Insulin prices have been increasing in the US, leaving many uninsured and underinsured patients rationing their medication. However, Lilly's recent price cuts on their insulins may provide some relief. Learn about the complex negotiations between manufacturers and pharmacy benefit managers that have led to high insulin prices, as well as the potential impact of Lilly's actions on the industry.

New research by Takuo Sugaya (Stanford Graduate School of Business) and Mitsuru Igami (Yale Department of Economics) reveals the conditions needed for illegal cartels to survive and the factors that lead to their failure. Using game theory to analyze one of the biggest cartel cases in modern history, the researchers discovered that sustained collusion requires mutually beneficial incentives for all companies involved. Findings have implications for policymakers and regulators in their approval of mergers and investment in innovation.

Are you interested in making a difference in the healthcare industry, but don't necessarily want to be on the frontlines? A career in Healthcare Administration might just be the perfect fit for you! As a Healthcare Administrator, you'll be responsible for managing the business side of healthcare. This includes overseeing budgets, managing staff, and ensuring that the facility is up to code and compliant with all regulations. It's a challenging and rewarding role that allows you to make a difference in the lives of patients without having to be a medical professional yourself. One of the most appealing aspects of this field is the variety of settings in which you can work. From hospitals to nursing homes to private practices, Healthcare Administrators are needed in a wide range of healthcare settings. You could even work for a government agency or a non-profit organization dedicated to improving healthcare access and quality. In terms of duties, Healthcare Administrators are responsible for a wide range of tasks. You might be in charge of financial management, human resources, or quality assurance. You could also specialize in a certain area, such as information technology or marketing. The possibilities are endless! To get started in this field, you'll typically need a bachelor's degree in Healthcare Administration or a related field. Popular undergraduate programs include Health Services Administration, Public Health, and Business Administration. You may also need to obtain a master's degree in Healthcare Administration to advance in your career. Some helpful personal attributes for this field include strong communication skills, leadership abilities, and attention to detail. You'll need to be able to work well under pressure and make decisions quickly. As for job prospects, the outlook for Healthcare Administrators is very positive. With an aging population and an increased focus on healthcare access and quality, there is a growing need for skilled professionals in this field. Some notable potential employers include the Mayo Clinic, Kaiser Permanente, and the National Institutes of Health. So if you're interested in a challenging and rewarding career in healthcare, consider Healthcare Administration. With the right education and training, you could make a real difference in the lives of patients and their families.

The rise of the sharing economy has revolutionized the way we live, work and play. From car sharing and home sharing to peer-to-peer lending and crowdfunding, the power of peer-to-peer exchange has disrupted traditional industries, challenged existing regulations, and transformed our understanding of ownership, trust, and community. But what exactly is peer-to-peer economy, and what are the opportunities and challenges it presents for students interested in exploring this cutting-edge academic topic? Peer-to-peer economy refers to a decentralized and networked system of exchange that allows individuals to share, borrow, rent, or sell goods and services directly with each other, often facilitated by online platforms and apps. The key features of peer-to-peer economy are its peer-to-peer nature, its disintermediation of middlemen, its emphasis on trust and reputation, and its potential for collaborative consumption, innovation, and empowerment. The opportunities of peer-to-peer economy are manifold. For example, it can democratize access to resources, reduce waste and carbon footprint, promote social cohesion and inclusivity, and foster entrepreneurship and creativity. According to a report by PwC, the global sharing economy is projected to grow from $15 billion in 2013 to $335 billion in 2025, with sectors such as transportation, accommodation, and finance leading the way. However, the challenges of peer-to-peer economy should not be overlooked. These include issues of regulation, taxation, liability, safety, privacy, and labor rights, as well as the potential for digital divides, fraud, discrimination, and exploitation. Moreover, the impact of peer-to-peer economy on social norms, cultural values, and the common good is still under debate and scrutiny. In conclusion, the peer-to-peer economy is a fascinating and dynamic topic that offers students a wealth of opportunities and challenges to explore. By reading, reflecting, writing, and engaging in self-directed projects, students can gain a deeper understanding of this transformative phenomenon and its implications for the future of work, consumption, and society. So why not take the leap and start your journey of discovery today? The peer-to-peer economy is waiting for you!

