Monthly Top Media Coverage for April 2017

U.S. Media

Wall Street to Millennials: Don't fear the stock market
USA Today - Apr 26, 2017
Some behavioral finance pros, or experts who study how psychology affects investment decisions, say young people won’t fear the stock market forever. “I don’t think there is any reason to believe Millennials are more risk averse than other (generational) cohorts,” says Richard Thaler, a professor at the University of Chicago’s Booth School of Business.

Planned Parenthood exec named new CEO of Bright Pink
Crain's Chicago - Apr 24, 2017
All (change of CEO) steps will help the succession work well, says Christina Hachikian, executive director of the Social Enterprise Institute at University of Chicago Booth School of Business and an adjunct associate professor at the school. "The founding CEO needs to give the new CEO room to do the things they were hired to do," Hachikian says, adding that rule applies to for-profit as well as nonprofit firms. It helps that Avner was the one who decided it was time to step aside. "We see founders of nonprofits who persist longer than they should," Hachikian says. "The good ones see when it's time to move on."

Are oligopolies bad for the U.S. economy?
NPR Podcast - Apr 20, 2017
MPR News chief economics editor Chris Farrell spoke with Derek Thompson from The Atlantic and Luigi Zingales,professor at Chicago's Booth School of Business, about the effect oligopoloies - airlines, cellphone carriers, internet providers - have on micro and macro economies in the U.S.

Millennial Women Are ‘Worried,’ ‘Ashamed’ for Out-Earning Boyfriends and Husbands
CNBC/NBC News/InStyle (US and UK) - Apr 19, 2017
Men should be earning more so that they can provide for their families, and if they don't, it's symptomatic of a problem...The laments she has heard are backed up by data, according to Mona Chalabi of She summarized University of Chicago Booth School of Business findings for NPR, saying that, in their sample, dissatisfaction increased, and could lead to divorce, "once a woman started to earn more than her husband."

The scourge of digital ‘guilt-tipping’ could soon be on its way to Uber
MarketWatch - Apr 18, 2017
More companies like Seamless and Grubhub allow tipping on their apps to make it easier for customers to part with their money. And this study shows that when people are presented with three tip choices — 20%, 25% or 30%, for example — they’re more likely to choose the middle option even if it’s more than the traditional 20%, according to one analysis of 13 million New York City taxi rides by the University of Chicago’s Booth School of Business.

How to Trick People Into Saving Money
The Atlantic - Upcoming May Issue
Richard Thaler, an economist at the University of Chicago and one of the field’s pioneers, told The Wall Street Journal in 2015 that saving for retirement is “a prototypical behavioral-economics problem” because it is “cognitively hard—figuring out how much to save—and requires self-control.”

Are Women Punished Harder by the Financial Industry?
Chicago Magazine - Apr 17, 2017
A new working paper, “When Harry Fired Sally: The Double Standard in Punishing Misconduct,” from three professors of finance including the University of Chicago’s Gregor Matvos, takes a clever approach to measuring the presence of gender discrimination in finance: what happens to financial advisers after they commit misconduct?

Why You Trust Email Way More Than You Should
New York Magazine - Apr 17, 2017
Nicholas Epley, a psychologist at the University of Chicago’s Booth School of Business, thinks many people see email as a less anxiety-inducing form of talking. “I have a colleague, for instance, who sits right next door to me,” he says. “If there were no wall I would be poking him in the eye. And he will send me email about stuff."

Tax Cuts Don't Work the Way Free Marketers Expect
Bloomberg - Apr 17, 2017
A recent paper by the University of Chicago Booth School of Business professor Owen Zidar demonstrates the differences between cutting taxes for the well-off and cutting them for those of modest means. He writes, "Tax cuts that go to high-income taxpayers generate less growth than…cuts for low and moderate income taxpayers. In fact, the positive [overall] relationship between tax cuts and employment growth is largely driven by tax cuts for lower-income groups and the effect of tax cuts for the top small."

