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  • – Faculty News

    Prof. Arun Sundararajan on Uber's surge pricing policy

    November 17, 2014
    economic times logo feature
    Excerpt from Economic Times -- "'Surge pricing is a way of balancing supply and demand,' says Arun Sundararajan, a professor at the Stern School of Business in New York who specialises in digital economics. 'The nature of taxi is such that there will always be periodic supply and demand imbalances over the day. For a market-based platform like Uber, price changes are the way in which a supply of drivers is brought into the market when needed.'"
  • new york magazine
    Excerpt from New York Magazine -- "The years before beginning a brand-new decade — ages 29, 39, and so on — tend to be spent in self-reflection, according to a new paper published online today in Proceedings of the National Academy of Sciences. These are the prime What am I doing with my life? years, in other words, which prompts many people to behave in ways that suggest 'an ongoing or failed search for meaning,' the authors write. Their data suggests that these are the ages when people are more likely to either train harder for a marathon or run one for the first time; they’re also the ages when more people tend to cheat on their marriages or take their own lives."
  • project syndicate logo feature
    Excerpt from Project Syndicate -- "China does not have to give up the safety net provided by large asset holdings to allow markets to play a decisive microeconomic role. It can abandon the commanding heights model and develop its version of 'state capitalism' to support the best of both worlds. All that is needed is a persistently strong government commitment to the public interest – and, of course, a skillfully executed reform strategy."
  • chronicle of higher education logo feature
    Excerpt from The Chronicle of Higher Education -- "Universities need to move from the defensive, fending off divestment campaigns, to a more affirmative approach, examining how they can maximize their investments in companies that adopt longer-term business models that embrace sustainable environmental and human-rights business practices. Simply by making clear that these issues matter to them, universities can stimulate a broader debate within the investment community and in society generally."
  • cnbc logo feature
    Excerpt from CNBC -- "Our 2014 DHL Global Connectedness Index shows that globalization is recovering from the hard hit it took during the financial crisis. However, international trade, capital, information, and people flows are not simply reverting to how they looked before 2008. The world is more international, but not necessarily more global, and trends vary across types of flows."
  • cnbc logo feature
    Excerpt from CNBC -- "This new type of factor, which is very different from indices such as the Michigan consumer sentiment index, may well join the ranks of key determinants of investment performance, alongside traditional factors such as value and momentum that have been used for decades on Wall Street."
  • fortune logo feature
    Excerpt from Fortune -- "'There is no other book on practical data science for business applications that simultaneously has as much authority and as much clarity,' says Sinan Aral, a management -professor at MIT’s Sloan. 'Students cannot stop raving about this book.'"
  • quartz logo
    Excerpt from Quartz -- "But, since 2005, emerging market exports of printed matter to advanced economies have grown significantly, from less than 10% to almost 20% of global volume. Why is this? Business professor Pankaj Ghemawat, who co-authored the study of global connectedness that returned this surprising result, says it’s tied up in human migration—and entertainment. Ghemawat says he himself is a part of this statistic because, like many other Indians living and working abroad, he subscribes to Bollywood film magazines. The story is not so different for other emerging markets with plenty of emigrants and a thriving culture that expatriates want to stay connected with."
  • – Faculty News

