Experience Stern | News & Events

Excerpt from the Australian Financial Review -- "The few hours that remain are our discretionary time, when we might read a book, enjoy a hobby, call an old friend for a talk, play Monopoly with the family or get to the gym. According to Alter's research, our white space is increasingly consumed by computer screens and that's not making us happy."

Excerpt from CNBC -- "An S-curve like the one Musk has invoked compares what a company gets against the amount of effort or money spent to achieve it. Melissa Schilling, professor of management and organizations at NYU's Stern School of Business, said the curve starts low and slow because 'at first you don't know what the hell you're doing.' Companies experiment with designs, manufacturing methods, cope with failures and learn what works and what doesn't. 'You're pumping a lot of money in, and you're getting very little return,' Schilling said."

Excerpt from HR Digest -- "According to the Dunning-Kruger effect, smart people realize they’re not very good and try to do better. On the other hand, stupid people think they’re good at whatever it is, and don’t try to get better and they don’t get any better either."

Excerpt from Bloomberg View -- "Here is Aswath Damodaran on ‘The Crypto Currency Debate: Future of Money or Speculative Hype?’ … What I did not know is that there is a whole literature about analysts getting tired as the day goes on, and it is fascinating. Here for instance is 'Oh What a Beautiful Morning! Diurnal Influences on Executives and Analysts: Evidence from Conference Calls' by Jing Chen, Elizabeth Demers and Baruch Lev..."

Excerpt from CNBC -- "'The question that you would need to address, if you are paying $2,775 for a bitcoin on August 1, 2017, is whether you can (or even will be able to) buy $2,775 worth of goods and services with that bitcoin,' Damodaran said. He said bitcoin's high price can be justified if the digital currency becomes widely accepted as payment, especially since by design only 21 million bitcoins can ever exist. High demand for a limited supply of coins will naturally send prices higher."

Excerpt from CNBC -- "We've had decreases in some crucial prices. That helps. But [low inflation] is a mystery. Labor costs are remaining low even though labor markets are in pretty good shape. 4.4% unemployment, that's back where we were in 2007. We've been below 5% unemployment now for over a year, and yet, labor costs are not going up, which would be an underlying cause for higher inflation. The Fed doesn't really understand it. Most academics don't understand why labor costs, why wages, aren't going up more rapidly."

Excerpt from The New York Times -- "'While the digital disruption is destroying the traditional retail business model,' Dr. Sundararajan said, 'the Amazon model that replaces it will continue to live in the physical world and require human labor for the foreseeable future.'"

Excerpt from The Source -- “Governments can help protect water sources by charging corporate users the real cost of water and use the proceeds to protect the water source; provide communities with funds to protect the forests in their watersheds; and build green infrastructure to reduce stormwater runoff into waterways. Charging for water at realistic rates will likely encourage businesses to install water conservation technologies (in order to reduce their fees), especially if government also provides subsidies for those technologies."

Excerpt from Inc. -- "Ari Ginsberg, a professor of entrepreneurship at New York University's Stern School of Management, characterizes the new proposals as encouraging. In particular, he cites a section of the outline devoted to small and medium-sized enterprises, which calls for the establishment of a special committee 'to ensure that the needs of SMEs are considered' in the broader agreement. 'The signals are much more positive than before for small businesses,' Ginsberg says."

Excerpt from DNAinfo -- "They modeled what happens to Manhattan’s market with an influx of such investors, finding negative consequences for the welfare of the city when they leave their properties vacant. It forces locals farther out, resulting in longer commutes, which costs time and money, Van Nieuwerburgh said. 'When buying desirable properties in Manhattan, they’re pushing someone else out,' he added."

Excerpt from WalletHub -- "A card can also be cool because of the issuer/branding. There is a new Marvel credit card. There is a Disney Visa card. There is a Mercedes Benz credit card through American Express.; the list is pretty endless. The key thing about cool is that it depends on the individual's social circle. Airline cards used to be cool, but now they have proliferated."

Excerpt from The Globe and Mail -- "'I'm asking consumers to not hold back on data but share it. When consumers do that, however, companies must act responsibly,' Mr. Ghose says."