Indexes Beat Stock Pickers Even Over 15 Years
The Wall Street Journal - Apr 13, 2017
S&P Dow Jones Indices pulls performance data on active funds from a database maintained by the Center for Research in Security Prices, a research and learning center at the University of Chicago Booth School of Business.

Boycotting United Will Never Work. Here’s Why
Bloomberg - Apr 13, 2017
John Kwoka (an economics professor at Northeastern University) was among the speakers at a conference last week titled, “Is There a Concentration Problem in America?” and hosted by the University of Chicago’s Booth School of Business Stigler Center. Attendees discussed how megacompanies are expanding, and not just in the airline industry. But the few carriers that fill up most American airports is certainly the most visible example. “This is not the airline industry an economist interested in competition or a passenger interested in options would want,” Kwoka said. “This is not where we should have ended up.”.

Will a Vote in Congress Strike Down a Plan to Help Illinois Workers Save for Retirement?
Chicago Magazine - Apr 12, 2017
Richard Thaler, an economist at the University of Chicago’s Booth School of Business, and a leading expert on consumer finance, states, “Virtually any employer with more than a few employees has somebody handle their payroll,” he says. “And those guys just add one line of code, and done. So I don’t see this as a big burden, even on a pretty small company.”

United Isn’t Alone in Treating Its Passengers Like Garbage
Fortune - Apr 12, 2017
In an op-ed, John Paul Rollert an adjunct assistant professor at the University of Chicago Booth School of Business, writes "Last week, most travelers thought the only “involuntary bump” they needed to worry about was one from the man in sweatpants on the morning commute. Then on Sunday, United Airlines decided to channel its inner hockey goon and forcibly remove a passenger from a flight at Chicago’s O’Hare Airport. Now travelers everywhere have learned that they need to worry about another type of “involuntary bump,” one that is entirely legal despite of the objections of good sense and common decency."

Is U.S. Tax Reform in 2017 Plausible? 
Bloomberg - Apr 12, 2017
Austan Goolsbee, economics professor at University of Chicago, and Douglas Holtz-Eakin, president of American Action Forum, discuss the difficulty of trying to get tax reform in the U.S. They speak with Bloomberg's Vonnie Quinn and Kevin Cirilli on "Bloomberg Markets." (Source: Bloomberg)

Economists Pen Immigration Letter to Trump and Congress
Bloomberg - Apr 12, 2017
Austan Goolsbee, economics professor at University of Chicago, and Douglas Holtz-Eakin, president of American Action Forum, discuss a letter penned by multiple economist to politicians about the merits of immigration for the U.S. They speak with Bloomberg's Vonnie Quinn on "Bloomberg Markets." (Source: Bloomberg)

The $260 Billion Portfolio Shaped by Bodybuilding, Scripture, and Slow-Thinking
Bloomberg Markets - Apr 12, 2017
An unconventional approach to investing drives Scott Minerd’s outperformance at Guggenheim Partners...Minerd, the son of an insurance salesman, grew up in southwestern Pennsylvania on land his family settled before the Revolutionary War. He quit high school a year early to follow a girlfriend to Philadelphia, where he persuaded the University of Pennsylvania to allow him to take courses at the Wharton School. After earning a degree in economics from Penn in 1980, he took classes at the University of Chicago’s Booth School of Business and then worked as an accountant for Price Waterhouse.

Talking to Your Pets Is a Sign of Intelligence, Study Finds
People - Apr 12, 2017
A new study has found that speaking with your pet is a sign of your intelligence. According to, Nicholas Epley, a behavioral science professor at the University of Chicago who helped carry out the study, found that conversing with pets is one of the many ways humans try to anthropomorphize them, a.k.a. a way we try to make our pets more like us.

The rise of ETFs may be a cause of record-low volatility
CNBC - Apr 10, 2017
"If there is excess volatility due to non-fundamental reasons, eliminating it will result in lower volatility and more efficient markets," Stefano Giglio, associate professor of finance at the University of Chicago's Booth School at Business, wrote to CNBC on Monday.

