Experience Stern | News & Events

Excerpt from CBC -- "A lot of different people have different conceptions of what this term [i.e. the sharing economy] means. I define it pretty broadly. I define it as any new way of organizing economic activity that uses a digital platform to tap into the time and assets of a distributed group of people. So Airbnb, for example, offers an alternative to traditional hotels, not by building hotels, but by connecting to millions of people who are willing to host a guest for a few days, either in a spare bedroom or by handing over their apartment to them for a few days."

Excerpt from NBC News -- "It's not everywhere. It's not a national crisis. But it is a severe problem at many of our most important schools. Students routinely say they're afraid to speak up. And if you keep your eye on the self-censorship, rather than the shout-downs, then I think it is a crisis."

Excerpt from Knowledge@Wharton -- "Up till now, it's been easier to fuzz it up and—with tariffs on steel and aluminum, you know, economists, other trade-oriented people, understand that's going to basically work it through to... final prices. But now we've got the tariffs on the final goods themselves. Mr. Trump is trying to play both sides of the street by saying he still doesn't think that... he still believes that China is paying, but just in case, and so he's playing both sides of the street."

Excerpt from CNN -- "The new card is unlikely to 'make a big dent in Goldman's financial position or even its public image,' said Lawrence J. White, economics professor at New York University Stern School of Business. 'There would have to be a lot of defaulting on the debt before this can become a big problem for Goldman and it doesn't appear that that's where they are going.'"

Excerpt from Reader's Digest -- "Bad drivers think they’re good drivers. Awful cooks think they can host Thanksgiving dinner. A bad manager thinks he’s a leader, oblivious to his poor managerial skills. A tone-deaf singer thinks she’s as talented as a Grammy winner. This is Dunning-Kruger in action."

NYU Stern launched a new Diverse Pathways in Academia program for future professors in their penultimate doctoral year, with the mission of educating PhD students about faculty careers within business schools. The program invites scholars to participate in the initiative free of charge.

Excerpt from The Cut -- "'Anything you can do to minimize the amount of self-control you need to exert is a good thing,' Alter says. 'If you can make hard and fast rules that guide your purchasing behavior, but also license you to do it occasionally, you may have an easier time keeping it under control.'"

Excerpt from Thrive Global -- "The study adds that intent to share a photo can sometimes trigger anxiety at the moment the photo is taken, even if that’s long before the photo is shared. 'Any time you’re trying to manage your impression, you’re going to get in between yourself and the experience,' explained behavioral scientist Alixandra Barasch, one of the authors of the study."

Excerpt from Inside Philanthropy -- "The ethical problems at issue in the Wexner-Epstein relationship 'are greed, deception, overpromising, and the exploitation of people’s hopes,' Bigel said. 'Ethics is not a matter of logic, it’s a matter of emotion. Decisions we make, especially regarding the purse and love, are emotional. Wexner must have been caught up emotionally with this guy, must have talked about how they would help each other. Money is seductive.'"

Excerpt from Bloomberg -- "Forecasting asset returns in the financial markets is notoriously difficult, but, oddly enough, volatility is more predictable: both ARCH and GARCH models show that shocks to volatility are persistent and exhibit long half-lives. Such shocks can be extracted from volatility estimators and, with this in mind, Professor Engle has developed a new Geopolitical Volatility Factor (GPVF). The GPVF is based on the standardized residuals from a factor model with GARCH-style residuals. He then tested the model by applying estimation algorithms to nine U.S. sector ETFs and 45 MSCI country ETFs and studying the results through Monte Carlo simulations."

Excerpt from Forbes -- "Overall, our findings suggest that the effects of AI on labor are not uniform across occupations, and that access to complementary skills and technologies may play an important role in determining the impact of AI on occupations."

Excerpt from Vanity Fair -- "'EB-5 capital continues to thrive as a mainstream source of capital for real estate development projects,' according to the NYU study. 'It flourishes despite the uncertainty surrounding the EB-5 Program posed by the looming threat of reform.'"

