In the News 2016

Zingales: Italy Has to Stick to the Rules

December 30, 2016 | Bloomberg

Chicago Booth School of Business Professor Luigi Zingales weighs in on a Banca Monte Paschi di Siena rescue. He speaks on "Bloomberg Surveillance."

Zingales: Media Trashing Probably Helped Trump

December 30, 2016 | Bloomberg

Chicago Booth School of Business Professor Luigi Zingales discusses the rise of populism. He speaks on "Bloomberg Surveillance."

Greene: Starting to See Some Impact of Brexit

December 30, 2016 | Bloomberg

Manulife Asset Management Chief Economist Megan Greene and Chicago Booth School of Business Professor Luigi Zingales weigh in on Brexit. They speak on "Bloomberg Surveillance."

What to Expect From Trump's First 100 Days

December 30, 2016 | Bloomberg

University of Chicago Booth School of Business Professor Luigi Zingales discusses alleged Russia hacking and his outlook for President-Elect Donald Trump's first 100 days. Zingales speaks on "Bloomberg Surveillance."

A week in Chicago at the best business school in the world

Dec. 21, 2016 | Ján Záborský | TREND Magazine

The Chicago Booth School of Business, as this part of the university is known, is often ranked as the best business school in the world. We spent a week there exploring how such a school can be built and what needs to be done to keep it at the top of its game.

Lubos Pastor: How to do good research? Look around you

Dec. 21, 2016 | Ján Záborský | TREND Magazine

The Slovakian professor at the University of Chicago Booth School of Business conducts research on financial markets. What attracts him to markets is the combination of math and luck.

Little Improvements Crowd Out World-Changing Innovation

December 14, 2016 | Bloomberg

In a similar vein, the University of Chicago’s Luigi Zingales recently offered this explanation for the rise in corporate profits’ share of U.S. gross domestic product: My hypothesis is that markups have increased because firms became better at creating product differentiation and erecting barriers to entry.

The Fed Raises Interest Rates

December 14, 2016 | The Atlantic

“The Fed has not seen significant inflation pressure or wage pressure, and was concerned about the pace of economic growth. So they waited until the end of the year,” said Randall Kroszner, an economics professor at the University of Chicago Booth School of Business and a former Governor of the Federal Reserve System.

Are We in for an Accelerated Path of Fed Rate Hikes?

December 14, 2016 | Bloomberg

Randy Kroszner,economics professor at the University of Chicago Booth School of Business and former Federal Reserve governor, discusses the Fed's decision to raise interest rates and the outlook for rate hikes next year with Bloomberg's Betty Liu and Yvonne Man on "Bloomberg Daybreak: Asia."

Donald Trump to CEOs: Look out

December 12, 2016 | CNN

"I'd be ready. I'd put a new red phone on my desk if I were CEO," says Craig Wortmann, a clinical professor of Entrepreneurship at the University of Chicago Booth School and CEO of Sales Engine Inc.

Psychology of Decision-Making: How It Impacts Markets

December 12, 2016 | Bloomberg

Richard Thaler, director of the center for decision research at the University of Chicago Booth School of Business, discusses voter sentiment on Donald Trump and its impact on markets.

The Perfect Gift? It’s the One They Asked For

December 12, 2016 | The New York Times

There was just one situation in which the thought counted: when someone received a bad gift from a friend or relative. The researchers, Yan Zhang and Nicholas Epley, approximated this scenario by raising the recipient’s expectations.

Gifts That Santa, the World Traveler, Would Love

December 12, 2016 | The New York Times

A newly published study conducted jointly by the Booth School of Business at the University of Chicago and Cornell University, found that recipients felt more grateful when thinking back on experiential gifts they received like travel, than when they recalled things like clothing or electronics.

The Art of Suggested Donation Amounts

December 11, 2016 | The Wall Street Journal

That’s the question researchers from the University of Chicago’s Booth School of Business set out to answer in a recent study. Associate professor of marketing Oleg Urminsky, a professor of marketing, and Indranil Goswami, then a doctoral candidate at Booth and now an assistant professor at the University at Buffalo’s School of Management, hoped to create a mathematical model to help nonprofits predict the most effective amount for suggested donations.

Here’s what it takes to be part of the 1%: Start out rich (and have rich friends)

December 7, 2016 | MarketWatch

“The types of programs that produce a disproportionate share of the very richest people are also the programs where there’s a much smaller return for people who aren’t from very wealthy backgrounds,” said Seth Zimmerman, an economics professor at the University of Chicago Booth School of Business and the author of the study.

Michael Lewis's New Book Profiles Daniel Kahneman, Amos Tversky

December 6, 2016 | Bloomberg

The origin of the book is worth some amplification: a review of Lewis’ "Moneyball" in The New Republic by University of Chicago economist Richard Thaler and my Bloomberg View colleague Cass Sunstein gently took Lewis to task for failing to recognize the origins of the cognitive errors he described in the book.

Surveillance: Europe, as a Construct, Is Failing, Bremmer Says

December 6, 2016 | Bloomberg

Also, Luigi Zingales, a professor at University of Chicago’s Booth School, says it’s the dawn of Donald Trump’s crony capitalist world.

Zingales: ECB Taper Would Be a Problem for Italy

December 5, 2016 | Bloomberg

Luigi Zingales, professor of finance at University of Chicago Booth School of Business, discusses the future of Italy's Democratic Party and explains why a move to taper by the European Central Bank would be a problem for both Italy and the Italian banks.

Is Trump a Berlusconi? Or more like Mussolini?

December 4, 2016 | The Washington Post

In a New York Times op-ed that appeared just after the U.S. elections, University of Chicago business professor Luigi Zingales argued that Democrats should look at the strategy of the Italian center-left, which defeated Berlusconi by treating him as a normal politician, not engaging him on issues of character or ethics, and cooperating on policies of mutual interest.

November jobs report to convince the Fed?