US job creation misses expectations in March
CNBC - Apr 7, 2017
CNBC's Steve Liesman; Austan Goolsbee, Booth School of Business; and CNBC's Rick Santelli weigh in on the jobs report.

Jobs number could spark 'big rally in bonds'
CNBC/NASDAQ/Yahoo Finance - Apr 7, 2017
Barbara Reinhard, Voya Investment Management; Jeff Rosenberg, BlackRock; Doug Holtz-Eakin, American Action Forum; and Austan Goolsbee, Booth School of Business, weigh in on Friday's jobs report.

Science says you’re probably really smart if you do this one weird thing
Hello Giggles/Yahoo Finance/Cosmopolitan Magazine/Redbook - Apr 7, 2017
Reprint of Quartz article. “Historically, anthropomorphizing has been treated as a sign of childishness or stupidity, but it’s actually a natural byproduct of the tendency that makes humans uniquely smart on this planet’,” Nicholas Epley, a behavioral science professor at the University of Chicago, told Quartz. “No other species has this tendency.”

Happy Meals and Glass-Steagall
Bloomberg - Apr 07, 2017
The short answer is: rarely. Research by University of Illinois’s Petro Lisowsky and Chicago Booth’s Michael Minnis demonstrates that almost two-thirds of medium-to-larger private companies choose not to produce audited GAAP statements.

Mental Pitfalls That Thwart Making Smart Financial Decisions
Forbes - Apr 06, 2017
I first heard the noted American economist and author Dr. Richard Thaler give a speech about something called “behavioral finance” over 20 years ago. It was my introduction to a new field of research in economics.

Accounting cops have tough task of cracking down on corporate fraud 
Chicago Tribune - Apr 06, 2017
Even with new anti-corruption regulations, it's estimated that one out of seven firms suffers from ongoing fraud, according to an August 2014 research paper co-written by Luigi Zingales, a professor at the University of Chicago. (Experts from the University of Toronto and University of California at Berkeley also contributed).

Try mental accounting to make your retirement dreams come true
USA Today - Apr 05, 2017
“Mental accounting is essentially the household equivalent of financial accounting, but it is often done without conscious thought,” says Richard Thaler, a professor at the University of Chicago Booth School of Business and author of Misbehaving: The Making of Behavioral Economics.

Here’s How They Play Monopoly in America, and Who Wins
Bloomberg - Apr 05, 2017
Market concentration has reached a three-decade high and, since the late 1990s, has increased in more than 75 percent of U.S. industries, according to a working paper given last week at the University of Chicago's Booth School of Business.

The Busy Trap: How Keeping Busy Became a Status Symbol
NBC News - Apr 04, 2017
"People dread idleness, and their professed reasons for activity may be mere justifications for keeping busy," University of Chicago professor of behavioral science and marketing Christopher Hsee observed.

Uber's Behavioral Experiment On Drivers May Raise Ethical Questions, But It Is Hardly Unique
Forbes - Apr 03, 2017
These  aren’t totally uncharted waters. The University of Chicago’s Richard Thaler, one of the world’s leading behavioral economists, has suggested in the past where the line between incentivizing and manipulating lies. His take? He advocates “Nudge for good,” when he signs the book Nudge he co-authored with Harvard Law School’s Cass Sunstein.

International Media

Silicon Valley ‘superstars’ risk a populist backlash
Financial Times - Apr 23, 2017
What is perhaps most fascinating about (big companies exerting "monoply type power") is that Silicon Valley has largely escaped the populist anger that Wall Street or cheap Chinese labour has attracted. As University of Chicago professor Raghuram Rajan has pointed out, this may be because the job-disrupting effects of technology are harder to see than those of trade.

Stocks that crush the index, investing in video-game fanatics, and why TransCanada is a buy
The Globe and Mail - Apr 21, 2017
The video game industry is benefiting from a U.S. economic phenomenon that has seen a 10-per-cent decline in the labour force participation rate for males in their 20s, according to the University of Chicago’s Booth School of Business (Erik Hurst). The Economist’s Money Talk’s podcast on April 18 cited research estimating that for these males, 75 per cent of the increase in leisure time is spent on video games.

