Experience Stern | News & Events

Excerpt from Real Simple -- “'We gave people the same amount of money in either high or low denominations, then told them they could keep the money or spend it,' says Raghubir, a professor of marketing at New York University’s Stern School of Business, in New York City. Each time they ran the experiment, the results were the same: When given a large bill, consumers held on to it. When they got a small amount in small bills, they spent it—often on impulse items, like candy."

Excerpt from Project Syndicate -- "The run-up in gold prices in recent years – from $800 per ounce in early 2009 to above $1,900 in the fall of 2011 – had all the features of a bubble. And now, like all asset-price surges that are divorced from the fundamentals of supply and demand, the gold bubble is deflating."

Excerpt from The Globe and Mail -- "Baumol's cost disease – an economic theorem often proven empirically and named after the economist William Baumol – shows that wage gains always outstrip productivity improvements in the public sector. Baumol's cost disease poses a huge challenge for provincial governments, whose services – health, education, social services – are very labour-intensive."

Excerpt from The New York Times -- "Nearly all economists, including those who express concern over income disparities of the 1920s, count multiple factors at work preventing recovery in the 1930s. They do not blame stock prices, or even President Coolidge. Yet it is human nature to believe that when an event follows an event, the first event causes the second. The misery of the ’30s was of such magnitude, or so the narrative suggests, that most people want to believe it must have been preceded a force of similar magnitude. Post hoc, ergo Gatsby."

Excerpt from Harvard Business Review -- "Many people feel disconnected from the individuals they’ll be in the future and, as a result, discount rewards that would later benefit them. But brief exposure to aged images of the self can change that behavior."

The NYU Stern Center for Measurable Marketing hosted “Measuring and Managing Brands in a Digital World" on May 29. The conference brought together marketing leaders and top academics to discuss best practices in measuring brand equity.

Excerpt from The Daily Beast -- "Karen Brenner, executive director of law and business initiatives at New York University’s Stern School of Business, notes that law tends to lag business practice, leaving wide loopholes. 'When that’s the case, companies are left to their own decision-making processes on what is right, compared with what is legal,' she said."

Excerpt from ABC Online -- "So some people must be unable to appraise or evaluate their own skills accurately. And that's what David Dunning and Justin Kruger found way back in 1999, with their paper entitled Unskilled and Unaware of It: How Difficulties in Recognising One's Own Incompetence Lead to Inflated Self-Assessments."

Excerpt from WIRED -- “'The reduction in price is partly driven by the fact that if the used game market were eliminated, gamers would no longer be able to sell their games and get back some money (so they need to be compensated),' [Ishihara] said."

Excerpt from CBC Radio -- "To me, encouraging the sharing economy is actually very much consistent with nurturing social democracy. I think we just have to figure out what roles does the government have to play and what roles can the marketplaces play on their own."

Excerpt from Business Insider -- "At the GMI Ratings seminar on May 14, NYU finance professor Dr. Baruch Lev spoke memorably about the decline of traditional accounting and our collective hope for a superior model. The relevance of this topic for investors today continues to become clearer, as evidence accumulates about the incidence and systemic repercussions of corporate fraud and misleading disclosure practices."

Excerpt from LiveMint -- "While there is a general euphoria about the introduction of these instruments, it is important to understand why the option of issuing inflation-indexed bonds was not availed in the past few years when inflation levels and uncertainty were significantly greater."

Excerpt from The Wall Street Journal -- "A principal in the consulting firm Global Economics Group and adjunct associate professor at New York University’s Stern School of Business, Rosa Abrantes-Metz applies econometric screening techniques to the detection of conspiracies and market manipulation."

Excerpt from Charlotte Observer -- "This 'catch-up' phenomenon – the reasons for it and the lessons that we in the developed countries can learn from it – is the subject of economist Peter Blair Henry’s impressive new book 'Turnaround: Third World Lessons For First World Growth.'”

Excerpt from Canadian Press -- “'I think there is a balance between what the government should be doing and what the marketplace should be doing on its own,' Sundararajan said."

Excerpt from Project Syndicate -- "The next ten years will be characterized by major structural adjustments and shifts in individual economies, and by a huge reconfiguration of the global economy as a whole. Above all, much depends on the policies adopted by the two largest economies, China and the United States, and their cooperation and leadership in creating global public goods and maintaining a stable and open economic environment."

Excerpt from Financial Times -- "As pressure increases on companies to disclose where they distribute their campaign dollars, four schools – the Stern School of Business at New York University, the Wharton School’s Zicklin Centre for Business Ethics Research at the University of Pennsylvania, Baruch College’s Zicklin School of Business, New York and the Ira Millstein Centre for Global Markets and Corporate Ownership at Columbia Law School, New York – have come together to address the topic. Earlier this year they launched an initiative with the US-based Center for Political Accountability to integrate corporate political accountability into the business school curriculums and to create the first online course on the subject."

Excerpt from USA Today -- "'The (amount of) buzz, or word of mouth, is immensely important for the eventual success of the project,' Ghose says. 'This is a powerful weapon … that researchers and academics can utilize.'"

Excerpt from The Wall Street Journal -- “'Financial-services companies have made some strides and have recognized you simply can’t write off the brains of 50% of the world’s population,' Wellington said, while adding Jones seemed to have 'written off' that population."

Excerpt from CNBC -- "I knew that I needed to be in an environment where I could elevate my level of thinking and it definitely paid off...We were challenged from day one to think about not only the business that we're doing in a micro sense but to think about how it can impact the global economy and to think outside of ourselves from our business to our community to our country."

The Leonard N. Stern School of Business Graduate Convocation Ceremony took place on Thursday, May 23, 2012 at Radio City Music Hall.

Excerpt from TheStreet.com -- "'There are plenty of vendors but no one has the functionality and experience and knowledge that's gone into their products like Bloomberg and Thomson," said Vasant Dhar, a professor at New York University's Stern School of Business and director of its Center for Business Analytics. 'There are alternatives, but they've become very entrenched. This discussion about privacy and data may be a good thing for the market, it might put some competitive pressures on the incumbents.'"

Excerpt from MarketWatch -- "Schoenholtz cautioned that the Fed has zero experience with using the interest rate of reserves as the primary tightening tool and doubts will persist until it works in practice. 'It works in theory but until we see it in actual practice we don’t know if it is useful,' he said."

Excerpt from Reuters -- "'They want to get their reputation back,' said Roy Smith, a professor at New York University's Stern School of Business. 'They know that means giving up some business.'"

Excerpt from Risk Magazine -- “'Transaction-based indexes are by far the best, but Libor has a challenge in that there just aren’t enough transactions. Given that, the committed quote system will guarantee – more than other systems – continuation of the index whenever transactions don’t exist,' says Rosa Abrantes-Metz, adjunct associate professor at New York University’s Stern School of Business."