; and Kiatchai Sophastienphong, a former BoT director, according to local media reports. ... Paiboon, 54, was a recipient of a central bank scholarship, with which he earned his bachelor's degree from the London School of Economics and a master's from the University of Chicago.
Bloomberg - Jun 16, 2015 - Jonathan Egol and Robert Allard, who both worked with structured products at Goldman Sachs, will start Firebreak Capital this year to provide loans that banks are largely unable to make because of rules put in place since the 2008 financial crisis, according to a statement released Tuesday. ... Egol, who earned an MBA in finance from the University of Chicago, worked at Goldman from 1998 until early last year.
Financial News - Jun 15, 2015 - Stephen Iklé, who runs the long/short equity portfolio of Trium Multi-Strategy, graduated with an international MBA from the University of Chicago in 2000. He said although there are many successful hedge fund managers without an MBA, such an education helps build an in-depth knowledge in the fundamentals of investing – economics, accounting, valuation and portfolio management.
Science Magazine - Jun 11, 2015 - Robert Nelson: I kind of fell into it. When I got to the University of Chicago [for an MBA program], I started volunteering for an organization that eventually became ARCH, and I was the first employee.
Business Insider - Jun 09, 2015 - Which top business schools have the best records of getting their students into the very top jobs at Europe’s biggest listed companies? Listed at #5, The University of Chicago Booth School of Business beats many of the most prestigious schools in Europe — Three CEOs went to Chicago, including Commerzbank and Banco Santander’s bosses. Article also in Business Insider Australia, Singapore and Malaysia.
Challenges Magazine - Jun 08, 2015 - Vincent Duclos, 34, Chicago Booth MBA (2012): "After six years of audit at EY, I felt the need, both professionally and personally, for a new challenge," recalls Vincent Duclos. The dynamism of the city Chicago and prestige of Chicago Booth MBA will quickly convince the young thirty-something ... (Article also appears on Yahoo! Finance France.)
Wall Street Journal - Jun 03, 2015 - Atul Kavthekar on Monday became CFO at LivingSocial Inc., Groupon's Washington-based competitor, a company spokeswoman told CFO Journal. ... He earned a master's of business of administration from the University of Chicago Booth School of Business, a master's degree in industrial engineering from Wayne State University and a bachelor's degree in engineering from the University of Michigan, according to the release.
Chicago Magazine - Jun 02, 2015 - 5. David Booth's University of Chicago Lessons: The University of Chicago's business school is named after him; his investment firm is known as the "applied think tank from the University of Chicago." What did he learn there? Bloomberg View sits down with the chairman of Dimensional Funds Advisors.