Monthly Top Media Coverage for February 2017

U.S. Media

Why Happy Marriages And Relationships Are Key To Healthy And Positive Aging

The Huffington Post - Feb 28, 2017

Beyond the abundance of studies that reveal that happier people are healthier, married or not, a new study announced in 2016 took the information deeper. William J. Chopik from Michigan State University and Ed O’Brien from University of Chicago wanted to know if just living with a happy person could also affect a person’s health in a positive way. They realized from previous research that “social contagion” plays a big part in a person’s well-being, so they wanted to see if something similar occurred with a person’s health.

Austan Goolsbee on Jobs: I Hope Trump Succeeds in Extending the Lead Obama Created

Fox Business - Feb 27, 2017

Former Chairman of the Council of Economic Advisors and University of Chicago Booth School of Business’ Austan Goolsbee discussed the potential U.S. market and economic outlook under President Trump.

CEO Daily: The Best in Business Reading

Fortune - Feb 26, 2017

Videogames Vs. Unemployment: Reprint of New York Magazine article "Why Ever Stop Gaming." In June, Erik Hurst, a professor at the University of Chicago’s Booth School of Business, delivered a graduation address and later wrote an essay in which he publicized statistics showing that, compared with the beginning of the millennium, working-class men in their 20s were on average working four hours less per week and playing video games for three hours.

Why We’re Not Always Resolute With Our Resolutions

WBEZ 91.5 Radio - Feb 24, 2017

The beginning of the New Year is often the ideal time for people to start making changes in their lives by setting resolutions. The first two weeks start off well, but around February research has shown half of those people have not achieved their resolutions. So how do we stick to our goals beyond the first couple weeks? Morning Shift talks to Assistant Professor of Behavioral Science Hal Weitzman about setting realistic goals and successful motivational tips to complete any goals.

In choosing a job, focus on the fun

CNBC - Feb 21, 2017

In a reprint of a New York Times op-ed Ayelet Fishbach, professor of behavioral science and marketing at the University of Chicago Booth School of Business, writes "As a psychology professor at a business school, I have chatted with many unhappy employees. I have found that one big reason people are unhappy at work is that when they choose a job or a project, they are not aware of what will truly matter to them once they are in the midst of it."

Why Ever Stop Playing Video Games

New York Magazine Vulture - Feb 21, 2017

In June, Erik Hurst, a professor at the University of Chicago’s Booth School of Business, delivered a graduation address and later wrote an essay in which he publicized statistics showing that, compared with the beginning of the millennium, working-class men in their 20s were on average working four hours less per week and playing video games for three hours. As a demographic, they had replaced the lost work time with playtime spent gaming.

A top cop and a slain girl's family teach Chicago about the relentless need for organ donors

Chicago Tribune - Feb 21, 2017

France recently adopted the (AMA's "opt-out" system) policy (for organ donors), as have several other European countries. One astonishing stat: In Austria, nearly 99 percent of citizens consent to donate, behavioral economist Richard Thaler wrote in The New York Times in 2009.

Here’s One Reason Why Trump’s Legislative Agenda Is Flailing

Huffington Post - Feb 21, 2017

“It (Obama's economic infrastructure proposal) was the biggest subject of the transition for the economic team,” recalled University of Chicago economist Austan Goolsbee, who also served in the Obama campaign and the administration. “As transition moved [from Chicago] to Washington, there were scores of meetings over all various aspects of the stimulus pretty much every day. Each of the proto-agency teams would come up with ideas … and those ideas would be hammered out in budget meetings and principals meetings, and with the president.”

Opinion Today

New York Times - Feb 20, 2017

Perhaps the smartest piece I’ve yet read on opposing Trump is still a November Op-Ed by Luigi Zingales, talking about the strategies that worked — and did not work — for opposing Silvio Berlusconi in Italy: Treat him like an ordinary politician, not a caricature, and don’t forget how much support he has.

Ask About This in Your Next Interview to Avoid Taking a Job That Makes You Miserable

Inc. - Feb 20, 2017

In a recent piece for New York Times, Ayelet Fishbach describes a study she conducted about worker happiness. The professor of behavioral science and marketing at the Booth School of Business at the University of Chicago conducted the poll with her colleague Kaitlin Woolley. The duo found people wildly underestimate how important it is to land in a job where they actually like the work and people. People tend to think a higher salary will do the trick -- even when money is not the main source of unhappiness in their current position.

