Author: EconLearner

Ivory Tower Syndrome can be devastating when companies lose touch with their remote workers.getty Ivory tower syndrome is not new. It’s been around for a long time to refer to situations where leaders and companies lose touch with employees. And the consequences can be devastating. The syndrome has been recognized post-pandemic with increases in telecommuting—not because of telecommuting per se but because of the lack of constant employer-employee contact. Science shows that workplace connections pay off. According Gallup, when that connection is broken, employees feel like they don’t belong, performance suffers and engagement drops. Gallup data shows that “Employees who…

When you look for a jug of eco-friendly detergent at the store, are you buying it because you want to protect the environment? Or do you think it’s more effective than a traditional cleanser? Or is it some combination of the two?Understanding how consumers perceive sustainable products has become increasingly important as these products, once considered niche, crowd retail shelves. The share of consumer goods available on a sustainable market has increased approx seven times faster than that of conventional products.In this context, marketing professor Kellogg Alexander Chernev recently was investigated The connection between knowledge of a product was made…

But there’s another area of ​​contention that gets less attention: how raising the minimum wage might affect worker productivity.”The average person would imagine that when wages go up, including the minimum wage, workers would be more committed to their employer and could become more productive because they care more about keeping their jobs,” he says. Nikola Persiko, Kellogg professor of managerial economics and decision sciences. This could be a win for both employees and employers.The problem is that economists don’t know much about the effects of a higher wage on productivity. There just hasn’t been much research on the question,…

American policymakers and patients across the political spectrum generally agree that rising health care prices are a concern, but the question of how to bring them down has sparked contentious, mainstream debates. Some advocate expanding the government’s public health care option — often referred to as the acronym “Medicare for All” — which would pay hospitals and other providers far less for most services than private insurers currently do. Others called on the government to immediately regulate health care prices.While lower prices sound attractive to consumers, Kellogg professors Amanda Stark and Craig Garthwaite wondered what the domino effects of legislating…

WASHINGTON, DC – AUGUST 05: Secretary of Education Dr. Miguel Cardona answers questions during … [+] daily briefing at the White House, August 5, 2021 in Washington, DC. The Department of Education has announced more potential changes to student loan servicing. (Photo by Win McNamee/Getty Images)Getty Images As borrowers try to navigate new federal student loan forgiveness and repayment programs after the end of the Covid-era grace period, loan servicers have struggled. With understaffed, underfunded and tasked with implementing a wide variety of new Biden administration initiatives, the student loan companies contracted by the Department of Education to manage the…

The health of the relationship depends on how enthusiastically you take the highs and how gracefully … [+] you keep it low.getty A 2021 study published in the journal Frontiers in Psychology emphasized the importance of healthy communication in a relationship, not only during tense times like a fight or an emergency, but also when experiencing good times like a promotion or romantic vacation. A partner’s response and way of communicating in these moments can either lead to higher levels of relationship satisfaction or signal the end of the relationship. Here are two critical moments in a relationship that can…

But will it get the results you want?After all, for every punch thrown online, someone is ready with a counter punch. Another camp, supporting the policy or a politician, may urge their followers to go shopping. This counter move is called a buycott.Anna Tuchman, a marketing professor at Kellogg, wanted to know what really happens to consumer behavior—and sales—when a company finds itself in a political firestorm on social media. “While there were a lot of boycotts in the past, there are more buycotts now,” he says.Business leaders want to understand how social media outrage is affecting their bottom line,…

This video is a beginners guide to financial literacy. Financial literacy is the knowledge and skills to make smart money decisions …

But at the company’s end, running an effective service involves a number of complex issues. Among them: How can companies encourage people to share rides with strangers, which lowers costs and carbon emissions, rather than having the car to themselves? And, when drivers are expecting new requests, how should they decide whether to stay put or head to another neighborhood?Two studies from the Kellogg School have addressed these questions. The first explored how best to address one of the reasons customers often choose to travel alone: ​​detours to pick up a colleague. The researchers developed a mathematical model showing that…

According to the viral video, quietly quitting is doing the bare minimum at work. Rather than going above and beyond, a quiet quitter’s sole goal is to do enough to justify his continued compensation.But while stressors exacerbated by the pandemic may leave many employees feeling exhausted, discouraged and disengaged at work, that’s not quite the same as actively deciding to control it, he says. Leigh Thompsonprofessor of management and organizations at Kellogg and expert in navigating and negotiating workplace relationships.And luckily, disengagement is treatable. “Most of us want to be engaged, because it’s more fun to be engaged. If I’m…