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When faced with debt across multiple credit cards, do people pay down their balances in a way that makes financial sense? On February 1, BFI hosted Chicago Booth Professor Neale Mahoney for a Friedman Forum luncheon lecture on his recent working paper, “How Do Individuals Repay Their Debt? The Balance-Matching Heuristic.” In the paper, Professor Mahoney and his colleagues examine how credit card holders in the United Kingdom divide their payments between credit card balances. Instead of paying down the card with the highest interest rate first, the authors find people make payments based on the size of the balances on each credit card. These findings reveal the large gap between the optimal way to repay debt, and reality of how people repay their credit card debt.
Panel discussion.
Panel discussion.
If you experience any technical difficulties with this video or would like to make an accessibility-related request, please send a message to digicomm@uchicago.edu. Economic growth depends critically on access to reliable energy. However in much of the world, access to energy remains low and supply is often unreliable. At the same time, the world’s energy choices are leading to levels of pollution that are substantially shortening people’s lives and causing climate change. The energy and growth challenge requires identifying solutions to these problems of access to inexpensive and reliable energy, while limiting environmental damage and guarding against disruptive climate change. In this Friedman Forum talk, Michael Greenstone explores key energy trends and outlines both the market and technology forces at play to meet this challenge.
If you experience any technical difficulties with this video or would like to make an accessibility-related request, please send a message to digicomm@uchicago.edu. Delivering the first Friedman Forum of the 2015–16 academic year, Hugo F. Sonnenschein lectured University of Chicago undergraduates on John Nash’s work on game theory, which included theories of bargaining.
If you experience any technical difficulties with this video or would like to make an accessibility-related request, please send a message to digicomm@uchicago.edu. Delivering the first Friedman Forum of the 2015–16 academic year, Hugo F. Sonnenschein lectured University of Chicago undergraduates on John Nash’s work on game theory, which included theories of bargaining.
If you experience any technical difficulties with this video or would like to make an accessibility-related request, please send a message to digicomm@uchicago.edu. In this Friedman Forum, Becker Friedman Institute Distinguished Fellow Pierre-André Chiappori debunks the myth that the euro crisis is a debt problem, the worst of which is behind us.
If you experience any technical difficulties with this video or would like to make an accessibility-related request, please send a message to digicomm@uchicago.edu. For decades or centuries, economists and decision theorists have struggled to use probability to understand how individuals respond to risk and ambiguity. When investors or consumers face a complex economic environment, it is challenging to represent the uncertainty they face with probability theory. At this Friedman Forum, Lars Peter Hansen, a leader in this field, demonstrates how to think about this problem—and why it matters.
If you experience any technical difficulties with this video or would like to make an accessibility-related request, please send a message to digicomm@uchicago.edu. James J. Heckman, the Henry Schultz Distinguished Service Professor in Economics, is known for both his theoretical work and empirical research. In this Friedman Forum, he discusses an economist’s tools and approach, and shows how they can be applied to address serious policy issues.
If you experience any technical difficulties with this video or would like to make an accessibility-related request, please send a message to digicomm@uchicago.edu. The recession of 2007 has thrown the domestic and global economy off a long-term historical growth path. In this Friedman Forum, 1995 Nobel Laureate Robert E. Lucas Jr. shares his viewpoint: that it’s not clear when or whether we will return to that level of growth.
If you experience any technical difficulties with this video or would like to make an accessibility-related request, please send a message to digicomm@uchicago.edu. For decades or centuries, economists and decision theorists have struggled to use probability to understand how individuals respond to risk and ambiguity. When investors or consumers face a complex economic environment, it is challenging to represent the uncertainty they face with probability theory. At this Friedman Forum, Lars Peter Hansen, a leader in this field, demonstrates how to think about this problem—and why it matters.
If you experience any technical difficulties with this video or would like to make an accessibility-related request, please send a message to digicomm@uchicago.edu. James J. Heckman, the Henry Schultz Distinguished Service Professor in Economics, is known for both his theoretical work and empirical research. In this Friedman Forum, he discusses an economist’s tools and approach, and shows how they can be applied to address serious policy issues.
If you experience any technical difficulties with this video or would like to make an accessibility-related request, please send a message to digicomm@uchicago.edu. The recession of 2007 has thrown the domestic and global economy off a long-term historical growth path. In this Friedman Forum, 1995 Nobel Laureate Robert E. Lucas Jr. shares his viewpoint: that it’s not clear when or whether we will return to that level of growth.