Word: chicago
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...which are recipients of federal aid - may be taking advantage of the taxpayer bailout of AIG to boost their profits. "It seems very possible that the banks are forcing AIG to unwind its contracts at a premium," says James Bianco, who runs a financial-markets research firm in Chicago...
Neoclassical economics - another University of Chicago specialty - has ruled our world for decades. It's the doctrine that markets know best: when government keeps its hands off free enterprise, capital migrates to its most productive uses and society prospers. But its elegant models rely on a bold assumption: rational decisions by self-interested individuals create efficient markets. Behavioral economics challenged this assumption, and the financial meltdown has just about shattered it; even former Fed chairman Alan Greenspan confessed his Chicago School worldview has been shaken. "We couldn't have planned a better marketing campaign for behavioral economics," MIT's Ariely...
...existence of this behavioral dream team - which also included best-selling authors Dan Ariely of MIT (Predictably Irrational) and Richard Thaler and Cass Sunstein of the University of Chicago (Nudge) as well as Nobel laureate Daniel Kahneman of Princeton - has never been publicly disclosed, even though its members gave Obama white papers on messaging, fundraising and rumor control as well as voter mobilization. All their proposals - among them the famous online fundraising lotteries that gave small donors a chance to win face time with Obama - came with footnotes to peer-reviewed academic research. "It was amazing to have these bullet...
Orszag has been an unabashed behavioral geek ever since he read that 401(k) study. His deputy, Jeff Liebman of Harvard, is a noted behavioral economist, as are White House economic adviser Austan Goolsbee of the University of Chicago, Assistant Treasury Secretary nominee Alan Krueger of Princeton and several other key aides. Sunstein has been nominated to be Obama's regulatory czar. Even National Economic Council director Larry Summers has done work on behavioral finance. And Harvard economist Sendhil Mullainathan is organizing an outside network of behavioral experts to provide the Administration with policy ideas...
...want to launch Smart Girls at the Party, your new Web series? -Elizabeth Chan, Chicago It's a talk show for young girls. We wanted to do something to show real, regular girls and what they're interested in. What better way to find that out than to ask them very serious, hard-hitting questions like "Which do you believe exist: unicorns or fairies...