All Else Equal: Making Better Decisions

The Lauder Institute
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Join Stanford GSB finance professor Jonathan Berk and Jules van Binsbergen of The Wharton School in a conversation with prominent business leaders about common flaws in the decision making process and what to do about them. Learn more at AllElseEqualPodcast.com.All Else Equal: Making Better Decisions Podcast is a production of Stanford Graduate School of Business and is produced by University FM.

  1. 4 dgn geleden

    Ep78 “What’s Wrong With Taxing Billionaires More?” with Joshua Rauh

    A proposed constitutional amendment on the ballots in California this November will impose a one-time 5% wealth tax on billionaires. Proponents of the amendment say it will bring upwards of $100 billion to California’s revenue, but how did they get to that number and what other side effects of this wealth tax could be looming in the wings? Will this tax actually raise more revenue?  Hosts and finance professors Jonathan Berk and Jules van Binsbergen sit down with Stanford finance professor Joshua Rauh to discuss why wealth taxes don’t often achieve their desired result.   The conversation covers the Laffer curve, behavioral responses to tax increases, and the economic side effects of cultivating a society that does not celebrate innovative talent.  Find All Else Equal on the web:  https://lauder.wharton.upenn.edu/allelse/ All Else Equal: Making Better Decisions Podcast is a production of the UPenn Wharton Lauder Institute through University FM. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

    36 min.
  2. Rerun: Ep65 "Will Future AI Systems Operate Like The Human Brain? It’s Complicated” with Jeff Hawkins

    3 jun

    Rerun: Ep65 "Will Future AI Systems Operate Like The Human Brain? It’s Complicated” with Jeff Hawkins

    This episode originally aired previously and is being re-shared due to its continued relevance. Enjoy this conversation with Jeff Hawkins on intelligence, neuroscience, and the future of AI. With growing concerns over whether or not AI will take away jobs and eventually become superior to human intelligence, maybe it’s time to take a closer look at the human brain and discover how AI will always have its limitations.  Hosts and finance professors Jonathan Berk and Jules van Binsbergen sit down with Jeff Hawkins, a neuroscientist and computer scientist, whose book A Thousand Brains challenges the way we think about intelligence and how the brain works.  Jonathan, Jules, and Jeff discuss the fundamentals of how the human brain operates and how it differs from the way current AI models work. They also dive into the cutting-edge innovations happening in the world of AI and whether future versions of the technology could one day emulate the human brain more closely.    Find All Else Equal on the web:  https://lauder.wharton.upenn.edu/allelse/ All Else Equal: Making Better Decisions Podcast is a production of the UPenn Wharton Lauder Institute through University FM. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

    33 min.
  3. Ep77 The Academic Journal System is Broken, Here’s How to Fix It

    13 mei

    Ep77 The Academic Journal System is Broken, Here’s How to Fix It

    How should academic discourse take place? Is it time to update the antiquated journal system?  In the season finale, hosts and finance professors Jonathan Berk and Jules van Binsbergen tackle the problems present in the current system for disseminating academic research, including how digital distribution has eliminated effective curation while peer review remains slow, incentive-misaligned, and dominated by anonymous referees seeking to impress editors. Together, they explain the inner-workings of the academic journal system and the problems with peer review. Jonathan also shares details about his new website, launched with fellow researchers, that provides a place for rigorous informed discourse.  Find All Else Equal on the web:  https://lauder.wharton.upenn.edu/allelse/ All Else Equal: Making Better Decisions Podcast is a production of the UPenn Wharton Lauder Institute through University FM. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

    29 min.
  4. Rerun: Ep46 "May Contain Lies" with Alex Edmans

    29 apr

    Rerun: Ep46 "May Contain Lies" with Alex Edmans

    This week, we’re revisiting our ever-timely and fascinating conversation around misinformation with London Business School professor Alex Edmans. All Else Equal will be back with a new episode in two weeks.  What is the real problem with misinformation? Are our biases so ingrained in us that we are unable to think critically about the world and the systems around us? What happens when large institutions attempt to push a heterodox narrative? Do we simply need more education to overcome misinformation, or do we need something much deeper—to learn to think critically again? In this episode, hosts and finance professors Jonathan Berk and Jules van Binsbergen welcome Alex Edmans, Professor of Finance at London Business School to discuss his latest book, May Contain Lies: How Stories, Statistics, and Studies Exploit Our Biases – And What We Can Do About It.   Find All Else Equal on the web:  https://lauder.wharton.upenn.edu/allelse/ All Else Equal: Making Better Decisions Podcast is a production of the UPenn Wharton Lauder Institute through University FM. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

