| Faculty Insights Archive |
Two Yale professors discuss their interdisciplinary course, which gave students access to experts from across the university.
February 8, 2012
Yale faculty Tony Sheldon, Dean Karlan, and Rodrigo Canales discuss how microfinance organizations and other social enterprises can effectively address poverty.
January 27, 2012
The Yale marketing professor discusses her pathbreaking study showing that online conversations can lead to sales in the real world.
January 20, 2012
Amy Wrzesniewski, associate professor of organizational behavior, introduces students to the forces and dynamics that shape careers over the long term.
January 11, 2012
Two Yale marketing professors discuss an award-winning paper that investigates whether new or existing customers should be rewarded with discounts.
January 10, 2012
Edward Kaplan has been appointed to a committee that will evaluate the effectiveness of the nation's system to detect and prevent a nuclear attack.
Why Does Market Volatility Matter?
December 6, 2011
Prof. Roger Ibbotson analyzes recent market swings and argues that volatility, while frightening for individuals, can play an important role in the economy.
James Choi and co-authors have received the sixteenth annual TIAA-CREF Paul A. Samuelson Award for their paper, "Why Does the Law of One Price Fail?" The paper finds that the average investor does not understand the importance of mutual fund fees in investment decisions.
December 2, 2011
"It's time for NFL blackouts to go," says Professor Subrata Sen. In his paper, "Should NFL Blackouts Be Banned?" he finds that the loss of viewers' rights exceeds the revenue teams gain from blacking out games on local television.
November 29, 2011
In the New York Times, Robert J. Shiller writes that the failure to rescue the unemployed stems from partisan divisions in Congress, lack of consensus among economists on the effects of fiscal stimulus, and a lack of appreciation of the social consequences of long-term joblessness.
November 15, 2011
Professor Edward H. Kaplan has received the Koopman Prize for the outstanding publication in military operations research.
October 25, 2011
"Steve Jobs-like folk heroes are the key to American strength—but our management systems often drown the spirit of such creative geniuses because of their challenging complex characters," writes Jeffrey Sonnenfeld in the Huffington Post.
October 17, 2011
Public improvement projects to create jobs for the unemployed are the modern national equivalent of winter work on the farm, writes Robert Shiller in the New York Times.
October 12, 2011
The award will be presented to Oster at the annual meeting of the American Economics Association's Committee on the Status of Women in the Economics Profession on January 12.
September 26, 2011
Stories of out-of-control debt have scared consumers, writes Robert Shiller, and a better economic outlook may hinge on finding a more inspiring narrative.
September 22, 2011
Jeffrey Sonnenfeld explains what drives the "serial acquirer" CEO in the Washington Post.
September 20, 2011
Prompting employees to write down a plan to get a flu shot makes them more likely to follow through on it, finds research by James Choi.
September 12, 2011
According to Robert Shiller, President Obama's job stimulus plan "would help some people, but...it's not really up to the magnitude of the problem."
September 7, 2011
In the NYT, Shiller writes that the recent stock market volatility is the result of investors trying to assess the fear of other investors.
September 1, 2011
The recent market volatility surrounding U.S. debt worries was exaggerated by high-frequency trading, according to Frank Zhang.
August 5, 2011
Economist Robert Shiller and political scientist Jacob Hacker discuss how inequality affects government, markets, and the risks faced by ordinary people.
July 25, 2011
In the NYT, Robert Shiller recommends balancing spending and taxing, and focusing on programs that will create jobs.
July 21, 2011
A course taught by Jeffrey Sonnenfeld brings CEOs and other industry leaders into the classroom for candid dialogue about what it takes to succeed.
July 19, 2011
Ed Kaplan discusses the applications of the most influential formula in queuing theory.
July 11, 2011
Gary Gorton on Measures of Systemic RiskIn a recent working paper, Gary B. Gorton, Frederick Frank Class of 1954 Professor of Management and Finance, and two collaborators propose a system for gathering and disseminating measures of risk in the economy.