December 2, 2016 | CNBC

Discussing the November jobs report with Kevin Hassett, American Enterprise Institute; Austan Goolsbee, University of Chicago Booth School; and CNBC's Steve Liesman and Rick Santelli.

Trump won in counties that lost jobs to China and Mexico.

December 2, 2016 | The Washington Post

In op-ed, Chicago Booth scholars study effects of foreign import competition on 2016 election.

University of Chicago to invest $25 million in student and faculty startups

December 2, 2016 | Chicago Tribune

John Flavin, who leads the Polsky Center for Entrepreneurship and Innovation at the University of Chicago, said the investments will signal to the market that the university is excited about the companies it's producing.

Austan Goolsbee: Going back to banking's bad old days is a 'terrible, terrible idea'

December 1, 2016 | CNBC

Former Council of Economic Advisers chairman Austan Goolsbee told CNBC on Wednesday that it would be a "terrible, terrible idea" to gut banking regulations and go back to the days before the financial crisis.

Trump to the Rescue or Troubling Precedent?

December 1, 2016 | U.S.News

Austan Goolsbee, an economics professor at the University of Chicago, offered a similar assessment Wednesday during an interview with Megyn Kelly, noting that "this is not what Donald Trump promised to do."

Why lots of people think Trump's deal to save 1,000 Indiana jobs was a bad idea

December 1, 2016 | Washington Post

“It favors people with connections rather than favoring the country as whole,” said Luigi Zingales, an economist at the University of Chicago. “Rather than the idea of draining the swamp, this is like flooding the swamp.”

Understanding the Trump Trade Agenda

December 1, 2016 | The Wall Street Journal

While the real wages of unskilled workers have stagnated over the past 30 years, the premium earned by Americans with a four-year college degree has more than tripled, according to a recent study by the University of Chicago’s Kevin Murphy and Robert Topel.

The Lessons Learned From Silvio Berlusconi's Leadership

November 29, 2016 | Bloomberg

Luigi Zingales, a professor at the University of Chicago Booth School of Business, discusses the parallels between Silvio Berlusconi and President-elect Donald Trump.

How Donald Trump's immigration plan could hurt tech and its workers

November 28, 2016 | Chicago Tribune

Worse, the businesses that depend on high-skill technical talent will suffer and so will the nation’s competitive advantage, since foreign entrepreneurs drive innovation, jobs and the economy....“I have students whose visas will be up soon,” said Ellen Rudnick, adjunct professor of entrepreneurship at University of Chicago’s Booth School of Business. “One student is already thinking of moving to Canada. They’re all scared.”

Big Business Share of Federal Taxes Lowest Since 2011

November 25, 2016 | Bloomberg BNA

Total business income in 2011 was $2.6 trillion, so an additional 3.8 percentage points would have generated an additional $100 billion in tax revenue,” wrote the authors, who included five Treasury Department staffers, two professors from the University of Chicago (Assistant Professors Eric Zwick and Owen Zidar) and an assistant professor from the University of California at Berkeley.

Will grieving Hillary Clinton supporters spend more this holiday season?

November 18, 2016 | Chicago Tribune

Feeling sad tends to make people more short-sighted, focusing on immediate needs and desires at the expense of long-term interests, or can make people more generous because they wish to feel better about themselves, said Oleg Urminsky, professor of marketing at the University of Chicago's Booth School of Business.

Best Business Schools 2016

November 16, 2016 | Bloomberg Businessweek

Businessweek today published its 2016 ranking of full-time MBA programs. Chicago Booth was ranked 4th. In the previous ranking, Booth was 2nd.

Uncertain business

November 15, 2016 | The Economist

Businesses will refrain from making hard-to-reverse investments if they are unsure about the future. Helpfully, three economists—Scott Baker of Northwestern University’s Kellogg School of Management, Nick Bloom of Stanford University, and Steven Davis of the University of Chicago Booth School of Business—have developed an index of economic-policy uncertainty that monitors this.

Surveillance: Don’t Reject Trumponomics, Skidelsky Says

November 15, 2016 | Bloomberg Radio

Tom Keene and David Gura talk to Robert Skidelsky, a historian & House of Lords member, about Donald Trump’s economic plan, which Skidelsky says is broadly a fiscal stimulus package. Then, Luigi Zingales, a professor at the University of Chicago Booth School of Business, says Trump’s inexperience means he will depend heavily on his advisers.

Demonetisation: Why I will give Narendra Modi 50 days to reset the system

November 15, 2016 | MSN

The parallel economy thrives on cash because unlike digital transactions, it leaves no footprint. Economists such as Richard Thaler of Chicago University or Harvard Professor Kenneth Rogoff believe that an economy overwhelmingly dependent on cash is more prone to corruption and in such a regime, the poor are the hardest hit.

How Two Trailblazing Psychologists Turned the World of Decision Science Upside Down

November 14, 2016 | Vanity Fair

And so, once the dust had settled on the responses to my book, one of them remained more alive and relevant than the others: a review by a pair of academics, then both at the University of Chicago—an economist named Richard Thaler and a law professor named Cass Sunstein. Thaler and Sunstein’s piece, which appeared on August 31, 2003, in The New Republic, managed to be at once both generous and damning.

Robert Samuelson: Trump's Mission Impossible?

November 13, 2016 | The Washington Post

Greater U.S. uncertainty “foreshadow[s] declines in investment, output and employment,” write economists Scott R. Baker of Northwestern University, Nicholas Bloom of Stanford University and Steven J. Davis of the University of Chicago, in the Quarterly Journal of Economics.

On Choosing Trump and Being Bad

November 12, 2016 | The New Yorker

In March, 2012, when the University of Chicago Booth School of Business polled a panel of economic experts, fifty-six per cent agreed and another twenty-nine per cent strongly agreed that “Freer trade improves productive efficiency and offers consumers better choices, and in the long run these gains are much larger than any effects on employment.”