Podcast: A sweet story
Economist - Apr 18, 2017
The EU is to abolish its quotas on sugar-beet production. Who are the winners and losers? Also: as video games get better and job prospects worse, more young men in America are spending their time in an alternate reality (Erik Hurst research).

Brand names are losing ground to private-label goods, regardless of rising incomes
Livemint - Apr 20, 2017
According to big consumer goods companies, the Great Recession drove people from branded products to cheaper store-brand options—“private-label” products. But research suggests other factors may have played a bigger role.Chicago Booth’s Jean-Pierre Dubé and Günter J. Hitsch, and UCLA’s Peter E. Rossi find a relationship between changes in income and wealth and demand for private-label products—but also find the effect is too small to explain a larger movement away from the Coca-Cola, Frito-Lays and Pampers of the world.

Rajan warns of 'policy uncertainty' for world economy
Financial Express/Daily News & Analysis/The Economic Times/Business Standard/India - Apr 20, 2017
Former RBI governor Raghuram Rajan today warned of "policy uncertainty" for the world economy due to there being a "bunch of new leaders" who need to prove they are strong, even as he exuded confidence about all large economies doing well...In an interview to CNBC, the Chicago Booth School professor and the outspoken economist also said the "good news is some of the fears about the (Trump) administration that it would move immediately to a more protectionist stance haven't played out".

The QS Global 250 Business Schools Report 2017 is Out Now - Apr 18, 2017
(translated) Educational channel of recently translated and posted an article talking about the “QS Global 250 Business Schools Report 2017”. Chicago Booth ranked No.5 in the list of employability and No.7 in the list of research excellence.

The University of Chicago worries about a lack of competition
The Economist - Apr 12, 2017
One sign that monopolies are a problem in America is that the University of Chicago has just held a summit on the threat that they may pose to the world’s biggest Chicago (and elsewhere) a younger generation of scholars, including Luigi Zingales and Raghuram Rajan, are worried that competition is not as vigorous as it used to be.

Yes or No Euro, a serious and constructive debate. Here are the rules
Il Sole 24 Ore - Apr 16, 2017
(translated) In an op-ed, Luigi Zingales asks fellow economists to debate whether Italy should exit from the euro and asks the business newspaper Il Sole 24 Ore to open its pages to contributions from Italian and foreign economists. “ I propose to begin with the first issue, because it is the most important. If monetary independence is not advantageous for Italy, it is difficult to justify an exit from the euro on the basis of a temporary advantage. Conversely, if there are significant benefits from having a national currency, it is difficult to justify keeping the euro in Italy, only on the basis of the transition costs.

Rich Keralite, poor Kerala conundrum
Livemint - Apr 13, 2017
Professor Richard Thaler of The University of Chicago Booth School of Business put forward the concept of mental accounting to explain how humans deal with money. Mental accounting refers to the tendency of people to separate their money into separate mental accounts based on a variety of subjective criteria, like the source of the money and intent for each account.

Third of jobs at risk from rise of robots
The Times - Mar 24, 2017
Some medical diagnostic tests have been automated, eliminating many medical technician jobs, and some nursing tasks have been replaced by machines that monitor patients and dispense medicine, but the nurse’s interaction with the patient is largely impossible to automate, the report’s author, Michael Gibbs, of the University of Chicago Booth School of Business, said. The result of these changes is that a lot of middle-skilled jobs are being lost and those that remain are becoming less rewarding. “Technology makes many middle-skill jobs less intrinsically motivating, with fewer tasks and skills, and more centralisation and monitoring,” Professor Gibbs said.

Best American Business Schools for 2018 - Apr 10, 2017
(translated) also wrote a story on a report by US News, regarding the best American business schools for 2018. Chicago Booth was ranked third, behind Harvard University and University of Pennsylvania (Wharton) who were joint first.

