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Specialization Spotlight: Marketing Research [#permalink]
FROM Madison(Wisconsin) Admissions Blog: Specialization Spotlight: Marketing Research
The Marketing Research specialization is supported by the A.C. Nielsen Center for Marketing Research, where business leaders are trained to be the voice of the consumer. Students are given the...
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Peru Global Trip [#permalink]
FROM Madison(Wisconsin) Admissions Blog: Peru Global Trip
It’s been a long time since I’ve traveled to South America. Almost ten years. I’m not sure why it worked out that way. I suppose I simply got caught in the life of a young adult....
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Application Tips: the Essays [#permalink]
FROM Madison(Wisconsin) Admissions Blog: Application Tips: the Essays
There’s still time for domestic applicants to apply for the Wisconsin MBA Class of 2021! To stay on track with the June 1, 2019 deadline, prospective students will have to work on a key...
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Faculty Faces: Maria Triana [#permalink]
FROM Madison(Wisconsin) Admissions Blog: Faculty Faces: Maria Triana
My experience in business began when I graduated with my BBA from The University of Texas at Austin.  From there, I earned my MBA at the University of Arizona, and I went on to a position as a...
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Distinguished Entrepreneurs Lunch Connects Students With Industry Expe [#permalink]
FROM Madison(Wisconsin) Admissions Blog: Distinguished Entrepreneurs Lunch Connects Students With Industry Experts
If you happened to pass by 5115 Grainger Hall at the Wisconsin School of Business on a Wednesday pre-COVID, you might have heard laughter and applause coming through the closed doors, the relaxed atmosphere belying the fact that some of the biggest names in the Madison startup community were speaking to a rapt audience about their successes and struggles along the road to entrepreneurship.

The Weinert Center for Entrepreneurship’s Distinguished Entrepreneurs Lunch (DEL) has moved online since the pandemic started, but that’s only made the event more popular than ever. Launched in Fall 2013, the lunch invites notable entrepreneurs—the majority of them WSB and University of Wisconsin–Madison alumni—to share their experience and expertise with students interested in entrepreneurship.

“By sharing their own entrepreneurial journey, the alumni do an amazing job both inspiring and educating the students,” says Weinert Center Director Daniel Olszewski. “The examples they share reinforce the concepts the students are learning in the classroom and it is incredibly impactful.”

The series runs during the fall and spring semesters of the academic year with approximately 10-12 lunches held each semester. The low-key format and opportunity for students to meet and ask questions of the speakers has been a success from the beginning, with attendance totaling nearly 3,000 in the past few years alone.

The idea for the luncheon series was the brainchild of Jon Eckhardt, the Pyle Bascom Professor in Business Leadership, an associate professor of management and human resources, and an affiliate faculty member with the Weinert Center. Eckhardt, who is also the founder and principal investigator of the Entrepreneurship Science Lab at the Wisconsin Institute of Discovery, wanted to give alumni the opportunity to get to know and engage with the center, and in turn, have others benefit from their vast knowledge and experience. Lisa Collins, associate director of the Weinert Center, implemented the idea, and together they brought in Joe Boucher (JD ’77, MBA ’78), a senior lecturer at WSB and attorney with deep roots in both the WSB and local entrepreneurship community. Boucher, who is also a board member in the  Weinert Applied Ventures in Entrepreneurship (WAVE) program, believed in the idea so much, his law firm, Neider & Boucher, S.C, became the event’s sponsor.

“DEL provides students and faculty at UW–Madison with an opportunity to learn from and build relationships with industry experts,” Eckhardt says. “The alumni and friends of the Weinert Center are people with deep expertise in corporate innovation, entrepreneurship, venture capital, and startup law—an excellent group to learn from.”

Creating pathways, forging relationships

The lunches have also yielded some real outcomes for those who have attended.

“Students have gotten internships, seed funding, and discovered co-founders from the discussions that take place at DEL,” Olszewski says. “It is exciting to know that a student’s entire career path could be altered because they choose to attend that day.”

Erin Tenderholt (BBA ’19) is one such DEL success story. Tenderholt met Tom Tefft (BBA ’82), a former Medronic executive and an executive-in-residence with WSB’s Nicholas Center for Corporate Finance and Investment Banking, at one of the lunches while still in school. Teft became her mentor and first investor in her needle disposal startup, Blexx Technology, upon graduation.

“Students have gotten internships, seed funding, and discovered co-founders from the discussions that take place at DEL,” Olszewski says. “It is exciting to know that a student’s entire career path could be altered because they choose to attend that day.”
Weinert Center Director Daniel Olszewski

The event has also generated internships. One of this past spring’s speakers, Robbie Reck (BBA ’06), founder of Kilbourn Marshall, called Collins the next day to let her know he’d hired one of the students as an intern.

The speakers represent a wide variety of areas and industries; over the past year, the lineup has included Steve Jacobson (BBA ’83) of Fairway Mortgage, Liza Elena Pitsirilos (BA ’04) of Mighty Peace Coffee, Adam Malka (BBA ’00) of Signature Tracks, and Johanna Wolfson (BS ’06) of Prime Impact Fund.

Building a culture of innovation

Boucher says sponsoring and being active in DEL stems from a desire to build an entrepreneurial community. DEL is a great starting point for young entrepreneurs to envision how they might play a role.

“We’re trying to create a culture of innovation… These innovators can be a business, an industry, they can be education, nonprofit—we don’t care. We’re trying to create an infraculture of participation in the future of the state.”

Boucher says DEL and events like WSB’s hosting of business competitions are pieces of the “matrix” of entrepreneurs and startups in Madison.

And on an individual level, he has a passion for entrepreneurship and seeing entrepreneurs, especially students, succeed.

“Part of the myth—maybe myth isn’t the right word—of entrepreneurship is this notion that it happens overnight, right? That you can come up with an idea, and boom, within months, you’re wealthy and successful—it’s just nuts. The Facebooks and all of these companies that are huge now, it took a long time. You need to hear from people who’ve struggled and have gone through it, what it takes, what it’s about. And is it worth it or not. We have a lot of success stories at UW.”

Entrepreneurs also need to be resilient, to cull through the inevitable advice they’re given, and to learn to accept failure.

Boucher says one of the draws of DEL is that it offers “real people with real stories. I think that’s a big deal, to make it personal. Because when you’re in an academic setting, everything is in the books, you’re reading case studies…This makes it real. Students tell me that they’ve enjoyed it. I’m thrilled that that’s true.”

