MIT Conference on the digital economy, London pre-show — David Schmittlein

MIT Sloan Dean David Schmittlein

MIT Sloan Dean David Schmittlein

MIT Sloan Dean David Schmittlein sits down with Dave Vellante and Stu Miniman from theCube for the live pre-show to the MIT Conference on the Digital Economy: The Second Machine Age to discuss MIT Sloan’s work on innovation and the digital economy, and how new technologies have changed the way we learn.

MIT Initiative on the Digital Economy: http://mitsloan.mit.edu/ide/

On April 10, 2015, the MIT Digital Economy Conference: The Second Machine Age, led by Erik Brynjolfsson, director of the Initiative on the Digital Economy, and Andrew McAfee, co-director of the Initiative on the Digital Economy, featured a series of discussions that highlight MIT’s role in both understanding and shaping our increasingly digital world.

David Schmittlein is the John C Head III Dean and Professor of Marketing at the MIT Sloan School of Management.

Opinion: Even stock traders get the back-to-school blues — and we all feel it — Lily Fang

MIT Sloan Visiting Associate Professor of Finance Lily Fang

MIT Sloan Visiting Associate Professor of Finance Lily Fang

From MarketWatch

It’s widely known on Wall Street that September is the worst month for stocks. This is not just trader superstition. An article published in the Wall Street Journal last year points out that since 1896, the Dow Jones Industrial Average has lost 1.09% in September on average, while returns for every other month average 0.75%. Moreover, September is the only month that shows average declines over the past 20, 50, and 100 years.

While the September swoon is no secret, its precise cause is elusive. Possible explanations for the lower returns range from the complex — one study theorizes that portfolio managers sell stocks with recent losses in September to take advantage of tax breaks before the end of their tax year in October; to the dubious — some strategists claim it’s pure randomness; to the downright bizarre — a study by University of Kansas suggests that the decline in the amount of daylight in New York City in September might spark seasonal affective disorder and make some traders more risk-averse.

Importantly, this lower return was not driven by September alone, even though the September effect is pervasive in the northern hemisphere. Even when September is excluded, there is still a return gap of at least 0.5% between after-holiday months and other times, and the difference remains highly significant.

Read More »

MIT Conference on the digital economy, London 2015 — Roberto Rigobon

MIT Sloan Professor Roberto Rigobon

MIT Sloan Professor Roberto Rigobon

MIT Sloan Professor Roberto Rigobon chats with Dave Vellante and Stu Miniman from theCube for the live pre-show to the MIT Conference on the Digital Economy: The Second Machine Age to discuss the Billion Prices Project.

MIT Initiative on the Digital Economy: http://mitsloan.mit.edu/ide/
Billion Prices Project: http://bpp.mit.edu/

On April 10, 2015, the MIT Digital Economy Conference: The Second Machine Age, led by Erik Brynjolfsson, director of the Initiative on the Digital Economy, and Andrew McAfee, co-director of the Initiative on the Digital Economy, featured a series of discussions that highlight MIT’s role in both understanding and shaping our increasingly digital world.

Roberto Rigobon is the Society of Sloan Fellows Professor of Management and a Professor of Applied Economics at the MIT Sloan School of Management.

Innovating with Bitcoin at MIT — Christian Catalini

MIT Sloan Professor Christian Catalini

MIT Sloan Professor Christian Catalini

From Xconomy

In November, we began distributing $100 in Bitcoin to every undergraduate student at MIT. A large share of the 4,500 eligible students participated in the project.

Bitcoin is an innovative payment network that allows for instant peer-to-peer transactions with zero or very low processing fees on a worldwide scale. The objective of the study is to observe the diffusion of Bitcoin, a software-based, open-source, peer-to-peer payment system on the MIT campus.

The initiative began in April 2014 when students Jeremy Rubin and Dan Elitzer organized the idea, raised the funds from donors, and launched the MIT Bitcoin Project. I started working with these students when it quickly became clear that the project had to become a full research study and had to meet the rigorous requirements of academic research at MIT.

Observing the ways students will innovate because of their newfound Bitcoin cash should be fascinating: MIT students are tech savvy, not set in their ways, generally a bit cash strapped anyway, and often open to new innovations. In the same way that MIT gave students early access to computing resources through the Athena project in 1983, this project intends to give participants early access to a digital currency.

Read the full post at Xconomy.

Christian Catalini is the Fred Kayne (1960) Career Development Professor of Entrepreneurship and Assistant Professor of Technological Innovation, Entrepreneurship, and Strategic Management at the MIT Sloan School of Management.

MIT Conference on the digital economy, London pre-show — Erik Brynjolfsson and Andrew McAfee

Erik Brynjolfsson and Andrew McAfee

MIT Sloan’s Erik Brynjolfsson and Andrew McAfee

Erik Brynjolfsson and Andrew McAfee preview the MIT Conference on the Digital Economy: The Second Machine Age with Dave Vellante and Stu Miniman from theCube during the live pre-show.

MIT Initiative on the Digital Economy: http://mitsloan.mit.edu/ide/

On April 10, 2015, the MIT Digital Economy Conference: The Second Machine Age, led by Erik Brynjolfsson, director of the Initiative on the Digital Economy, and Andrew McAfee, co-director of the Initiative on the Digital Economy, featured a series of discussions that highlight MIT’s role in both understanding and shaping our increasingly digital world.

Erik Brynjolfsson is the Schussel Family Professor of Management Science, a Professor of Information Technology, and the Director of the MIT Center for Digital Business at the MIT Sloan School of Management. 

Andrew McAfee is the Principal Research Scientist at the MIT Center for Digital Business.