If/Then

Stanford economics professor Mohammad Akbarpour challenges the conventional view that money is an objective measure of value. He argues that people value money differently based on their circumstances. By considering money's subjectivity, we can design more equitable markets that maximize value and welfare for more people.

Discover how emotions play a crucial role in decision-making process with insights from Professor Baba Shiv. Uncover the power of embracing artistic thinking and the impact of emotions on confidence in decision-making. Explore the blend of science and art in leadership for effective decision-making outcomes.

Immigrants’ contributions to America include culture, cuisine — and groundbreaking ideas. “No one is that surprised that immigrants play a disproportionate role in innovation,” says Rebecca Diamond, a professor of economics at Stanford Graduate School of Business. But, she notes, “Innovation in itself is an elusive thing to measure.” By studying patents, Diamond has revealed new insights into the important role immigrants play in fueling innovation. Diamond explains more in this episode of If/Then: Business, Leadership, Society.Today, foreign-born Americans make up around 10% of the population of the United States. Yet, as Diamond found in her research, immigrants are responsible for 24% of recent U.S. patents. What’s more, she explains, these immigrant inventors serve as catalysts for their native-born collaborators, pushing them to be more creative. Altogether, Diamond says, “You find that 36% of all innovation can be attributed to immigrants.”“That’s a big number,” Diamond says. This finding not only highlights immigrants’ outsize contribution to the U.S. economy but also provides a glimpse into the teamwork that generates new ideas. “The way to have successful innovation is not to just put smart people in a room by themselves and tell ’em to think hard,” she says. “It’s to collaborate and work together and create new ideas through the synergies of their knowledge.”Immigration is a contentious political issue. Diamond notes that “any policies that would limit or lower the number of immigrants coming to the U.S. for these super high-skill innovative jobs would have a large effect on future innovation.” As this episode of If/Then explores, for America to remain a source of new ideas that contribute to economic growth and technological progress, we’ve got to understand the vital link between immigration and innovation.Key Takeaways:Outsize impact: Immigrant inventors register more patents than native-born Americans. While only 10% of U.S. citizens are immigrants, immigrants are responsible for 24% of recent patents.The collaboration connection: Immigrants positively influence the productivity of their American collaborators.The global knowledge network: Immigrants are more likely to cite foreign patents and are more likely to be cited by patents produced abroad. More Resources:Rebecca Diamond is the Class of 1988 Professor of Economics at Stanford Graduate School of Business.A New Look at Immigrants’ Outsize Contribution to Innovation int he U.S. Voices of Stanford GSB faculty, Rebecca DiamondIf/Then is a podcast from Stanford Graduate School of Business that examines research findings that can help us navigate the complex issues we face in business, leadership, and society.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Professor Bill Barnett discusses the need for organizations to embrace crazy ideas to address complex issues like climate change. He emphasizes that failure is essential for innovation and encourages a culture that fosters unconventional and risky ideas. By promoting non-consensus thinking, organizations can create breakthroughs and solutions to big challenges.

Kuang Xu, associate professor of operations, information, and technology at Stanford Graduate School of Business, discusses the polarized reactions to AI and how it inhibits decision-making. When implemented strategically, AI can provide data for informed decisions. Leaders need to shift their mindset from fear to embracing AI's data-driven capabilities. The podcast explores emotions in AI decision-making, AI benefits for everyday tasks, limitations of AI, and the use of AI in decision-making processes.

Deborah H. Gruenfeld, a professor of organizational behavior, discusses the primal forces that drive our behavior and the formation of hierarchies. She emphasizes the need to understand these animal forces to modify existing power structures. The podcast explores strategies for overcoming power imbalances in the workplace and highlights the influence of power on self-regulation and behavior.

Jonathan Levav, Professor of marketing at Stanford Graduate School of Business, discusses his study on remote work and creativity. In-person brainstorming generated 15 to 20% more ideas compared to Zoom. Remote work may be the new normal, but we should consider the drawbacks for maintaining our creative edge. Managers should select 'in-office' days based on tasks that require collaboration and brainstorming.

How do we get people back to the office? How and when can AI be a powerful decision-making tool? How will digital currencies transform payment systems?On If/Then, experts from Stanford Graduate School of Business share their research findings on a range of topics that intersect with business, leadership, and society. We’ll tackle practical, cutting-edge insights that will help you manage better, lead more confidently, and understand pressing issues affecting our lives.Join GSB senior editor and host Kevin Cool as we hear about the latest research in technology, economics, marketing, politics, and several other areas that intersect with business. Season One drops with two episodes on January 24th and new episodes release every Wednesday.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.