Experience Stern | News & Events

Excerpt from Bloomberg TV -- "I think Aereo is the Napster of our generation. I think it's going to be put out of business. They're taking on a 57 billion dollar industry whose infrastructure ... you can use technology to steal, and that's effectively what the industry will say these guys are doing."

Excerpt from Smithsonian Magazine -- "Even the perception of speed can be deceptive. When things come easily or quickly, when we don’t have to struggle, we tend to feel smarter, a concept termed fluency. In one study, Adam Alter and fellow psychologists at New York University asked volunteers to answer a series of questions typed in either a crisp, clear font (a fluent experience) or a slightly blurred, harder to read version (a disfluent one). The people who had to work harder ended up processing the text more deeply and responding to the questions more accurately."

Excerpt from Minnesota Public Radio -- "We're the first business school to take [human rights issues] on and I'm proud that Stern has done that. This should be taught at every business school, frankly. And people coming out of business school ought to have opportunities to go work in companies in the operational side to lead companies who have some background in human rights. By and large, I don't think that exists today."

Excerpt from HBS Working Knowledge -- "Zhu has other research in the works related to ad-sponsored business models, including one with Robert Seamans at New York University that considers how ad-sponsored free newspapers affect pricing and content delivery strategies of incumbent newspapers that charge subscription fees."

Excerpt from Project Syndicate -- "Indeed, as was the case with the global financial crisis, investors seem unable to estimate, price, and hedge such tail risks properly. Only time will tell whether their current nonchalance constitutes another failure to assess and prepare for extreme events."

Excerpt from The Globe and Mail -- "Companies with corporate jets underperform market benchmarks for average shareholder return by 4 per cent, New York University Professor David Yermack found. One interesting tidbit in the study, Bryant University Professor Michael Roberto notes, is that companies with jets also tend to have CEOs with long-distance golf club memberships."

Excerpt from Crain's New York -- "'To have this dealership model hardened into stone is purely protectionist and gets in the way of efficient distribution,' said NYU's Mr. White. Forcing Tesla—which makes relatively few cars and sells them at a high price point to a narrow consumer base—to engage in wholesale relationships with franchises would cripple the company and doom the franchises, he said."

Excerpt from The New York Times -- "Christie’s, the auction house, has estimated that the core of the collection would sell for $454 million to $867 million. But those figures cover only a fraction of the museum’s art; others have put the total value much higher. Foundations and individual donors have already pledged hundreds of millions to keep the collection off the auction block, but whether they will succeed remains uncertain."

Excerpt from The Economist -- "Rosa Abrantes-Metz of New York University’s Stern School of Business, whose number-crunching helped expose the LIBOR affair, thinks the Americans are too sceptical. She argues that market screening, like the medical sort, is useful as an indicator that prompts further investigation."

Excerpt from The New Yorker -- "In 2012, an economic analysis by Masakazu Ishihara, of New York University, and Andrew Ching, of the University of Toronto, found that if used games were to disappear from the market and new games stayed at current prices—which would effectively make the games more expensive for the buyer—the average profits per game would fall by ten per cent."

Excerpt from MarketWatch -- "Studies show that consumers have a blind spot when it comes to hidden fees, says Vicki Morwitz, a professor of marketing at the Stern School of Business at New York University. 'When firms separate surcharges from the base price, research shows that consumers do not fully notice them or integrate them into their estimates of total costs,' she says. 'In the short run, I am not surprised that [StubHub’s new pricing] affected sales, since we know that price perceptions influence sales.'”

Excerpt from BNN -- "The amount of contracts outstanding linked to interest rates like Libor and Euribor et cetera, those are in the region of 600 to 700 trillion dollars, so the sheer size of these markets has increased tremendously, and that increases the potential for profit if one is able to manipulate one or other of these rates or prices. On the other hand, the technology for detection of manipulation has also improved... so we are able to trace things that probably we were not able to even a few years ago. So these two factors are at work, but my own feeling is, given the stakes that are at work here, the incentive to manipulate has been substantial and a few unscrupulous people have been able to derive substantial profits and, of course, a few are being caught today."