China Economic Policy Has Never Been More Uncertain. Sort of.

Bloomberg - Feb 19, 2017

The China-Hong Kong Economic Policy Uncertainty Index stands at a record 672.82 after soaring to more than five times its average in data stretching back 22 years. The gauge tracks mentions of policy-related economic uncertainty in Hong Kong's main English-language newspaper, the South China Morning Post. It's part of a suite of trackers developed by Northwestern University’s Scott Baker, Stanford University’s Nick Bloom and Steven Davis from the University of Chicago.

Esther Cepeda: Meaningful work need not be 'fun'

Washington Post/Tucson.com/Arizona Daily Star/Lockport Journal - Feb 15, 2017

Ayelet Fishbach, a professor of behavioral science and marketing at the Booth School of Business at the University of Chicago, recently wrote in The New York Times: “To identify a satisfying job, people should be thinking about office morale and doing work that is interesting and fun. ... Add present benefits to your working hours. Listen to music, make friends and break the routine with social activities. Do whatever makes you happy at work; you can stick to your career goals longer if your work is enjoyable in the moment.”

Something missing from Trump's Cabinet: Economists

CNBC/MarketWatch - Feb 10, 2017

Trump has yet to fill out the three-person CEA. "They've named other economic positions and created new positions while not naming the chair or any of the other members of the CEA — that's clearly a signal" Austan Goolsbee, a University of Chicago professor and council chairman under President Barack Obama, told the Journal.

Everybody Discounts How Much Fun Matters for Their Next Job

New York Magazine - Feb 8, 2017

As she detailed in a post for the New York Times, the University of Chicago’s Ayelet Fishbach found that in experiments, participants care lots about how fun their work is and how much they like their colleagues, but that gets discounted when considering a future gig, where promotions and salaries take precedence. It’s as though people forget that they’ll have to show up to the actual, real life of their tantalizing, would-be future employer. The current gig gets valued for intrinsic benefits, or rewards within the activity itself, while the future gig is evaluated by delayed benefits, like the money to be made.

Little Chocolate’s Big Moment

Bloomberg - Feb 7, 2017

The backlash against Big Food has crept from the supermarket’s beer and coffee aisles into the chocolate aisle—a rejection of candy as commodity, its units identical and cheap. “When you have increasing concentration of producers in the center, you leave room on the periphery for specialization,” says Elizabeth G. Pontikes, associate professor at the University of Chicago’s Booth School of Business who teaches a course comparing craft chocolate and craft beer.

Uncertainty is sweeping the globe. That’s very bad for business

The Washington Post/MSN - Feb 6, 2017

The United States isn’t the only country that’s a complete basket case right now. Basically the entire world has reached record levels of political chaos and uncertainty. That’s according to the relatively little-publicized Global Economic Policy Uncertainty Index, which just hit a two-decade high. The index was constructed by Scott R. Baker, Nick Bloom and Steven J. Davis, economists at Northwestern University, Stanford University and the University of Chicago, respectively.

‘Sell in May and Go Away’: Mostly a Myth, but Not Entirely

The Wall Street Journal - Feb 6, 2017

What might cause the stock market to perform so much better in the winters of presidential third years than in the summers of those years? The professors offer only a conjecture. They point to a 2013 University of Chicago study that created an index measuring uncertainty surrounding economic policy. That index turns out to be highest in the winter months of presidential third years, on average.

This is your brain on fake news: what’s behind the human willingness to swallow “alternative facts”

Salon - Feb 5, 2017

Nicholas Epley, a professor at University of Chicago and author of “Mindwise,” told me, “There’s a reliable bias for people to hold things that they think are true, or would like to be true, to a lower evidentiary standard than things they don’t want to be true or don’t believe are true.” If you’re pro-Clinton and you read about something anti-Trump, you’re more likely to accept it, with less (or nonexistent) evidence, than if you read something anti-Clinton, at which point your guard goes up and you think, “Oh yeah? Prove it.”

What Trump could learn from Isaac Newton—before it's too late

Crain's Chicago Business - February 4, 2017

"The U.S. is the biggest exporter of services in the world by far," says University of Chicago economics professor Austan Goolsbee, who chaired President Barack Obama's Council of Economic Advisers at the height of the subprime mortgage crisis. "If we start engaging in tariffs, there's a real risk of it spiraling" to other sectors—especially if Trump's industrial pump-priming drives up the value of the dollar, making our services more expensive to foreign purchasers.

