Faculty News

Professor Arun Sundararajan explains how TaskRabbit users can earn high wages

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Excerpt from CNBC -- "'I've got clear evidence that the wage rates on TaskRabbit across every profession, are significantly higher than the Bureau of Labor Statistics average for the same profession,' said Arun Sundararajan, a professor at New York University's Stern School of Business. Sundararajan said because customers will rate a 'taskers' performance on the website, taskers who engage in things like plumbing, electrical work, editing or moving, can charge higher rates if they get good reviews. Those assessments then provide another benefit for a tasker, more jobs."
Faculty News

Professor Nicholas Economides discusses the possible ramifications of Greece exiting the eurozone

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Excerpt from Bloomberg View -- "The ramifications of demerging would go beyond economics. 'Greece would become a small country in the Middle East,' Economides said. 'Instead of being in the center of Europe, it would be subject to the larger powers of the Middle East, in particular its biggest neighbor Turkey, which would be a national disaster.'"
Faculty News

Professor Thomaï Serdari on the growth of the luxury marketing sector

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Excerpt from BusinessBecause -- "There are also opportunities in marketing, according to Professor Thomaï Serdari, strategist in luxury marketing and branding at NYU Stern School of Business. 'The field of luxury marketing, as an academic and business discipline, is growing as the luxury market grows,' she said."
Faculty News

Professor Nicholas Economides discusses the referendum on Greece's bailout terms

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Excerpt from Bloomberg -- "[The referendum] was quite unexpected. I thought that the Greek government and the lenders were very close to an agreement and then suddenly, the Greek prime minister did not want to take responsibility for the agreement and instead called a referendum to throw the responsibility to the Greek people."
Faculty News

Professor Anindya Ghose on the crowdfunding campaign to bail out Greece

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Excerpt from The New York Times -- "But a crowdfunding campaign to bail out a country seems to be a first, according to Anindya Ghose, a professor of information technology and marketing at New York University’s Stern School of Business, who has been researching crowdfunding for the past six years. 'It’s very unique,' Mr. Ghose wrote in an email. In at least one way, though, the campaign and the reaction to the crisis in Greece fit into what Mr. Ghose has seen in his research: Altruism is a key motivating factor inspiring people to donate."
Faculty News

Professor Nicholas Economides on the impact of Greece's crisis on Greek New Yorkers

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Excerpt from The Wall Street Journal -- "For Greek New Yorkers, the crisis has both emotional and practical implications, said Nicholas Economides, an economics professor at New York University’s Stern School of Business. 'They are seeing a disaster unfolding in front of them, but they are far away,' he said. Because the banks are closed and withdrawals at ATMs are limited, there is no feasible way to send money to relatives living there."
Faculty News

Professor Scott Galloway on the relationship between online and in-store shopping

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Excerpt from The Washington Post -- "'Consumers are basically browsing and decision-making has moved online,' said Scott Galloway, a professor who teaches marketing and branding at New York University’s Stern School of Business."
Faculty News

Professor Nicholas Economides shares his thoughts on a resolution to the Greek crisis

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Excerpt from Al Jazeera -- "The way out is for Greeks, who are overwhelmingly pro-Euro, to vote 'yes' and then have a renegotiation, hopefully with a different government in charge in Greece, with the creditors, and have a reasonable solution. Greece is not a crazy place. It's not a very poor place... Greece is not a third world country. Greece is in the center of Europe and can easily remain in the center of Europe with a 'yes' vote."
Faculty News

Professor Nicholas Economides on the economic contagion that may result from a Greek "no" vote

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Excerpt from CNN -- "The problems of Greece is that if it goes to Grexit, it's going to be a total disaster mode... It's the most irresponsible government I've seen in Greece in decades. There is no concern about contagion in other countries; the problem is that Greece cannot even deal with its own problems... The full drama, the disaster is going to be in Greece and not the rest of the European Union."
Faculty News

