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  • economist logo feature
    Excerpt from The Economist -- "Investors, whose priority is usually citizenship rather than a financial reward, have shown themselves willing to accept returns of less than 1%. After intermediaries have taken their cut, the cost of capital to developers is typically 4-6%, about two thirds lower than conventional sources of finance for the industry, according to Gary Friedland, a real-estate expert at New York University. Kushner Companies will save $30m-40m by financing 15% of its new property with EB-5 visas, he estimates."
  • new york times logo feature
    Excerpt from The New York Times -- "Professor Baumol, who taught for decades at both Princeton University and New York University, identified what has come to be known as Baumol’s cost disease. This so-called affliction is actually a critically important economic insight that explains why the cost of services, like haircuts and college educations, rises faster than the cost of goods, like T-shirts."
     
  • luxury daily logo feature
    Excerpt from Luxury Daily -- "'It allows McLaren to gain brand equity through a new channel of communication, namely gaming, an area still out of limits for most luxury brands,' [Serdari] said. 'McLaren is pioneering a bridge between the real and virtual worlds in a way that no other luxury brand has attempted before.'"
  • daily beast logo feature
    Excerpt from The Daily Beast -- "[Haidt's] latest project, The Viewpoint Diversity Experience, 'takes students on a six-step journey, at the end of which they will be better able to live alongside—and learn from—fellow students who do not share their politics.'"
  • barrons logo feature
    Excerpt from Barron's -- "In a recent conversation with Barron’s, Lev pointed to one such clue for Amazon: Though it holds fewer patents than Alphabet, its patents are cited more often in filings by others, suggesting they’re more valuable. ... Amazon has changed the relationship between companies and investors by replacing profit with growth and vision, according to a colleague of Lev’s, Scott Galloway, an NYU marketing professor and founder of digital-research platform L2. 'Loss is the new black,' he told attendees at a conference last month, citing the willingness of upstarts like Uber to lose steep and growing sums. 'You can argue this might not end well…but the reality is retail investors love this model.'"
  • new york times logo feature
    Excerpt from The New York Times -- "For the moment, the stock market remains entranced with what Apple is doing financially, and for understandable reasons. Apple may no longer be a great growth company but it is still extraordinary, said Aswath Damodaran, a New York University finance professor, who has analyzed Apple’s earnings closely since 2010. Come what may, he said, Apple churns out staggering quantities of money with metronomic regularity. 'Apple is the greatest corporate cash machine in history,' he said in an interview. 'We should appreciate that amazing achievement. The problem is, it’s not growing much. It’s a slow-growth cash-generating machine.'"
  • new york times logo feature
    Excerpt from The New York Times -- "'It is important to remember when we talk about investors in the bond market, we’re not talking about Mom and Pop sitting around the dining room table figuring out what to do with their 401(k),' Professor White said in an interview. 'The overwhelming bulk of bond holdings are by institutions that you’d expect would have enough expertise to figure out who’s a good advisory firm.'"
  • wired logo feature
    Excerpt from WIRED -- "'Airbnb is clearly the market leader in home sharing, and it has its eye on the public market in the not-so-distant future,' says Arun Sundararajan, a business professor at New York University who studies the so-called sharing economy. 'It’s good for them not to have outstanding lawsuits—it reduces the perceived regulatory risk.'"
  • bloomberg logo feat
    Excerpt from Bloomberg -- "More lenders may be interested in these kind of deals as data continues to show 'that companies with good sustainability performance tend to have lower risk and thus lower cost of capital,' Tensie Whelan, director of the Center for Sustainable Business at NYU Stern School of Business, said May 1. 'It is a win-win — it rewards better sustainability performance by companies, reduces risk for lenders, and provides value to society.'"
  • economist logo feature
    Excerpt from The Economist -- "A book published in March by academics at the Stern School and NYU’s law school, 'Regulating Wall Street: CHOICE Act vs Dodd-Frank', compares the two acts, section by section. It argues that Dodd-Frank has made the American financial system safer, both since the crisis and relative to those of other large countries; but its many pages and associated rules have not got to the heart of systemic risk, and are more burdensome than necessary."
  • reuters logo feature
    Excerpt from Reuters -- "'This is central to Uber,' said Arun Sundararajan, a professor at New York University and author of the book 'The Sharing Economy,' noting that Uber has more at stake than some of its rivals. 'If Google can't launch their self-driving car for 10 years instead of five, this will be a little blip in Google's multibillion-dollar revenue. Uber is the one that really depends on it.'"
  • reuters logo feature
    Excerpt from Reuters -- "They found that the investment gap is driven by firms in sectors with less competition which elect to prioritize financial engineering and share buybacks over investment. Interestingly, these firms tend to be owned by institutional shareholders which shadow the equity indices, and who perhaps prefer short-term management, in line with their own career risk, over long-term investment."
  • New York Observer logo 192 x 144
    Excerpt from The New York Observer -- "'Amazon has essentially changed the relationship between companies and shareholders,' Galloway said. 'And that is, it has replaced profits with vision and growth.'"
  • bloomberg logo feat
    Excerpt from Bloomberg -- "The big thing I think is the sort of uncertain rewards that you get from any interaction with online media. So if you post something, you're wondering whether people will engage, whether they'll reply, whether you'll have likes and comments and shares. Humans find that absolutely addictive. We're fascinated by what other people think of us more than pretty much anything else."
  • cnnmoney logo feature
    Excerpt from CNNMoney -- "Roubini argued that the 'biggest uncertainty in the world and biggest tail risk comes from the economic, foreign and security policies of the Trump administration.' The New York University professor explained that because the US is the world's biggest economy, the consequences of a 'severe policy mistake' can be enormous."
  • cnbc logo feature
    Excerpt from CNBC -- "'Accumulating cash is actually the end product of a good investment. Be glad that not every company is a cash-burning machine. You need cash-accumulating companies like Apple to help,' he said, noting that theoretically, shareholders could use the extra capital they earned from Apple's stock to invest in Tesla or Uber so Apple doesn't have to do that for them."
  • hbs working knowledge logo feature
    Excerpt from HBS Working Knowledge -- "Joan Farre-Mensa, Deepak Hegde, and Alexander Ljungqvist examine the implications in the working paper What is a Patent Worth? Evidence from the U.S. Patent ‘Lottery.’ 'Using unique data on all first-time applications filed at the U.S. Patent Office since 2001, we find that start-ups that win the patent ‘lottery’ by drawing lenient examiners have, on average, 55% higher employment growth and 80% higher sales growth five years later,' they write."
  • PCMA Convene Magazine logo 192 x 144
    Excerpt from PCMA Convene Magazine -- "'If you’re motivated to grow, you also have to be motivated to lead innovation, because it’s not just another transient management fad,' Williams told Convene in a recent interview. 'It’s actually what draws economic growth. If you don’t innovate, you can’t grow.'"
  • new york times logo feature
    Excerpt from The New York Times -- "'This is all part of a broader shift towards Airbnb taking on more regulatory responsibility,' Mr. Sundararajan said. 'It’s also first steps, over time, toward governments trusting Airbnb to assume more responsibility for regulating their hosts.'"
  • – Faculty News