Liberal candidate Felicity Wilson denies misleading about MBA degree 
The Sydney Morning Herald - Apr 8, 2017
"I have recently returned to Sydney from Chicago, Illinois, where I was studying my Master of Business Administration at the University of Chicago Booth School of Business," Ms Wilson's personal summary on LinkedIn reads. While Ms Wilson did spend a semester on exchange at Chicago University as part of her studies at UNSW, she did not take a degree from the Booth School, which The Economist has ranked as the world's most prestigious business school.

How to be a strong LGBTQ ally in the tech startup community
Financial Post - Apr 07, 2017
The LGBT community also fears discrimination in tech; a study conducted by Chicago Booth and StartOut showed that of over 6,000 LGBT founders in the U.S., 37 per cent didn’t come out to their investors.

Science says: you are more intelligent when you talk to your pets
Glamour - Apr 06, 2017
(Translation) The behavioral scientist Nicholas Epley of the University of Chicago tells US news site Quartz proves that talking to creatures you're smart. He explains how this works: Historically, talking to animals was considered childish or seen as a sign of stupidity.

Why people who name and talk to their car are smarter than those who don’t
The Sun - Apr 04, 2017
Behavioral science professor Nicholas Epley described this behaviour – known as form of anthropomorphism – as the thing “that makes humans uniquely smart on this planet”.

We have great news if you like to talk to your pet
Marie Claire - Apr 04, 2017
Not only is your dog even smarter than you think, but talking to an animal isn’t a sign of madness – far from it in fact.Nicholas Epley, professor of behavioural science at the University of Chicago, says that this is totally normal and actually shows a high level of intelligence.

Talking to your dog is a sign of intelligence
The Independent - Apr 04, 2017
Anthropomorphising – giving humanlike tendencies to inanimate objects and animals – is “a natural byproduct of the tendency that makes humans uniquely smart on this planet,” Nicholas Epley, behavioural science professor at the University of Chicago, told Quartz.

Small-caps finally delivering big gains in Hong Kong
Asia Times - Apr 02, 2017
Small caps are often considered to be a cornerstone of modern investment portfolios thanks to Nobel laureateEugene Fama’s work in demonstrating the segment’s long-term upside. The University of Chicago economist published empirical data showing value stocks outperformed growth ones and that within the value segment, those in the bottom 10% of market capitalization beat the broader market by an average of 0.42% per month from 1990 to 2011.

Talking to your pets is a sign of intelligence, science reveals
Country Living UK - Apr 03, 2017
"Historically, anthropomorphising has been treated as a sign of childishness or stupidity, but it's actually a natural byproduct of the tendency that makes humans uniquely smart on this planet," Dr Nicholas Epley, a professor of behavioral science at the University of Chicago said.

If you talk to your pets, you’re not an oddball – it’s a sign of intelligence
Metro UK - Apr 03, 2017
Dr Nicholas Epley, a professor of behavioral science at the University of Chicago told Quartz, "Historically, anthropomorphising has been treated as a sign of childishness or stupidity, but it's actually a natural byproduct of the tendency that makes humans uniquely smart on this planet.

Wall Street is soon only a shadow of itself
Le Temps - Apr 02, 2017
(Translation) Between 1996 and 2016, the number of companies on the US stock exchange was halved, according to a study by Credit Suisse, published at the end of March. They were 4796 in 1976, 7322 in 1996 and more than 3671 last year. The same observation was made by the University of Chicago Booth a few months earlier.

Who's a clever boy! Talking to your pets (and even your car) is a sign of social intelligence, scientists say
Daily Mail - Mar 31, 2017
Dr Nicholas Epley, a professor of behavioral science at the University of Chicago told Quartz, "Historically, anthropomorphising has been treated as a sign of childishness or stupidity, but it's actually a natural byproduct of the tendency that makes humans uniquely smart on this planet.


Russell Reynolds Associates Hires Ben Grover 
PR Newswire/Yahoo Finance - Apr 25, 2017
Russell Reynolds Associates, a leading global executive search and leadership advisory firm, today announced thatBen Grover has joined the firm as a consultant in the Health Services Practice...Grover earned a B.A. in American Studies from Yale University and an M.B.A. from the University of Chicago Booth School of Business.

