Experience Stern | News & Events

On July 31-August 2, the NYU Stern School of Business co-hosted the Second Annual Conference on Creative Industries with Columbia Business School and the Yale School of Management. 

Excerpt from Travel + Leisure -- "'Consumers do not just focus on individual experiences. Instead, they categorize and manage experiences... For positive experiences, consumers are reluctant to eliminate categories, while the opposite is true for negative experiences because eliminating categories makes it feel like more of the experience has passed,' write authors Anuj K. Shah (University of Chicago Booth School of Business) and Adam L. Alter (New York University)."

Excerpt from CNBC -- "Amazon, right now, I would argue, is the most dominant company in the world and maybe the most dominant company, at this point, that we've ever seen. If you look at the Venn overlap of who they're competing against -- Apple, Facebook, Microsoft -- they're winning wherever they're competing against any of the big tech titans. So this company feels like it has more momentum than any other company I register."

Excerpt from CNBC -- "Maria Patterson, an assistant clinical professor at NYU's Stern School of Business, considers a political approach an important part of growing a business. 'It's absolutely critical for businesses to make a considered decision of what are our values,' she said. 'Once you determine what your values are in business, then you make decisions of what kind of engagements you'll make in the political arena.'"

Excerpt from The Island -- "Stephanie Tully, assistant professor of marketing at University of South Carolina Marshall, and Tom Meyvis, marketing professor at the New York University Stern School of Business, conducted two experiments. They found that participants who thought about a future experience predicted they would think about and talk about their experience more often than other participants reported actually having done for a past experience."

Excerpt from Press Mentor -- "'I think Republicans need to take income inequality more seriously,' said social psychologist Jonathan Haidt, who teaches Ethical Leadership at New York University’s Stern School of Business. It’s 'not because I favor equality of outcomes. I do not. I think the Right is correct to stress merit and earned rewards, not handouts and forced equality. But I think what Republicans are blind to is that power corrupts.'"

Excerpt from Inc. -- "'If he was stepping down purely because he wanted to go do something else, he would have waited until there was a successor in place,' suggests J.P. Eggers, an associate professor of management at NYU's Stern School of Business. 'The timing seems a little odd,' he added."

Excerpt from Bloomberg -- "More households have [Amazon] Prime than go to church, voted in the election or have a landline phone. And if trends continue, in about three years more people are going to have a pipe of stuff into their home vis-a-vis Amazon Prime than cable television. So Amazon now has a commercial relationship with the wealthiest households in the world and it's growing faster than any other relationship."

Excerpt from The Economist -- "Declining competition does more than harm some consumers; it makes firms lazy. The authors calculate that if leading firms had maintained their share of overall investment since 2000, the American economy would have 4% more capital today, an amount roughly equivalent to two years’ investment by non-financial companies."
 

In a new study, Professor Priya Raghubir, chair of the Marketing Department at NYU Stern School of Business, and former NYU Visiting Postdoctoral Scholar Isabelle Engeler find a gap in how women and men interpret dating situations and intentions, which could lead to problematic misunderstandings between dating partners. 

Excerpt from Greek Reporter -- "The Greek loan is so small it does not matter that is expensive, but if Greece were to go out in the markets by the end of 2018 paying the same interest of 4.6% it would be completely irresponsible, Economides warns. 'It would not be a way out of the crisis. The Greek debt is completely unsustainable and now we are adding to the debt.'"

Excerpt from PsychCentral -- "New York University researchers discovered people with higher cognitive abilities are more likely to learn and apply social stereotypes. However, in a series of experiments, investigators discovered that those with elevated intelligence can also easily unlearn stereotypes when presented with new information."

Excerpt from the Financial Times -- "An intriguing new blog post by Stephen Cecchetti and Kermit Schoenholtz draws attention to a third trilemma, one concerning international financial policy. The trilemma here is between cross-border financial flows (again), national as opposed to global financial regulation and financial stability."

Excerpt from Bloomberg -- "Seven of the top fastest growing apparel and beauty brands on Amazon are brands you likely haven't heard of before. We no longer need to defer to the large brand, our favorite brand is the brand that Amazon or Trip Advisor or Google tells us is our favorite brand. We used to want Dannon yogurt then we went to Chobani and now it is some Kefir yogurt that we saw Beyonce eating on Instagram. There is growth in the long tail."