There is a downside to being upbeat, U. of C. researcher finds

November 12, 2016 | Chicago Sun-Times

Despite conventional wisdom - and the advice of countless self-help books - being exceptionally happy might cost you, says Emma Levine, a behavioral psychologist at U. of C.'s Booth School of Business and co-author of a new study.

Most Bitter Campaign of Our Lifetime: Austan Goolsbee

November 8, 2016 | Bloomberg

University of Chicago Professor Austan Goolsbee discusses the U.S. presidential election, overcoming political gridlock, and what he sees from a Hillary Clinton presidency.

Opinion: Do markets really hate uncertainty? Not at all

November 8, 2016 | MarketWatch

Confronted with the anemic recovery from the deep 2007-2009 recession, economists Scott R. Baker and Nicholas Bloom of Stanford University and Steven J. Davis of the University of Chicago, created an index to capture economic policy uncertainty.

In Chicago, can 'thinking slow' prevent crime?

November 5, 2016 | Christian Science Monitor

“Some 70 percent of homicides stem from an altercation that escalates. They’re murders that sort of happens in the moment,” explains Anuj Shah, an associate professor of behavioral science at the University of Chicago Booth School of Busines, who co-authored the study.

A Guide to Getting a Bachelor’s Abroad

November 2, 2016 | The New York Times

The “lion city” (Singapore) is known for its thriving, globalized economy and is fast becoming a hub of higher education. The universities, like the top-flight National University of Singapore (tuition: $21,125), are as international as the city, with one in five students from abroad. The University of Chicago Booth School of Business, Yale and the Technical University of Munich are among private Western universities with collaborative programs there.

No one's priced in a Trump win: Investor

November 1, 2016 | CNBC

Pension Partners' Edward Dempsey and the University of Chicago Booth School's Randy Kroszner discuss what a Trump presidency would mean for markets and the Fed.

5 Facts to Know About Smart Beta ETFs

October 27, 2016 | U.S. News & World Report

Smart beta has its roots in academic research from University of Chicago professor Eugene Fama and Dartmouth professor Ken French, who discovered investment factors such as a company's size, a firm's price-book ratio and market risk proved to outperform the basic S&P index over time. Since then other factors have been added.

Global uncertainty about economic policy is at record highs

October 26, 2016 | CNBC

"Newspapers are imperfect mirrors of reality," said Steven Davis, a professor at the Booth School of Business at the University of Chicago and the author of the latest paper on the index project. "They pick up some of the information about sentiment and outlook that may not be captured by traditional sources, but they also shape people's perceptions of reality."

5 Must-Haves in a Globally Focused MBA

October 26, 2016 | U.S. News & World Report

Philip Berger, deputy dean of part-time MBA programs at the University of Chicago Booth School of Business, says some schools' international academic programs pale in comparison with their core programs.

Global uncertainty about economic policy is at record highs

October 25, 2016 | CNBC

"Newspapers are imperfect mirrors of reality," said Steven Davis, a professor at the Booth School of Business at the University of Chicago and the author of the latest paper on the index project. "They pick up some of the information about sentiment and outlook that may not be captured by traditional sources, but they also shape people's perceptions of reality."

With A Long Pitch On PLAY And DLTR, Booth Grads Win Ross Stock Competition For Third Year In A Row

October 25, 2016 | Forbes

This year, Jack Zhao, Wyan Yarbrough, and Brett Bateman from Chicago Booth won the competition as they pitched a long recommendation on Dave & Buster’s Entertainment (NASDAQ:PLAY) and Dollar Tree (NASDAQ:DLTR).

AT&T's Mega-Merger Has Political Implications, as Well as Financial

October 24, 2016 | NBC News

"If she doesn't have an opinion yet, I think the imperative put on her will be [to say] what is her opinion," said Austan Goolsbee, professor of economics at the University of Chicago Booth School of Business, said of Democratic nominee Hillary Clinton.

The barbarian establishment

October 22, 2016 | The Economist

This July, in an update of a previous study*, business-school professors at the Universities of Chicago, Oxford and Virginia found that, although in recent years buy-out funds had not done much better than stockmarket averages, those raised between 1984 and 2005 had outperformed the S&P 500, or its equivalent benchmarks in Europe, by three to four percentage points annually after fees.

Corporate America's old boys' club is dead -- that's why Big Business couldn't stop Trump

October 21, 2016 | UPI

If corporate money controls our politics, as Bernie Sanders and others have claimed, then how did the Republican Party – the reputed party of business – manage to nominate a candidate whom almost no one in Big Business supports? And why have so many been so silent about it: Johan Chu.

Where Was Wells Fargo's Board?

October 20, 2016 | Bloomberg

Luigi Zingales: Corporate boards are failing at their job of overseeing management. If regulators can’t address the problem, shareholders can and should.

What our sons are learning from Donald Trump

October 20, 2016 | The Sydney Morning Herald

Role models, whether parents or public figures, can help boys overcome disruptive behaviour and boys are much more responsive to this kind of attention and modelling than girls are, according to a study by Marianne Bertrand of the University of Chicago and Jessica Pan of the National University of Singapore.

Can Behavioral Economics Make Winning Strategies?

October 20, 2016 | Bloomberg

Richard Thaler, professor at the Booth School of Business at the University of Chicago, discusses behavioral economics and how it applies to the U.S. presidential election.

How Taking a Gap Year Can Shape Your Life

October 19, 2016 | The New York Times

A number of researchers have shown a connection between a deliberate choice to take some time off and getting better grades upon return to the classroom. Devin G. Pope, a professor of behavioral science at the University of Chicago’s Booth School of Business, saw the link among people who had served at a Mormon mission.

 

When Tech Bites Back: Innovation’s Dark Side

October 19, 2016 | The Wall Street Journal

Erik Hurst, an economist at the University of Chicago, has documented that young men without college degrees spent 3.8 hours per week on videogames in recent years, up 1.5 hours from 2004 to 2007.