The post Distinguished Entrepreneurs Lunch Connects Students With Industry Experts appeared first on Wisconsin School of Business.
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Ask an Expert: How Do Different Types of Goals Affect Employee Motivat [#permalink]
FROM Madison(Wisconsin) Admissions Blog: Ask an Expert: How Do Different Types of Goals Affect Employee Motivation?
Q: How can different types of goals affect employee motivation? What is the difference between priming subconscious goals and setting conscious goals? And why is this a potentially groundbreaking approach to employee motivation?

A: As employees repeatedly pursue a conscious goal in a similar context, they encode associations with the goal, environment, and behaviors. These associations gradually turn automatic in the subconscious. When the same environment is re-encountered, it primes the stored goal, which triggers behaviors that were associated with the goal in the past. This process—from priming to behavior—is automatic, unfolding without awareness of the context-goal-behavior associations.


WSB’s Alex Stajkovic

Pursuing conscious goals is considered one of the most effective work motivation techniques. But, unlike conscious goals, primed goals do not consume limited attentional resources. Heightened demand for information processing in contemporary organizations spotlights the need to reduce attention drain, making primed goals an appealing alternative approach to boosting work motivation. My latest research advances a new priming program of research in organizational behavior, searching for creative ways to mitigate escalating cognitive load without sacrificing performance.

For instance, we found a positive effect of primed goals on two performance measures over one week in a customer service company where employees were handling returns and complaints from Walmart customers. If primed goals produce effects similar to conscious goals but without draining attention, it would have ground-breaking implications for organizations. Why? Because the functional value of conscious goals is preserved, but the attention is saved, which can then be deployed where it is irreplaceable. Also, priming goals does not require any financial resources.

Current research focuses on the positive effects of primed goals, but future research needs to elucidate what happens when conscious and primed goals are in conflict. If employees face two conflicted conscious goals, they might ask for help. But, because primed goals operate below awareness, the downstream consequence in this scenario would be a state of undetected goal conflict and an inability to deliberately address it. This can cause behaviors inexplicable to self.

Alex Stajkovic is the M. Keith Weikel Distinguished Chair in Leadership and an associate professor in the Department of Management and Human Resources at the Wisconsin School of Business

Read the paper “Prime and Performance: Can a CEO Motivate Employees Without Their Awareness?” published in Journal of Business Psychology.

The post Ask an Expert: How Do Different Types of Goals Affect Employee Motivation? appeared first on Wisconsin School of Business.
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WSB Invests in Product Management and Marketing Technology Tracks, Pos [#permalink]
FROM Madison(Wisconsin) Admissions Blog: WSB Invests in Product Management and Marketing Technology Tracks, Positions Students To Address Complex Challenges Post-MBA
As the technology industry evolves at an ever-increasing pace, a new type of MBA is in demand. Employers and students alike have new expectations regarding education outcomes. Young professionals increasingly want to work in the tech industry, while employers want graduates with deeper analytical acumen.

The Wisconsin School of Business (WSB) at the University of Wisconsin–Madison is addressing these demands with new investments that will equip graduate students for a future in the technology industry. These investments include the launch of new career paths and two specializations within the full-time MBA program: a marketing specialization with tracks in technology product marketing and a technology strategy and product management specialization. New faculty members, new courses, and expanded advisory boards will support these shifts.

“The Wisconsin Full-Time MBA program has always prepared students to make an impact in their careers from day one with its specialization model,” says Vallabh Sambamurthy, Albert O. Nicholas Dean of WSB. “With these new specializations and career paths, we can further prepare graduates to address and anticipate emerging issues in business with a growth, innovation, and transformation mindset,” Sambamurthy adds.

Specialization model builds advanced knowledge for tech sector

Starting in September 2022, Wisconsin MBA students in technology strategy and product management will be able to pursue career paths in technology, health care, or consulting, while students in marketing can pursue paths in tech product marketing, marketing analytics and insights, or brand and marketing management. MBA students will now have more flexibility to explore career paths that directly match shifts across industries in the tech sector while expanding their general management knowledge.

These additions build on the program’s specialization model, which offers students the benefits of core management programming plus a deep dive into one of eight specializations. Applied learning and consulting projects are an essential part of the Wisconsin Full-Time MBA program. This model allows students to gain advanced knowledge and skills with real-world application, making them competitive professionals in their post-MBA careers.

Expertise in emerging fields prepares students

Faculty expertise is crucial to support this shift. WSB recently hired 11 new faculty members who will begin teaching in the 2021/2022 school year, building on the School’s long-standing reputation in marketing and other fields. Many of the new faculty members bring expertise in essential fields such as big-data analytics, online platforms, social media marketing, strategy, user-generated content creativity, human-bot collaboration, machine learning, algorithmic market research tools, neuroscience, and social influence.


Ishita Chakraborty, Assistant Professor

“I recognized the importance of quantifiable, data-driven insights in this age of big data early on in my career in industry. As a faculty member, I always wanted to make this process more scientific,” says Ishita Chakraborty, assistant professor of marketing. Chakraborty joined WSB from Yale in Fall 2021 and will teach social media marketing classes.

New roles in marketing and technology will need to be able to address emerging and complex problems. “To me, innovation means either finding novel solutions to existing problems or simplifying existing solutions. One of the challenges that we’ll discuss in my classes is privacy concerns related to our increasing reliance on big data and analytics,” notes Chakraborty. “As we learn to use machine learning and artificial intelligence to do better targeting and customer service, we have to be careful that these algorithms are fair and do not magnify existing social biases.”

Leaning on industry networks and guidance


Peter Commons, WSB Senior Lecturer

Instructors with real-world experience and connections to major companies also support these new investments, like Peter Commons, a global technology executive with over 20 years of experience working for companies like Amazon, Intuit, Zendesk, and Groupon. He joins WSB as a senior lecturer this fall. “Technology, from the internet and cloud computing to machine learning and big data, all running on ever-more robust hardware, is an increasingly powerful set of tools. But just because a tool can be used to solve a particular customer’s problem doesn’t mean it’s the right tool, or even the right problem.”

Effective product managers can play a leading role in driving solutions for companies and their customers, notes Commons, who will teach MBA students the functional and leadership skills they need to succeed in the tech sector. “Many companies, big and small, are making critical mistakes about what, why, and how they are building solutions because they are leading with technology thinking and not product thinking,” adds Commons.