In an op-ed, NYU Global Research Professor Ian Bremmer discusses the potential financial consequences of failed debt talks in Greece

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Excerpt from LinkedIn -- "Since January 2015, 59 Greek businesses have closed down each day on average. Banks have hemorrhaged cash; since mid-December 2014, when elections were announced, more than €40 billion has been withdrawn by depositors. That includes more than €5 billion last week alone, and that was before Tsipras’ surprise announcement of a referendum announcement and subsequent capital controls. The true cost of shutting down Greek banks for a week are still too difficult to calculate, but it’s safe to assume it will cost Greece at least hundreds of millions of euros in lost economic activity."
Faculty News

In an op-ed, Professor Nouriel Roubini explains why many emerging markets can withstand US interest rate hikes

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Excerpt from Project Syndicate -- "Above all, most emerging markets are financially more sound today than they were a decade or two ago, when financial fragilities led to currency, banking, and sovereign-debt crises. Most now have flexible exchange rates, which leave them less vulnerable to a disruptive collapse of currency pegs, as well as ample reserves to shield them against a run on their currencies, government debt, and bank deposits. Most also have a relatively smaller share of dollar debt relative to local-currency debt than they did a decade ago, which will limit the increase in their debt burden when the currency depreciates. Their financial systems are typically more sound as well, with more capital and liquidity than when they experienced banking crises. And, with a few exceptions, most do not suffer from solvency problems; although private and public debts have been rising rapidly in recent years, they have done so from relatively low levels."
Faculty News

In a co-authored op-ed, Professor Nicholas Economides urges Greece to sign a debt agreement

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Excerpt from CNBC -- "The multi-month negotiation between Greece and the Europeans has not yet reached an agreement. The long negotiation has created unprecedented and unnecessary uncertainty that has brought the Greek economy to a standstill. Without an agreement, Greece will default in July within the euro or outside of the euro ('Grexit')."
Faculty News

Professor Nicholas Economides outlines the steps that Greece must take to spur economic growth

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Excerpt from CNN -- "No country ever pays back its debt - the United States doesn't, Britain doesn't, nobody does. What they do is service it - they pay the interest on it. And Greece is extremely likely to have most of its debt held by the European partners and by the stability mechanism; that debt right now has an interest rate of about 1.8%. So though it [the debt] is huge, it has a very small servicing cost and Greece can in fact service it. The crucial question for Greece is to get out of this cycle of asking for money, to reform its economy, to do well, to grow, and be able to pay the debt. I don't think there will be any problem whatsoever paying the money forever for this debt if Greece grows. So the crucial thing we should aim for in any agreement is how do we get the Greek economy to perform better, to be more competitive, to be in better shape compared to the rest of the world and be able to grow. Once we do that, once we get there, Greece will do great."
Faculty News

Professor Nicholas Economides reacts to Greek Prime Minister Alexis Tsipras's referendum on Greece's negotiations

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Excerpt from Bloomberg -- "'The probability of Greece leaving the euro, sadly, has only increased with this decision,' said Nicholas Economides, Professor at the Stern School of Business at New York University, in a phone interview."
Faculty News

In an op-ed, Professors Charles Murphy and Roy Smith share advice for young financial analysts

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Excerpt from the Financial Times -- "We have some advice that might help young analysts get through the initial two years: first, relax a little. Remember that the training is all about establishing a reputation for being professionally reliable, which means getting the work done accurately and on time ... Second, learn to handle chaos and disorder. ... Third, a tough training environment is going to have to be endured before you can really judge whether or not the work (and the career) is what you want." 
Faculty News

Professor Nicholas Economides discusses the looming referendum in Greece

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Excerpt from CNN -- "Unfortunately, the Greek government made such a crazy decision yesterday...it gambled with the whole future of Greece and let the decision be at the hands of the ECB and the Eurogroup. This, in my opinion was a totally irresponsible move. There was an opportunity to make a deal... Instead we're going through this crazy adventure of a referendum and the last referendum that happened in Greece was 40 years ago... it's very strange for the Greek system."
Faculty News