Are you a natural problem solver with a keen eye for detail? Do you enjoy working in a fast-paced environment where every day is different? If so, a career in Risk Management might be the perfect fit for you! Risk Management is a field that involves identifying, assessing, and mitigating potential risks that could impact an organization's operations, finances, or reputation. This can include everything from natural disasters and cyber attacks to financial fraud and legal liabilities. One of the most appealing aspects of a career in Risk Management is the diversity of the role. Depending on the industry you work in, you could be responsible for anything from developing emergency response plans to conducting security audits and investigating incidents. For example, a Risk Manager in the healthcare industry might focus on ensuring patient safety and compliance with regulatory requirements, while a Risk Manager in the financial sector might be responsible for managing market and credit risk. To succeed in this field, you'll need a combination of analytical skills, communication skills, and business acumen. A degree in business, finance, or a related field is typically required, with many employers preferring candidates with a Master's degree or professional certification. There are many potential areas of specialization within Risk Management, including Enterprise Risk Management, Operational Risk Management, and Cybersecurity Risk Management. In addition, there are many related fields that can lead to a career in Risk Management, such as Insurance, Accounting, and Law. Some popular undergraduate programs and majors for those interested in Risk Management include Business Administration, Finance, Accounting, and Economics. Many universities also offer specialized Risk Management programs that provide in-depth training in the field. When it comes to job prospects, the outlook for Risk Management professionals is strong. According to the Bureau of Labor Statistics, employment in this field is expected to grow faster than average over the next decade. There are many potential employers in both the public and private sectors, including government agencies, financial institutions, healthcare organizations, and consulting firms. Some notable and attractive potential employers in the field of Risk Management include JPMorgan Chase, Deloitte, Aon, and Marsh. These companies offer competitive salaries, comprehensive benefits packages, and opportunities for career advancement. In conclusion, if you're looking for a challenging and rewarding career that allows you to make a real difference in the world, consider a career in Risk Management. With its diverse range of responsibilities, attractive job prospects, and potential for growth and advancement, this field is sure to offer something for everyone.

Have you ever wondered why some CEOs earn hundreds of times more than their employees? In recent years, the topic of excessive CEO compensation has gained widespread attention and sparked intense debate. While some argue that CEOs deserve high pay for their leadership and contributions to their companies' success, others believe that such compensation is unjustified and contributes to economic inequality. In this write-up, we will explore the justifications for and advances in the area of excessive CEO compensation, and discuss the impact it has on the economy and society at large. One common argument in favor of excessive CEO compensation is that it serves as an incentive for CEOs to work harder and make better decisions. Supporters of this view believe that the promise of a large salary and bonuses motivates CEOs to maximize their companies' profits and shareholder value. However, critics argue that this argument is flawed, as there is little evidence to suggest that higher pay leads to better performance. In fact, some studies have found that excessive CEO compensation can lead to short-term thinking, risk-taking, and unethical behavior. In recent years, there have been several advances in the area of excessive CEO compensation. One significant development is the increased attention and scrutiny placed on CEO pay by shareholders, activists, and the media. This has led to a greater focus on the link between CEO pay and company performance, as well as the need for greater transparency and accountability in executive compensation. Another development is the rise of shareholder activism, in which investors use their power to influence companies' decisions on CEO pay and other issues. To fully understand the topic of excessive CEO compensation, it is important to be familiar with certain academic terms and concepts. One such term is "pay ratio," which refers to the ratio of CEO pay to median employee pay. Another important concept is "stock options," which are a form of executive compensation that gives CEOs the right to buy company stock at a set price. Additionally, "agency theory" is a key concept that is used to explain and resolve issues in the relationship between CEOs and their companies' shareholders. Several leading academics have made significant contributions to the study of excessive CEO compensation. One of these scholars is Lucian Bebchuk, a professor at Harvard Law School who has written extensively on the topic. Bebchuk argues that excessive CEO pay can lead to a misalignment of interests between executives and shareholders, and calls for reforms to address this issue. Another important academic in this area is Steven N. Kaplan, a professor at the University of Chicago Booth School of Business. Kaplan's research focuses on the link between CEO pay and company performance, and he has found that the relationship between the two is more complex than previously thought. Excessive CEO compensation is a complex and controversial topic that has significant implications for the economy and society.