What's a serial entrepreneur to do when the world is topsy-turvy?

Crain's Chicago Business - February 4, 2017

Intense, direct and usually clad in button-downs and khakis or jeans, Glen Tullman exudes the personality traits of top CEOs: talent, charisma, enthusiasm and, most important of all, getting things done, says Steven Kaplan, a University of Chicago professor who studies executives' behavior...Locally, Kaplan nods to Brad Keywell, half the team that founded Groupon. Keywell and Tullman teamed up to invest in startup Zest Health, which in 2014 brought on its first customers, including Presence Health, the largest Catholic hospital network in Illinois.

Trump begins dismantling Obama financial regulations

CNN - Feb 3, 2017

"It makes me nervous. Hopefully we won't have another 2008, but tearing up the rules of the road is not a good start," Austan Goolsbee, an economics professor at the University of Chicago who was a top economic adviser to former President Obama, told CNN.

Silencing the Guns: Peace begins with getting youths to slow down

Chicago Sun-Times - February 3, 2017

In an op-ed, Anuj Shah, associate professor of behavioral science at the University of Chicago Booth School of Business, and his colleague write, "After a year in Chicago as violent as 2016, we naturally wonder how to prevent it from continuing, and that begins with trying to understand why there were so many shootings and murders in the first place. We know most of the gun violence is concentrated among young people on the south and west sides, but it is hard to find a clear cause. Often, seemingly small slights and minor conflicts escalate to the point that someone pulls a trigger. Why?"

Why Eating The Same Food Increases People's Trust And Cooperation

NPR - Feb 2, 2017

All over the world, people say they make friends by "breaking bread together." Social science research explores why sitting down to eat together makes people feel closer. NPR Host David Greene speaks with Ayelet Fishbach at the University of Chicago.

Dashed Expectations Power White Anger

Bloomberg - Feb 1, 2017

Plenty of evidence showed that Trump voters weren’t doing worse, economically speaking, than those who voted for Hillary Clinton. But that might not be the whole story. To see why, take a look at the Financial Trust Index. A University of Chicago Booth School of Business team, headed by Paola Sapienza and Luigi Zingales, tracks how much people trust various economic entities -- banks, the stock market, mutual funds and large corporations. As you might expect, poor people tend to have less trust in the economy than do the wealthy.

International Media

Long lives mean endless demand for coaching

The Financial Times - Feb 26, 2017

In the 1980s, Bruce Rigal had studied for an MBA at Chicago Booth. For Mr Rigal, life-long access to unlimited coaching offered by the business school was invaluable as he decided how and whether to re-enter education...Chris Lecatsas-Lyus, director of career management for Chicago Booth in Europe, is a psychotherapist and career coach. Alongside colleagues in Chicago and Hong Kong, she offers coaching to alumni facing career dilemmas at the business school’s three global campuses and for any age up to retirement — even beyond, in some cases.

US stock returns are higher under Democratic presidents

Livemint - Feb 24, 2017

A recent National Bureau of Economic Research working paper by Lubos Pastor and Pietro Veronesi from Chicago Booth School of Business shows that stock market returns in the US are much higher when a Democrat is in the White House.

Policy making in India is like driving at 60 miles an hour on the highway: Raghuram Rajan

Economic Times - Feb 22, 2017

During his stint as the Reserve Bank of India governor, Raghuram Rajan often found himself in the headlines. But after stepping down from the role and returning to academic life, he has judiciously stayed away from the media. He finally relented, granting an interview to the Chicago Booth media team, which was published on the university's website last month.

After April’s March for Science, what next for anti-Trump scientists?

The Guardian - Feb 22, 2017

Writing in the New York Times on Italy’s experiences with Silvio Berlusconi, Luigi Zingales of the University of Chicago, argues that it is important to take the Trump Administration’s policy proposals seriously and to engage them substantively if they are to be effectively opposed or shaped.

Trump, resurgent Hong Kong stir up the uncertainty in China’s economic policy

Livemint - Feb 20, 2017

Reprint of Bloomberg article. The China-Hong Kong Economic Policy Uncertainty Index stands at a record 672.82 after soaring to more than five times its average in data stretching back 22 years. The gauge tracks mentions of policy-related economic uncertainty in Hong Kong's main English-language newspaper, the South China Morning Post. It's part of a suite of trackers developed by Northwestern University’s Scott Baker, Stanford University’s Nick Bloom and Steven Davis from the University of Chicago.