Excerpt from The CPA Journal -- "'There’s a very high correlation between a strong ESG performance and strong operational performance, strong stock performance and lower cost of capital,' Whelan claimed, citing a study by the University of Oxford and Arabesque. Examining that phenomenon at the Center for Sustainable Business, she has found that sustainability can drive innovation, risk reduction, operational efficiency, and employee recruitment and engagement. She noted that while much of this is financially intangible, its effects can be felt on the company’s bottom line."

Excerpt from Forbes -- "The overall take-away from the Google Zoo study is that Virtual Reality has the potential to relay much more powerful advertising and journalistic messages than traditional storytelling’s text, still images, and traditional video."

Excerpt from Travel + Leisure -- "'Consumers do not just focus on individual experiences. Instead, they categorize and manage experiences... For positive experiences, consumers are reluctant to eliminate categories, while the opposite is true for negative experiences because eliminating categories makes it feel like more of the experience has passed,' write authors Anuj K. Shah (University of Chicago Booth School of Business) and Adam L. Alter (New York University)."

Excerpt from CNBC -- "Amazon, right now, I would argue, is the most dominant company in the world and maybe the most dominant company, at this point, that we've ever seen. If you look at the Venn overlap of who they're competing against -- Apple, Facebook, Microsoft -- they're winning wherever they're competing against any of the big tech titans. So this company feels like it has more momentum than any other company I register."

Excerpt from CNBC -- "Maria Patterson, an assistant clinical professor at NYU's Stern School of Business, considers a political approach an important part of growing a business. 'It's absolutely critical for businesses to make a considered decision of what are our values,' she said. 'Once you determine what your values are in business, then you make decisions of what kind of engagements you'll make in the political arena.'"

Excerpt from The Island -- "Stephanie Tully, assistant professor of marketing at University of South Carolina Marshall, and Tom Meyvis, marketing professor at the New York University Stern School of Business, conducted two experiments. They found that participants who thought about a future experience predicted they would think about and talk about their experience more often than other participants reported actually having done for a past experience."

Excerpt from Press Mentor -- "'I think Republicans need to take income inequality more seriously,' said social psychologist Jonathan Haidt, who teaches Ethical Leadership at New York University’s Stern School of Business. It’s 'not because I favor equality of outcomes. I do not. I think the Right is correct to stress merit and earned rewards, not handouts and forced equality. But I think what Republicans are blind to is that power corrupts.'"

Excerpt from Inc. -- "'If he was stepping down purely because he wanted to go do something else, he would have waited until there was a successor in place,' suggests J.P. Eggers, an associate professor of management at NYU's Stern School of Business. 'The timing seems a little odd,' he added."

Excerpt from Bloomberg -- "More households have [Amazon] Prime than go to church, voted in the election or have a landline phone. And if trends continue, in about three years more people are going to have a pipe of stuff into their home vis-a-vis Amazon Prime than cable television. So Amazon now has a commercial relationship with the wealthiest households in the world and it's growing faster than any other relationship."

Excerpt from The Economist -- "Declining competition does more than harm some consumers; it makes firms lazy. The authors calculate that if leading firms had maintained their share of overall investment since 2000, the American economy would have 4% more capital today, an amount roughly equivalent to two years’ investment by non-financial companies."
 

Excerpt from Greek Reporter -- "The Greek loan is so small it does not matter that is expensive, but if Greece were to go out in the markets by the end of 2018 paying the same interest of 4.6% it would be completely irresponsible, Economides warns. 'It would not be a way out of the crisis. The Greek debt is completely unsustainable and now we are adding to the debt.'"

Excerpt from PsychCentral -- "New York University researchers discovered people with higher cognitive abilities are more likely to learn and apply social stereotypes. However, in a series of experiments, investigators discovered that those with elevated intelligence can also easily unlearn stereotypes when presented with new information."

Excerpt from the Financial Times -- "An intriguing new blog post by Stephen Cecchetti and Kermit Schoenholtz draws attention to a third trilemma, one concerning international financial policy. The trilemma here is between cross-border financial flows (again), national as opposed to global financial regulation and financial stability."