Chicago Booth Review Podcast

Join John Paul Rollert from Chicago Booth as he explores the delicate dance of customer service. He discusses the real-world implications of the phrase 'the customer is always right,' highlighting the struggles retail workers face with unreasonable patrons. Rollert dives into the ethics of return policies, using LL Bean as a case study to illustrate the balance between satisfying customers and maintaining sustainable business practices. Prepare for a thought-provoking take on customer dynamics!

George Wu, an expert from Chicago Booth on workplace dynamics, delves into the intriguing dilemma of accepting promotions without a pay raise. He tackles the emotional impact and fairness issues surrounding career progression. The discussion sheds light on the unique challenges women face in salary negotiations. Wu also explores how professionals evaluate pay-free promotions, revealing why many choose acceptance over rejection. Insights into negotiation tactics and the importance of open communication regarding future compensation round out this engaging conversation.

Jean Pierre Dube, a specialist from Chicago Booth, delves into the world of hidden fees and their effects on consumer behavior. He discusses how these tactics manipulate pricing transparency and consumer trust, particularly in retail and ticket sales. The conversation highlights the psychological strategies companies use to conceal true costs until the last moment. Dube also addresses the ethical implications of such practices and explores potential solutions for improving transparency in pricing for consumers.

Matt Notowidigdo, a healthcare finance and policy expert from Chicago Booth, discusses critical issues in the US healthcare system. He highlights the stark contrast in spending compared to other wealthy nations and the lack of universal coverage. The conversation dives into the complexities of healthcare quality assessment, the role of private insurance in enhancing health outcomes, and the intricacies of price transparency. Notowidigdo also addresses the challenges aspiring doctors face and innovative financial incentives like bundled payments that could transform patient care.

Andrew Leon Hanna, an author and adjunct assistant professor, dives into the global refugee crisis and highlights the inspiring stories of refugee entrepreneurs. He discusses the staggering numbers of displaced people and the challenges they face, particularly in accessing financial support. Hanna emphasizes the need for policy changes to recognize refugees as vital economic contributors, showcasing examples of successful initiatives like Kiva's zero-interest loans. The conversation urges a shift in narrative toward compassion and recognition of the positive impact refugees have on communities.

George Wu analyzes workplace scenarios where coworkers discover pay discrepancies. Topics include salary negotiation, fairness, addressing salary gaps, navigating feedback, and pitfalls of fine-tuning responses. Delve into the complexities of human behavior and generating hypotheses in challenging workplace scenarios.

Why is being frugal a virtue? And where exactly do we draw the line between being “frugal” and being “cheap”? In this episode, Chicago Booth’s John Paul Rollert traces the history of frugality from the 18th century to today, explaining why it continues to be relevant as a moral yardstick.

Many of us face snap decisions in which two of our core values come into conflict. We could get promoted, but only by spending less time with family, or be successful in the short term, but at the expense of long-term sustainability. Chicago Booth’s Lucia Annunzio calls these difficult decisions leadership “moments of truth,” and she advises executives that if they don’t have a plan on how they will make such decisions ahead of time, they might ending up regretting their choices.

In the US, 13 percent of refugees become entrepreneurs, compared to 9 percent of Americans born in the US. In this episode we hear from Andrew Leon Hanna, a Chicago Booth Adjunct Assistant Professor whose book 25 Million Sparks: The Untold Story of Refugee Entrepreneurs tells the stories of some refugees who started their own ventures. In the first of two podcasts about the book, he explained why he thinks refugees are so much more likely to become entrepreneurs.

Many of us think that our workplaces are not fair. Managers favor some employees over others, or give some people credit that’s due to someone else. Chicago Booth’s Lucia Annunzio warns that that can lead to resentment and even acts of sabotage. So how important is fairness, and how can you create an environment where people respect and understand decisions, even if they don’t like or agree with them?