June 23, 2011
In a class co-taught by Jeffrey E. Garten and Stephen Roach, students met with leaders from finance and government as they studied the lessons of the financial crisis.
June 22, 2011
Yale SOM faculty members with experience in the top levels of both business and government described why the Obama administration and the business community have had a contentious relationship and also suggest how it can be improved.
June 7, 2011
Fiona Scott Morton has been named deputy assistant attorney general for economic analysis and will take a leave of absence from SOM to lead economic analysis in the antitrust division of the DOJ.
May 31, 2011
Ian Ayres talks with Microsoft's BizIntelligence.TV about using data for decision-making and crafting incentives to achieve goals.
May 17, 2011
A course taught by Professor Douglas Rae has been added to Open Yale Courses, the popular website run by Yale University, and can be viewed online.
May 2, 2011
In the NYT, Robert Shiller writes that advances in data collection can help us better understand the risk of another financial shock.
April 27, 2011
Roger Ibbotson has received the Financial Analysts Journal's Best Perspectives Award for "The Importance of Asset Allocation."
Treasury security prices tend to be lower on auction days, which results in a large issuance cost for the U.S. Treasury Department, finds Hongjun Yan.
April 6, 2011
Marissa King finds that wealthier neighborhoods with more resources to diagnose autism have helped fuel the dramatic rise in autism prevalence.
March 23, 2011
Ian Ayres discusses his book Carrots and Sticks, which outlines how to craft effective incentives and commitments.
March 23, 2011
K. Sudhir has been designated the James L. Frank '32 Professor of Private Enterprise and Management.
March 22, 2011
In the NYT, Robert Shiller writes that we can keep traditional public pensions by changing how we compute them.
February 25, 2011
Marissa King studies how large-scale phenomena, like the increased prevalence of autism, arise from local behavior.
February 7, 2011
A new national housing bubble is not likely to happen anytime soon, writes Robert Shiller in the New York Times.
January 25, 2011
Justin Murfin finds surprising evidence of what drives lenders to write stricter loan contracts.
January 24, 2011
The Wall Street Journal reports on Cade Massey's study of NFL data that finds the first down is a powerful indicator of which team will win.
January 24, 2011
In Newsweek, Jeffrey Sonnenfeld writes about visionary founders and the companies that need to outlast them.
Faculty, students, and alumni of Yale SOM and Yale Law School worked together to produce a white paper on the causes and effects of the foreclosure crisis in minority communities.
December 9, 2010
Should you take charge? Should you work to build consensus? In this interview from the forthcoming issue of Qn magazine, Victor Vroom argues that effective leaders are sensitive to the nuances of their organizations, cultural environments, and short- and long-term objectives.
December 9, 2010
Regulators and firms go through a lot of effort to provide financial information to create a level playing field between individual and institutional investors. Alina Lerman measures whether investors are paying attention.
December 9, 2010
The new healthcare reform law aims to make large-scale improvements to the nation's healthcare system. But even small changes in health settings can produce meaningful results. Donald Lee and Elisa Long are among a growing body of operations researchers who are using the tools of their field to make healthcare delivery more efficient and cost effective.
December 8, 2010
Victoria Brescoll finds that on-the-job mistakes are magnified for a female police chief, a male president of a women's college, and others in jobs not normally associated with their gender.
December 5, 2010
In the Associated Press, Martijn Cremers discusses the tool he created to identify "closet indexers," or actively managed funds that hug their benchmark.
November 22, 2010
Metrick spent a year working for the Council of Economic Advisers and described some of the lessons he learned from his time in Washington.
November 16, 2010
In the NYT, Robert Shiller explains how reframing future bailouts can help alleviate taxpayer anger.
October 29, 2010
INFORMS honors Ed Kaplan for his ability to make complex operations research engaging and accessible.
October 13, 2010
"Unleashing creative potential and innovation is the key to cultural and economic development," writes Jonathan Feinstein on Cato Unbound.
October 12, 2010
In Business India, Dean Oster writes about the aims of business education in the post-crisis era.