The topics of securitisation and the global financial crisis are not just about numbers, facts, and statistics, but also about human failure, greed, and risk. It's a tale of how a small spark in the world of finance led to a massive explosion that shook the global economy to its core. Let's start with the basics. Securitisation is the process of pooling together various financial assets and then selling securities backed by those assets to investors. The idea behind securitisation was to spread the risk of default among many different investors and make the financial system more stable. However, the reality was far from what was promised. The global financial crisis of 2008 was triggered by the collapse of the housing market, which had been the backbone of the securitisation industry. The crisis was caused by the failure of the rating agencies, who were supposed to assess the risk associated with securities, but instead, gave high ratings to securities backed by risky loans. Ever heard of the term NINJA loans? No Income, No Job, No Assets - these were the types of loans that were being securitised and sold to investors. The financial industry was full of these loans, and the ratings agencies were happy to give high ratings to these securities, leading to the financial crisis. Leading academics such as Raghuram Rajan and Joseph Stiglitz have made significant contributions to the field of securitisation and the global financial crisis. Rajan highlighted the dangers of the financial system's reliance on securitisation, while Stiglitz criticised the rating agencies for their role in the crisis. We hope this write-up has inspired you to dive deeper into the world of securitisation and the global financial crisis. It's a fascinating topic with real-life examples and lessons to be learned. So, grab a book, turn on a documentary, or start a project, and let your imagination take you on a journey to a world of risk, failure, and exploration.

The Business Blockchain by William Mougayar is a must-read for anyone interested in understanding the potential of blockchain technology. This book goes beyond the basics of what a blockchain is and explores the polymorphic characteristics of this revolutionary technology, which will enable frictionless value exchange and redefine relationships, power, and governance. Mougayar, a blockchain industry insider, draws on his extensive experience to describe a future influenced by blockchain technology as the catalyst for change. The Business Blockchain is an invitation to explore the many facets of blockchain technology and learn how to think about its potential. Recommended for entrepreneurs, investors, technologists, and business-minded individuals, The Business Blockchain provides a comprehensive understanding of the potential of blockchain technology. This book is relevant to a wide range of fields of studies, including computer science, economics, finance, and law. It is also useful for professionals in various industries, such as banking, insurance, healthcare, and supply chain management, who are interested in exploring the transformative potential of blockchain technology. Finally, this book is relevant to anyone interested in understanding the future of trust, value exchange, and governance in a decentralized world.

Why do companies manipulate their financial reports? A new study shows that the financial incentives of rank-and-file employees play a significant role in shaping corporate financial reporting. Researchers found that higher pay and fixed compensation for junior accountants can improve accounting quality, while cash bonuses tied to corporate earnings can lead to aggressive revenue recognition and misreporting. Learn more about the bean counters' dilemma and its impact on financial reporting in this thought-provoking study by the Stanford Graduate School of Business and the University of Washington's Foster School of Business.

