Are women better decision makers? Forget the glass ceiling – think about the glass cliff.

  • Are Women Better Decision Makers? – “Credit Suisse examined almost 2,400 global corporations from 2005 to 2011 — including the years directly preceding and following the financial crisis — and found that large-cap companies with at least one woman on their boards outperformed comparable companies with all-male boards by 26 percent. … From 2005 to 2007, Credit Suisse also found, the stock performance of companies with women on their boards essentially matched performance of companies with all-male boards. Nothing lost, but much gained. If we want our organizations to make the best decisions, we need to notice who is deciding and how tightly they’re gritting their teeth.Unfortunately, what often happens is that women are asked to lead only during periods of intense stress. It’s called the glass cliff …”
  • No Consensus at Vatican as Synod Ends – “A closely watched Vatican assembly on the family ended on Saturday without consensus among the bishops in attendance on what to say about gays, and whether to give communion to divorced and remarried Catholics. … Pope Francis addressed the bishops in the final session, issuing a double-barreled warning against “hostile rigidity” by “so-called traditionalists,” but also cautioning “progressives” who would “bandage a wound before treating it.” The bishops responded with a four-minute standing ovation in the closed-door meeting, Vatican spokesmen said afterward.”
  • The Ebola Conspiracy Theories – “The spread of Ebola from western Africa to suburban Texas has brought with it another strain of contagion: conspiracy theories.”
  • Why Germany is so much better at training its workers
2014-10-20_clive james
  • Clive James: ‘I’d be lost without poetry’ – “Writer and broadcaster Clive James, who suffers from leukaemia and emphysema, has just had a new volume of essays published, called Poetry Notebook. In an interview with the BBC’s Andrew Marr, he explains why the book means so much to him and how it is hard to have a serious literary reputation if you are on television regularly.”
  • This Age of Derp – “derp … is a determined belief in some economic doctrine that is completely unmovable by evidence.”
  • Inflation Derp Abides
  • “Inflation derps” are people from the concrete steppes
  • Regret and economic decision-making – “Regret can shape preferences and thus is an important part of the decision-making process. This column presents new findings on the theoretical and behavioural implications of regret. Anticipated regret can act like a surrogate for risk aversion and could deter investment. However, once people have invested, they become attached to their investment. This commitment is higher with better past performance.”
Figure 1 plots a simple transformation of the value of the unemployment rate, measured on the left axis, and the real value of the S&P, measured on the right axis, in log units. This graph shows a clear correlation between these series and a more careful investigation reveals that this correlation is causal in the sense in which Clive Granger defined that term: there is information in the stock market that helps to predict the future unemployment rate.
Figure 1 plots a simple transformation of the value of the unemployment rate, measured on the left axis, and the real value of the S&P, measured on the right axis, in log units. This graph shows a clear correlation between these series and a more careful investigation reveals that this correlation is causal in the sense in which Clive Granger defined that term: there is information in the stock market that helps to predict the future unemployment rate.
  • Don’t Panic — Yet! – “Volatility has returned to the stock market and most of the gains of 2014 were wiped out in the last week. Is it time to panic? Not yet! … For a market panic to have real effects on Main Street it must be sustained for at least three months. And there is no sign that that is happening: Yet.”

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