Wal-Mart CEO Doug McMillon’s Ad Was Designed to Burnish Retailer’s Image

October 18, 2016 | The Wall Street Journal

CEOs generally appear in ads for two reasons: to build credibility or to acknowledge a mistake, says Pradeep Chintagunta, a professor of marketing at the University of Chicago Booth School of Business.

Bank Earnings Placate Investors, If Not Customers

October 17, 2016 | NBC News

"This is a scandal that touches at the heart of the relationship with customers," said Luigi Zingales, a professor of finance at the University of Chicago Booth School of Business. "It is really an image of breaching some fundamental trust that undermines not only the relationship with Wells Fargo, but the relationship with the financial institutions at large," he said.

Economists Have Aging on the Mind as They Face a ‘New Normal’

October 16, 2016 | Bloomberg

Steven Davis, the University of Chicago Booth School of Business economist who’s created the index, cites the European immigration crisis, concerns about China’s economic transition and the British referendum to exit the European Union.

Full time MBA ranking

October 14, 2016 | The Economist

Full time MBA ranking. 1. University of Chicago – Booth School of Business

3 Reasons to Stop Trying to Beat the Market

October 14, 2016 | U.S. News & World Report

University of Chicago researcher Eugene Fama and Tuck School of Business at Dartmouth's Kenneth French studied whether luck or skill was involved when determining the success of funds. They found that when accounting for expenses, returns didn't differ from the performance of benchmarks. Essentially, they're picking the same companies the index would.

Global Policy Uncertainty, a Drag on Growth, Is Higher Than in Crisis Years

October 13, 2016 | The Wall Street Journal

"The elevated levels of global policy uncertainty in th epast five years compared even to the crisis years of 2008-9 are remarkable," said University of Chicago economist Steven Davis.

Help for a Business Idea Trying to Catch Fire

October 12, 2016 | The New York Times

In Booth’s New Venture Challenge, 30 teams of students present business plans in April. Those are winnowed down to the 10 best by a panel of 25 business school and independent judges, said Steven Kaplan, director of the program and a professor at Booth.

Fed Minutes Point to Rate Hike ‘Relatively Soon’

October 12, 2016 | Bloomberg

“The probability of a rate hike is very likely by the end of the year,” said Randall Kroszner, an economics professor at the University of Chicago Booth School of Business and a former Fed governor.

BoE's Kashyap says worried about spillover from EU banking woes

October 11, 2016 | Investing

Kashyap is a professor of economics and finance at the University of Chicago Booth School of Business, and joined the FPC this month for a three-year term.

Sebastian Mallaby’s Biography Shows That Alan Greenspan Foresaw the Housing Crisis. Why Didn’t He Act?

October 10, 2016 | Forbes

Randall S. Kroszner reviews ‘The Man Who Knew,’ the story of five decades of America’s economic triumph and failure.

Why Large Stocks Wake Up at This Time of the Year

October 9, 2016 | The Wall Street Journal

In the fourth quarter of all years since 1926, according to the data compiled by University of Chicago professor Eugene Fama and Dartmouth's Kenneth French, the 20% of stocks with the largest market caps beat the smallest-cap quintile by an average of 1.3 percentage points.

Sending Potatoes to Idaho? How the Free Market Can Fight Poverty

October 7, 2016 | The New York Times

It is embedded in the research of Canice Prendergast, an economics professor at the University of Chicago Booth School of Business who documented the innovations of Feeding America, a large nonprofit organization that collects and distributes hundreds of millions of tons of food to more than 200 food banks throughout the United States.

Austan Goolsbee On Getting Back To 'Normal' And Other Economic Delusions

October 6, 2016 | Forbes

Speaking at the Leaders Circle forum at Oracle OpenWorld 2016, Austan Goolsbee, professor of economics at the University of Chicago’s Booth School of Business, cautioned business leaders not to expect a sharp uptick in GDP growth as the US limps into year seven of the current recovery.

IMF warns against protectionist sentiment

October 4, 2016 | Marketplace

One problem is that monetary policies to boost growth appear to be less and less effective. So says University of Chicago Economist, and former Federal Reserve Governor, Randall Kroszner.  

Small Talk With Strangers Sparks Happiness, Study Finds

October 3, 2016 | ABC News

Nicholas Epley, a professor of behavioral science at the University of Chicago's Booth School of Business and co-author of the study "Mistakenly Seeking Solitude?" examined whether connecting with a stranger can improve one's overall well-being.

The Benefits of a Little Small Talk

September 30, 2016 | The Wall Street Journal

“Talking with a stranger may not offer the same benefits as talking with a close friend, but we underestimate its importance to us,” says the study’s co-author, Nicholas Epley, a professor of behavioral science at the University of Chicago Booth School of Business. Dr. Epley traded in his own smartphone for a less distracting featureless phone, which has made him, he says, more open to “wonderful, short conversations with strangers.”

Staffers: Obama changed as president, but never 'went Washington'

September 29, 2016 | Chicago Tribune

(Austan) Goolsbee, 47, had known Barack and Michelle Obama for years through the University of Chicago. A Booth School of Business professor, Goolsbee had advised then-state Sen. Obama on economic issues since the 2004 U.S. Senate race, and was now tapped for Obama's White House Council of Economic Advisers.

Funding Sources Shift for Startups

September 28, 2016 | The Wall Street Journal

“One reason why new firm formation has been anemic is that prospective entrepreneurs don’t have this surplus of housing equity they could tap into,” said Steven Davis, a professor at the University of Chicago’s Booth School of Business.

Surveillance: Fed Lacks Strategy, Former Philly Fed Pres. Says

September 28, 2016 | Bloomberg

University of Chicago Booth School of Business professor of economics Chad Syverson weighs in on the productivity slowdown in the U.S. Ford Motor CEO Mark Fields says Ford is exploring more mobility services to compete with Uber and Tesla.

