U.S. MEDIA'Groupthink' in Colorado Springs and Boulder: Is it a problem?
Colorado Public Radio - Feb 03, 2015 - In part, you end up in a new book by behavioral science professor Reid Hastie of the University of Chicago Booth School of Business and Harvard law professor Cass Sunstein. It's called "Wiser: Getting Beyond Groupthink to Make Groups Smarter." (Features audio of interview.)
Does Finance Do Any Good for Society?
The Atlantic - Feb 05, 2015 - Luigi Zingales, a professor of finance at the University of Chicago’s Booth School of Business, has been studying the public’s post-recession loss of faith in the financial sector. In a speech delivered in early January at the annual meeting of the American Finance Association, Zingales argued that academic economists' views on the financial sector are too rosy in comparison to the public's mistrust.
University of Chicago's Hurst on Jobs Report, Fed (Audio)
Bloomberg Radio - Feb 06, 2015 - The Bloomberg Advantage with Kathleen Hays and Vonnie Quinn.
Anxious Leaders 'Make Better Decisions'
Forbes - Jan 30, 2015 - Cass R. Sunstein is the law professor who with economist Richard Thaler introduced the world to “nudge”, a concept that they say shows how governments and other organizations can encourage individuals to make better decisions. ... Now back in academe, Sunstein is still thinking about how people make decisions and with a new co-author, Reid Hastie, a professor of behavioral science at the University of Chicago, has published a book that claims to challenge the notion that decisions made by groups are better than those made by people on their own.
No Outside Challenges to a Strong Dollar: Kroszner
Bloomberg TV - Feb 03, 2015 - Chicago Booth School Professor of Economics Randall Kroszner talks with Tom Keene about the strength of the U.S. dollar and the possibility of a currency war. He speaks in today's "This Matters Now" on "Bloomberg Surveillance."
A Solo Traveler's Guide to Meeting People
New York Times - Feb 03, 2015 - "It's easy to imagine all the ways things will go badly or believe that this person doesn't want to connect," said Nicholas Epley, a professor of behavioral science at the University of Chicago Booth School of Business. But if you reach out, he continued, "almost everybody reaches back."
Leadership lessons from Seahawks' Super Bowl fail: Own it and grow
Chicago Tribune - Feb 03, 2015 - "I immediately turned to my husband and said 'Why did he do that?'" said Ellen Rudnick, executive director of the Polsky Center for Entrepreneurship at the University of Chicago's Booth School of Business.
Meet the 80-Year-Old Whiz Kid Reinventing the Corporate Bond Market
Bloomberg - Feb 02, 2015 - Forty-four years ago, John "Mac" McQuown applied the theories of economists William Sharpe, Eugene Fama, Fischer Black and Myron Scholes to invent the first equities index portfolio. ... "Mac's one of those guys who's been very influential behind the scenes," says David Booth, a billionaire who donated $300 million to what became the University of Chicago Booth School of Business in 2008. (Quotes Professor Eugene Fama and alumnus David Booth, and references former professor and alumnus Myron Scholes and former professor Fisher Black.)
Big Oil cuts back, but not on dividends
Marketplace - Feb 02, 2015 - Douglas Skinner, professor of accounting at the University of Chicago Booth School of Business, says once companies start paying a dividend, they're unlikely to reverse themselves, because investors not only depend on them but see them as a signal of stability. (Features audio of interview.)
How to Trick Yourself Into Meeting Deadlines
Fast Company - Feb 17, 2015 - Research by Chicago Booth PhD candidate Yanping Tu and Dilip Soman of the University of Toronto’s Rotman School of Management published in the Journal of Consumer Research shows the key to motivating yourself to start working on a task may be picking the right due date. It turns out meeting our deadlines requires changing the way we think about time.
US job openings increase to fresh 14-year high; job quits, hiring also climb
U.S. News & World Report - Feb 10, 2015 - Job vacancies have soared 29 percent in the past year, a sizzling pace. That raises questions about why they aren't being filled more quickly. Steven Davis, an economist at the University of Chicago, has calculated that employers took an average of 25.6 working days to fill openings in November, the latest data available. That's near the 26 days in July, the most in the 14 years of JOLTS data that Davis uses.
Companies add even more hoops to an already dizzying job hunt
Fortune - Feb 09, 2015 - Landing a new job has become even more of an obstacle course than it was before, as employers extend the length and rigor of their hiring process. Steven Davis, an economics professor at The University of Chicago Booth School of Business, says companies have a financial incentive to be more selective in hiring because it’s harder—legally—to get rid of employees than it’s been in the past.