People with higher cognitive abilities are more likely to learn and apply social stereotypes, finds a new study. The results, stemming from a series of experiments, show that those with higher cognitive abilities also more easily unlearn stereotypes when presented with new information. The study ... also included Adam Alter, an associate professor in NYU’s Stern School of Business.

Excerpt from Benefit News -- "There’s other research by Lisa Leslie and Colleen Manchester that didn’t look at gender or parental status, but looked at what does your manager assume the reason for your flexible work arrangement is. If the manager believes that you’re working at home for some productivity reason, then that’s viewed positively. If the manager assumes you’re working at home for a family reason, then that’s judged negatively."

Excerpt from Yahoo Finance -- "Damodaran, who teaches corporate finance and valuation, says trying to force growth in older companies like IBM could actually have a negative impact on them, because they might end up simply throwing good money away. 'When you’re 75, you’d love to be 35 again, but you’re not going to,' Damodaran said. 'So that’s the way I think of aging companies. Trying to turn them around might be the most dangerous thing you can do.'"

Excerpt from The Washington Post -- "In a paper published this week by the National Bureau of Economic Research, they argue that increasing concentration of economic power in the hands of relatively few behemoth corporations -- in some cases to the point where companies enjoy a near monopoly -- could explain the pattern: The big firms, unconcerned about their competitors, simply have no need to invest in staying ahead. 'It explains a big chunk of why investment is low in the U.S. today,' Philippon said."

Excerpt from The Telegraph -- "All those politicians concerned or interested in the subject of executive pay should junk the suggestions of their peers and spend quite some time digesting a comprehensive new academic paper by Alex Edmans, Xavier Gabaix and Dirk Jenter entitled 'Executive Compensation: A Survey of Theory and Evidence'."
 

Excerpt from Bloomberg -- "Adapting to the bill’s requirements would not 'be a significant issue at all' for the companies, said Arun Sundararajan, a professor at New York University’s Stern School of Business and author of 'The Sharing Economy.'"

Excerpt from OZY -- "'You are likely to see a shakeout in the active management space,' says Vasant Dhar, a professor at New York University’s Stern School of Business, who adds there will 'probably' always be a place for human-managed funds. While machines might take all the remaining jobs in short- and medium-term money management, long-term quality judgments of companies remain a distinctly human quality, he argues."

Excerpt from The New York Times -- "Across an entire city, those costs outweigh the benefits of foreign investment, according to two finance professors, Jack Favilukis of the University of British Columbia and Stijn Van Nieuwerburgh of New York University. They modeled what happens when a market like New York City is shocked by an inflow of absentee out-of-town buyers. ... 'And then there are costs that are harder to quantify,' Professor Van Nieuwerburgh said. 'The texture of the city, the socioeconomic makeup of the city, is changing.'"

Excerpt from CCTV -- "The single biggest challenge facing the automakers is perceptions of safety among consumers. There's a very significant behavior change that many auto owners in America will have to go through before they embrace fully autonomous vehicles and understanding what those barriers are and removing those barriers is perhaps the single biggest challenge to automakers. Regulation is another big barrier. I think the number of entities that have jurisdiction over autonomous vehicles is potentially huge and of course the technology, and making sure the technology is ready."

Excerpt from CNN -- "Gary Friedland, a scholar in residence at New York University's Stern School of Business who has studied the program, said developers have found ways to manipulate census tract data to place their projects within 'targeted employment areas,' which legally reduces the amount investors must pay -- down from $1 million to $500,000 -- to qualify for EB-5 benefits."

Excerpt from the Global Trade Review -- "'Multinational firms are the architects of global supply chains. As such they must deal with the shifting economic, technological, political and social forces and pressures operating on their supply chains, employees, customers and regulators. It is not much of an exaggeration to say that their ability to navigate and respond will be one (perhaps the) decisive factor for the future of a reasonably integrated and sustainable global economy,' says Nobel Prize winning economist Michael Spence of New York University, in a note accompanying the report."