How to Tackle Your Grocery Bill

September 28, 2016 | Huffington Post

Economists at the Tilburg University and University of Chicago’s Booth School of Business published a paper in 2014, updated in 2015, on the buying habits of professional chefs and doctors

Candidates spar on taxes and economy

September 27, 2016 | CNBC

Discussing the economic and tax plans laid out by both Hillary Clinton and Donald Trump at the first presidential debates, with CNBC Senior Contributor Larry Kudlow and Austan Goolsbee, University of Chicago Booth School of Business Economics.

Adobe Data Shows U.K. Retail Sales Drop Following Brexit

September 23, 2016 | Yahoo!

“There has been little good, micro-level data on the real economy in the U.K. to help us understand the impact of the Brexit vote,” said Austan Goolsbee, professor of economics, The University of Chicago’s Booth School of Business and former chairman of the Council of Economic Advisers for President Obama.

Milton Friedman’s Morals

September 21, 2016 | The Wall Street Journal

Where’s Milton Friedman when you need him? In 1980, the Nobel Prize-winning economist brought the message of free markets and free trade into the homes of ordinary Americans via an extraordinary public television series called “Free to Choose.”

Norman: Waiting on a Big Drawdown in Equities

September 19, 2016 | Bloombergs

James Norman, president at QS Investors, and Chicago Booth School Professor Luigi Zingales discuss market desperation driven by a lack of volatility and the prospect of an extended draw down in equities.

Surveillance: Capital Alpha Partners’ Gabriel on the Election

September 19, 2016 | Bloombergs

Luigi Zingales, professor at The University of Chicago Booth School of Business, says the German election shows a risk of the EU moving backward. UBS Securities’ Brennan Hawken weighs in on Wells Fargo’s recent lawsuit by customers.

Can Teenage Defiance Be Manipulated for Good?

September 12, 2016 | The New York Times

“We cast the executives behind food marketing as controlling adult authority figures, and framed the avoidance of junk food as a way to rebel against their control,” explained the researchers, led by Christopher Bryan at the University of Chicago Booth School of Business and David Yeager at the University of Texas at Austin.

Exploding batteries and more: Samsung's week from hell

September 12, 2016 | Marketplace

More stress testing would have revealed the battery problems before the Note 7 launch, said Pradeep Chintagunta, a professor of marketing at the University of Chicago Booth School of Business.

Looking for a New Job Today? You're Not Alone

September 12, 2016 | Bloomberg

"Job seeker activity varies dramatically by day of the week," said the September issue of DHI Hiring Indicators, which is published by DHI, a job-data firm, in cooperation with Steven Davis, a professor of international business and economics at the University of Chicago Booth School of Business.

How to Get More Pleasure Out of Retirement Spending

September 12, 2016 | The Wall Street Journal

However, as Maya knew, this approach can limit the pleasure we get from our money. The behavioral science behind this idea comes from Christopher Hsee of the University of Chicago—in particular, his work on hedonomics, which is the application of economic principles to the study of happiness.

The Great Recession continues — for less skilled men

September 9, 2016 | MarketWatch

(Erik) Hurst, an economist at the University of Chicago’s Booth School of Business, says big changes in the U.S. economy have left millions of men stranded. Those lacking high school degrees fare the worst.

8 Secrets of Great Communicators

September 8, 2016 | Fortune

Researchers at the University of Chicago Booth School of Business put this theory to the test and what they discovered is startling. In the study, the researchers paired subjects with people they knew well and then again with people they'd never met.

These Two Universities Have Graduated the Most Venture Capital-Funded Female Startup Founders

September 8, 2016 | Fortune

When it comes to the largest amount of capital raised by alums, Penn is No. 1 at $657 million, followed by the University of Chicago’s $596 million.

Austan Goolsbee Urges Fed to Avoid Election Rate Hike

September 2, 2016 | Bloomberg

Austan Goolsbee, University of Chicago professor and strategic partner at 32 Advisors, discusses the U.S. August jobs report, why the Federal Reserve should not hike rates before the presidential election, and the prospects of a U.S. recession.

MBA students reveal how to conquer application essays

August 29, 2016 | Financial Times

Kurt Ahlm, Booth’s associate dean responsible for admissions, says the aim is as much to convey to applicants the culture of the school as it is to understand whether they would be a good fit.

The Fundamental Reason Buffett Beats the Market

August 24, 2016 | Bloomberg

Eugene Fama and Richard Thaler, two legendary finance professors at the University of Chicago, recently had a debate about whether markets are efficient.

Main Street gets a nod from Hillary Clinton

August 24, 2016 | Yahoo!

“Maintaining the entrepreneurial dynamism of the American economy is critically important for the future growth rate of the nation,” says Austan Goolsbee of the University of Chicago’s Booth School of Business, who was a top White House economist under President Obama and is an informal advisor to the Clinton campaign.

8 Amazing MBA Experiences You Can Only Have At Chicago Booth

August 23, 2016 | Business Because

Chicago Booth is one of the oldest business schools in the US, and most unique in the world.

The Life-Changing Magic of Choosing the Right Hospital

August 22, 2016 | The New York Times

But a study by health economists at Harvard, M.I.T., Columbia and the University of Chicago showed that heart attack survival gains from patients selecting better hospitals were significant, about half as large as those from breakthrough technologies.

The lost boys: Video games more fun than growing up

August 20, 2016 | The Globe and Mail

In the United States, low-skilled young men have been dropping out of the labour force in unprecedented numbers. The standard explanation is that they can’t find jobs. But Erik Hurst, an economics professor at the University of Chicago, thinks that’s too simplistic. In an online interview, he said he thinks that maybe they’re not that interested in finding jobs.

Are Women Insuring Themselves Against Low-Paid Jobs?

August 18, 2016 | The Atlantic

It also offers a peek into the different psychological mindset of women who aren’t gunning for the top echelon (like those investment bankers and lawyers working tremendously long hours, described by Marianne Bertrand) but rather avoiding a fall to the bottom.