    Professor Adam Alter's talk at TED2017 is featured

    April 28, 2017
    washington post logo feature
    Excerpt from The Washington Post -- "Alter found that those who did set finite rules for their technology use — like never using it at the dinner table or putting it on airplane mode when you’re out on the weekends (so you can access the camera but not the Internet) — were able to enjoy life more. 'Life becomes more colorful, richer, you have better conversations, you connect with the person who is there with you,' he said."
  • knowledge at wharton logo feature
    Excerpt from Knowledge@Wharton -- "It sounds so simple. It sounds like all we have to do is just say, 'No, I’m not going to use this. I’m going to put it away for a certain number of hours.' That’s obviously the first thing to try to do. The other thing you can do on smartphones is sort of de-fang them. You can make them a little less potent. Take off all the sounds that tell you that there’s a new email. Remove push notifications. Make sure that the phone isn’t telling you when to pick it up, that you’re deciding it’s time for me to pick it up."
  • forbes logo feature
    Excerpt from Forbes -- "'Polarization is preventing Trump from repealing Obamacare and has forced him to postpone tax reform and infrastructure spending,' according to Richard Sylla, a professor at the NYU Stern School of Business and co-author with Sidney Homer of A History of Interest Rates."
  • Factor Daily logo 192 x 144
    Excerpt from Factor Daily -- "...this theory, proposed by psychologists Nira Lieberman and Yaacov Trope, suggests that this construal level is a function of another concept called psychological distance. ...research by Adam Alter and Daniel Oppenheimer has shown that using hard-to-read fonts in a message or advertising can manipulate the mind into a higher construal level, while easy-to-read fonts can lead to lower construal levels."
  • institutional investor logo feature
    Excerpt from Institutional Investor -- "Authors David Dunning and Justin Kruger revealed some interesting tendencies regarding peoples' perceptions of their own competence, tendencies that have distinct relevance for investors."
  • washington post logo feature
    Excerpt from The Washington Post -- "This is how the Beverly Hills Waldorf Astoria ended up as an EB-5 funded project, with $150 million in foreign investment by 300 investors at $500,000 each, according to a report by Friedland for the NYU Stern Center for Real Estate Finance Research. ... 'The original intent was to establish an incentive for immigrants to invest in areas that can’t otherwise attract conventional capital,' Friedland said. 'Instead, virtually all projects qualify. It’s merely serving to enhance the returns for those developers.'"

     

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