Linda Bolton Weiser Joins D.A. Davidson Research Team, Adding Consumer Products Coverage
Business Wire/Yahoo Finance - Apr 25, 2017
D.A. Davidson & Co. has announced that Linda Bolton Weiser has joined the firm’s award-winning institutional equity research team in New York to provide analysis of healthy living companies within the consumer products sector...Weiser holds an MBA in finance and marketing from the University of Chicago’s Booth School of Business and a bachelor’s degree in biochemistry from Wellesley College.

First Capital Bolsters Management Team With Appointment Of Chief Financial Officer
PR Newswire/Yahoo Finance - Apr 18, 2017
First Capital Real Estate Trust Incorporated, a Maryland public non-traded real estate investment trust, today announced that Stephen M. Johnson has joined First Capital as Chief Financial Officer. Mr. Johnson received a B.A. in Accounting from Michigan State University and an M.B.A. in Finance from the University of Chicago. He holds FINRA Series 24, 7, and 63 Licenses and is a CFA Level II Candidate.

John M. Holmes Promoted to President & Chief Operating Officer of AAR
PR Newswire/Yahoo Finance/Financial News UK - Apr 18, 2017
AAR today announced that John M. Holmes was elected to President and Chief Operating Officer, AAR Corp., effective June 1, 2017...Holmes earned a bachelor's degree in finance from the University of Illinois and an MBA from the University of Chicago.

Keith Breslauer: Hip-hop playlists fuel Patron MD’s bus ride
Financial Times - Apr 16, 2017
Alumnus Keith Breslauer states, "I grew up in New York pretty poor. I did an MBA at the Booth School of Business, which was a real turning point in my career...On my tablet I have The Telegraph, the Mail Online and blogs. There are several trade magazines related to what I do — Estates Gazette, for example — so I try to cover all of these every week. The Chicago Booth Review is a good read, too."

Career Briefs: Majesco named Ganesh Pai executive VP of Majesco Consulting Services 
India West - Apr 15, 2017
Pai was most recently at Genpact following 17 years at Mphasis and eight years at Wipro. He holds an undergraduate degree from Bangalore University and an M.B.A. from the University of Chicago’s Booth School of Business.

Security On-Demand Announces New Chief Financial Officer
PR Newswire/Yahoo! - Apr 07, 2017
He (William Lyman) earned his MBA from the University of Chicago's Booth School of Business and his Bachelors of Science in Electrical and Electronics Engineering from Marquette University.

Renovate America Announces Appointment of New Chief Financial Officer
PR Newswire/Yahoo! - Apr 04, 2017
(Paige) Wisdom holds a Master of Business Administration from The University of Chicago's Booth School of Business and a Bachelor of Science in math and computer science from the University of Illinois, Chicago.


Machine learning summit to unite futuristic tech-makers with investors
Chicago Tribune - Apr 13, 2017
Cayse Llorens, founder and managing director of the summit, believes the technology has the potential to change the way people interact with everything from email and music to financial planning. “We want to see that spark at this summit that creates the next Uptake, the next Tempus, the next Google, the next IBM Watson," said Llorens, who's also studying venture capital at the University of Chicago's Booth School of Business. "All the key players are going to be in a room to do that.”

What's up your nose may cure what's in your head
Crain's Chicago Business - Apr 13, 2017
The idea that walking in nature is good for your head is not exactly groundbreaking science. But figuring out specifically how outdoor activity alleviates migraines? Now that is. Neurologist Richard Kraig thinks he has made that discovery and now hopes to bottle the effect in a nasal spray...To get his idea into pharmacies, Kraig partnered with Yuan Zhang, a U of C biomedical sciences post-doctoral scholar, to create Seurat Therapeutics. Martin Sanders, a U of C-trained physician and executive chairman of IO Therapeutics, which develops treatments for Parkinson's disease, Alzheimer's and multiple sclerosis, serves as Seurat's chairman. Yang Zheng, a first-year MBA student at U of C's​ Booth School of Business, is helping with the business development side.