Posts Tagged Hassan Shirvani

Are Student Teaching Evaluations Reliable?

By Dr. Hassan Shirvani–Opinions vary widely on the worth of student evaluations of their teachers.  To some, they are useful tools for providing faculties with timely student feedbacks, for assisting students with their course selections, and for helping administrators with their personnel decisions.  To others, they are unreliable

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Cognitive Biases and Rational Behavior

By Dr. Hassan Shirvani—As you might have heard, the 2017 Nobel Prize in Economics was awarded to Richard Thaler for his pioneering work in the field of behavioral economics, a school of thought dedicated to the application of psychology to

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Are U.S. Stocks Expensive?

By Dr. Hassan Shirvani—-As U.S. stock prices reach new historic highs, many investors are now wondering if another stock market cycle of boom and bust is at hand.  Indeed, many financial advisors are already recommending a shifting away from stocks

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Making Management Research More Relevant

By Dr. Hassan Shirvani—Much of the recent management research deals with the presumed growing business competition, the increasing roles of entrepreneurship and technological progress in economic growth, the deepening appreciation of corporate social responsibility, and the rising importance of globalization.  As a matter of fact, however, there is considerable evidence that (1) businesses are becoming more concentrated and

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Advertising and Economics

By Dr. Hassan Shirvani–Advertising is an important feature of our daily economic life.  As we watch TV, listen to radio, read newspapers and magazines, and use social media, we are constantly bombarded with advertisements.  For this “privilege,” we are asked to pay some $325 billion per year, roughly

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Insight from Former Treasury Secretary Lawrence H. Summers: Global Perspectives Speaker

By Jeffrey Coburn—On September 27, 2016, the Federal Reserve of Dallas, Texas, held its Global Perspectives Speaker Series, featuring Former Treasury Secretary Lawrence H. Summers. I was interested in going to the event because I want to learn more about

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Psychology and Economics

By Dr. Hassan Shirvani—Among the collateral damages of the recent global economic crisis has been the reputation of the economics profession whose members famously failed to anticipate the financial tsunami that rocked the world. Enmeshed in their complex mathematical models with their highly unrealistic assumptions, most economists were seemingly as stunned by the suddenness and the severity of

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Schumpeter on Entrepreneurship

By Dr. Hassan Shirvani –Since the great Austrian economist Joseph Schumpeter (1883-1950) introduced the concept of entrepreneurship into economics almost a century ago, economists have struggled to systematically incorporate this concept into their models of economic development, with only limited

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A Mathematical Gem from Euler

By Dr. Hassan Shirvani–The Swiss mathematician Leonhard Euler (1707–1783) is widely considered as one of the greatest mathematicians who ever lived.  He made fundamental and path-breaking contributions to many areas of mathematics and physics.  In the following example, Euler displays

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A Critique of Behavioral Finance

By Dr. Hassan Shirvani—The recent global financial crisis has raised serious questions about the rationality of the securities markets.  In rational markets, prices tend to closely track their fundamental values, so that there is little or no chance of getting price bubbles.  During the run-up to the recent crisis,

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