October 4, 2010
Shiller presented the keynote "Stimulus and Regulation to Promote a Renewed and Spirited World Economy" to the Economic and Financial Committee (Second Committee) of the U.N. General Assembly.
October 4, 2010
Making consumers' energy use more salient can help them conserve, writes Sharon Oster on the Forbes CSR Blog.
October 4, 2010
Corporate managers have inadvertently contributed to a vicious cycle of rising unemployment and plummeting national morale, writes Robert Shiller in the NYT.
September 30, 2010
The NYT reports on Gary Gorton and Andrew Metrick's research on regulating the shadow banking system.
September 15, 2010
Managers treat fiscal year changes as a rare opportunity to shift earnings without being penalized by the capital market, finds Frank Zhang. Read more in the NYT.
September 13, 2010
A 25-year-old idea to pay employees a fixed chunk of revenue is worth a second look, write Ian Ayres and Barry Nalebuff in Forbes.
September 9, 2010
On the Forbes CSR Blog, Dean Sharon Oster writes that no matter how one labels it, the outcomes of the Pepsi Refresh Project add social value.
September 7, 2010
In a study of MBA students, Cade Massey finds that optimists outperform their peers in the job market. Read more in the NYT.
August 30, 2010
In the NYT, Prof. Shiller writes that temporarily bringing back a general revenue sharing program will help stimulate the economy.
August 27, 2010
Three SOM experts discuss the aftermath of the financial crisis and the likely effects of recent regulation.
August 26, 2010
In a commentary on the NYT DealBook blog, Jeffrey Sonnenfeld examines the decision of Hewlett-Packard’s board to remove Mark Hurd as CEO.
Investing legend Roger Ibbotson talk with Money Magazine about time-honored investing strategies in today’s market.
"The Subprime Panic" by Prof. Gary Gorton is the first paper to win all three research awards of the European Financial Management journal.
August 6, 2010
To avoid protracted unemployment, federal stimulus programs should focus on creating jobs in labor-intensive service fields, writes Prof. Robert Shiller in the NYT.
July 27, 2010
In a study of house prices, Prof. Daylian Cain shows how disclosing conflicts of interest can backfire.
July 20, 2010
In Newsweek, Prof. Jeffrey E. Garten writes that the face-off between President Obama and big business won’t last for long.
July 19, 2010
How many undetected terror plots are there and how many can be stopped? Prof. Edward Kaplan answers these important questions by framing terrorism as a queuing problem.
July 1, 2010
On the Forbes CSR blog, Dean Sharon Oster writes that employees, like those on eBay’s Green Team, are helping to push companies toward corporate responsibility.
May 25, 2010
In Investment Dealers Digest, Prof. Gary Gorton writes that the most important task of financial reform is to prevent another crisis for at least 50 years.
May 24, 2010
Prof. Will Goetzmann receives the Financial Analysts Journal's highest honor for "Estimating Operational Risk for Hedge Funds"
May 19, 2010
New research by Prof. Martijn Cremers examines pension fund performance and costs.
New research by Prof. Olav Sorenson finds that enforcement of non-compete agreements moderates the effects that venture capital has on entrepreneurship and regional economies.
A study by Profs. Frederick, Novemsky, and Dhar finds that consumers make different choices when reminded of the opportunity costs of a purchase.
November 30, 2009
In the Financial Times, Jeffrey Garten writes that a weaker dollar is inevitable and a global monetary system that is not centered on the dollar must be devised.
Prof. Jeffrey Sonnenfeld discusses why the Obama administration's pay czar may be the Walter Cronkite or King Solomon of resolving financial disputes.
In the NYT, Prof. Robert Shiller writes that the sudden rise in home prices "...probably reflects a new home-buyer emphasis on market timing."
In a commentary on the NYT DealBook blog, Jeffrey Sonnenfeld examines the decision of Hewlett-Packard’s board to remove Mark Hurd as CEO.
