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.
The World Data Lab (WDL) in cooperation with WU, announced the launch of the World Emissions Clock (WEC) on the margins of the UN Climate Conference in Egypt today. WU and WDL have developed this statistical model in partnership with the Federal Ministry of Economic Cooperation and Development of Germany (BMZ), the German Agency for International Cooperation (GIZ), the Patrick McGovern Foundation, the International Institute of Applied Systems Analysis, and the University of Oxford.
Current information on household wealth and income is crude and only comparable on an international level to a limited extent. A WU researcher proposes new approaches to improve the way distributional issues and inequality around the world are presented.
What role do optimistic and pessimistic expectations play in the financial markets? And how do these sentiments affect banks’ lending decisions? This question is at the heart of a recent study by Professor Ingrid Kubin, head of the Institute for International Economics and Development at WU (Vienna University of Economics), and her co-authors.
Prof. Jesús Crespo Cuaresma has been appointed a full member of the Academia Europaea. The head of the Institute of Macroeconomics and deputy head of the Department of Economics is the second researcher from the Vienna University of Economics and Business to be elected to the Academia Europaea, following Prof. Harald Eberhard.
Countries that are closer to the equator have been shown to have less COVID-19 cases, relative to the number of residents, research from Vienna University of Economics and Business (WU Vienna) has revealed.
Knowing more about the economy and politics is an advantage not only for individuals but also for society as a whole. If we have better knowledge and more information, we are able to make better decisions, which benefits everyone in the end. Professor Christoph Weiss from WU’s Department of Economics has investigated how more information makes markets work better.
Your data, your choice.