Excerpt from Retail Dive -- "'Audits are certainly important,' Casey O'Connor, senior program manager for New York University's Stern Center for Business and Human Rights, said in an interview with Retail Dive. 'But I think it's fair to say that there's industry consensus that audits alone have not really moved the needle on a lot of the kind of problematic labor conditions that remain fairly pervasive in the apparel industry.'"

Excerpt from Folha de S. Paolo -- (translated from Portuguese using Google Translate) "'There is a real chance of plunging the global economy into recession. I think we'll see that in the first half of 2020,' Robert Salomon, professor at the New York University Stern School of Business, told Folha."

Excerpt from Bloomberg-- "Only five developing countries have made the transition to advanced-nation status while maintaining high levels of growth since 1960, according to Nobel laureate Michael Spence, a professor at New York University’s Stern School of Business."

Excerpt from Financial Times -- "Amy Webb’s The Big Nine examines the largest US and Chinese companies dominating the introduction of AI into our lives. She offers dystopian and more optimistic scenarios for how machines may develop — and how humans could influence their development."

Excerpt from Bloomberg -- "There are only two companies in the world right now that are effectively landing punches on big tech. One of them is Walmart, landing some counter-blows on Amazon, and the other is Disney, that is probably the only content company that could effectively land counter-blows on Netflix."

Excerpt from Clear Admit -- "This past June, the NYU Impact Investment Fund (NIIF) completed its inaugural investment, subscribing for $30,000 of convertible notes issued by Sapient Industries, an exciting Philly-based start-up that uses a combination of smart hardware and machine learning algorithms to reduce energy waste in commercial real estate. I’m extremely honoured to have played a modest part in this deal, which demonstrates in very real terms the growing realization at graduate schools, and indeed, in society as a whole, that investing can align financial and social returns."

Excerpt from Retail Dive -- "'It's very avant-garde, and that sort of avant-garde fashion needs a different type of consumer, which there aren't that many of anymore,' she said. 'It was sort of a three-dimensional glossy magazine, with a curatorial point of view and a very specific urban selection of apparel.'"

Excerpt from Business Insider -- "...If you buy something which is really cheap, then after that, the likelihood of you buying something else that is more expensive will increase. So, shopping creates a momentum."

Excerpt from Bloomberg -- "I think over the next year we'll see both Uber and Lyft demonstrate that in the densely populated cities, they have a profitable business model. I think the big open question is, how big can this business be? How much can they expand out of the cities into the suburbs... get into that budget that is not just urban transportation but is the trillions of dollars that people are spending on buying and maintaining their cars?"

Excerpt from Retail Dive -- "'It's a Catch 22 — as retail falls apart, that's the core of Simon's mall business, without retailers they own too much real estate,' he said in an interview. 'They can put in pop up stores or entertainment but there's only so many fitness centers. So it makes sense for them to try to help retailers survive because Simon would benefit.'"

Excerpt from The New York Times -- "'FedEx has made the decision that is no longer wants to sharpen its executioner’s sword,' said Scott Galloway, a professor at New York University’s Stern School of Business. 'It’s another reflection of this winner-take-all "Hunger Games" economy that is dominated by an increasingly few number of companies.'"

Excerpt from Xinhua -- (translated from Chinese using Google Translate) "Joseph Foudy, a professor at the Stern School of Business at New York University, said that in recent years, China has always been committed to keeping the RMB exchange rate basically stable. The US’s move to list China as a 'currency manipulator' is a political act and the US has upgraded its economic and trade frictions."

Excerpt from Project Syndicate -- "Jonathan Haidt, author of The Happiness Hypothesis and The Righteous Mind, uses a metaphor reminiscent of Plato, but in support of a view closer to Hume, to illustrate what he calls the social intuitionist perspective on ethics: 'The mind is divided, like a rider on an elephant,' he writes on the first page of The Righteous Mind, 'and the rider’s job is to serve the elephant.'"