Students are drawn to a growing sector where they can impact the industry on a large scale. WSB alum Rodrigo Stabio is a product marketing manager at Microsoft who moved into his role after graduating from the Wisconsin MBA Program in 2019. Stabio currently works on the Surface product line. “I love that I am working on tech that has the power to affect and empower the whole world,” says Stabio.


Rodrigo Stabio, MBA’19

Stabio recognizes that a growth mindset is imperative for a career in the tech sector, a trait that students will develop in WSB’s new MBA offerings. “We are in an ever-changing landscape; growth mindset is essential when you work in the tech industry. It’s important to stay up to date while looking for new ways to market and drive growth.”

The School will also lean on advisory boards of alumni and corporate partners that will help guide program development and mentor students into this evolving industry. These boards include representation from Microsoft, Adobe, Intuit, Amazon, Google, as well as consumer packaged goods and other companies. Incorporating feedback from employers and connecting students directly to tech companies, networks, and mentors is an essential part of this shift.

“We have always invested in building deep industry connections to support our areas of expertise,” says Enno Siemsen, associate dean of MBA and master’s programs and executive director of the Erdman Center for Operations and Technology Management. “Given the rapid pace of innovation in technology, we will look to these board members to guide program development and mentor students,” Siemsen adds.

Through WSB programs, students who are drawn to technology products, the complex challenges of big data, and leadership roles in business will have an opportunity to be on the cutting edge of marketing and technology issues.

Recruitment for the Wisconsin Full-Time MBA has started for admission in Fall 2022. To learn more about the program’s specialization model, please visit the Wisconsin Full-Time MBA or schedule a consultation with the MBA admissions team.

The post WSB Invests in Product Management and Marketing Technology Tracks, Positions Students To Address Complex Challenges Post-MBA appeared first on Wisconsin School of Business.
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Ask an Expert: Can Managers Increase Team Performance by Sharing Succe [#permalink]
FROM Madison(Wisconsin) Admissions Blog: Ask an Expert: Can Managers Increase Team Performance by Sharing Success?
Q: In sales terminology, an “average contract” is when an average of team members’ sales is used as a commission calculation for the entire sales force. Is this a motivating formula for managers when most employee teams include both weaker and stronger performers?

A: In my recent paper, “Increasing Team Performance by Sharing Success,” I study employees in the context of employee commissions and group-based commission plans—plans where the  individual employee commissions are partially tied to the group’s output and outcome. In this paper, we ask whether the historically used “average contract” that takes the average of team members’ sales outcomes for a payoff calculation is optimal in motivating a sales force. (A side note: my interest in the area of sales and group incentive takes its root from leading a donor-sponsored Sobic Sales Workshop within the Wisconsin School of Business for the past few years. Curiosity naturally led to interesting questions, which this paper is a byproduct of!)


WSB’s Kevin Chung

First, we show mathematically that the proposed maximum contract, where the team output is set by the largest individual output instead of the average output of team members, dominates the average contract in terms of effort provision when team members have varying levels of ability. The intuition behind this finding is this: even though setting the team output by the largest individual sales output demotivates the weaker team member, the boost in the stronger member’s motivation leads to increased effort that more than offsets the loss. The overall team effort is greater under the maximum contract compared to the average contract.

Next, we conducted two incentive-aligned laboratory experiments and two field experiments to validate our predictions of increased overall team effort, which confirmed our main theoretical predictions. We also found no difference in weaker team members’ efforts across contracts even though the theory predicts that the weaker team member will exert lower effort under the maximum contract than under the average contract, making the predicted benefit of the maximum contract conservative. We attribute this lack of demotivation to a behavioral bias borne from guilt aversion by the weaker member. Despite their lower ability, the weaker member may still feel guilty if their output is too far below that of the stronger member.

For managers, these findings have positive implications for firms: the maximum contract can significantly boost effort by the stronger team member without negatively affecting the productivity of the weaker team member. Thus our findings suggest that by understanding the psychological factors that impact the stakeholder decision process, managers can take advantage of these opportunities while enabling them to more accurately predict how the new strategies would work in the real world.

Q: How did you get interested in this area of research?

A: To those who know me, I am known for doing research in social influence processes, specifically in endorsement marketing—celebrity endorsements in the sports world, for example—and how behavioral biases can influence endorser behavior. Mainly, I try to understand how psychological factors could lead to systematic deviations from normative predictions based on the assumption that endorsers are rational decision makers.

However, in addition to the ever-expanding research in this space, I also have an emerging stream of research that looks at behavioral biases outside of endorsers where I seek to provide better explanations of why managers often make suboptimal choices and what firms can do moving forward. This most recent paper on team dynamics and team success stems from that avenue of research.

Kevin Chung is an assistant professor in the Department of Marketing at the Wisconsin School of Business

Read the paper “Increasing Team Performance by Sharing Success” published in Journal of Marketing Research.

The post Ask an Expert: Can Managers Increase Team Performance by Sharing Success? appeared first on Wisconsin School of Business.
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The New Minds of Business: 11 Forward-Thinking Faculty Join the Wiscon [#permalink]
FROM Madison(Wisconsin) Admissions Blog: The New Minds of Business: 11 Forward-Thinking Faculty Join the Wisconsin School of Business
In a business world that is grappling with what’s next, the Wisconsin School of Business at the University of Wisconsin–Madison is paving a path forward. Today, organizations have to be agile and team-focused. They need to optimize technology to meet demands, and they need people who can develop creative solutions to problems not yet realized.

To meet the challenges of today’s economy, WSB is investing heavily in its faculty and bringing in scholars and teachers with future-focused outlooks who are ready to shape the next wave of business research and grow the next generation of business leaders.

Roadmap 2025, which includes the goal to attract top-notch faculty talent across a diversity of fields, backgrounds, universities, and disciplines.

“I am thrilled to welcome such an impressive class of faculty to the Wisconsin School of Business,” says Vallabh “Samba” Sambamurthy, WSB’s Albert O. Nicholas Dean. “Each person is an excellent scholar and teacher, and I’m excited by the amount of new talent joining our learning community this year. Not only do we bring in researchers with in-demand expertise, but our new faculty’s knowledge in data science, marketing, technology, finance, and management will help us transform the curriculum of our undergraduate and graduate programs.” 