New Commodity ETF Based in Yale SOM Research
August 24, 2010
A new fund is tied to research by Geert Rouwenhorst and Gary Gorton.
August 20, 2010August 24, 2010
A new fund is tied to research by Geert Rouwenhorst and Gary Gorton.
Investing legend Roger Ibbotson talk with Money Magazine about time-honored investing strategies in today’s market.
August 18, 2010
On the Forbes CSR Blog, Dean Sharon Oster highlights the student-led effort to improve the environmental sustainability of SOM’s operations.
Promises Aren't Enough: Business Schools Need to Do a Better Job Teaching Students Values
August 23, 2010
"M.B.A.s who take an ethics oath without enough supporting leadership education are likely more vulnerable to ethical breaches," write Profs. Canales, Massey, and Wrzesniewski in the WSJ.
Female Politicians Pay a Price for Power, Finds Study
August 19, 2010
Female politicians pay a price for power, according to a study by Prof. Victoria Brescoll and Tyler Okimoto.
"The Subprime Panic" by Prof. Gary Gorton is the first paper to win all three research awards of the European Financial Management journal.
August 6, 2010
To avoid protracted unemployment, federal stimulus programs should focus on creating jobs in labor-intensive service fields, writes Prof. Robert Shiller in the NYT.
In a study of house prices, Prof. Daylian Cain shows how disclosing conflicts of interest can backfire.
In Newsweek, Prof. Jeffrey E. Garten writes that the face-off between President Obama and big business won’t last for long.
July 19, 2010
How many undetected terror plots are there and how many can be stopped? Prof. Edward Kaplan answers these important questions by framing terrorism as a queuing problem.
July 1, 2010
On the Forbes CSR blog, Dean Sharon Oster writes that employees, like those on eBay’s Green Team, are helping to push companies toward corporate responsibility.
May 25, 2010
In Investment Dealers Digest, Prof. Gary Gorton writes that the most important task of financial reform is to prevent another crisis for at least 50 years.
Prof. Will Goetzmann receives the Financial Analysts Journal's highest honor for "Estimating Operational Risk for Hedge Funds"
New research by Prof. Martijn Cremers examines pension fund performance and costs.
May 18, 2010
Economic models aren't forecasting a double-dip recession, but the risk remains as long as people lack confidence in the economy, writes Robert Shiller in the New York Times.
Dean Oster writes about how BP should respond to its oil spill crisis on Forbes' new corporate social responsibility blog.
April 12, 2010
In the New York Times, Prof. Robert J. Shiller writes that there is a lack of evidence to support that the recent increase in home prices will lead to a sustained housing recovery.
April 8, 2010
Top picks in the NFL draft, although highly valued by teams, are bad investments finds a paper co-authored by Cade Massey.
In a Project Syndicate commentary, Prof. Robert J. Shiller explains that economists are not in a good position to forecast the end of the current economic crisis.
February 26, 2010
Prof. Gary Gorton will present research on the shadow banking system at a Financial Crisis Inquiry Commission forum examining the causes of the crisis.
February 22, 2010
Prof. Olav Sorenson finds that movies produced by major studios and well-known filmmakers receive more lenient parental guidance ratings, giving them an advantage at the box office.
February 18, 2010
In a Financial Times op-ed, Professor Robert J. Shiller writes about the extent to which national leaders can boost economic confidence.
Profs. Gorton and Rouwenhorst Discuss Their Seminal Commodity Futures Study in the Financial Times
February 11, 2010
Professors Gary Gorton and K. Geert Rouwenhorst discuss their paper "Facts and Fantasies About Commodity Futures" in a Financial Times feature interview.
February 10, 2010
In a Financial Times op-ed, Prof. Jeffrey Garten writes that America’s bilateral approach towards China is not working.
February 10, 2010
Prof. Shyam Sunder analyzes the suggestion that all people should invest in index funds and not chase excess returns.
February 5, 2010
Research by Prof. Martijn Cremers and co-authors from Harvard Law School and INSEAD finds the share of top executive pay awarded to the CEO is related to firm performance.