Britain pays the price for a badly designed Brexit choice

August 18, 2016 | Financial Times

The more complicated a decision, the less desirable a referendum, writes Richard Thaler

U.S. Immigration Now Means Big Economic Payoff Later

August 18, 2016 | Bloomberg

"It’s clear from our study that ethnic diversity enhances your ability to both attract investment and do business in the world,'' said Tarek Hassan, an economics professor at the University of Chicago’s Booth School of Business and co-author on the study.

Chicago Booth to have classroom-style exec-education course in India

August 13, 2016 | Business Standard

After Harvard Business School, Indian executives now have Chicago Booth School of Business offering a classroom programme. Northwest Executive Education has partnered with University of Chicago Booth School of Business-Executive Education to launch a programme for senior executives in the Indian sub-continent.

Where does the buck stop?

August 13, 2016 | The Economist

As a new debate over multipliers flared, freshwater types stood their ground. John Cochrane of the University of Chicago said of Keynesian ideas in 2009: “It’s not part of what anybody has taught graduate students since the 1960s. They are fairy tales that have been proved false. It is very comforting in times of stress to go back to the fairy tales we heard as children, but it doesn’t make them less false.”

Here's what Macy's has to do with the stores it isn't closing

August 12, 2016 | Chicago Tribune

In a working paper for the National Bureau of Economic Research, "The Ongoing Evolution of U.S. Retail: A Format Tug-of-War," the University of Chicago's Ali Hortascu and Chad Syverson noted that, yes, e-commerce has eroded some traditional retail business, but warehouse club superstores also have flexed their muscles.

'Googlement' Pushes Aside 'Government Sachs'

August 11, 2016 | Bloomberg

In a provocative interview last month with the University of Chicago Booth School of Business’s Stigler Center, antitrust lawyer Gary Reback, a key figure in the Microsoft case in the 1990s and in European efforts against Google now, chalked up the difference partly to the growing influence of corporations in the U.S. since the Supreme Court’s Citizens United ruling in 2010, but also to Google’s special status:

When it comes to the smallest of stocks, bargains are outside of the U.S.

August 10, 2016 | USA Today

These are the stocks of companies whose market caps are among the smallest of any publicly-traded firms and trade on the assumption their earnings growth will be among the fastest. Such stocks have produced an average annualized gain of 79% in the last three months of all bull markets since the mid-1920s, according to the bull market calendar maintained by Ned Davis Research and data compiled by Dartmouth finance professor Kenneth French and University of Chicago professor and Nobel laureate Eugene Fama.

Can slow-motion video bias jury trials?

August 8, 2016 | The Christian Science Monitor

A study published in the Proceedings of the National Academy of Sciences found that viewers who watched a slow-motion video of a crime were more likely to say the crime was calculated rather than impulsive, even if they also saw a regular speed version of events unfolding as well. And premeditated crimes result in harsher sentences, according to study authors Eugene M. Caruso and Zachary C. Burns, business professors from the University of Chicago and the University of San Francisco, respectively.

Zingales: Much Easier to Run Campaign Against China

August 8, 2016 | Bloomberg

University of Chicago Booth School of Business Professor Luigi Zingales and Bank of America Merrill Lynch Head of Global Rates Research David Woo discuss GOP presidential candidate Donald Trump's trade policies. They also discusses the U.S. economy on "Bloomberg Surveillance."

The Problem With Slow Motion

August 5, 2016 | The New York Times

Watching slow-motion footage of an event can certainly improve our judgment of what happened. But can it also impair judgment?

Will Bringing Back a 1930s Banking Law Really Make Us Safer?

August 2, 2016 | Time

“Under the old regime, commercial banks, investment banks, and insurance companies had different agendas, so their lobbying efforts tended to offset one another,” contends Luigi Zingales, a professor at the University of Chicago’s Booth School of Business. “But after the restrictions ended, the interests of all the major players were aligned.”

Is This What Silicon Valley Is Really Afraid Of?

August 1, 2016 | Worth

“There’s very little support [from] the economic experts,” says Steven Kaplan, the Neubauer Family Distinguished Service Professor of Entrepreneurship and Finance at the University of Chicago’s Booth School of Business.

Fed Signals Possible Rate Hikes Moving Forward

July 27, 2016 | Bloomberg

Randy Kroszner, professor at the Booth School of Business at the University of Chicago and former Fed governor, discusses the timing of the Fed's next rate hike, how much the global economy will factor into the decision and Shinzo Abe's stimulus package.

Number of Jobless Young Men Surges: You Won’t Believe What They’re Doing With Their Time

July 27, 2016 | MoneyTalksNews

In fact, according to Erik Hurst, a macroeconomist at the University of Chicago’s Booth School of Business, employment rates among young men fell more than any other age-and-gender group of workers during the 2000s.

What Brexit says about the credibility of experts and evidence

July 27, 2016 | The Christian Science Monitor

University of Chicago professor Luigi Zingales blames a combination of monetary incentives that bias their perspective and an elitist worldview.

Ex-Obama adviser Austan Goolsbee says Fed may cut rates in 2016

July 27, 2016 | CNBC

(Austan) Goolsbee, who is now a professor at the University of Chicago's Booth School of Business, said, "It's far more likely that they'll have to reverse themselves as a number of other countries have, like Sweden and others, where they raise the rates thinking it'll be fine and then have to drop it."

What Are Young Non-Working Men Doing?

July 25, 2016 | The Atlantic

As for what they’re doing all day, Erik Hurst, an economist at the University of Chicago, is now conducting research that suggests that non-college men who aren’t in the labor market are spending a considerable amount of their time in front of screens.

What Happens When There Are Limits on Bankers’ Bonuses?

