No one of us can ever experience the Sliding Doors effect, says Pierpaolo Battigalli, Professor of Game Theory at Bocconi. Do you remember the movie with Gwyneth Paltrow living two different lives depending on whether she catches a train or not? At the end of the movie, each of us can evaluate which path was the best. In real life, though, when we make a decision, we only learn from the outcome of that decision, and we don’t know what could have happened if we had made another choice. Seen through the lens of game theory, this fact has important policymaking implications. Read more: https://www.knowledge.unibocconi.eu/notizia.php?idArt=24375
Cutting Pensions Is a False Economy
David Stuckler, Professor at Bocconi’s Department of Social and Political Sciences, has won an ERC Consolidator Grant from the European Research Council worth over €1.8m. Many governments across Europe are seeking ways to save money in the aftermath of COVID-19. Faced with ageing populations, some governments are trying to reduce pension spending, by increasing pensionable ages and reducing how much money retired persons actually get. But what if these budget cuts are worsening the health of older persons? Instead of saving money, what if they are simply dumping the costs onto the pension system?
Read more: https://www.knowledge.unibocconi.eu/notizia.php?idArt=24387
The Words that Bring Likes to Your Posts
Wordify, an online tool developed by the Data and Marketing Insights (DMI) Research Unit at Bocconi University, makes it easy to identify the words that delineate categories in textual data. It can be applied to any situation where you have a set of texts with labels associated with each of them and you want to know which terms best describe, or predict, each label. For instance, it helps discover the words most frequently used in a review associated with a particular rating.
Three Tips to Become the Netflix of the Physical World
The presence of variety-seeking customers in the targeted local market; recruiting vendors with a differentiated and only slightly overlapping offer; and alleviating price competition between platform and vendors, are key to the success of offline subscription platforms
If proprietary knowledge spills over to your competitors despite non-disclosure agreements and financial incentives, you could need an organizational climate change, according to research by Giada Di Stefano and Maria Rita Micheli.
Sometimes firms need an information shock to understand that the music is changing, as in the case of, well, music! When, on March 24, 2012, Billboard decided to include streaming in its rankings, consumption habits had been changing for at least a couple of years, without, however, labels showing changes in their competitive behavior. Only six months after the introduction of the new charts, their strategy started to adapt to the new reality, Paola Cillo (Bocconi), Gianmario Verona (Bocconi), and Paola Zanella (CUNEF) find in a study. In this video, Prof. Cillo comments on the results with Eleonora Bianchi, Head of Digital Services and Consumption at Universal Music Italia.
VIDEO Patent Information
Research by Tim Martens (Bocconi Department of Accounting) shows that retail investors are more sophisticated than commonly thought and they can make good use of complex information, such as patent information. Where such information is accessible, retail investors trade more on the stock exchange and obtain higher return.
In the world of big data, when there’s the need to estimate many parameters in very complex models making use of the large amount of available information, computation time becomes unsustainable. Several shortcuts have thus been experimented with in recent years, in the form of machine learning algorithms capable of speeding up the process. The evidence seems, however, to suggest that the results of these algorithms are not always reliable. Botond Szabo, Associate Professor at Bocconi Department of Decision Sciences, obtained a €1.5mln ERC Starting Grant for a project aimed at developing mathematical techniques capable of assessing the uncertainty inherent in the estimates derived from machine learning algorithms and, consequently, their reliability in context of statistical models.
Cryptography relies on computational asymmetry. It needs problems with an easy direction (the problem the “good guy”, i.e. the encryptor, must solve) and a hard one (the problem the “bad guy” should solve to decrypt information). “The kind of computational hardness we need for public-key cryptography is hard to come by, and in 45 years we only have found a handful of candidate hard problems,” says Professor Alon Rosen, who obtained a €2.49mln ERC Advanced Grant to try and find problems with such a computational asymmetry.
VIDEO Universal Education
Free and universal education is considered a major achievement and a crucial factor for economic development, but it continues to be anything but, well, universal. Mara Squicciarini obtained an ERC Starting Grant for a quantitative history project focusing on the topic
VIDEO Michelin Stars
New study by Giada Di Stefano, Saverio Dave Favaron, and Rodolphe Durand documents the changes in fine dining industry competitive dynamics when the Michelin Guide comes to town, introducing a new form of ranking
VIDEO Economics of Crime
The Endowed Chair in the Economic Analysis of Crime, held by Professor Paolo Pinotti, studies organized crime, corruption, the relation between crime and job markets, public spending, the political system, tax havens and much more. The Chair was funded by a private individual who chose to remain anonymous.
VIDEO Gender Stereotypes
Stereotypes held by parents and peers can influence boys and girls in what they decide to study, thus contributing to the underrepresentation of women among the graduates in STEM (Science, Technology, Engineering and Math) subjects, according to a study by Lucia Corno and Michela Carlana, two scholars affiliated to Bocconi’s Laboratory for Effective Anti-poverty Policies (LEAP).
