This discussion features John Ioannidis, a Stanford professor renowned for his insights into medical research reliability. He delves into the ethical quandaries of medical honesty, questioning if it's justifiable for doctors to withhold information for a patient's benefit. They explore how trust in healthcare has been damaged, particularly during the pandemic, and emphasize the necessity of transparency and shared decision-making. The conversation also touches on the long-term effects of misinformation on vaccine hesitancy and why restoring public confidence is crucial.

Madhav Rajan, Dean of the Booth School of Business at the University of Chicago, brings valuable insights from his extensive background in business education. He discusses the shifting landscape of MBA programs, emphasizing the importance of rigorous education amid declining full-time enrollments. The need for experiential learning to meet market demands is highlighted, along with innovative ideas like modular degrees. Rajan also explores the evolving value of MBAs, the impact on alumni relationships, and how schools can adapt to modern educational trends.

Victor Davis Hanson, an Emeritus Professor of Classics and military historian, shares his insights on the rise and fall of societies. He delves into the cyclical nature of historical success and complacency, using the decline of Nokia as a modern analogy. The conversation highlights how specialization can lead to prosperity while increasing vulnerability. Hanson examines the paradox of wealthy societies neglecting external threats, and reflects on contemporary existential worries, from climate change to the moral dilemmas tied to modern affluence.

As we ring in the new year, we’re bringing back one of our favorite episodes! Handpicked by Jules and Jonathan, this previous conversation is perfect for starting your year with thought-provoking insights.Are CEOs overpaid? It’s easy to see million-dollar (or even billion-dollar) salaries and jump to conclusions. But those figures might not capture the full picture. So, what really goes into deciding CEO compensation? In this episode, hosts and finance professors Jonathan Berk and Jules van Binsbergen welcome back Dirk Jenter, Professor of Finance at the London School of Economics. Together, they debunk some common myths about how CEO compensation is set, explore the value that CEOs add to firms, and make the case for why CEOs could actually be paid more.  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.

Veronica Rappoport, an associate professor at the London School of Economics and former 2nd Deputy Governor of Argentina's Central Bank, shares insights from her experience during chronic inflation. She discusses why price caps, often proposed as a quick fix, can actually worsen inflation over time. Drawing from Argentina's history, she highlights structural fiscal issues and the pitfalls of government intervention. Amidst challenges, she notes a cautious optimism within Argentina as new political strategies emerge to tackle economic difficulties.

Should legacy admissions at colleges and universities be banned? What are the benefits and tradeoffs of admitting students based on their legacy status? In this episode, hosts and finance professors Jonathan Berk and Jules van Binsbergen speak with guest Patrick Awuah, president of Ashesi University, about the Ghanaian university’s unique economic engine and the place for legacy admissions in the higher ed world.  The conversation delves into how Ashesi University balances economic sustainability with educational inclusivity, the ethical and financial implications of legacy admissions, and tackles the controversial question, does admitting legacy students from wealthy families benefit the greater good of an institution?  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.

Celebrating their 50th milestone, the hosts reflect on critical mistakes in decision-making, emphasizing the dangers of oversimplified thinking. They delve into how informational advantages impact investment choices and explore the complexities of navigating financial regulations. The discussion highlights reputational challenges in higher education and the need for accountability in institutions. With insights from past guests, they critique the balance between truth-seeking and social aims, ultimately advocating for disciplined thinking and critical analysis.

If the purpose of a proxy advisory firm is to gather information and advise shareholders on how to vote, then how do the firms handle the many different goals and incentives each shareholder brings to the table? Where do the proxy advisory firms’ interests truly lie? In this episode, hosts and finance professors Jonathan Berk and Jules van Binsbergen speak with guest Chester Spatt, finance professor at Carnegie Mellon University and former Chief Economist at U.S. Securities and Exchange Commission, about the function and purpose of proxy advisory firms, such as Institutional Shareholder Services (ISS) and Glass Lewis. The conversation delves into the differing objectives and incentives among shareholders and how that complicates the work of a proxy advisory firm. They also discuss how and why proxy advisory firms may purposely foster close votes, and what could serve as better voting benchmarks. 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.

Join Jay Clayton, former chair of the U.S. Securities and Exchange Commission, as he sheds light on the complex world of financial regulation. He discusses how good intentions behind regulation can lead to unintended consequences and stifle innovation. Jay highlights the struggle regulators face in a politically charged environment and the impact of excessive rules on public firms. This conversation dives into the necessity for effective oversight while balancing competition and the importance of addressing core problems before seeking new solutions.

Dirk Jenter, a Professor of Finance at the London School of Economics, joins the hosts to tackle the controversial topic of CEO compensation. They challenge the perception that CEOs are overpaid, emphasizing the complex relationship between CEO salaries and the value they bring to firms. The discussion highlights how CEO transitions influence stock prices and the significant responsibilities these leaders bear. Real-world examples illustrate the nuances of assessing CEO effectiveness and the critical decisions they make that can impact company performance.