July 21, 2016 | The Atlantic

In a new working paper, Anya Kleymenova and Irem Tuna, who are professors of accounting at the University of Chicago Booth School of Business and London Business School respectively, look at one place that tried it—England, where an earnings-capping law went into effect in 2010. The law, called the Remuneration Code, specifically targets the bonuses of those making more than £500,000 a year, mandating that 60 percent of each bonus be paid out a minimum of three years after the fact.

By the Sea Where the Sirens Called, an Italian Town Beckons Tourists With Art

July 20, 2016 | The New York Times

Luigi Zingales, an economist at the University of Chicago Booth School of Business, who helped draft the social capital model for the association, said there is a political context as well.

8 Secrets Of Great Communicators

July 19, 2016 | Forbes

And it’s harder still if the first impression is a less-than-flattering one. In a study recently published in the journal Social Cognition, researchers from the University of Chicago examined what they call the “moral tipping point,” the moment when our view of someone shifts from bad to good, or vice versa — and that moment is a lot tougher to get to, they found, if we’re deciding that a person has changed for the better.

Bad First Impressions Are Hard to Shake Because People Are Lazy

July 14, 2016 | New York Magazine

“Our problem in communicating with friends is that we have an illusion of insight,” said study co-author Nicholas Epley. “Getting close to someone appears to create the illusion of understanding more than actual understanding.”

Online prices are showing signs of deflation

July 14, 2016 | CNBC

That provides more meaningful data than unadjusted indexes, said Austan Goolsbee, professor of economics at the University of Chicago's Booth School of Business and an advisor to the project. It means that if beef gets more expensive and people start buying chicken instead, the index will reflect both the change to the prices and different buying habits.

How Much Chinese Are Willing to Pay for Cleaner Air

July 13, 2016 | The Wall Street Journal

“I see this growing awareness among people who ask, ‘Why is the air so bad in Beijing these last few years?’ Yet particulate pollution levels have been roughly flat or even down in Beijing since 2008,” said Mr. (Thomas) Talhelm, who also serves as an assistant professor at the University of Chicago Booth School of Business. “It’s not that the air is getting dirtier, it’s that people are starting to see it.”

Italian banks: Essential repairs

July 10, 2016 | Financial Times

“Brexit was the spark in a place full of gasoline,” says Luigi Zingales, professor of entrepreneurship and finance at Chicago Booth University School of Business. “The issue is not only non-performing loans. There is a lack of credibility … of the Italian banks vis-à-vis the market. You cannot minimise problems for years and then be believed.”

Will low interest rates drive up consumer spending?

July 7, 2016 | Marketplace

Notes Randall Kroszner, a professor of economics at the University of Chicago’s Booth School of Business who served from 2006-2009 as a Governor of the Federal Reserve System, there’s a flip side to the coin that is low interest rates.

“Why are interest rates so low? Well, interest rates are low because there’s a lot of economic uncertainty,” he said.

Italy’s Plan for Banks Could Roil Europe

July 6, 2016 | The New York Times

Yet even if Italy is not given a green light to directly bail out its banks, Luigi Zingales, a professor at the University of Chicago, has suggested that the Cassa Depositi e Prestiti, a large investment entity controlled by the Italian government, could provide the bailout funds.

An Index of Uncertainty Surges After ‘Brexit’

July 1, 2016 | The New York Times

The three economics professors who compile the data — Scott Baker, Nick Bloom and Steven Davis — have shown that a rise in their index foreshadows lower investment, output and employment.

FT Masterclass: putting with Richard Thaler

July 1, 2016 | Financial Times

The renowned US economist and co-author of ‘Nudge’ on how behavioural theories apply even on the putting green

The undercurrents of the Brexit vote

June 24, 2016 | MSNBC

Economics professor Austan Goolsbee joins Morning Joe to discuss how the Brexit will impact the U.S. economy.

What Is A Nudge?

June 24, 2016 | NPR

How can a simple adjustment - a nudge - change our behavior for the better? Professor Richard Thaler says his "nudge theory" can make it easier for people to save money, eat healthily and more.

The Curse of the Loyal Sports Fan

July/August 2016 | The Atlantic

Conventional wisdom has it that the Cubs are either cursed—by a billy goat, a black cat, a fan whose name we shall not speak—or, less cosmically, just plain unlucky. But are they really? A University of Chicago economist, Tobias Moskowitz, asked the same question a few years back and arrived at a startling conclusion: The main source of the Cubs’ curse was the fans themselves.

Richard Thaler on behavioral economics, investing

June 20, 2016 | CNBC

Richard Thaler, an expert on behavioral economics as well as the psychology behind decision-making, explains how the average investor can use the science to develop winning strategies.

A Free Lunch for America

May 20, 2016 | US News & World Report

America needs a new air traffic control system; better bridges and roads; pipes without lead; a more efficient power grid; and so on. When the Booth School of Business at the University of Chicago polled a diverse panel of prominent economists in 2014, 98 percent agreed that "the federal government has an opportunity to increase average incomes by spending more on roads, railways, bridges and airports."

Four Ways Your Leadership May Be Encouraging Unethical Behavior

Jun 15, 2016 | Forbes

Nick Eply, Professor of Behavioral Science at the University of Chicago, in Four Myths about Morality and Business, says, “It’s a myth to think, ‘Everyone is different and everything is relative.’ You actually have to teach people the relative value of principles relative to choices.”

It’s Probably Cheaper on the Web, Adobe’s Online Price Index Shows

June 15, 2016 | New York Times

Austan Goolsbee, a former chairman of President Obama’s Council of Economic Advisers, who has been helping Adobe develop its index, said the Adobe figures suggest that the government’s index could be underestimating deflation, or the overall fall in prices, in the economy. “Large parts of the economy, a fast-growing part, is now e-commerce-oriented,” Mr. Goolsbee said. “And Amazon’s prices are much cheaper, and if everybody’s doing their shopping on Amazon, then that should properly be taken into account in the inflation rate in a way it isn’t now.”