February 4, 2010
Professor Shyam Sunder provides suggestions on how to mitigate the problems caused by financial firms that are "too big to fail."
February 2, 2010
New research by Prof. Will Goetzmann finds the recent collapse of the real estate securities market wasn’t the first in U.S. history.
February 1, 2010
In the New York Times, Prof. Robert Shiller writes that solutions for the economy must address the economic pessimism of workers and investors.
January 29, 2010
"In spite of the Christmas near-miss over Detroit, the real risk of flying is truly tiny, with or without the added terror scare," write SOM Prof. Ed Kaplan and Technion Prof. Boaz Golany in the Jerusalem Post.
January 28, 2010
Professor Keith Chen’s work has prompted a re-evaluation of the theory of cognitive dissonance.
December 15, 2009 Economic models aren't forecasting a double-dip recession, but the risk remains as long as people lack confidence in the economy, writes Robert Shiller in the New York Times.
“An Opportunity to Heal the Healthcare Industry” – Commentary by Howard Forman and Stanley Garstka
May 17, 2010
In the Financial Times, Howard Forman and Stan Garstka write that it’s time for business schools to step up to address the leadership challenges of the healthcare industry.
What Do We Make of CSR Reporting?
May 12, 2010
Dean Sharon Oster discusses an economic rationale for voluntary CSR reporting on the Forbes CSR blog.
Dean Oster writes about how BP should respond to its oil spill crisis on Forbes' new corporate social responsibility blog.
April 12, 2010
In the New York Times, Prof. Robert J. Shiller writes that there is a lack of evidence to support that the recent increase in home prices will lead to a sustained housing recovery.
April 8, 2010
Top picks in the NFL draft, although highly valued by teams, are bad investments finds a paper co-authored by Cade Massey.
Road Ahead for Organized Retail - Commentary by K. Sudhir
March 18, 2010
In an Economic Times op-ed, Professor K. Sudhir writes that organized retail in India can achieve long-term success by following the strategies of China and other Asian countries that recently modernized their retail sector.
March 15, 2010 March 18, 2010
In an Economic Times op-ed, Professor K. Sudhir writes that organized retail in India can achieve long-term success by following the strategies of China and other Asian countries that recently modernized their retail sector.
In a Project Syndicate commentary, Prof. Robert J. Shiller explains that economists are not in a good position to forecast the end of the current economic crisis.
Prof. Gary Gorton will present research on the shadow banking system at a Financial Crisis Inquiry Commission forum examining the causes of the crisis.
Prof. Olav Sorenson finds that movies produced by major studios and well-known filmmakers receive more lenient parental guidance ratings, giving them an advantage at the box office.
In a Financial Times op-ed, Professor Robert J. Shiller writes about the extent to which national leaders can boost economic confidence.
Profs. Gorton and Rouwenhorst Discuss Their Seminal Commodity Futures Study in the Financial Times
Professors Gary Gorton and K. Geert Rouwenhorst discuss their paper "Facts and Fantasies About Commodity Futures" in a Financial Times feature interview.
February 10, 2010
In a Financial Times op-ed, Prof. Jeffrey Garten writes that America’s bilateral approach towards China is not working.
February 10, 2010
Look for Winners or Accept the Returns on Market Index - Commentary by Prof. Shyam SunderProf. Shyam Sunder analyzes the suggestion that all people should invest in index funds and not chase excess returns.
February 5, 2010
Research by Prof. Martijn Cremers and co-authors from Harvard Law School and INSEAD finds the share of top executive pay awarded to the CEO is related to firm performance.
February 4, 2010
Professor Shyam Sunder provides suggestions on how to mitigate the problems caused by financial firms that are "too big to fail."
February 2, 2010
New research by Prof. Will Goetzmann finds the recent collapse of the real estate securities market wasn’t the first in U.S. history.
February 1, 2010
In the New York Times, Prof. Robert Shiller writes that solutions for the economy must address the economic pessimism of workers and investors.
