Experience Stern | News & Events

On February 23, The Aspen Institute, in partnership with the NYU Stern Business & Society Program, will host a conversation with two of America's leading experts in psychology -- Professor Paul Zak and Professor Jonathan Haidt. 

Excerpt from Forbes -- "...coined by psychologists David Dunning and Justin Kruger, the Dunning-Kruger Effect is a cognitive bias whereby people who are incompetent at something are both unable to recognize their own incompetence and likely to feel confident that they actually are competent."

Excerpt from Business of Fashion -- "David Yermack, a professor of finance at New York University's Stern School of Business, famously tracked the correlation between what Michelle Obama wore and sales of the same or similar items in a study that was published in the Harvard Business Review. He determined the average value to a label of Obama wearing one of its products was $14 million."

Excerpt from MarketWatch -- "...employees should remember they’re the subordinates, so they shouldn’t make the conversation completely about them and their own needs, Magee said. Instead, the conversation should focus on what the boss’s priorities are. 'Then you can discuss how you might fit into helping those priorities become a reality,' he said."

Excerpt from The Wall Street Journal -- "Bankers are pitching the Snap IPO as the greatest tech offering since Facebook. Mr. Damodaran is skeptical. 'Bankers don’t value companies, they price them,' Mr. Damodaran said. Snap will be no Facebook, he says, but if it’s any consolation, he believes it will be more successful than Twitter."

NYU Stern's W. R. Berkley Innovation Lab will welcome NYU alumni, angel investors, venture capitalists, entrepreneurs and industry innovators to the 15th Annual New Venture Showcase.

Excerpt from the Official Monetary and Financial Institutions Forum blog -- "Ultimately, monetary stability requires political support. Without fiscal co-operation, no central bank can maintain the value of its currency. In a monetary union, stability requires a modicum of co-operation among governments."

Excerpt from CIO -- "A classic paper on this, published in 1999, was Unskilled and Unaware of It by Justin Kruger and David Dunning of Cornell University. This study — pithily subtitled How Difficulties in Recognizing One's Own Incompetence Lead to Inflated Self-Assessments — first brought the phenomenon to a wide audience. Kruger and Dunning probed the reasons for the phenomenon and those hold some clues about how to handle it."

Excerpt from Fast Company -- "Behavioral scientists have also found that just asking people about their future decisions significantly influences those decisions, a phenomenon known as the 'mere measurement effect.' Back in 1993, social scientists Vicki Morwitz, Eric Johnson, and David Schmittlein conducted a study with more than 40,000 participants that revealed that simply asking someone if people were going to purchase a new car within six months increased their purchase rates by 35%."

Excerpt from MarketWatch -- "...Xavier Gabaix, a finance professor at New York University, predicts that all such attempts will be futile. In an interview, he told me that market crashes are caused by the largest players (institutional investors) all wanting to get out of the market at once — and that no regulation can stop them when they want to. That’s because they can inevitably find other markets in which to unload their positions."

Excerpt from MarketWatch -- "'This IPO has generated a lot of hype,' says Scott Galloway, New York University business school professor and founder of marketing firm L2. 'But... Snap is a loser and will ring the bell at the top of the social-media market.'"

Excerpt from Psychology Today -- "Research suggests that being generous often increases a person’s status within a group. But, does high status make people generous? This question was explored in a paper in the January, 2017 issue of the Journal of Personality and Social Psychology by Nicholas Hays and Steven Blader."

Excerpt from Ad Age -- "'As politics become more polarizing, people may be more willing to endure inconveniences to make a point,' said Eric Greenleaf, a professor of marketing at New York University's Stern School of Business. 'And with online shopping, consumers have more alternatives.'"

Excerpt from Inc. -- "'When you negotiate in a global world, what you want to create is a win-win,' explains Ari Ginsberg, a professor of entrepreneurship and management at New York University's Stern School of Business whose specialties include strategy and entering new markets. Otherwise, 'at the end, instead of cooperating, we'll continue competing until we get to the bottom,' Ginsberg says."

Excerpt from WalletHub -- "What matters most are the specific terms of any credit card -- which are determined by the bank or credit union or other issuer. Given the general ubiquity of acceptability of Visa and MC by merchants and websites, etc., making distinctions between the 2 is generally not especially interesting."

Excerpt from Kathimerini -- "The consequences of Grexit would be catastrophic for Greece both in the short and long term. The lack of competitiveness of the Greek economy would result in a quick devaluation of the new drachma vis-a-vis the euro, and the real income of employees and pensioners would shrink dramatically. The national and private debt in euros would became much larger in new drachmas and much more difficult to service. Deposits would be forcibly converted to new drachmas, losing at least half their value."

Excerpt from The Telegraph -- "As Alter illustrates, a mere six ingredients lie behind most truly addictive experiences: goal setting, feedback, progress, escalation, cliffhangers, and social interaction. Think of the things you keep coming back to, for good or ill – running with your FitBit, watching Breaking Bad, browsing Facebook – and you’ll find one or more of these. Combine them all, as in a Massively Multiplayer Online Game like World of Warcraft, and to the right person at the right time they really can become irresistible."

Four New York University faculty have been awarded fellowships from the Alfred P. Sloan Foundation: Jayeeta Basu, an assistant professor at NYU School of Medicine; Johannes Stroebel, an associate professor at NYU Stern School of Business; Nicolas Tritsch, an assistant professor in the Neuroscience Institute at NYU School of Medicine; and Daniel Turner, an assistant professor in NYU’s Department of Chemistry.

On Friday, February 24, the Latin American Business Associations (LABA) of NYU Stern and Columbia Business School – along with the Young Professionals of the Americas (YPA), an initiative of the Americas Society/Council of the Americas – will host their second annual joint conference.

Excerpt from Antara News -- "The Nobel Prize winner in Economics in 2003, Professor Robert Fry Engle III, has received an honorary doctorate degree from the Rector of University of Airlangga (Unair), Surabaya, Professor M Nasih, before delivering a guest lecture at the university on Monday."

Excerpt from The Guardian -- "Tensie Whelan, former CEO of the Rainforest Alliance, says: 'The Nespresso AAA Program is one of the most rigorous and comprehensive programs in the coffee industry.'"

Excerpt from Fast Company -- "'We have not seen a health company that has defined what a platform model looks like for the delivery of health care services nor the acquisition of talent,' says Arun Sundararajan, professor of information, operations, and management sciences at New York University and author of 'The Sharing Economy.' 'Wego is putting its stake in the ground with the latter.'"

Excerpt from Metro MBA -- "Should you earn your MBA or your JD? Each has its pros and cons and can set you up in different ways, so which is better? Instead of choosing, why not get both? That’s exactly what you can do at the NYU Stern School of Business through the school’s dual degree programs."

Excerpt from Bloomberg Quint -- "Toward the end of 2016, Snap (formerly known as Snapchat) became the latest social media company to enter the public market. With 161 million engaged users but little in terms of current revenues and big operating losses, Snap fits the bill as a company with lots of potential but plenty of peril. In this post, I tell my story for Snap and the value that emerges from it. It is, for the most part, an optimistic story of a young company that has found a niche in the crowded social media space. In my story, Snap will not and should not try to be the next Facebook but I also see it as avoiding becoming Twitter Redux."