U.S. News & World Report - Feb 09, 2015 - When responses are weighted based on each expert's confidence in their answer, 96 percent of prominent economists polled as part of the IGM Panel at the University of Chicago Booth School of Business disagree that cutting taxes can raise government revenue, the so-called Laffer Curve; the other four percent are uncertain. Research by economists Paola Sapienza and Luigi Zingales is referenced.
What Happens When Wives Earn More Than Husbands
NPR - Feb 08, 2015 - Well, there's some research. So in 2013, the University of Chicago Booth School of Business published a paper that looked at 4,000 married couples in America. (References research by Marianne Bertrand and Emir Kamenica.)
Are CEOs That Talented, or Just Lucky?
The New York Times - Feb 07, 2015 - The divorce of the oil billionaire Harold G. Hamm. the chief executive and founder of Continental Resources, from Sue Ann Arnall raises a fundamental question about the wealth of executives and entrepreneurs: How much do they owe their fortunes to skill and hard work, and how much comes from happenstance and luck? “Within any industry, a more talented management team is going to tend to do better,” said Steven Neil Kaplan of the University of Chicago Booth School of Business. “That is why investors and boards of directors look for the best talent to run their companies.” Also in CNBC.
Staples-Office Depot Merger: Regulators May Make It Too Easy
Bloomberg Business - Feb 13, 2015 - Dennis Carlton, an economist at the University of Chicago Booth School of Business and a former regulator, warns that tougher standards could inadvertently kill some deals that benefit consumers: “It is not possible to stop just ‘bad’ mergers,” he says.
Rethink Your After-Work Routine to Make the Transition Home a Happy One
The Wall Street Journal - Feb 10, 2015 - When stressed from work, taking a bus or train home provides time to relax or read. A recent study by Nicholas Epley, John Templeton Keller Professor of Behavioral Science at the University of Chicago Booth School of Business, found chatting with strangers can lighten one’s mood. Most commuters, though, are reluctant to try it.
How Many Women Earn More Than Their Husbands?
FiveThirtyEight - Feb 05, 2015 - In 2013, the University of Chicago Booth School of Business published a paper that looked at 4,000 U.S. married couples who responded to the National Survey of Families and Households. It found that when the wife was the higher earner, the chances that the couple would report being in a “happy” marriage fell by 6 percentage points. Couples in which the wife earned more were also 6 percentage points more likely to have discussed separating in the past year. (References research by Marianne Bertrand and Emir Kamenica.)
Wobbly Policies Make For a Shaky Economy
Wall Street Journal - Feb 05, 2015 - Expiring tax provisions form a major component of a leading measure of economic-policy uncertainty that researchers at Stanford, the University of Chicago and Northwestern have created. ... University of Chicago researchers, in multiple papers, have shown that political uncertainty makes stocks more volatile and leads investors to demand a risk premium for investing in equities; the effects even extend to options pegged to market indices. (References research by Steven Davis, and Bryan Kelly, Lubos Pastor and Pietro Veronesi.)
What ‘Gangnam Style’ can teach us about the Psychology of investing
PBS Newshour - Feb 05, 2015 - Paul Solman: Market efficiency is the theory for which University of Chicago economist Eugene Fama shared the Nobel Prize in 2013.
Why You Should Be Happy VCs Are Ignoring You
Inc. - Feb 06, 2015 - A working paper from Elizabeth Pontikes, of the University of Chicago Booth School of Business, and William Barnett, of Stanford University Graduate School of Business, argues that really, venture capitalists have no idea what the next world-changing ideas are going to be. In fact, they found, companies that are in neglected market segments, with little investment activity, actually have a better chance of success than companies in niches that get loads of venture capital.
Obama's Foreclosure Relief Program Was Designed to Help Bankers, Not Homeowners
BillMoyers.com - Feb 14, 2015 - But bank bailouts were just as difficult to negotiate, says Amir Sufi, professor of finance at the University of Chicago's Booth School of Business. "Those programs got done," Sufi says. "Programs to help homeowners never did." (This article also appears in American Prospect magazine.)
Diving Back Into the Intern Pool Before B-School
Wall Street Journal - Feb 04, 2015 - Soon after Andrew Edelman, 29, accepted his offer of admission at University of Chicago’s Booth School of Business, he moved from Charlotte, N.C., to Chicago with his wife and young son. There, the former banker accepted an unpaid internship at Vintage Stories Inc., a startup founded by a Booth classmate to record and digitize memories of the elderly.