January 29, 2010
"In spite of the Christmas near-miss over Detroit, the real risk of flying is truly tiny, with or without the added terror scare," write SOM Prof. Ed Kaplan and Technion Prof. Boaz Golany in the Jerusalem Post.
January 28, 2010
Professor Keith Chen's Research Discussed in New York Times' TierneyLabProfessor Keith Chen’s work has prompted a re-evaluation of the theory of cognitive dissonance.
Who’s Sorry Now? – Commentary by Jeffrey Sonnenfeld
January 7, 2010
On the NYT DealBook blog, Prof. Jeffrey Sonnenfeld writes about CEOs who accept responsibility for failure instead of passing the buck.
New research by Prof. Olav Sorenson finds that enforcement of non-compete agreements moderates the effects that venture capital has on entrepreneurship and regional economies.
Is Optimism Rational? – An Interview with Cade Massey
December 8, 2009
Is optimism good for us? Do we adjust our sunny expectations based on experience? Cade Massey, discusses his research.
What Are You Thinking? – An Interview with Robert Shiller
December 8, 2009
Decades of economic research have assumed people pursue their goals in a rational manner. Robert Shiller argues that economists need to take a closer look at how people make decisions.
What is Behavioral? – A Discussion with Nicholas C. Barberis and Shane Frederick
December 8, 2009
A host of studies and academic theories that apply psychological insights to economic behavior have been grouped under the label "behavioral." Is this growing field changing how the economy is studied — and how it functions?
Are we good at making choices? – A Discussion with Judy Chevalier, Keith Chen, and James Choi
December 8, 2009
Do the choices we make as consumers serve our economic interests? Do they even reflect our real preferences? Three Yale scholars discuss research — their own and others' — that sheds light on these questions.
Hate Your Job? Here's How to Reshape It
December 4, 2009
In Time magazine, Amy Wrzesniewski discusses how job-crafting can help people implement small changes to make their work more engaging and meaningful.
Up North and Down South: Spatial Metaphors Influence Consumers'
Judgments
December 3, 2009
Consumers believe "north is up" and "south is down," finds research by Prof.
Joseph Simmons. This belief, shaped by language and experience, can affect
judgments of travel time, ease, and cost.
A study by Profs. Frederick, Novemsky, and Dhar finds that consumers make different choices when reminded of the opportunity costs of a purchase.
November 30, 2009
In the Financial Times, Jeffrey Garten writes that a weaker dollar is inevitable and a global monetary system that is not centered on the dollar must be devised.
What if a Recovery Is All in Your Head? - Commentary by Robert J. Shiller
November 23, 2009
"Beyond fiscal stimulus and government bailouts, the economic recovery that appears under way may be based on little more than self-fulfilling prophecy," writes Robert Shiller in the New York Times.
November 23, 2009
"Beyond fiscal stimulus and government bailouts, the economic recovery that appears under way may be based on little more than self-fulfilling prophecy," writes Robert Shiller in the New York Times.
Choi on Retirement Savings
November 9, 2009
James Choi describes his research into one simple way to raise participation rates in 401k plans: change the default.
New Database Captures Widespread Corporate Governance Changes of 1980s
October 28, 2009
Prof. Martijn Cremers tracks 30 years of governance’s effect on firm performance.
Prof. Jeffrey Sonnenfeld discusses why the Obama administration's pay czar may be the Walter Cronkite or King Solomon of resolving financial disputes.
Sunder on Accounting Regulation
October 14, 2009
Prof. Shyam Sunder describes how failures in accounting regulations contributed to the financial crisis.
In the NYT, Prof. Robert Shiller writes that the sudden rise in home prices "...probably reflects a new home-buyer emphasis on market timing."
Menu Calorie Labels Increase Awareness, But May Not Alter Food Choices
October 6, 2009
A study co-authored by Prof. Victoria Brescoll is the first to evaluate the effectiveness of the menu calorie-labeling policy mandated in New York City restaurants to fight obesity.