Current Industry Policy of Taiwan is Wrong

China.com.cn - Feb 20, 2017

(translated) China.com.cn, a news platform governed by CIPG (China International Publishing Group), reposted an article discussing the economic condition in Taiwan. In the article, a speech of Chang Tai Hsieh, Phyllis and Irwin Winkelried Professor of Economics and PCL Faculty Scholar at Chicago Booth, was quoted, in which he pointed out that the current industry policy of Taiwan would do nothing to boost the economy. In his point of view, to confront with serious economic crisis, Taiwan should lay more emphasis on the service industry rather than manufacturing industry.

Guess who inspired Raghuram Rajan to become an economist?

Economic Times - Feb 14, 2017

When Raghuram Rajan stepped down as the Reserve Bank of India’s governor in September last year, he left a gift for his successor — the gift of silence, to allow the new governor time and space to give voice to his ideas. Rajan has stayed away from the press since. He, however, made an exception recently for the media team at Chicago Booth, where he is currently teaching.

What prevents you from achieving your long-term goals

DP.ru - Feb 13, 2017

(translated) In an op-ed for DP, Ayelet Fishbach, a professor at Chicago Booth at the University of Chicago, writes, "If employees receive an immediate reward in the form of daily endorsement or confirmation that their work is important and significant, it increases the likelihood that they will be able to achieve long-term goals at work."

Raghuram Rajan stepped down because of demonetization: P Chidambaram

DNA India - Feb 11, 2017

Former Reserve Bank of India Governor Raghuram Rajan stepped down from his post when his first term came to an end because he was opposed to demonetization, former Finance Minister P Chidambaram said on Friday. Rajan is back in Chicago, and is now the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business.

Interpersonal Relations Contribute to One’s Success

Sohu.com - Feb 9, 2017

(translated) Sohu.com posted an article discussing the importance of interpersonal relations in the pursuit of success, in which the research conducted by Professor Ronald S. Burt from Chicago Booth was mentioned.

'Great To Be Back Riding My Bike': Raghuram Rajan At Chicago University

Times Now/Daily News & Analysis/Times of India- Feb 7, 2017

Rajan was governor of the Reserve Bank of India from 2013 to September 2016. His tenure was marked by both bouquets and brickbats but saw severe criticism from some political quarters towards the end, including personal attacks...He is currently Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business, which he joined in 1991.

'Great To Be Back', Says Professor Raghuram Rajan At Chicago University

NDTV - Feb 8, 2017

Having returned to academia after a controversy-ridden stint at the RBI, former Governor Raghuram Rajan feels "great to be back" riding his bike in Chicago and hopes to "do it as long as" he can. "Taking my bike out and riding the bike path along Lake Shore Drive, that's one of the great experiences in my life. And I hope to do it as long as I can. It's great to be back," Mr Rajan said in an interview with the media team of the University of Chicago Booth School of Business.

Raghuram Rajan: Riding the bike path along Lake Shore Drive is a great experience, it's great to be back

Business Insider India/Livemint/The Economic Times/BusinessStandard/MoneyControl/India/Business Today/Quartz - Feb 7, 2017

Policymaking is like going 60 miles per hour with the rain pattering on your windshield with no idea what is in front of you, according to former governor of the Reserve Bank of India Raghuram Rajan. In one of his first public interactions after relinquishing his RBI post, the Katherine Dusak Miller Distinguished Service Professor of Finance at the Booth School of Business, University of Chicago, told the varsity’s media relations wing that he was looking forward to his days in academia where “you can spend four days in a room, sit looking at a piece of paper and struggling with a thought that refuses to come out".

News Analysis: Could populist victory in Italy set up tricky referendum on euro

Xinhuanet.com/China.org.cn - Feb 5, 2017

Luigi Zingales, an Italian-born economist now with the University of Chicago, has said the departure of the lira was because it took place as globalization started washing over Europe. Now, experts say, a switch back to the lira would be difficult and painful, with few benefits.

'Hurricane Donald's' trade policy

CNBC Asia - Feb 1, 2017

Austan Goolsbee, former chairman of the Council of Economic Advisers, weighs in on President Trump's protectionist approach to trade.