Excerpt from Bloomberg TV -- "Back to this whole idea that innovation changes radically when companies go public: This is how innovation happens for publicly traded companies. They go in and they make these deals, they make these acquisitions, they invest in things to kind of grow the portfolio as opposed to deepening what they are already in."

Excerpt from Bloomberg TV -- "First of all, you have a bunch of countries that are fragile independent of the Fed, like Argentina and Venezuela and the domestic political and economic dynamic of it is going to matter more than what the Fed does... Secondly, I would say that within Latin America, there are some countries that are actually much more sensitive to the China risk rather than the Fed risk. Take, for example, Peru or Chile... For them, Fed normalization is not going to be a big shock."

Excerpt from Reuters -- "...it's back to what the firm has done well for a long time, which is the Office suite. But it's kind of saying we're going to favor one of the children of the company as opposed to the other, as opposed to trying to keep them together as they've been doing for the last 20-something years."

Excerpt from The Wall Street Journal -- Arun Sundararajan, a professor at New York University's Stern School of Business, said Citi Bike's success supported an argument for more private financing from higher fees and more corporate sponsorship -- not public funding. 'Right now the large revenue bet should be on annual subscribers,' he said. If annual memberships rose to as much as $140, 'it seems very unlikely to me that a lot of people would not renew because of price.'"

Excerpt from Bloomberg TV -- "There's differences between culture and differences within the company, but when you think about the example you're setting for your own organization in some ways, about what responsibility means within your organization and kind of how you think about conveying bad news...that sends a signal for how bad news should be conveyed within an organization if you send it out by text message."

Excerpt from CBS -- "Apart from New York and Las Vegas, I think in pretty much every other US city in ten years, taxi service is going to be completely dominated by these platforms."

Excerpt from Marketplace -- "The model is that they [the theaters] share the revenues from the tickets with the studios who get the bulk of the revenue right up front."

Excerpt from TIME -- “'In the future, donors will be a lot more circumspect and skeptical about putting in money, especially in projects where they could have even an inkling of an idea that this might be bought out by a tech giant like Google, Facebook, or Apple,' says Anindya Ghose, a professor at New York University who studies the crowdfunding sector. 'They do not believe in backing projects for financial, commercial reasons. For them it’s a lot about a cause or altruism.'”

Excerpt from Forbes -- "NYU finance professor Aswath Damodaran updated his take on Tesla on his blog this week, admitting the company has made significant strides since he last pegged its value at around $67 a share last September. Still, for all the projected positives, Damodaran doesn’t see enough to justify the current lofty price levels and puts the current value somewhere between $99 and $119 (depending on the timing of option exercises)."

Excerpt from CNBC -- "'Last time around it took them two years to normalize from 5 to 5.25, too little too late … they created the biggest housing, real estate credit and equity bubble,' Roubini said Tuesday on CNBC's 'Closing Bell.'"

Excerpt from MarketWatch -- "The study — entitled Buffett’s Alpha — was published last November by the National Bureau of Economic Research. Its authors, all of whom boast strong academic credentials, work for AQR Capital Management, a money management firm: Andrea Frazzini and Lasse Pedersen, both finance professors at New York University, and David Kabiller, one of AQR’s founders."

Excerpt from The Daily Beast -- “'We commissioned the study to assess and evaluate the content of the textbooks with the intention of sharing our findings with the Saudi government and with the option, depending on the findings, of making it public if the problems persisted,' Posner told the Daily Beast."

Excerpt from The Huffington Post -- "Should leaders who want to create high-performing companies try to foster feelings of wonder in their employees? The evidence suggests that the answer is yes. Not only is wonder a component of The Third Metric, but it has been shown to move the meter on the other three components: well-being, wisdom, and giving."