Author: EconLearner

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Bucking the party line may not be as dangerous as people think

Politics & Elections

But that fear, while not unfounded, is often greatly exaggerated, he says Trevor SpellmanPhD student in management and organizations at the Kellogg School.Spelman worked with Kellogg professors of Management and Organizations and his co-directors Litowitz Center for Enlightened Dissent Eli J. Finkel and Nour Kteily as well as Abdo Elnakouris of the University of Houston to study how Democrats and Republicans react when people in their own party diverge from their party’s standard view on key issues.They found that individuals from both political parties consistently and substantially overestimated how much their own party would punish them for expressing opposing views.This…

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4 trends to watch in China’s economy

Economics

The world’s second-largest economy has been one of the great success stories of the past 50 years, growing at a staggering 10 percent per year and becoming a dominant player in global trade.However, high youth unemployment, stubbornly low consumption, deflation and a persistent real estate crisis are challenging China’s businesses and government. Its annual GDP growth has fallen to around 5%. And that’s before considering the recent escalation of trade tensions with the United States, as tariffs in both countries have risen to unprecedented levels.Against this turbulent backdrop, the Kellogg School convened an international roundtable of economists, policy experts, and…

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Is AI turning back the clock on the job market?

Economics

But artificial intelligence seems poised to follow the opposite trend. AI’s ability to handle office tasks like copywriting and data analysis seems more likely to hurt white-collar jobs than jobs where practical skills remain paramount.In a way, “AI is turning back the clock,” he says Bryan SeegmillerKellogg assistant professor of economics.Research by Seegmiller and colleagues supports this prediction. They used large language models to analyze nearly 200 years of data on technological innovations and occupations. And they found that as the use of artificial intelligence evolves in the workplace, the relative demand for white-collar jobs declines, with the jobs attracting…

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In price negotiations, every second counts

Marketing

“Negotiation is everywhere,” he says Caio Waismaneconomist and associate professor of marketing at the Kellogg School.It has been a focal point for business and economists since at least the early 20th century. For example, John Nash, the Nobel laureate who appears in the film A beautiful mindwrote a paper on negotiations in the 1950s. And research has found that time—or more specifically, how buyers and sellers delay responding to offers—is a powerful tool in negotiation.”Delay is important because it’s one of the few levers you can use to influence the outcome of a negotiation,” he says. Jessica Fong of the…

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The vicious cycle of long waiting years

Operations

Whether it’s ordering food or making a doctor’s appointment, “as customers wait in line, there comes a point where they eventually get so bored or frustrated that they leave,” he says Ahal BasabuKellogg business professor.This problem of customers leaving without ever being served is one the service industry has studied for decades, he says, and it happens in two main ways: “referral,” which is when someone sees a long line and decides not to join it at all, and “abandonment” (often called “abandonment”), which is when someone joins the line but leaves before service begins to stop waiting.Solving the problem…

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