Author: EconLearner

Here’s a roundup of some of our favorite findings about how emotions like anger, fear, disgust, and anticipation can shape what ends up in our shopping carts and calendars.1. Anger can help consumers focus on what they wantConventional wisdom suggests that before making a major purchase, it’s best to feel calm, cool and collected. After all, you wouldn’t want your emotions to get in the way of a smart decision. But what if this isn’t always true?A set of studies by Michal Maimaran, a research professor of marketing at Kellogg, finds a surprising benefit of feeling angry when making decisions.…

In this episode of The 1% Club Show, I spoke to Lakshmi Iyer, who is the CEO of Kotak Investment and Advisory business.

And so, in response to these divergent preferences, organizations tend to adopt strategies to encourage, discourage, or guide the way employees work. These strategies—which management scholars call “behavioral control mechanisms”—include the incentives, quotas, and detailed protocols that are so common in many workplaces.Leaders—and the consultants they hire—go to great lengths to develop these control mechanisms. However, the level of energy and capital invested in these facilities does not necessarily predict their effectiveness.What must organizations do to ensure their success? New research from the Kellogg School of Management suggests that part of the answer may lie in making sure these aren’t…

“In some cases and for some children, having this information can be a lifesaver,” he says Lauren Riveraprofessor of management and organizations at the Kellogg School.But according to new research by Rivera and András Tilcsik of the University of Toronto’s Rotman School of Management, discrimination prevents families from gaining such critical knowledge. Their study found that public school principals are less responsive to parents of children with disabilities when it comes to providing information about schools. This is especially true when the parent of a child with special needs is perceived to be black.”While we find that there is differential…

“The idea that one becomes stronger through failure is the kind of stern advice people might tell themselves in difficult times,” says strategy professor Kellogg. Benjamin Jones. Indeed, this idea has taken on new life in the “fail fast, fail often” mindset of startups, where it’s accepted that getting out is not just something to be endured, but a critical step on the path to success.But how true is this widespread belief? And when exactly can failure be a blessing?Kellogg faculty examines the surprising benefits of failure and how you can own—and even profit from—your mistakes.You might be happy to…

Here’s some insight from Kellogg professors on how individuals, teams, and companies can get comfortable with and get the most out of data analytics.1. Leaders must also understand AnalyticsFirst, let’s dispel the myth that you just need to hire a crackerjack analytics team.Florian Zettelmeyermarketing professor, emphasizes the need for business leaders to be comfortable with analytics as well.This does not require a degree in computer science. It takes what Zettelmeyer calls a “working knowledge” of data science. This means you can separate the good data from the bad and know exactly where analytics can add value.Zettelmeyer says most managers share…

US Trade Representative Catherine Tye (C) speaks during a cabinet meeting in … [+] Indo-Pacific Ministerial Economic Conference in Los Angeles, California on September 8, 2022. (Photo by Frederic J. BROWN / AFP)AFP via Getty Images The US and other trade negotiators working on the Indo-Pacific Economic Framework for Prosperity (IPEF) are in San Francisco this week to see how much progress they can put on paper before making a big announcement. The answer, it turns out, is not much. US calls for other countries to sign up to “strong and enforceable labor standards” have hit roadblocks. Not surprisingly—those other…

These are the career civil servants whose long-term job security does not depend on political beliefs. They are, by default, shielded from dismissal attempts by administrations whose policies they disagree with.Insulating lower-level bureaucrats from the tendency of incoming administrations to install political loyalists in senior positions has a number of well-established benefits. First, it ensures that the machinery of government does not grind to a halt after every election. It also enables federal departments to hire and promote people based on experience rather than ideology. And eliminating that system would effectively gut whistleblower protections (as anyone from the opposite party…

CoverSelf co-founder Rajasekhar MaddireddyCreative photography How do America’s health insurers resolve claims more efficiently and accurately in a system notorious for bureaucracy and rigid practice? Technology startup CoverSelfwhich is announcing a $3.4 million expansion of its seed funding round today, believes its software platform could be the answer. Founded in 2021 by two healthcare veterans, Rajasekhar Maddireddy and Raghavendra Pawar, CoverSelf targets payers in the US system – the insurance companies that pay hospitals and other care providers on behalf of the patients they have treated. Currently, these insurers outsource the work of processing their claims and payments to third…

Executive onboarding in two stepsgetty “A company asked me to work part-time for ten weeks, when the intention is to turn me into a full-time head of marketing. They also revealed that it is also an opportunity for both sides to assess their suitability.” This tentative temp-to-perm lease has pros and cons for both sides. The advice to anyone who receives such an offer is to write their own story. The advantages for the organization are immediate assistance and a low-risk way of assessing capabilities, motivation and adaptation. The disadvantages are starting a relationship with less than full commitment, communicating…