VIDEO Shame and Poverty
In a recent paper, Adam Eric Greenberg (Bocconi University, Department of Marketing), Joe Gladstone (University of Colorado), Jon M. Jachimowicz (Harvard Business School), and Adam Galinsky (Columbia Business School) find that financial shame is a critical ingredient in the poverty trap, the vicious cycle whereby the experience of living in poverty makes it hard to escape.
VIDEO Inclusive Growth
No pathway toward inclusive growth is like any other, as countries enjoy specific growth profiles that allow them to reach the same goal in different ways, but research by Zachary Parolin (Bocconi) and Janet Gornick (City University of New York), just published in the American Sociological Review, found meaningful similarities across eight high-income countries. Shared features are the role of transfers in sustaining the low-income population, the role of taxes in moderating the rise of top-earners income, and the contribution of rising educational attainment to widespread, but less inclusive, growth.
Learn more: https://www.knowledge.unibocconi.eu/notizia.php?idArt=23391
VIDEO SUR Lab
If there is one sector that has not gone into crisis with COVID-19, it is sustainable urban regeneration. Large real estate operators have not announced any reduction in investments that promise to combine economic development and ecological transition.
Bocconi University has launched the Sustainable Urban Regeneration (SUR) Lab, which aims to study, analyze and promote the development of sustainable urban regeneration, with the contribution of four partners active in the sector: Hines, Intesa Sanpaolo, MilanoSesto e Prelios.
VIDEO Social Engagement
High-profile social media users, such as actors, popstars or athletes, compete on social media for user attention, that can translate into ticket sales for concerts or movies, a better contract, or lucrative product endorsements. This kind of competition, research by Gaia Rubera (Bocconi Department of Marketing) and Federico Rossi (Purdue University) published in Marketing Science found, follows its own rules and the ultimate winners could be the social media platforms the battle for attention is raging on.
VIDEO Water Consumption
Modelling irrigation water withdrawals as a function of irrigated areas alone yields almost the same results as much more complex and demanding methods, but in a much more parsimonious way. This parsimony allows for a more thorough uncertainty quantification and a more transparent estimate of one of the most important indicators of global water security.
In a paper recently published by Nature Communications, Bocconi Professor Emanuele Borgonovo and his coauthors Arnald Puy (Princeton and University of Bergen), Samuele Lo Piano (University of Reading), Simon A. Levin (Princeton), and Andrea Saltelli (Universitat Oberta de Catalunya) explain how to reach this goal.
Four Threats to European Banks in 2023
Andrea Resti describes the various occurrences that may impair Euro area lenders' sustainability in the near future
Monitor for Circular Fashion Launches Eight Pilot Tests
In the 2022 report of the observatory by SDA Bocconi School of Management and powered by Enel X, the analysis of sustainability indicators in the textile sector is applied to eight innovative prototypes made by partner companies. From organic cotton jeans to a tshirt that can be repaired, a bag that can be recycled, and a shoe that can be sewn at home
Cybersecuring a Country… with a Podcast
Greta Nasi hosts a series of talks about how modern states aim to protect individuals, firms and society against an invisible enemy
CAMBI Workshop: Computational Aspects and Modeling of Biological Information
CAMBI Workshop: Computational Aspects and Modeling of Biological Information
NICOLAS BRUNEL - Duke University
PAN ZHANG - Chinese Academy of Sciences
FRANCESCO ZAMPONI - Ecole Normale Superieure, Paris
LENKA ZDEBOROVA - EPFL, Lausanne
YASSER ROUDI - Norwegian University of Science and Technology, Trondheim
SIMONA COCCO - Ecole Normale Superieure, Paris
FRANCESCA BUFFA - Università Bocconi
PAOLO DE LOS RIOS - EPFL, Lausanne
REMI MONASSON - Ecole Normale Superieure, Paris
MARC MEZARD - Università Bocconi
ALEJANDRO LAGE CASTELLANO - University of Havana
GUIDO TIANA - University of Milan
ANNE FLORENCE BITBOL - EPFL, Lausanne
JOHN BARTON - University of Pittsburgh
SEBASTIAN GOLDT - SISSA Trieste
Aula N03 - Velodromo
Rachel Griffith: Soft Skills and the Wage Progression of Low-Skilled Workers
RACHEL GRIFFITH - University of Machester and IFS
Alberto Alesina Seminar Room 5.e4.sr04, floor 5, Via Roentgen 1
How Strong Are International Standards in Practice? Evidence from Cryptocurrency Transactions
KAREN NERSHI - Stanford
Room 2-E4-Sr03 - Via Roentgen, 1, II floor