Banking Panics: Deja Vu All Over Again - Commentary by Gary Gorton
October 5, 2009
Prof. Gary Gorton is the first contributor to the New York Times' DealBook Dialogue, an online round table of experts examining the topic "Too Soon to Rethink? Assessing the Financial Crisis."
In Defense of Financial Innovation - Commentary by Robert Shiller
September 28, 2009
In the Financial Times, Robert Shiller writes that complex financial products have the potential to protect investors from risk and should not be discouraged in response to the financial crisis.
Meet the New Faculty: Kalin Kolev, Assistant Professor of Accounting
September 25, 2009
Kalin Kolev's research in empirical financial accounting has examined fair value accounting and the misuse of special items.
Meet the New Faculty: Constança Esteves-Sorenson, Assistant Professor of Management September 22, 2009
Constança Esteves-Sorenson is studying inertia in decision-making and wage discrimination between male and female physicians.
In BusinessWeek, Jeffrey Garten writes that "...a global central bank is becoming a necessity in today's complex, interconnected world economy."
Meet the New Faculty: Arthur Campbell, Assistant Professor of Economics
September 14, 2009 Arthur Campbell's recent work is on pricing and ad strategies in markets where consumers engage in word of mouth communication.
Meet the New Faculty: Olav Sorenson, Professor of Organizational Behavior
September 8, 2009
Yale SOM welcomed four new faculty members on July 1. This series highlights their research interests, which range from venture capital and social networks to financial accounting and behavioral economics. Olav Sorenson, professor of organizational behavior, has extensively studied economic geography, or why firms cluster.
An Echo Chamber of Boom and Bust - Commentary by Professor Robert Shiller
August 31, 2009
In the New York Times "Economic View" column, Robert Shiller writes that a social epidemic is supporting renewed confidence in the economy.
Fed Chairman Cites Research by Profs. Gorton and Metrick in Speech on Financial Crisis
August 25, 2009
Fed Chairman Ben Bernanke referenced research by Professors Gary Gorton and Andrew Metrick in remarks on the financial crisis delivered at the Federal Reserve Bank of Kansas City’s Annual Economic Symposium.
Executive Compensation on Wall Street
August 3, 2009
An ABC World News report featured the comments of associate professor Jonathan G.S. Koppell on bonus payments made by banks that accepted bailout funds from the federal government.
Evaluating Risk
July 31, 2009
Robert Shiller discussed the need for better risk management in markets and how human psychology drives the economy on Charlie Rose.
America Still Rules – Commentary by Jeffrey E. Garten
July 30, 2009
In Newsweek, Jeffrey Garten writes that “…America can lead the global recovery politically without having to do all the heavy lifting economically.”
A Guide to Leveraged Finance (pdf)
July 28, 2009
Frank Fabozzi’s new book Leveraged Finance: Concepts, Methods, and Trading of High-Yield Bonds, Loans and Derivatives explains the instruments and markets used to finance much of corporate America. Read an excerpt. (pdf)
Conference Highlights Financial Crisis Research
July 28, 2009
This summer marks the two-year anniversary of the start of the financial crisis. The ICF at the Yale School of Management and the Review of Financial Studies assembled researchers to discuss what they have learned about the crisis and its causes.
Financial Invention vs. Consumer Protection - Commentary by Professor Robert Shiller
July 21, 2009
In the NYT, Robert Shiller writes "…Innovation often entails tension between safety and power. We need to foster [financial] inventions that better human welfare while incorporating safety mechanisms that protect the public."
In East Asian Business, Blood Thicker Than Water – A Commentary by Zhiwu Chen
July 15, 2009
Zhiwu Chen writes about family succession in China and Japan in the Global Times.
Q&A with Roger Ibbotson
July 15, 2009
In a Q&A with the CAIA Association’s AllAboutAlpha.com, Roger Ibbotson talked about quant fund strategy, the biggest market surprises of the year, and his views on hedge fund regulation.
Art Investing
July 15, 2009
William Goetzmann discussed the art market collapse and how the economic crisis will shift our taste in art in Art + Auction.
