Kellogg School of Management at Northwestern University
Cheap Talk

Sun, Jun 11

Model Up

Everyone who has armchair-theorized why movie theaters don’t sell assigned seats in advance is now obligated to explain why this has changed and how that’s consistent with their model. I will start.  My theory was based on the value of... More →

Cheap Talk

Thu, Jun 8

Comey and Other Skeletons

The anticlimax that is/will be the Comey testimony proves something I have always thought about skeletons in the closet. They should be released early when not everyone is paying attention. The premise is that outrage is something that needs to... More →

Cheap Talk

Wed, May 17

The Long Game

Watch for the key leading indicator of impending Presidential downfall:  the Vice President going silent.  We will reach a point where the VP’s objective switches from defending the President to preserving his own viability as President.  Right around that turning... More →

Cheap Talk

Tue, May 9

Health Insurance And Flood Insurance

This paper by Finkelstein, Hendren, and Shepard finds that the uninsured have such a low willingness to pay for health insurance that they wouldn’t even cover the costs they impose on insurers: But for our entire in-sample distribution – which spans... More →

Cheap Talk

Fri, Apr 28

Strategic Ambiguity

Yesterday just before the start of a seminar I went to the thermostat to try to warm up the room.  The speaker saw me fiddling with it and nodded with approval.  I said nothing, turned up the heat and returned... More →

Cheap Talk

Wed, Apr 5

Politicians and Backward Induction

NYT on whether to filibuster Gorsuch now or wait: The substantive stakes now are relatively low: Judge Gorsuch appears to be very conservative, but so was Justice Scalia. Confirming Judge Gorsuch would merely preserve the ideological status quo on the... More →

Harry Kraemer

Sat, Mar 25

Values-Based Leadership in Action!

One thing I enjoy tremendously is seeing values-based leadership in action. Over the years I have had the opportunity to witness many such instances, and I frequently share these “Real World” examples with my students and executives who attend my leadership talks... More →

Cheap Talk

Mon, Mar 20

Meetings

A few weeks ago, I went to a meeting. There was a part of the meeting where some open-ended information was disseminated and very general comments were sought. Now, one possibility when you make a comment is that it leads to... More →