What happens in the brain when something is fair or unfair? In this video, Alexander Cappelen and Bertil Tungodden present their research on the effects of fairness on our brains. Using fMRI technology, the neuroeconomics study shows that the brain reacts to unfairness. Income inequalities are perceived as fair if they reflect different work contributions. This video was recorded at the Choice Lab, Norwegian School of Economics, in Bergen.

Erick Gong 25 May 2016

Individuals getting tested for HIV are expected to reduce their risky sexual behaviour. In this video, Erick Gong discusses the impact of HIV testing and expectations about the test results on risky sexual behaviour. The number of people being HIV tested is increasing, and understanding how individuals react to is important to adapt policies to treat the virus. This video was recorded in March 2016 during the Royal Economic Society’s Annual Conference held at the University of Sussex.

Esther Duflo 23 May 2016

Randomised controlled trials create comparable groups which are subject to different treatments. The results of the trial allow us to understand the impact of a particular intervention. In this video, Esther Duflo discusses how randomised controlled trials can be used to inform policymakers. Experimenting with policies under different contexts could help build more effective policies, especially in developing countries. This video was recorded in March 2016 during the Royal Economic Society’s Annual Conference held at the University of Sussex.

Giovanni Mastrobuoni 20 May 2016

Education usually has a protective effect – people with higher levels of education are less likely to start criminal activities. In this video, Giovanni Mastrobuoni discusses the benefits of education on members of the Italian-American Mafia. Although the nature of the business is illegal, those involved in business-related crimes (loan sharking, drug dealing) are those who gain the most from an extra year in school. This video was recorded in March 2016 during the Royal Economic Society’s Annual Conference held at the University of Sussex.

Miaojie Yu 18 May 2016

When China opened up, Chinese income increased and China went from a poor to a middle-income country. In this video, Miajie Yu discusses the impact of trade liberalisation on firm productivity in China. Openness to trade had a big impact on processing trade – such as putting together iPhones – and now accounts for half of Chinese trade. This video was recorded in March 2016 during the Royal Economic Society’s Annual Conference held at the University of Sussex.

Kristin Forbes 16 May 2016

Current accounts deficits are driven by different variables, with a trade deficit being a major component. In this video, Kristin Forbes outlines a model to understand when deficits are worrying. When countries run current account deficits, we need to go beyond trade deficits and focus on financial channels and vulnerabilities. Deficits can be risky, but can also be risk-sharing. This video was recorded in March 2016 during the Royal Economic Society’s Annual Conference held at the University of Sussex.

Maryam Farboodi 14 May 2016

Banks' balance sheets are complicated and opaque, making it hard to assess their health. In this Vox Views video, Maryam Farboodi suggests that opacity is an intentional choice by banks. Banks want to maximise their profits by offering the lowest return possible to investors without scaring them away. They choose to provide just enough information to maximise profits. The video was recorded in April 2016 at the First Annual Spring Symposium on Financial Economics organised by CEPR and the Brevan Howard Centre at Imperial College.

Paolo Fulghieri 13 May 2016

Are booms and busts in the technology sector irrational bubbles? In this Vox Views video, Paolo Fulghieri argues that this pattern is the outcome of rational investors who are uncertainty-averse about future innovation waves. Investors tend to value innovation more when it comes in clubs, whereas when innovation is done in isolation investors are more pessimistic. The video was recorded in April 2016 at the First Annual Spring Symposium on Financial Economics organised by CEPR and the Brevan Howard Centre at Imperial College.

Alex Cukierman 12 May 2016

The collapse of a big investment bank may bring down an entire financial system. In this Vox Views video, Alex Cukierman discusses the implications of uncertainty over bank bailouts. Changes in bailout likelihood and bailout uncertainty are disruptive to the market and might worsen crises. The video was recorded in April 2016 at the First Annual Spring Symposium on Financial Economics organised by CEPR and the Brevan Howard Centre at Imperial College.

Semyon Malamud 11 May 2016

Exchange-traded funds (ETFs) are an efficient way for small investors to invest in a specific index. In this Vox Views video, Semyon Malamud discusses the implications of the growing number of ETFs. In a perfectly efficient market, the price of the ETF should be equal to the net asset value, but deviations create arbitrage activities and lead to market inefficiencies. The video was recorded in April 2016 at the First Annual Spring Symposium on Financial Economics organised by CEPR and the Brevan Howard Centre at Imperial College.

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