Meet the new minds joining the Wisconsin School of Business:

Operations and Information Management

Qinglai He: Examining Platform Creativity, Policy, and Human-Bot Collaboration 

Qinglai He’s research examines user-generated content creativity, human-bot collaboration in platform regulation, and platform policy and polarization. With a background in computer science and research on information visualization and visual analysis, she will be teaching business analytics at WSB. She received her PhD in information systems from Arizona State University and joins WSB as an assistant professor.

“My top interest lies in how AI and platform policy shape our online environment and society. This area is so fascinating to me because online platforms have become part of our lives and deeply influence how we think and behave.”
-Qinglai He

Emaad Manzoor: Understanding Online Behavior

Emaad Manzoor’s work is at the intersection of information systems and computer science. His research avenues include persuasion in text-based communication (such as text messages, email, instant messaging), machine learning, and online human behavior. Manzoor, recently recognized by the University of Chicago as a rising star in the field of data science, will be teaching business analytics as an assistant professor at WSB. He holds a PhD from Carnegie Mellon University. A self-professed “avid debater” since his college days, Manzoor says text-based communication has more influence than people might think.



“Text-based communication is the primary medium via which conspiracies, misinformation, and propaganda designed to polarize society spread. My research can help understand, quantify, and counter the persuasive power of such propaganda, and pave the way toward a more harmonious society at large.”
-Emaad Manzoor

Nicholas Petruzzi: Navigating Uncertainty in Operations and Supply Chain

Nicholas Petruzzi’s research explores the economic implications of uncertainty within the primary focus areas of operations and supply chain management. His work centers on a primary question: How can business—or society at large—optimize the value-add it provides to stakeholders from limited resources? Petruzzi brings a passion for learning that informs his teaching philosophy and process. He will join WSB in January 2022, coming from Penn State’s Smeal College of Business where he has served as both a professor and the department chair in supply chain management.

Marketing

Ishita Chakraborty: Mining Insights From the Digital World

Ishita Chakraborty studies the development of algorithmic market research tools to derive richer, more accurate, real-time insights from unstructured data. Her research interests include digital marketing, online platforms, text and video analytics, and mobile apps. Chakraborty holds a PhD in marketing from the Yale School of Management and joins WSB as an assistant professor.



“One of the challenges in our field is that as we rely more and more on big data and analytics to uncover customer preferences, we have to be mindful of privacy concerns. Moreover, while we want to use machine learning and AI to do better targeting and customer service, we have to be careful that these algorithms are fair and do not magnify existing social biases.”
-Ishita Chakraborty

Remi Daviet: Merging Neuroscience and Consumer Decisions

Remi Daviet’s research focuses on understanding and predicting consumer decisions using insights from neuroscience, cognitive science, psychology, genomics, and economics. His recent work explores how DNA data is used in microtargeting marketing strategies. Daviet joins WSB as an assistant professor after serving as a postdoctoral research fellow at The Wharton School of the University of Pennsylvania.



Aziza Jones (BBA ’13): Connecting Branding, Community, and Privacy

Aziza Jones’ researches branding, community, and privacy. She studies how others impact our consumption and how social identities influence decision-making. Her recent work examines parental buying habits and how parents will align themselves with certain products, brands, and people in attempts to help their children. An alumna of WSB, Jones is thrilled to return to her alma mater as an assistant professor after completing her PhD at Rutgers University.



“It’s incredible to be back. I’m so happy to be back at the Wisconsin School of Business to walk these halls in a different way, with a different energy, with a different ability to contribute to this institution and the university at large.”
-Aziza Jones

Management and Human Resources

Stav Atir: Exploring Pathways to Knowledge and Business Success

Stav Atir grew up in Tel Aviv, Israel, moved to the U.S. for her undergraduate degree, fell in love with psychology, and decided to pursue a PhD in it at Cornell University. Her research explores what we know—and what we don’t know. She explores why some people think they know things that they truly don’t know, and how knowledge or the lack thereof contributes to business success. Atir is looking forward to teaching courses on teams and negotiations, and giving students hands-on experience in these areas. Atir joins WSB as an assistant professor after serving as a postdoctoral research fellow at the University of Chicago Booth School of Business.



Chia-Jung Tsay: Examining How Psychological Processes Influence Performance

Chia-Jung Tsay joins WSB as an associate professor after nearly ten years on the faculty at the University College London School of Management. Tsay’s research looks at what factors influence how we perceive and evaluate performance. Her recent work on entrepreneurial pitches found that investors were more influenced by the “stage presence” or silent visual performance of the entrepreneurs’ presentations than the actual pitch content itself. She also investigates the role of perception, expertise, and nonconscious biases in professional selection and advancement. Tsay holds a PhD from Harvard Business School in organizational behavior and psychology as well as music. In 2021, she was named one of the world’s Best 40 Under 40 Business School Professors by Poets & Quants.

Victoria Zhang: Studying Social Networks’ Darker Side

Victoria Zhang’s research examines behavioral change, social networks, and norm violations. Zhang joins WSB as an assistant professor after receiving her PhD in organizations and management from Yale School of Management. A current stream of her work focuses on high-risk prescribing and the opioid epidemic, and how social networks have the power to promote or dampen norm-violating behavior such as overprescribing.



Accounting and Information Systems

Minjeong (MJ) Kim: Harnessing Impact Using Data Analytics and Accounting

Minjeong “MJ” Kim looks at how incentive systems affect executives’ behaviors. Her research illuminates how business leaders’ decisions impact the economy, environment, and welfare of others. Kim brings a future-focused tool set with expertise in data analytics. In her accounting courses, students will learn how to organize and visualize data, use Python and Tableau, and grow their abilities in data-based decision-making. Kim joins WSB as an assistant professor after completing her PhD at the University of Illinois–Urbana Champaign.



“By learning data analytics and having domain knowledge of accounting, you will have a competitive edge when you go out into the job market.”
– Minjeong “MJ” Kim

Finance, Investment, and Banking

Hengjie Ai: Top-Level Expertise in Finance and Economics 

Hengjie Ai is a financial economics and macroeconomics expert who researches asset pricing and the connection between volatility and asset returns. He has the rare distinction of having published repeatedly at the very top level in both economics and finance. Ai will lead the MS in financial economics—a joint degree program between WSB and the Department of Economics—and will teach derivatives in that program. Ai will join WSB in January 2022 as a full professor after serving as an associate professor at the University of Minnesota. 

