Nobel Prize-winning Yale economist Robert Shiller examines how the stories we tell about our lives and our society can spread from person to person, changing shared perceptions of events and shaping economic behavior.
We asked Yale SOM’s Nathan Novemsky, an expert in the psychology of judgment and decision-making, for his thoughts on how consumers are behaving during the COVID-19 pandemic and how they’re likely to view companies’ actions in the aftermath.
Yale SOM’s Taly Reich has conducted a series of studies exploring the surprising value of mistakes. In her latest paper, she and her co-author show that shoppers are more likely to purchase a product after reading a review that describes making a prior purchase mistake.
In an excerpt from his new book, Yale SOM’s Robert Shiller examines how the stock market rise of the 1920s, the crash of 1929, and the Great Depression that followed came to be seen as a tale of recklessness and divine punishment—and how that narrative still shapes our understanding of the stock market.
New research by Yale SOM’s Michael Kraus shows that people can accurately assess a stranger’s socioeconomic position based on brief speech patterns and that these snap perceptions influence hiring managers in ways that favor job applicants from higher social classes.