Status: Means to an End Or An End in Itself?

Why is status so important to us? Do we consider it a tool to obtain power or a goal in and of itself? To answer these questions, Bernardo A. Huberman and Professors Christoph Loch and Ayse Onculer ran a human experiment, using a rent-seeking game to examine status and behavior in the US, Hong Kong, Turkey and Germany. Their results may surprise you.

When the Chips are Down: Betting on Risky Business

Every day people have to stick out their necks and make decisions dealing with uncertainty. Manufacturing firms decide if they want to take a chance on developing a new product. In the financial field, business people look for investments that will bring in the most money. In her working paper, Professor Ayse Öncüler creates a model that analyzes how people decide to place their bets. … [ Read more ]