Experience Stern | News & Events

On September 25, NYU Stern's "In Conversation with Lord Mervyn King" series hosted Nobel Laureate Paul Krugman, op-ed columnist at The New York Times and distinguished professor of economics at The Graduate Center, CUNY.

Excerpt from the Philanthropy Journal -- "The studies show that people will still choose more personally gratifying charities to donate to over more effective ones. The researchers found that this pattern was only disrupted in two situations: if the donor occupied some role of responsibility, such as being responsible for allocating official funds, or if the donor was choosing between charities that supported the same cause."

Excerpt from ABC News -- "Research by Uber's chief economist, Jonathan Hall, and John Horton of New York University found that when Uber raised its fares, drivers initially earned more money. But there were offsetting effects: The higher rates attracted more drivers while reducing the number of trips consumers made. Overall earnings for drivers soon fell back to their previous levels."
 

Excerpt from CNNMoney -- "Erdem said that when companies change their names, they lose valuable brand recognition. 'There's so much awareness around the name,' said Erdem. 'I think a company would do that only if really, really the brand is so tarnished, you want to be forgotten.'"

Excerpt from HuffPost -- "We give our phones immense power when we allow them to nudge us with updates throughout the day,' Professor Adam Alter from New York University, who has done research in this area, tells me. 'We’d never give the same power to another person - imagine telling someone that you’re happy for them to tap you on the shoulder every few minutes. Our phones are just as intrusive, and we give them that power.'"
 

Excerpt from New York Magazine -- "Haidt and Lukianoff note how humans are constructed genetically for this kind of tribal warfare, to divide the world instinctively into in-groups and out-groups almost from infancy. For homo sapiens, it is natural to see the world, as Rabbi Jonathan Sacks put it, as radically 'divided into the unimpeachably good and the irredeemably bad.'”

Excerpt from Institutional Investor -- "Although higher risk can sometimes lead to higher returns, the additional risks taken by sports car drivers “ultimately hurt their investors,” authors Stephen Brown, Yan Lu, Sugata Ray, and Melvyn Teo, who are all finance professors, wrote in the paper. They found that sports car owners delivered lower Sharpe ratios and alphas, and traded 'more frequently, actively, and unconventionally.'"

Excerpt from The Wall Street Journal -- "Maher Said, a New York University Stern School of Business professor who focuses on auctions, said the first step in an auction like this is figuring out how much the asset is really worth to you, and then what you think it’s worth to your rival. Next is gaming out a range of possible bids from your rival. 'The concern is you don’t want to raise the price so high and end up holding the bag,' he said."

Excerpt from Bloomberg -- "'That is not what the investment bankers signed on to be; they wanted to be "masters of the universe" and make big bucks,' said Roy Smith, emeritus professor of management practice at New York University’s Stern School of Business. 'They didn’t sign on to be low-risk public utilities.'"

Excerpt from MarketWatch -- "'It would be good for the government to take a unified approach to regulating crypto assets, but given the byzantine structure of our financial regulation, I would not expect miracles,' said Yermack."

Excerpt from CNBC -- "'I see China as five years ahead of the U.S. when it comes to the extent to which digitalization is integrated into this economy,' Arun Sundararajan, professor at New York University's Stern School of Business, said during the same panel discussion Thursday."

Excerpt from Refinery29 -- "'When you're playing a slot machine, the machine will tell you when you've won with ringing bells and flashing lights,' Adam Alter, a social psychologist at New York University, said in the documentary. 'And a lot of the apps we use now have elements of that built in, even when they aren't really about games.'"

Excerpt from BusinessBecause -- "Where a lot of people get caught up day to day, going from task to task, an MBA helps you view business and society on more of a global, long-term scale. You are encouraged to think about where various industries and sectors will be in the future, what are the trends that we can see emerging, and to see society and business from a birds-eye view."

Excerpt from Vox -- (2:17) "People who work at museums are very concerned. It changes the nature of what artwork is most attractive to consumers. In order to compete with the trendy colorful exhibits that are popping up, you have to add some of those components to the more traditional exhibits."