This year’s new faculty members join the six who WSB hired in the 2020-21 academic year, adding to the School’s investment in forward-thinking teachers and scholars, and complementing the recent growth WSB has seen in its undergraduate and graduate enrollment.

“We are excited to move forward with these talented faculty members, whose commitment to research excellence and passion for inspired teaching and learning help make the Wisconsin School of Business a top-tier business school,” says Sambamurthy.

The post The New Minds of Business: 11 Forward-Thinking Faculty Join the Wisconsin School of Business appeared first on Wisconsin School of Business.
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Alumni Webinar Series: Having Challenging Conversations [#permalink]
FROM Madison(Wisconsin) Admissions Blog: Alumni Webinar Series: Having Challenging Conversations



The ability to navigate difficult conversations is a necessary skill in your work, community, and personal life. Being able to do it well is challenging, and sometimes we’d rather ignore certain conversations altogether. During this webinar, Harry Webne-Behrman explains why it’s important to have those discussions and provides tips and tricks to having meaningful, collaborative conversations.

Prepare yourself

The first thing to do when you know you must have a difficult conversation is prepare yourself. Get ready to listen to what the other person has to say, and focus on the underlying interests and needs. Webne-Behrman suggests taking a deep breath, centering yourself, and going into the conversation with an open mind.

Take one issue at a time

During the conversation, speak from your own experience and take one issue at a time. Break down the topic at hand so the other person isn’t overwhelmed. If the other person comes to the conversation rambling and bringing up too many topics, you have the right to slow it down. Clearly and kindly tell them you need a moment and to slow down. This is mutually beneficial to your conversation.

Generate several possible solutions

When you and another person are discussing issues, it’s beneficial to come up with multiple solutions. If you have multiple solutions to choose from, you can be more flexible and efficient in problem solving, and are more likely to see options when approaching a problem.

Clarify criteria

After coming up with multiple ideas to solve your problem, clarify what is important. Come up with a set of criteria that you will use to evaluate the fitness of a given solution. Does it benefit the most people, or does it cost the least? You may not have entered the conversation thinking through the same criteria, but it’s important that by the end you both agree what is best for your situation.

Stay flexible

The key to having a challenging but meaningful conversation is to stay flexible. Stay patient and calm while talking with the other person. It’s important to realize that there are solutions out there, and if you’re flexible and have a good attitude you should find one that works with your situation.

Harry Webne-Behrman served as senior partner of Collaborative Initiative, Inc., a private consulting and mediation firm based in Madison, Wisconsin, from 1991-2017.  Webne-Behrman has worked as a facilitator for hundreds of businesses, schools, community groups, and public agencies, leading large-scale deliberation and engagement processes, as well as mediating interpersonal disputes. Most recently, he served as founding director of UW–Madison’s HR Communities of Practice Office. In that capacity, he led development of an array of new learning communities and competency-based certification pathways that support professional development of human resources staff across the UW–Madison campus. Webne-Behrman received a BS in economics, an MS in higher education administration, and worked on doctoral studies in educational policy at the University of Wisconsin–Madison.

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How To: Suitable! [#permalink]
FROM Madison(Wisconsin) Admissions Blog: How To: Suitable!
What is it?

Suitable is a new App tailored to your Business Badger Experience! You’ll be able to track your engagement with general WSB events, leadership opportunities, and career pathways to ensure you are on track for success at the business school and beyond!

  • Complete achievements like Business Badger Badges
  • Follow your Career Forward pathway to reach your internship and job related goals
  • Stay informed about All WSB Events events to maximize your Business Badger Experience

Register now:

  • Download the Suitable app from your iOS or Android app store (or go to app.suitable.co)
  • Enter your student email address netID@wisc.edu
  • Press continue and login

Reminders

  • You must use your netID@wisc.edu student email to login
  • You must give the Suitable app access to your camera to scan event codes
  • Scan these QR codes to be taken directly to your app store



How to Use Suitable:

There are 3 platforms within the suitable app to help you stay organized and track your co-curricular experiences.

All WSB Events



This platform could be considered the “general calendar” for School of Business events geared towards undergraduates. Here are some navigation tips:

  • Click on Activities in the menu on the left
  • Use the Competencies filter to sort through types of upcoming events
  • NOTE: Some events listed are not open to everyone (e.g. “Business Connect”), so pay close attention to the descriptions of events.

Business Badger Badges



This platform will track all your leadership development activities that count towards one of our Business Badger Badges.  Here are some navigation tips:

  • Click on Achievements in the menu on the left to see all badge options
  • Click on each badge (Personal Leadership Styles, Group Dynamics, Inclusive Leadership) to see badge details and requirements.
  • Use each badge to navigate upcoming workshops & events so you can make your plans to complete any/all the badges you’d like!
  • Complete the badges to help you stand out among your peers and articulate your leadership skills to potential employers.
  • There is no set timeframe for completion – the app will save your progress from semester to semester.

Career Forward



This platform* will help you explore various career paths for each major so you can find your dream job and complete the steps necessary to set you up for success!

• Click on Achievements in the menu on the left to see all Career Pathway options
• Think of these pathways as specialized roadmaps to career success – the goal isn’t to complete them all, but rather to find a few pathways that interest you the most and follow those roadmaps during your entire Business Badger Experience.
Explore– your strengths and passions to find the right pathway for you
Prepare– follow the advice in the pathway to make sure you stay on track
Recruit– complete the steps you need to secure the internship(s) and job of your dreams
Transition– enhance the skills necessary to succeed in your first job and beyond

*Note: This platform is only available to enrolled BBA students

Submit WSB event to Suitable:  https://buswisc.qualtrics.com/jfe/form/SV_0Ol3u5VzEpxxm9E

Submit Student Org event to Suitable:  https://buswisc.qualtrics.com/jfe/form/SV_4UcJXK3MGEiL7bE

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What WSB Research Says About Buying a Home and Where You Live [#permalink]
FROM Madison(Wisconsin) Admissions Blog: What WSB Research Says About Buying a Home and Where You Live
For most of us, buying a home is the biggest single purchase we will ever make. It’s a decision that goes beyond just the hefty price tag: Where we live affects every aspect of our lives, from where our kids go to school, our sense of happiness and well-being, to our perceived ability to exit by selling when we are ready to move on.