    29 min.
  5. Ep76 “How Should You Deal with Uncertainty in Today's World?” with Nick Bloom

    15 apr

    Ep76 “How Should You Deal with Uncertainty in Today's World?” with Nick Bloom

    What do measures of uncertainty tell us about the state of the economy and how should firms and households use those measurements to inform decision-making? Hosts and finance professors Jonathan Berk and Jules van Binsbergen are joined by returning guest Nick Bloom, professor of economics at Stanford University, whose research on the causes and consequences of uncertainty helped build the Economic Policy Uncertainty Index. In the discussion, they cover the various ways to measure uncertainty including the VIX and text-based methods, Bloom explains how the Economic Policy Uncertainty Index works, why discrepancies can sometimes exist between uncertainty measurements, and how these uncertainty indices can help inform better business decision-making.   Find All Else Equal on the web:  https://lauder.wharton.upenn.edu/allelse/ All Else Equal: Making Better Decisions Podcast is a production of the UPenn Wharton Lauder Institute through University FM. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

    34 min.
  6. Ep75 The Misleading Truth Behind IRR

    2 apr

    Ep75 The Misleading Truth Behind IRR

    Despite it being widely taught in business schools and practiced in the industry, you should think twice before using the internal rate of return as a criteria for making an investment decision. Hosts and finance professors Jonathan Berk and Jules van Binsbergen are back to discuss why using the internal rate of return (IRR) as an investment decision rule is fundamentally flawed compared with the net present value (NPV). They outline IRR’s problems including multiple or nonexistent solutions, failure to account for scale and timing, and structural vulnerability once financing/payment plans are allowed, enabling arbitrary or inflated IRRs.    Find All Else Equal on the web:  https://lauder.wharton.upenn.edu/allelse/ All Else Equal: Making Better Decisions Podcast is a production of the UPenn Wharton Lauder Institute through University FM. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

    26 min.
  7. Ep74 Is The Financial Sector Good for Society?

    18 mrt

    Ep74 Is The Financial Sector Good for Society?

    What value does a financial sector add to society? How would society function without a financial sector?  In this episode, hosts and finance professors Jonathan Berk and Jules van Binsbergen make the case that a competitive market financial sector is crucial to economic growth and the betterment of society.  Jonathan and Jules contend with the critiques they hear most often when it comes to free markets, breaking down the core purpose of a financial sector and why its value is not easily observable or necessarily fair. They also compare and contrast other financial systems, like command-and-control, and explain why those systems tend to fail.     Find All Else Equal on the web:  https://lauder.wharton.upenn.edu/allelse/ All Else Equal: Making Better Decisions Podcast is a production of the UPenn Wharton Lauder Institute through University FM. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

    19 min.
  8. Rerun: Ep29 “How Do You Become CEO?” with Dirk Jenter

    4 mrt

    Rerun: Ep29 “How Do You Become CEO?” with Dirk Jenter

    All Else Equal is on Spring Break this week, so we’re revisiting one of our most popular episodes dealing with the question: How does one become a CEO? We’ll be back with new episodes in two weeks.  A lot has been written and said about CEOs and their compensation, but who are they really and how did they get there? According to the data, what are the most likely paths to become one? In this episode, hosts and finance professors Jonathan Berk and Jules van Binsbergen are joined by Dirk Jenter, Professor of Finance at the London School of Economics, for a fascinating discussion of CEOs, including the surprising truths about who rises to the rank of CEO and from where, as well as exploring the issue of CEO pay, and how it could be justified.    Find All Else Equal on the web:  https://lauder.wharton.upenn.edu/allelse/ All Else Equal: Making Better Decisions Podcast is a production of the UPenn Wharton Lauder Institute through University FM. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

    34 min.
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Join Stanford GSB finance professor Jonathan Berk and Jules van Binsbergen of The Wharton School in a conversation with prominent business leaders about common flaws in the decision making process and what to do about them. Learn more at AllElseEqualPodcast.com.All Else Equal: Making Better Decisions Podcast is a production of Stanford Graduate School of Business and is produced by University FM.

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