Author: EconLearner

You can remind yourself how happy you are in general, so you don’t have to cut corners, or (in case of financial temptation) how much money you have in savings, so you don’t have to earn more by questionable means. But according to two researchers at the Kellogg School, there’s another important element that you probably wouldn’t imagine: a psychological phenomenon called “regulatory adaptation.”Decades of research have identified two basic approaches to motivation: a promotion-focused style, which emphasizes aspiration and thinking about positive outcomes, and a prevention-focused style, which focuses on maintaining safety, fulfilling obligations, and to avoid problems. Most…

Most businesses would welcome a crystal ball that predicts their future expenses. And, in a way, that’s what online retailers get in the time between receiving an order and having it delivered to their customers’ doors.For example, take mattress retailers that offer one-week delivery. This weekly window allows the business to see its own transportation needs one week into the future—that is, what it would have to spend to get its mattress to everyone who ordered one on a particular day.Then again, a crystal ball that can only be seen a week in advance may not seem very powerful. So…

Family getaways and hot dog barbecue holidays lure employees away for long periods. Even when out-of-office responses are turned off, daydreaming can make it difficult for anyone to focus on work.Want to fight the summer slump? Research from the Kellogg School explores how organizations can keep staff motivated and on track year-round.1. Offer the right incentivesThe lure of career advancement can keep employees working hard when they’d rather be at the beach. But what’s an organization to do when there aren’t plenty of deals to hand out?Michael Powellassociate professor of strategy and his colleagues created a mathematical model to explore…

New to the Erika Taught Me podcast? Start here: Barbara Corcoran (Shark Tank) on success: https://youtu.be/iL4Pc5povO8 What …

America must decide which way it wants to go with immigration reform. Here is the way forward.getty At the center of the US immigration debate is a complex web of issues, with the need to manage the influx of immigrants crossing the southern border without prior authorization. Close behind is the question of what to do with the nearly ten million undocumented immigrants who have come to live in the United States, with the vast majority now here for over a decade. US refugee policy is one factor to consider.getty International Obligations and Refugee Protection Core international obligations regarding refugees…

“In many people’s minds, donations from corporations tend to be corrupt or have the potential to be corrupt, while donations from individuals are seen as mostly ideologically driven,” he says. Eduardo Tessoassistant professor of managerial economics and decision sciences at the Kellogg School. But does this common distinction reflect reality? After all, many people are connected to companies, and if they are high enough in their organization’s hierarchy, they may benefit greatly from a particular candidate’s victory. It’s an important question to ask because donations from individuals make up the majority of campaign contributions — by far. In 2018, more…

How does this store use your likes and comments? Rather, he uses them to shape his social media marketing strategy. But it’s much less likely that the retailer will use that data to make operational decisions, like how many pairs of those jeans to make or whether to cut prices.That could change. In a recent study, Antonio Moreno, associate professor of operations at Kellogg, found that social media data can improve sales forecasts. When the researchers incorporated information about a clothing company’s Facebook interactions into predictive models, they were able to more accurately estimate purchases the following week.The use of…

getty To stand out from other candidates, job seekers are increasingly required to acquire certifications, learn new skills, and develop their personal brands. However, these rapidly changing expectations have led to common misconceptions among job seekers about what it takes to get hired. Here, 11 Council of Young Entrepreneurs Members share their thoughts on these common beliefs and the advice they would give to job seekers. Review their insights to gain clarity on how prospective candidates can develop the right strategies to land their dream jobs. 1. “Qualifications alone will get me the job” A major misconception is to think…

Ready for some big tax savings from tax loss harvesting?getty As we approach the end of the year, now might be the time to see if tax loss harvesting could help you lower your taxes for 2023. If you’ve turned on the TV or watched the news, you’re probably aware that almost all departments of the stock market were down in 2022. For its part, 2023 has also been quite volatile, even though many people have seen some decent returns in their investment accounts. Even if your portfolio has grown over the years, you may have some losers, or perhaps…

Mark Schwartz is the Senior Vice President of Construction Enterprise Solutions at Triple. getty By 2050, the Earth’s population is projected to increase by approx 9.7 billiondemanding an increase in food production by 60% to 70% while the use of even less land and water as resources continues to be affected by climate change. Precision farming, which is the science of improving performance through sensors and analytics tools, is already being used to help address this challenge. However, it requires farmers to have the right specialized equipment, software and connectivity to work because real-time data must be collected in the…