Alumni

City Club of Chicago: Tom Ricketts

WGN Radio - Feb 27, 2017

Tom Ricketts is the Chairman of the World Series Champion Chicago Cubs. A longtime fan of the team, he led his family’s acquisition of the franchise from the Tribune Company in 2009...Ricketts has an AB in Economics and an MBA in Finance from the University of Chicago. He was named the Business School’s Young Alumnus of the Year in 2005

Morningstar's new CEO values independence, contrarian approach to investing

Chicago Tribune - Feb 23, 2017

In the last few years, it's become less common for a person to enter a company right out of college, learn the business from the inside and ultimately rise to the top position. But Morningstar's new chief executive, Kunal Kapoor, bucked the changing trend. Founded by Joseph Mansueto in 1984, Morningstar taught do-it-yourself investors and advisers how to invest and how to pick solid mutual funds and later stocks, exchange-traded funds and other investments successfully...Kapoor, who considers Mansueto his mentor, joined Morningstar as a data analyst and earned his MBA from the University of Chicago while working at the company.

David Booth relinquishes co-CEO title at Dimensional Fund Advisors

Financial Times - Feb 23, 2017

David Booth, the disciple of efficient markets theorist Eugene Fama who founded Dimensional Fund Advisors in 1981, is stepping back from day-to-day management of the company...Mr Booth was a pupil of Mr Fama at Chicago University and helped create one of the first index funds while at Wells Fargo, before setting up DFA. Mr Fama is a consultant and board director at the company to this day.

Naperville's Curt Bradshaw steps down from state board of education

Chicago Tribune - Feb 9, 2017

When Curt Bradshaw began serving in the public school arena with District 204, his daughter was a baby and his son was 3 years old. A dozen years later, Grace is a middle schooler, Noah is in high school, and Bradshaw been with the Illinois State Board of Education for four years. The Naperville resident said it was time to give up public service and spend more with his family. Bradshaw, who works in the investment management industry and earned his MBA from the University of Chicago, cut his teeth in public education as a District 204 school board member.

In this startup's case, it actually is brain surgery

Crain's Chicago Business - Feb 9, 2017

Jennifer Fried is an accidental entrepreneur. After three years at Bain Consulting and some time in venture capital, she thought her next step would be becoming an investor in health care startups. Instead she's the CEO of her own med-tech startup. Her company, ExplORer Surgical, has created a software program that guides the activities of everybody in the operating room during a surgical procedure...Five years after receiving an undergraduate degree in economics from Northwestern University in 2010, Fried, now 28, earned an MBA from the University of Chicago Booth School of Business, where she concentrated on finance and entrepreneurship and health care. In 2015 Fried, Langerman and fellow MBA student, Dr. Marko Rojnica, came in second at the Booth New Venture Challenge, yielding $50,000 in capital.

12 business tips from Mikhail Volkov ("Ingosstrakh")

GQ Russia - Feb 7, 2017

(translated) Alumnus Mikhail Volkov says of attending Chicago Booth, "If not for the MBA from the Chicago Graduate School of Business, I would never have gotten into insurance. During the training, I became friends with the man who brought me here. Business education helps to manage, but it is not a panacea. A third of all MBA - this is the name of the university where you study, one-third - useful links, and only a third - knowledge.

The CEO of Vienna Beef wants to go to the moon

Crain's Chicago Business - Feb 3, 2017

Jim Bodman is chairman and CEO of Vienna Beef, a 123-year-old hot dog company he and business partner Jim Eisenberg bought in 1982 after hiring on 50 years ago...The University of Chicago Business School alum, now 76, lives in Northfield with much of his family within a few miles of one another. He's an avid fisherman and golfer—and brave diner.

Students

The Ivy League's Gender Pay-Gap Problem

The Atlantic - Feb 2, 2017

Claudia Goldin, a Harvard economics professor who specializes in the gender wage gap, and Lawrence Katz, an economics professor at Harvard, offered a helpful, if somewhat limited, explanation on why women are not financially benefiting from jobs in high-paying fields as much as their male classmates in their study on MBA graduates from the University of Chicago Booth School of Business, almost all of whom graduated into corporate or financial sectors. They found that, nine years after graduation, Booth School women made 37.5 percent less than Booth School men.