Here are some excerpts from Wisconsin School of Business faculty research on home buying and the real estate market:

Don’t stop saving after the big purchase. You worked so hard to make your homeownership dream a reality. Now you can relax and loosen the spending reins. But a study on household mortgage debt by Abdullah Yavas, the Robert E. Wangard Real Estate Chair and a professor of real estate and urban land economics, found that households with a mortgage had higher spending rates than those without a mortgage, despite the fact that the first group had built-in “forced savings” in order to make that monthly mortgage payment. What might explain this? It’s because buying a home “puts an effective end to uncertainty,” says Yavas. “Drawing from the economics literature, we know that uncertainty is one of the primary drivers of savings. When you’re first thinking about buying a house, you’re cutting your consumption. You need to start putting some money aside, but there’s uncertainty because you don’t know the purchase price of the house you’ll ultimately buy, plus other fluctuations and circumstances may emerge before you actually have enough saved to buy.”

Reconsider the lure of bright lights, big city. Major cities can be exciting, vibrant places to live and call home, especially if you’re just starting out with a good salary and a promising career before you. After all, if you don’t live in a metropolitan area when you are young and relatively unencumbered, when will you? But you may want to take a clearheaded look at some of the mitigating factors first, such as housing and cost of living, commuting time to work, and whether you’ll really take advantage of the city’s job opportunities and amenities beyond showing around visiting family and friends. Yongheng Deng, a professor of real estate and urban land economics who actively works with the World Economic Forum and the UN Sustainable Development Solutions Network (SDSN), has studied housing affordability and the rise of the “superstar city”—cities like San Francisco, Manhattan, Singapore, and Shanghai—that are high in amenities but extremely low in affordability. While such metro areas may attract young professionals, they can’t necessarily keep them. “Cities need young people and young talent, but long commutes and sky-high prices are crowding out high-skill young talent,” Deng says of these “overheated” markets. “However, growing evidence around the world’s major cities shows that improved measurement of housing affordability and effective policy arrangements can help alleviate the unaffordability problem in superstar cities.”

Post-pandemic, America’s smaller cities may thrive. If your heart is set on urban living, smaller U.S. metro areas may be a solid choice. While COVID-19 has deeply impacted real estate, smaller cities may bounce back more quickly from the pandemic. Tim Riddiough, professor and chair of WSB’s Department of Real Estate and Urban Land Economics, says less densely populated cities like Dallas and Las Vegas may make a faster economic recovery than older cities with higher tax bases. Even with the pandemic ups and downs that Las Vegas’ casino economy has weathered, for example, the city may remain relatively healthy and continue to experience growth from new residents to the state, Riddiough says. “In ten years, it’s going to have a very different economy and a more diversified base than it has now.”

Great, but I need to sell my current home first. Maybe you’re ready for a change, but want to make sure you get the best possible sale price for your home. According to Alina Arefeva, assistant professor of real estate and urban land economics, creating a bidding war is the way to go. “In an auction format, a homeowner can facilitate a bidding war among prospective buyers, where competition among buyers increases the home’s selling price,” Arefeva says. “In a one-on-one bargaining format, the seller chooses a buyer randomly from among other interested buyers. Rents, incomes, and other fundamentals of the housing market obviously all matter, but my hypothesis was that these factors alone do not account for price fluctuation and volatility; increased competition via bidding might.” How does she know it really works? She sold her own home this way.

Read more faculty insights

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WSB Welcomes New Business Badgers [#permalink]
FROM Madison(Wisconsin) Admissions Blog: WSB Welcomes New Business Badgers
The Wisconsin School of Business at the University of Wisconsin–Madison celebrated its incoming undergraduate students with a special induction event held in Grainger Hall on Friday, September 3.

Students were welcomed by Vallabh “Samba” Sambamurthy, WSB’s Albert O. Nicholas Dean, as well as Jim Franzone, assistant dean of the undergraduate program, and Aishvi Shah (BBA ‘22), president of the Undergraduate Business Council.

This fall’s first-year class is the largest WSB has ever had. A growing percentage of new students are accepted through the direct admit process, which allows high school students to apply to WSB’s undergraduate program as part of their application to UW–Madison. As the undergraduate program continues to grow, so does the diversity of the student body: 26% of this year’s direct-admit students are from underrepresented populations—up from 8% just five years ago.

[img]https://business.wisc.edu/wp-content/uploads/2021/09/BBA_Welcome-Day_092021_Z72_7570_580x364.jpg[/img]
Dean Sambamurthy speaks to students in Grainger Hall’s West Atrium.

[img]https://business.wisc.edu/wp-content/uploads/2021/09/BBA_Welcome-Day_092021_Z72_7562_580x364.jpg[/img]
New Business Badgers share their excitement as they officially become WSB students.

[img]https://business.wisc.edu/wp-content/uploads/2021/09/BBA_Welcome-Day_092021_PLN0166_580x364.jpg[/img]

WSB’s Jim Franzone previews the exciting journey that lies ahead for new Business Badgers.

[img]https://business.wisc.edu/wp-content/uploads/2021/09/BBA_Welcome-Day_092021_Z72_7607_580x364.jpg[/img]

Dean Sambamurthy encourages students as they begin their time at WSB.

[img]https://business.wisc.edu/wp-content/uploads/2021/09/BBA_Welcome-Day_092021_Z72_7620_580x364.jpg[/img]

Aishvi Shah (BBA ‘22) of the Undergraduate Business Council welcomes her new student peers.


[img]https://business.wisc.edu/wp-content/uploads/2021/09/BBA_Welcome-Day_092021_Z72_7633_580x412-1.jpg[/img]

Dean Sambamurthy and new Business Badgers show their Wisconsin spirit.

The post [url=https://business.wisc.edu/news/wsb-welcomes-new-business-badgers/]WSB Welcomes New Business Badgers[/url] appeared first on [url=https://business.wisc.edu]Wisconsin School of Business[/url].
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In Memoriam: Former WSB Dean Robert Bock Leaves Legacy of Leadership [#permalink]
FROM Madison(Wisconsin) Admissions Blog: In Memoriam: Former WSB Dean Robert Bock Leaves Legacy of Leadership

The late Robert Bock advises Wisconsin MBA students in 1993. Photo by Jeff Miller / UW–Madison. UW Archives (#S11365)

Robert H. Bock, former dean and professor at the Wisconsin School of Business, passed away on August 31, 2021.

