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Faculty Viewpoints

  • How do healthcare consumers make decisions?

    Like consumers of other goods and services, healthcare consumers don’t always make decisions that are in their own best interests. Four experts — a psychologist, an organizational behaviorist, a behavioral economist, and a clinician — discuss the challenges of helping people make healthy choices.

  • What is the return on a life saved?

    Ed Kaplan and David Paltiel have known each other for 20 years, sometimes collaborating on research projects or coauthoring papers. They argue that when the tools of a business education are applied to the problems of healthcare, such as the HIV/AIDS pandemic, the result can be better decisions about how to use scarce resources.

  • Can we manage with(out) markets?

    "Markets are a special set of rules of the game that define institutions to enable mass exchange of resources at a low cost." This is Martin Shubik's one-sentence definition of what a market is. Embedded in its few words are all the complexity and variation in how rules and institutions affect a market's functioning.

    Martin Shubik
  • What is a long life worth?

    A document from 1787 Holland lists the names of girls whose income from government annuities was pooled and securitized, allowing investors to essentially bet that the girls would live a long time. Yale SOM Professors Will Goetzmann and Geert Rouwenhorst discuss how this novel financial device functioned and how it fits in the story of the development of more and more sophisticated securities.

  • Can we fix discrimination in markets?

    Studies and anecdotal evidence suggest that 40 years after the civil rights era, African Americans still find themselves under scrutiny in retail stores and women pay higher prices at car dealerships. How can we ensure fair treatment in markets?

  • Can markets change society?

    Professor Zhiwu Chen has been watching what’s happened as China adopts such financial instruments as mortgages and mutual funds. He was born in a rural village in China, and when he goes back, he says, he sees a country that’s being remade by markets.

  • A company in good standing?

    Could the market do more to improve ethical performance than professionalization? Professor Jim Baron proposes that voluntary certification of various facets of corporate responsibility could create a market for good behavior.

  • What happened to the accounting profession?

    For most of the twentieth century, accountants were organized into a self-governing profession, but that structure has been shaken over the last decade by a wave of scandals. Yale SOM professors Rick Antle and Shyam Sunder discuss the implications for management of accounting’s successes and failures as a profession.