Excerpt from The New York Times -- "'But distance is the thing that shows up everywhere,' said Johannes Stroebel, a professor at N.Y.U.’s Stern School of Business and a co-author of the research, along with Michael Bailey at Facebook, Rachel Cao at Harvard, Theresa Kuchler at N.Y.U. and Arlene Wong at Princeton. 'Distance matters,' Mr. Stroebel said, 'in explaining every single county’s connectedness.'"

Excerpt from Bloomberg -- "King’s recipe to prevent a re-run: ensure lenders have enough collateral in place at the central bank to justify it acting as lender of last resort, restoring liquidity to the financial system. 'It is vital to sort out the conditions under which those loans will be made in advance, to make sure that banks do have enough collateral or security to justify those loans, and that it’s big enough to let the central bank lend enough money to prevent a bank run and collapse of the system,' said King, who was succeeded by Mark Carney in 2013 and has now returned to academia."

Excerpt from TechRepublic -- "Developers of the future will need to learn more skills, particularly in data analysis, said Kristen Sosulski, clinical associate professor of information, operations, and management sciences in the Leonard N. Stern School of Business at New York University, and author of Data Visualization Made Simple. 'Everything from statistical data analysis, to non-linear and linear data analysis, to machine learning and even artificial intelligence,' Sosulski said. 'It's really not just learning how to code, it's also learning how to analyze data and sell different models.'"

Excerpt from the Financial Times -- "'Apple is not a tech company, it’s a luxury brand,' said Scott Galloway, professor of marketing at the New York University Stern School of Business. 'Just as Apple copied Louis Vuitton, you’re going to see Nike and Adidas copy Apple.'"

Excerpt from Poets & Quants -- "As I go into my final semester here at NYU, I have to say that I agree with all the advice and reflections made by these recent graduates. However, I would like to add one piece of advice: do not rush. That may seem very vague, but as my time at Stern comes to an end, I realize there are so many opportunities I said no to or didn’t explore because I thought it was a 'waste of time.' Make the most of the four years you have and don’t feel pressure from your peers or family to do something that won’t make you happy in the long-run."

Excerpt from Quartz -- "The results are strikingly similar to the findings of a February 2018 paper from researchers at NYU and Via, a ride-hail app that operates in New York, Chicago, and Washington, DC, with exclusively shared rides. In that experiment, the researchers considered how best to compensate several thousand 'frustrated' riders who were picked up at least 8 minutes later than Via estimated in New York and DC (the Uber paper, remember, dealt with late drop-offs)."

Excerpt from Vox -- "That’s another feature of financial history, i.e., taking tough measures in the wake of a crisis and then watering them down over time. What’s different this time is that the watering-down began almost immediately instead of waiting a bit. That makes me think that we will not again have to wait half a century or more before the next large-scale financial crisis arrives."

Excerpt from CGTN -- (:34) "It's the beginning of estimating the damage, this storm has a tendency to linger for a long time and drop a lot of rainfall so there will be, I'm afraid, a multiple of the estimate of damage that we have right now."

Excerpt from ThinkAdvisor -- "As with every technology, there’s always risk and opportunity. When people talk about AI, [most] focus on what they [perceive] as people losing their jobs. There’s a potential for AI to be weaponized; and, obviously, it will eliminate some jobs. However, there are also tons of economic opportunities that it creates."

Excerpt from Bloomberg -- (:24) "There's certainly been the improvement in the economy, well not so much from 2007, but from the depths of the great recession which was roughly 2010 but also a greatly improved financial sector, more capital, more liquidity, more resilience generally. So both the economy at large and the financial sector specifically, much improvement since roughly 2008."

Excerpt from CNNMoney -- "'The whole phenomenon is very promising,' said Anindya Ghose, a professor at NYU's Stern School of Business who teaches a course on e-commerce and social media. 'A number of companies have tried it with mixed results. The potential is much higher than what we have seen so far.'"