Bock was named dean in 1972, then the University of Wisconsin–Madison’s youngest appointed dean, at age 40. He came to the business school with many years’ experience in university administration, having served in faculty and leadership positions at Northwestern University, University of Puget Sound, and the University of Miami.

Bock served as dean for 12 years, leading the School to many significant milestones. During his tenure, the School’s undergraduate program broke into the top 10, the graduate program remained among the top 20, and the quality of scholarly research ranked fifth in the nation. He led the drive to incorporate business ethics into the School’s curriculum. In addition, several new faculty chair positions were created and an active alumni program was established under Bock’s leadership.  

After stepping down as dean, Bock returned to teaching and taught graduate courses in strategic planning, corporate ethics, and corporate social responsibility. He lectured widely at universities and corporations in the United States and Europe. He also worked with the State of Wisconsin Investment Board and UW Board of Regents on ethical issues in investing.

Bock’s legacy will live on at the Wisconsin School of Business in many ways. The Bock family is directing memorial gifts to WSB’s Diversity, Equity, and Inclusion Scholarship Fund, which supports undergraduate students from underrepresented backgrounds.

Read Bock’s full obituary.

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Meet the 2021-22 Wisconsin Business Alumni Board [#permalink]
FROM Madison(Wisconsin) Admissions Blog: Meet the 2021-22 Wisconsin Business Alumni Board
The Wisconsin Business Alumni (WBA) Board has added eight new members in 2021-22 as the group continues its mission of building and enhancing connections between the alumni community and the Wisconsin School of Business. Board leadership also changes as chair Taura Prosek (BBA ’93) and vice-chair Matthew Teichner (BBA ’09) begin their one-year terms.

“The board works in areas focused on engagement, lifelong learning, philanthropy, and more. We are a diverse group of alumni coming together around an aligned purpose to better serve our alumni community across the globe,” says Prosek.

The board provides national representation, with its 31 members hailing from nearly every region of the United States. Board members represent different ages, races, degrees, and career paths—ranging from entry level professionals to senior executives in industries as varied as technology, finance, and real estate.

The board fulfills much of its work by dividing into committees with specific goals. Two new committees formed this year include a committee to help inform a redesign of the biannual alumni publication Update magazine and a regional engagement committee. These committees join the already established philanthropy and board recruitment committees.

“I am very passionate about facilitating connections with people, helping the School achieve its strategic goals, and paying it forward to the generation of alumni to follow,” says Amy Jo Pedone (BBA ’96), one of eight new WBA Board members. “I hope to establish and implement new regional engagements to connect Business Badgers by partnering with local WAA Chapters.”

In addition to accomplishing important goals through committee work, board members participate in two in-person meetings and two conference calls during each year of their four-year term. As ambassadors for the School, board members also engage in many virtual and in-person events in an ongoing commitment to connect with WSB and fellow Business Badgers.

In addition to volunteering their time, board members understand the importance of financial support and commit to achieving 100% giving participation each year. Board membership is through application.

Recent accomplishments by the board include:

  • Procuring 102 peer-to-peer gifts totaling just under $10k during the 2021 Day of the Badger Campaign
  • Hosting virtual networking chats with alumni
  • Helping to build a lifelong learning framework for alumni
  • Providing valuable feedback on Roadmap 2025 strategies

The eight new board members contributing their unique leadership experiences to the WBA Board are:

  • Kelsey Breslau (BBA ’10), director of marketing, SAP America Inc., Middleton, Wisconsin
  • Alexandra Kirk (MBA ’17), development manager, Jamestown LP, Atlanta Georgia
  • Jenni Le (MBA ’20), managing director, gener8tor, Madison, Wisconsin
  • Adam Moskowitz (BBA’12), senior vice president, chief administrative officer, human resources, Wells Fargo, Clarksburg, Maryland
  • Amy Jo Pedone (BBA ’96), owner, master chocolatier, Valenza Chocolatier, Inc., Costa Mesa, California
  • Nathan Radue (MBA ’19), senior manager, project management, Wixon, Inc., Menomonie, Wisconsin
  • Eric Ruedinger (BBA ’04), general manager, anesthesia & respiratory care, GE Healthcare, Madison, Wisconsin
  • Anna Zhang (BBA ’17), assistant vice president, private equity, GIC, New York, New York

View the full roster of the 2021-22 Wisconsin Business Alumni Board.

The post Meet the 2021-22 Wisconsin Business Alumni Board appeared first on Wisconsin School of Business.
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Badger Executive Talks: Jim Wuthrich Navigates Disruption to Industry [#permalink]
FROM Madison(Wisconsin) Admissions Blog: Badger Executive Talks: Jim Wuthrich Navigates Disruption to Industry Success



If Jim Wuthrich (BBA ’86) wrote a book on leadership, he’d have an easy time coming up with the title. He figures Finding the Waves, a sort-of surfing metaphor, would do the trick nicely because of the way he has been able to sense what’s coming next and move with it.

“It’s not just one wave, you have to go from one wave to another to another to be successful,” says Wuthrich, president of content distribution at WarnerMedia.

A less metaphorical term would also sum up Wuthrich’s career: disruption. He has had to ride those waves for a reason, as massive changes have come at every step of his career. Wuthrich has seen content and home entertainment evolve from CD-ROM to DVD to streaming—and those are only some of the changes he’s witnessed.

Wuthrich, speaking from his office overlooking the legendary Warner Bros. Studios lot in Burbank, California, talked about navigating disruption during a recent Badger Executive Talk, a virtual speaker series featuring executives from the UW–Madison alumni community. Vallabh “Samba” Sambamurthy, Albert O. Nicholas Dean of the Wisconsin School of Business, led the conversation and fielded questions from alumni.

“I’ve had disruption at the center of everything I’ve been doing,” Wuthrich says. “For all of its unease, I think I like it because I keep coming back to it.”

With Dean Sambamurthy, Wuthrich shared how disruption has defined his career, and also gave some insights about the entertainment industry today.

Innovation from the start. Wuthrich began his career at Hallmark Cards. He was part of a then-new unit in the company called Shoebox Greetings, which was created in response to competition from companies that made irreverent and less-traditional cards. The new line might have been seen as competing with Hallmark’s core business of traditional cards, but Shoebox cards are now a staple of the company. “That was my first touch of a disruptive world,” he says.