    Prof. Norman White on statistical models in finance

    November 13, 2014
    garp
    Excerpt from GARP -- "Similarly, Norman White, clinical professor of information, operations and management sciences at New York University's Stern School of Business and faculty director of the Stern Center for Research Computing, says there is always concern when there is not 'some human in the middle of the decision tree.' He adds, 'I am very suspicious of the unintended consequences of over-reliance on automated models" in finance.'"
  • quartz logo
    Excerpt from Quartz -- "As the war dragged on, Britain went from lender to borrower. And after the dollar-denominated Anglo-French loan of October 1915—organized by JP Morgan to fund the allied European powers—'the US dollar no longer took a backseat to the British pound,' wrote William Silber, an NYU professor and author of a book on the origins of the dollar as a reserve currency."
  • global finance magazine logo feature
    Excerpt from Global Finance Magazine -- "In the years to come, NYU’s White predicts, this legislation will open up new opportunities for 'independent advisory voices' to sell their opinions to banking regulators. But they won’t necessarily be rating agencies, he says. They’re more likely to be financial services firms and academic institutions."
  • economist logo feature
    Excerpt from The Economist -- "Globalisation’s advance has never been inevitable or smooth; nor, despite some backward steps since the crash, has it ended. That, at least, is the conclusion of the latest DHL Global Connectedness Index, published earlier this month. Two economists, Pankaj Ghemawat of New York University’s Stern School and Steven Altman of IESE Business School compiled it using data from 140 countries, which account for 99% of the world’s GDP and 95% of its population. It shows that, after a big post-crisis drop, the trend of growing global interconnection resumed last year. Globalisation is back."
  • economic times logo feature
    Excerpt from Economic Times -- "'The density footprint in Delhi or Bangalore is not even comparable to its fleet in say New York city. There is plenty of room for Uber to expand,' said Arun Sundararajan, a professor at the Stern School of Business in New York whose research is focused on digital economics."
  • The Wall Street Journal
    Excerpt from The Wall Street Journal -- "'Remember that NIH has to pay attention to what the appropriators in Congress want, because they’re dependent on getting funding,' says Hegde. 'So our conclusion about soft earmarks is a more nuanced finding, but does indicate that soft earmarks are effective. And for the most part, I don’t think people are aware of the mechanisms through which allocations are made.'"
  • OZY logo
    Excerpt from OZY -- "'The trick is going to be to make sure you have the right people representing your products,' says Arun Sundararajan, professor of information, operations and management sciences at NYU Stern. 'With social media, companies have already faced the challenge of losing control over the message.'"
  • financial times logo feature
    Excerpt from Financial Times -- "'While there are benefits to OTC trading, typically trading happens through a handful of large institutions who dominate those markets,' says Rosa Abrantes-Metz, an adjunct professor at New York University. 'When you have that happen with a lack of information coming out to the ultimate buyers and sellers, there is the potential of abuse.'"
  • – Faculty News

    Dean Peter Henry's book, "Turnaround," is highlighted

    November 12, 2014
    global times logo
    Excerpt from Global Times -- "China's success lies in its devotion to a win-win philosophy. Peter Henry wrote in his new book 'Turnaround: Third World Lessons for First World Growth', that America should learn from China's sustained commitment to a pragmatic growth strategy."
  • reuters logo feature
    Excerpt from Reuters -- "Don’t overestimate the near-term impact of oil prices in free fall. Yet, even if cheaper oil doesn’t upend these regimes — or align them with Washington — it will accelerate their deepening dependence on China. That is a recipe for greater instability and a more volatile global energy landscape."
  • washington post logo feature
    Excerpt from The Washington Post -- "Five years ago, G-20 leaders pledged to cut fossil-fuel subsidies. They now must redeem that pledge. Setting a timetable for phasing out all subsidies for fossil-fuel exploration would be smart economics. It would also establish the G-20 as a credible force in international efforts to secure an ambitious global deal on climate change."
  • voxeu logo feature
    Excerpt from Vox -- "Given the scale of the crisis, understanding the dynamics of the Eurozone is a major challenge for macroeconomics today. We argue that we need a quantitative framework to identify these various mechanisms, their relations and, ultimately, to run counterfactual experiments. This is what we do in a recent paper (Martin and Philippon 2014)."
  • Mashable Logo
    Excerpt from Mashable -- "'It really becomes a question of what are you pricing it against,' Damodaran told Mashable in an interview. Snapchat may not be worth $10 billion to investors by itself, but if the market already values Twitter at $30 billion-$40 billion, then the Snapchat valuation may make more sense. 'Twitter, after all, is not that far ahead of Snapchat,' he argues."
  • cnbc logo feature
    Excerpt from CNBC -- "'Even if growth, inflation and employment data are at the right level to start hiking, the Fed would like to wait a little bit longer just to make sure that if they start hiking with the liftoff, they're not going to abort and go back to zero because otherwise they lose their credibility,' he said."
  • – Faculty News

    Prof. Anindya Ghose on equity crowdfunding

    November 10, 2014
    OZY logo
    Excerpt from OZY -- "Investors have to be accredited in the U.S., which generally limits the pool of possible investors to the top 1 percent. Now? About the top 5-10 percent of the population can buy their way in, estimates NYU’s Stern Business School professor Anindya Ghose."
     
  • wall street journal logo feature
    Excerpt from The Wall Street Journal -- "Pankaj Ghemawat, global professor of management and strategy at the New York University Stern School of Business and a co-author of the survey, says that improving connectivity between sub-Saharan African nations—enabling more efficient movement of people, goods and information across borders—would make a vast difference to the continent’s economic prospects."
  • financial news logo feature
    Excerpt from Financial News -- "It would be momentous and unprecedented for the Fed openly to force a bank to break up. But the power to do so under Dodd-Frank is certainly there, though the process is complex and can be appealed. Dudley’s cultural workshop may actually be less about culture and more a blunt warning to those banks the Fed considers to be moving too slowly in transforming themselves into the well-managed entities it wants. Those banks know who they are. As Dudley says, they need to 'get on with it'."

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