Professor Arun Sundararajan on the ridesharing service HopSkipDrive

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Excerpt from The New York Times -- "'It’s absolutely critical that they don’t sacrifice safety over speed of growth,' [Sundararajan] said, adding that a major car accident involving a HopSkipDrive vehicle, or an untrustworthy driver in the company’s ranks, could be catastrophic for the business. Creating a plan for such an event, the way some companies set up product-recall plans, would be wise, he said."
Faculty News

Professor Arun Sundararajan explains the appeal of the sharing economy to millennials who seek a car-free lifestyle

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Excerpt from the Los Angeles Times -- "'People below the age of 30 are much more likely to identify with their mobile and computing devices than the cars,' said Arun Sundararajan, a professor of information, operations and management sciences at New York University. 'Autos just aren't the identity-making purchase that they once were.'"
Faculty News

Professor Adam Alter discusses the placebo effect

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Excerpt from Refinery29 -- "'Placebos work precisely because you expect them to have a particular effect,' Dr. Alter explains. 'There can’t be a placebo effect unless someone — or the text on a product label — suggests that it should have a certain effect on you.'"
Faculty News

Professor Aswath Damodaran's measurement of the stock market is highlighted

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Excerpt from The Globe and Mail -- "Aswath Damodaran, a professor of finance at New York University, likes to gauge the market by keeping tabs on the so-called equity risk premium, which he says is 'the one number that best sums up investors’ hopes, fears and expectations.' In more precise terms, the equity-risk premium is the expected extra return that investors demand over and above what they could get on safe government bonds before they will agree to buy stocks. Prof. Damodaran’s estimate of the premium at the start of June was 5.74 per cent, far higher than the norm of 4.07 per cent during the past half century."
Faculty News

Professor Thomaï Serdari on Louis Vuitton's new behind-the-scenes videos

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Excerpt from Luxury Daily -- "'Having shifted away from mere marketing of products, most luxury brands have redirected their focus on marketing experiences,' said Thomaï Serdari, Ph.D., founder of PIQLuxury and adjunct professor of luxury marketing at New York University, New York. 'The best way to do that digitally is to create a 360-degree overview of the brand that highlights the processes of production, the people involved, the various stages outlined in bringing a concept to life and to the hands of the consumer and finally, the context within which it all takes place,' she said."
Faculty News

Professor Jonathan Haidt's research on leadership is cited

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Excerpt from The Atlantic -- "And an interesting study shows that when leaders are fair to the members of their team, the team members display more citizenship behavior and are more productive, both individually and as a team. Jonathan Haidt at New York University Stern School of Business shows in his research that when leaders are self-sacrificing, their employees experience being moved and inspired."
Faculty News

In an op-ed, NYU Global Research Professor Ian Bremmer examines the responses from presidential candidates to questions about the display of the confederate flag in South Carolina

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Excerpt from TIME -- "[The presidential candidates] should have long ago ignored what the polls were saying and told us directly whether they believed the flag should continue to fly and why. Now they’ll never have to, claiming they were vindicated in allowing the state of South Carolina to make the “right” decision for themselves. These candidates should have acknowledged outright that the Confederate flag is a clear symbol of racism and hatred, the same type of racism that claimed the lives of those 9 people in the church."
Faculty News

Professor Karen Brenner on the social responsibilities of businesses

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Excerpt from NBR -- "Society gives [corporations] a license to operate by making certain concessions and accommodations to businesses. And they employ large numbers of people, affect large numbers of communities all across the globe. So, they are a part of civil society, and how they go about doing their business, how they create goods and services and how they market those services have a huge impact on society. So, it's not at all surprising that in the wake of this tragedy, the politicians have rallied very swiftly and the retailers have rallied to make changes that probably should have been made quite a long time ago."
 

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