Disruption will challenge a company from within. Companies don’t have a good track record with disruption, Wuthrich says, because it’s hard to do and it challenges the company’s core business. A good manager, recognizes that innovation within a company can create “haves” and the “have nots”—those who are generating revenue with the core business and those who are working on “the new sexy thing.” It’s important to protect the team that is innovating, Wuthrich says. “Someone high in the organization has to be looking out for them,” he says. “Ultimately you want them to be successful in what they’re doing.”

Find the story in the data. While data has the power to transform any industry and is doing so with entertainment, it needs to be used in the right way. “You can have all the data in the world but it doesn’t matter if you don’t have the business question you are trying to solve for,” Wuthrich says. While he uses data to understand details such as timing or price point, Wuthrich says the power of data has come in understanding the customers. “[Entertainment] has gone from a mass medium to a one-to-one medium,” he says. “It’s about understanding the individual and how they react to the content. That’s where data fits in.”

Be entrepreneurial with your career. Wuthrich stayed alert to innovation and followed his own interests. “It’s not a career ladder, it’s more like a jungle gym and you have to move around on it,” he says. Wuthrich left Hallmark for a startup that worked with the then-new CD-ROM technology. As the internet was making that technology obsolete, he recognized how DVDs were going to transform the movie industry. He leveraged his tech experience to get a job at Warner Bros. as a product manager for DVDs, taking a pay cut to do so.

Build an internal network. While DVDs were dominating the entertainment market, Wuthrich was already seeing the potential for digital distribution. In 2006 he became vice president of digital distribution at Warner Bros. “I wasn’t the natural pick to go into that role but because I had built a good reputation within the organization I had a lot of advocates who would work on my behalf,” he says.

The Badger Executive Talks series will continue on Nov. 10, featuring Laura Francis (BBA ’88), CEO of SI-BONE. WSB’s Alumni Events page features more information about the talks and links to view past conversations.

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Heat and Risky Behaviors: How High Temperatures Increase Violence in P [#permalink]
FROM Madison(Wisconsin) Admissions Blog: Heat and Risky Behaviors: How High Temperatures Increase Violence in Prison
Many U.S. prisons lack air conditioning, even in regions of the country where warm temperatures year-round are the norm. Not only are such conditions uncomfortable and potentially unhealthy for inmates with chronic health issues, they may also be dangerous. A new study finds that violence among prisoners increases as outdoor temperatures rise.

Anita Mukherjee, assistant professor of risk and insurance at the Wisconsin School of Business, and Nicholas Sanders of Cornell University and the National Bureau of Economic Research found that daily temperatures reaching an average of 80 degrees Fahrenheit (F) were linked with a 20% increase in daily violent interactions among inmates and an 18% increase in the likelihood of violence overall. Note that such days averaging 80 F over the 24-hour period are much hotter than one might expect, as the average includes daytime highs and nighttime lows. The authors show that such days feature daytime temperatures that regularly exceed 95 F, and that the majority of such days produce unsafe heat index levels when also considering humidity. 


Assistant Professor Anita Mukherjee

Using data from the Mississippi Department of Corrections from 2004 through 2010, Mukherjee and Sanders looked at inmate regulation violations from across the system’s 36 facilities. They also examined daily temperature information from PRISM climate data and the National Oceanic and Atmospheric Administration. The findings suggested a relationship between hotter weather outside and an uptick in violent incidents occurring within the non-climate-controlled facilities.

“We found a causal link between what we term in the study as ‘intense heat’ and ‘intense violence,’” Mukherjee says. “Based on our findings, this combination generates an additional 44 cases of intense violence per year in Mississippi’s correctional system. That means that for every day that reaches 80 degrees Fahrenheit or higher—and that’s an average, because it’s factoring in daytime temps that can be well above 90 degrees—there’s an increase in both the total number of violent incidents that occur as well as greater odds overall of violence happening.”

Mukherjee and Sanders’ study is a unique departure from the existing literature on heat and violence due to its design. Unlike previous studies in the field, the absence of differentiators that allow mitigation against heat’s effects (avoidance behavior, mitigation, reporting bias, and income effects) are absent. For example, the study’s subject pool, inmates, are prohibited from leaving the facilities on hot days, and none of the buildings included in the study has across-the-board air conditioning. During periods of intense heat, guards are required to work within the same non-climate-controlled facilities that inmates are subject to, therefore lessening reporting bias on inside crimes and violent incidents (and other inmates who are possible witnesses to these incidents are there, too). The study’s setup in relation to income is also an important differentiator, as previous studies have examined income, conflict, and climate. In this case, income effects do not come into play as they might in other studies, given that inmates generally have little income and few opportunities to work.

While the issue of excessive heat and incarceration is a constitutional one under the Eighth Amendment, states have some leeway in regulating temperature control. Mukherjee and Sanders cite 2019 data from the Prison Policy Initiative that lists 13 hot-weather states including Mississippi that do not have across-the-board air conditioning in their correctional faciltites. Part of the problem stems from aging infrastructure: older buildings are costlier to update and outfit with climate control capabilities. But increased levels of violence among the incarcerated can lead to recidivism—new sentencing for repeat offenders and longer stays in the system, ultimately costing the state more money to house prisoners than it would have originally.

The study results also suggest some mapping of the placement of correctional institutions and incarcerated populations may be beneficial given the increasingly hotter temperatures in the U.S. Facilities lacking air conditioning on the East Coast, for example, are not as acclimated to warmer temperatures as correctional systems in the South, and therefore may experience more adverse effects than their counterparts in other parts of the country. Ironically, there is some tradeoff in investing in air conditioning which itself is a major contributor to global warming–but the return to doing so in correctional facilities, which already have a high baseline of violence, is surely valuable.

The study also holds some important implications regarding the relationship between violence and a warming earth. The general finding that heat causes violence, echoing an extant literature finding this relationship in other settings, points to larger implications for much of the world’s population that is set to experience hotter temperatures with limited access to cool their environments.  Violence is devastating to victims, their families, and to society. Considering the impact that heat can generate on this outcome is useful for assessing investments in technologies that limit global warming or help cool our environments efficiently.

Read the working paper: “The Causal Effect of Heat on Violence: Social Implications of Unmitigated Heat Among the Incarcerated

Anita Mukherjee is an assistant professor in the Department of Risk and Insurance at the Wisconsin School of Business.

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Heat and Risky Behaviors: How High Temperatures Increase Violence in P [#permalink]
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