Fed Chairman Recommends a Paper on the Roots of the Financial Crisis by Gary B. Gorton June 18, 2009
Ben Bernanke, chairman of the Federal Reserve, recommended "Slapped in the Face by the Invisible Hand: Banking and the Panic of 2007," by Professor Gary B. Gorton, for its analysis of the role the “shadow banking system” played in the financial crisis.
Pay, Risk and Stewardship (pdf) June 16, 2009
The Millstein Center report “Pay, Risk and Stewardship” outlines policy recommendations in three critical areas raised in the financial crisis as issues for reform: pay for performance, risk oversight and management, and shareholder stewardship.
Agenda for Private Sector Reform (pdf) June 16, 2009
The Millstein Center report “Agenda for Private Sector Reform” is a governance reference for private sector players to use when considering reforms to restore pubic and regulatory confidence in the capital market.
Why Home Prices May Keep Falling – A Commentary by Professor Robert Shiller
June 8, 2009
In the New York Times, Robert Shiller outlines several factors that can explain long, steady declines in the real estate market.
Albert Gordon: Financial Leadership the Old-Fashioned Way – A Commentary by Professor Jeffrey Sonnenfeld May 29, 2009
Jeffrey Sonnenfeld remembers legendary Kidder Peabody financier Albert Gordon, who died on May 7 at age 107.
Consumers Neglect Opportunity Costs of Purchases
May 24, 2009
''Sellers of expensive goods should trivialize opportunity costs,'' said Nathan Novemsky in a New York Times story about research with Ravi Dhar and Shane Frederick that finds consumers make different choices when reminded about other ways purchase money could be spent or saved.
Class of 2009 will Suffer Lower Wages for Years
May 20, 2009
“They’re going to be earning much less money than their counterparts who graduated in better times,” said Lisa Kahn on ABC News. Kahn has studied the long-term effects of graduating in a bad economy. Watch the video.
E-Book Economics
May 16, 2009
Fiona Scott Morton discussed e-book pricing and competition in the New York Times: “I don’t think the content providers have to be in a worse position.”
Study: Hedge Fund Managers’ Reputation Concerns Influence Strategy April 28, 2009
“Many believe hedge funds are playing an important role in the current financial crisis. To fully appreciate the impact of this industry on the overall economy, one has to understand the reputation concerns of hedge fund managers,” says Professor Hongjun Yan.
Professor Robert Shiller Explains Role of Animal Spirits in Economic Crisis and Recovery in New Book April 14, 2009
In their new book Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism (Princeton University Press), Robert J. Shiller and co-author George A. Akerlof explain how the world economy fell into — and can recover from — the current crisis in terms of animal spirits, or the changing patterns of people’s feelings and ideas. Read the first chapter of the book online (pdf).
Discrimination and Credit April 3, 2009
SOM's Fiona Scott Morton and Yale Law School's Rick Brooks on barriers facing minorities in the credit and real estate markets.
Matthew Spiegel Wins Best Paper Award
March 12, 2009
Matthew Spiegel, professor of finance, has been named co-winner of the annual Ross Best Paper Award from the journal Finance Research Letters for "Patterns in Cross Market Liquidity." The paper, published in March 2008, was the journal’s inaugural "challenge" paper aimed at stimulating new areas for research.
Emerging Market Consumers March 9, 2009
A new YCCI research program studies changing patterns of consumer spending and saving in China and India’s rapidly growing economies.
Study Explains How Customers Customize Products March 4, 2009
Research by Professor Ravi Dhar explains how the methods companies like Dell and Nike use to help customers customize their products influence what customers buy and whether they will buy at all.
Professor Robert Shiller Writes about the Subprime Market in New Book
September 2008
In The Subprime Solution: How Today’s Global Financial Crisis Happened and What to Do about It, Shiller argues that the core problem of the subprime crisis is that we as a society do not understand, or know how to deal with, speculative bubbles. Read the first chapter of the book online.
Read an additional excerpt on the Qn Website.
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