U of Chicago to create $50 million entrepreneurship center

May 24, 2016 | Associated Press

The school says the newly organized Polsky Center for Entrepreneurship and Innovation will combine activities of UChicago Tech, which helps launch starts-ups, and the Chicago Innovation Exchange. The exchange opened in October 2014 and has 2,200 members. It is incubating 20 companies and providing capital to start-ups via the $20 million UChicago Innovation Fund. Article also appeared in The Washington Times, Seattle Post Intelligencer, The Southern Illinoisan, Daily Progress, The News-Gazette, Press of Atlantic City, Tulsa World, The Roanoke Times.

Why You Should Never Hire Your Friend

May 10, 2016 | Fortune

In an op-ed written by Ed Kaplan, founder of Zebra Technologies and title sponsor of the Edward L. Kaplan ’71 New Venture Challenge startup business launch competition at the University of Chicago Booth School of Business, he writes "It takes courage to become an entrepreneur. The most common mistake I see up-and-coming entrepreneurs make is underestimating how difficult it is to start your own business."

A Possible Cure for Japan's Low Inflation

May 2 | Bloomberg

The Bank of Japan wants to get those inflation expectations up to 2 percent -- but in doing so, it doesn’t want them ever to rise above 2 percent. That limitation could be self-defeating, according to a recent paper by professors Kinda Hachem and Jing Cynthia Wu of the Chicago Booth School of Business.

How To Find Data Stories That Speak To Decision-Makers

April 30 | Forbes

This week, attendees of the University of Chicago Booth School of Business Alumni Innovation Roundtable listened as anthropologist Jonathan DeVito explained the importance of emotion and qualitative research methods that deliver emotional impact, to decision makers.

Having a Bad Week? Tricks for Turning It Around

April 26 | The Wall Street Journal

There is always a probability that several bad things will happen at once, says Jane. L. Risen, an associate professor of behavioral science at the University of Chicago Booth School of Business and a researcher on judgment and magical thinking.

The Clean Power Plan 'Stay' Could Slow Clean Energy Progress

April 25 | Forbes

In an Op-Ed, Thom Covert, assistant professor, writes, "Earlier this year, the Supreme Court halted implementation of the central component of the Obama Administration’s climate strategy: The Clean Power Plan. Their ‘stay’ order on the rule—which requires states to cut greenhouse gas emissions from existing electric power plans by a third by 2030—prevents EPA from enforcing a September deadline for states to either submit their emissions reduction plans or request an extension."

Are You Rude and Scream Your Head Off? You Might Be the Perfect CEO

April 22 | Inc

Research conducted by two professors at the University of Chicago and the Copenhagen Business School found that among 4 characteristics of successful CEOs or potential CEOs, having great interpersonal skills is not as highly necessary as widely believed.

Can the Economy Take More Rate Hikes? Austan Goolsbee Says Maybe Not

April 21 | The Street

"I don't think that it was the right thing to start raising rates when they did," (Austan) Goolsbee said, referring to the Fed's historic rate hike back in December, which marked the end of interest rates at crisis-era levels. "If you look at the growth rate of the economy, it's modest -- there are a lot of international risks and there is no sign of inflation."

Taxes Don't Have to Be So Hard

April 15 | U.S. News & World Report

Austan Goolsbee:  "The IRS already receives information about [taxpayers'] sources of income directly from their employers and banks. The IRS then asks these same people to spend time gathering documents and filling out tax forms, or to spend money paying tax preparers to do it. In essence, these taxpayers are just copying into a tax return information that the IRS already receives independently."

Beyond the Cable Box: Here's How Obama Wants to Stoke Competition

April 15, 2016 | NBC News

Professor Dennis Carlton tells NBC News: Big Question about Big Data is who owns personal information? You or the corporation?  

It’s Probably Cheaper on the Web, Adobe’s Online Price Index Shows

April 14 | The New York Times

“Large parts of the economy, a fast-growing part, is now e-commerce-oriented,” Mr. (Austan) Goolsbee said. “And Amazon’s prices are much cheaper, and if everybody’s doing their shopping on Amazon, then that should properly be taken into account in the inflation rate in a way it isn’t now.”

Twitter and the Stock News Echo Chamber That Whips Up Volatility

April 13, 2016 | Bloomberg

“The stale news effect is a very good example of markets not processing information with perfect efficiency,” Juhani Linnainmaa, associate professor of finance at the University of Chicago’s Booth School of Business, said in a phone interview. “It would be very difficult to find any rational explanation for what’s going on here.”

Encore Episode: Misbehaving

April 12, 2016 | NPR

From eating marshmallows to spending lottery winnings, the Hidden Brain’s Shankar Vedantam talks with behavioral economist Richard Thaler about Misbehaving.

Predicting Donald Trump presidential bid

April 8, 2016 | CNBC

Professor Luigi Zingales predicted Donald Trump's presidential bid four years ago and says that populism was inevitable.

Does Your Stockbroker Draw Complaints? Here’s How to Find Out

April 8, 2016 | The New York Times

Professors Gregor Matvos and Amit Seru discuss their latest research on financial misconduct, finding that more than 7 percent of brokers have at least one disclosure in their industry records for a settled consumer complaint or worse.

Same speech, different economy?

March 29, 2016 | CNBC

Professor Austan Goolsbee and CNBC's Steve Liesman react to Janet Yellen's speech at the Economics Club of New York.

Why Does U.S. Productivity Look So Abysmal? Not Mismeasurement, Paper Says

February 12, 2016 | The Wall Street Journal

Professor Chad Syverson doesn’t think the hypothesis adds up.

Sorry, but Your Favorite Company Can’t Be Your Friend

December 11, 2015 | The New York Times

“They are treating corporations like persons, just like the Supreme Court says we ought to,” says Nicholas Epley, a professor of behavioral science at the University of Chicago Booth School of Business. “When they are responsive to you, you think they care for you. You infer intentions and thoughts that are consistent with the behavior you observe.”