Q&A: Explaining ‘Audit the Fed’
Wall Street Journal - Feb 17, 2015 - A survey of big-name economists by the University of Chicago’s Booth Graduate School of Business found not one supported the proposition that GAO audits of monetary policy "would improve the Fed’s legitimacy without hurting its decision-making."
The Incredible Allure of Long Lines
Inc. - Jan 30, 2015 - Another study conducted by the University of Chicago's Booth School of Business and quoted in The Atlantic, which recently examined long lines, found that if customers believe what they're waiting for is worth it, they'll gladly put up with the hassle. In fact, sometimes just the act of waiting gets them jazzed up.
MEDIA OUTSIDE THE U.S.People act wiser in scarcity
The Indian Express - Feb 14, 2015 - "When money is short, the utility bill and rent payment are on the top of one’s mind," said lead researcher Anuj Shah of the University of Chicago. This makes trade-offs particularly salient. After all, paying for one thing means we can’t pay for something else. (This article was written and distributed by the Indo-Asian News Service and received wide coverage.)
The rise of the entrepreneur-in-residence
The Financial Times - Feb 08, 2015 - Mark Tebbe has been a regular fixture at The University of Chicago’s Booth School of Business where he mentors students and provides what he calls “a link to the real world” for academics as an entrepreneur-in-residence. “I am enjoying it so much,” he says, having taken on the role when he was approaching 50 and eager to give something back to the city where his start-up was born. Bob Rosenberg, director of entrepreneurship programmes at the Polsky Center for Entrepreneurship at Booth is also quoted.
Athens must stand firm against the eurozone’s failed policies
Financial Times - Feb 15, 2015 - John Cochrane, a conservative economist at the University of Chicago, also wants the Greek government to print IOUs. They would be electronic money, not necessarily cash and would be used to pay pensions and other transfer payments. (Washington Post cites and links to this article.)
Rekindling the Spark … With Your Job
Ignites - Feb 16, 2015 - Burnt-out workers looking to "reboot" can pick up quick, new projects, says Michael Gibbs, an economics and human resources professor at the University of Chicago Booth School of Business.
European Union baulks at Greece game of chicken
The Australian - Jan 30, 2015 - Contrary to most reporting, John Cochrane, a finance professor at the University of Chicago, says Greece could default on its debts and remain in the eurozone. “If Microsoft or Indiana defaults, they don’t stop using the dollar — and the EU was set up in the same way, i.e. sovereign debt would be much like corporate debt,” he says.
RBI has smoothed over investors’ feathers. But what about sarkari torpor?
The Economic Times - Jan 16, 2015 - Raghuram Rajan spent much of his professional career at the University of Chicago, where Friedman and his acolytes reigned.
NUS Business School, Chicago Booth team up to hold executive education programmes
The Hindu BusinessLine - Feb 17, 2015 - The National University of Singapore (NUS) Business School and the University of Chicago Booth School of Business (Chicago Booth) will team up to develop human capital for Asia's dynamic economies and corporations through a series of executive education programmes for business leaders. (Article appears in numerous other publications.)
South China Morning Post - Feb 06, 2015 - There is some dismay at the design of the University of Chicago Booth School of Business that is being planned for the Victoria Road ex-detention centre in Pok Fu Lam. The heritage site comprises three grade-three historic buildings.
ALUMNIMeet the dean: Andrew Ainslie, University of Rochester, Simon
Financial Times - Feb 06, 2015 - Andrew Ainslie also worked in the UK and Brazil before deciding to study for a PhD in marketing and statistics at the University of Chicago when he was 32 years old.
If you like piña coladas, getting stock tips in the rain
CNBC - Feb 13, 2015 - Dave Gomel and Aziz Lalljee, two University of Chicago School of Business graduates, co-founded Finom last year after swapping horror stories about advisor referrals they had received from friends and family. "We thought this was the gold standard for how to find an advisor, and then we had these terrible experiences, where we had risks on the table that we didn't think should be taken," Gomel said. "It was a big disconnect."
Business School Still Best Path To Executive-Level Jobs
BusinessBecause - Feb 17, 2015 - This includes Satya Nadella, Microsoft’s CEO, who graduated from Chicago's Booth School of Business, and drugs giant AstraZeneca’s chief executive Pascal Soriot, who graduated from the MBA at HEC Paris.
Here's How New Petrobras CEO Stacks Up Against His Global Peers
Forbes - Feb 06, 2015 - John Watson, CEO of Chevron: His educational background is in agricultural economics, but his MBA comes from the famed University of Chicago School of Business.