Are experts really better at judging the quality of art than the general public? According to a study by WU (Vienna University of Economics and Business), this seems doubtful – at least in the field of classical music. The study shows that audiences outperform expert juries when it comes to predicting performers’ future success. Audience members are also less biased regarding musicians’ origin and gender.
Birth rates in industrialized countries are falling steadily. But the fewer children they have, the more parents invest in the education and health of their offspring – making them more valuable to the economy. Can increasing human capital compensate for falling birth rates? At least partially, as a study by WU shows.
Whether we can really trust scientific studies depends on one important factor: reproducibility. Data can only be reproduced by other researchers if it is documented transparently. A team including Ben Greiner, Miloš Fišar and Christoph Huber from the WU Institute for Markets and Strategy has investigated the extent to which this applies to management science. They have summarized their most important findings here.
The effects of mining on humans and the environment are poorly documented. In a commentary in the journal Nature, WU researcher Victor Maus has called for thee data gaps to be closed. This is a prerequisite for implementing the green energy transition in a way that minimizes environmental damage.
When managers give up part of their salary, this can boost the motivation of the entire workforce – especially when they do so of their own free will and the money benefits the employees or a good cause. This is the finding of a study by WU (Vienna University of Economics and Business).
Long-term unemployment makes people feel lonely and hopeless. So what can we do to eliminate this problem? A researcher from WU (Vienna University of Economics and Business) has tested an innovative approach: a job guarantee for everyone. The results of an initial pilot project are promising.
Does our sense of smell influence our buying behavior? Yes – at least for people with a high “need for smell.” A study carried out at WU (Vienna University of Economics and Business) has shed more light on the role the nose plays when shopping.
Artificial intelligence could help make manufacturing work safer, easier, and more productive. This is the idea behind the EU-funded PERKS research project, in which researchers from WU (Vienna University of Economics and Business) play a pivotal role.
Thanks to digitalization, we now have the tools to analyze the global economy more accurately than ever before – with a map of global supply chain networks. This is exactly what WU’s Anton Pichler is working on together with other scientists from various disciplines.