Do you have a passion for innovation and creativity? Are you interested in the legal protection of ideas and inventions? If so, the study of Intellectual Property Law may be the perfect fit for you! Intellectual Property Law is a fascinating field of study that deals with the legal protection of ideas, inventions, and creative works. From music and art to technology and medicine, Intellectual Property Law plays a crucial role in safeguarding the rights of creators and innovators. In recent years, Intellectual Property Law has become increasingly important as technology has advanced and new forms of creative expression have emerged. This field of study is constantly evolving, with new innovations and legal challenges arising on a regular basis. At the undergraduate level, students can expect to study a range of topics, including copyright law, patent law, trademark law, and trade secret law. They will also learn about the legal frameworks that govern the use and protection of intellectual property, as well as the ethical considerations that arise in this field. Some of the most interesting research in this field includes the study of how intellectual property laws impact innovation and creativity, as well as the role that intellectual property plays in international trade and development. For those who want to specialize further, there are a variety of areas of focus within Intellectual Property Law, including entertainment law, technology law, and patent law. Graduates of this field of study can expect to find employment in a range of industries, including technology, entertainment, and pharmaceuticals. Some potential future jobs and roles for graduates of Intellectual Property Law include patent attorney, trademark attorney, intellectual property analyst, and licensing manager. Notable employers in this field include companies like Google, Apple, and Pfizer, as well as government agencies like the United States Patent and Trademark Office. To succeed in this field of study, students should have strong analytical skills, excellent communication skills, and a keen interest in the intersection of law and innovation. If you have a passion for creativity and a desire to protect the rights of innovators, then the study of Intellectual Property Law may be the perfect fit for you!

If you're a student who is intrigued by the complex and ever-changing world of business, corporate law could be the perfect career path for you. Corporate lawyers play a critical role in advising companies on legal matters and helping them navigate the intricate web of laws and regulations that govern modern commerce. Here's a closer look at what a career in corporate law entails and why it might be a great fit for you. Corporate law is a fascinating field that blends business and law, with a focus on the legal issues that arise in the context of corporate activities. Corporate lawyers help companies with a wide range of legal matters, such as structuring and negotiating business transactions, complying with regulatory requirements, and resolving disputes. Some corporate lawyers work in-house for a single company, while others work for law firms that provide legal services to multiple clients. One of the most appealing aspects of a career in corporate law is the opportunity to work on high-stakes deals and transactions that can have a significant impact on the global economy. For example, a corporate lawyer might work on a merger between two multinational companies, help a startup navigate the legal hurdles of an initial public offering (IPO), or advise a Fortune 500 company on a major joint venture. The work can be challenging, but also incredibly rewarding. In terms of day-to-day responsibilities, corporate lawyers often research and analyze legal issues, draft contracts and other legal documents, and advise clients on the legal implications of various business decisions. Some corporate lawyers specialize in particular areas of law, such as securities law, tax law, or intellectual property law. Others work in related fields such as mergers and acquisitions, private equity, or investment banking. To become a corporate lawyer, you'll typically need to earn a law degree (J.D.) and pass the bar exam in the state where you plan to practice. Some popular undergraduate majors for aspiring corporate lawyers include business, economics, and political science. Many law schools offer courses and clinics focused specifically on corporate law, and some also offer joint degree programs that combine law and business. In terms of personal attributes, successful corporate lawyers tend to be analytical, detail-oriented, and able to think strategically. They should also have excellent communication skills, as they will be working closely with clients, other lawyers, and business executives. The job prospects for corporate lawyers are generally strong, particularly at top law firms and in-house legal departments at large companies. Many of the world's leading law firms have dedicated corporate practices, and some of the most well-known names in the business world, such as Goldman Sachs, Microsoft, and Procter & Gamble, have large legal departments that employ corporate lawyers.

The global financial crisis of 2008 led to economic turmoil and widespread job loss, but the role of OTC (over-the-counter) derivatives in the crash is not well understood. These complex financial instruments were designed to reduce risk, but they amplified it, resulting in massive losses and a bailout that cost taxpayers trillions of dollars. OTC derivatives are contracts that allow parties to speculate on the future value of assets such as stocks, bonds, or commodities. They are privately negotiated and not traded on public exchanges, which makes them less transparent and harder to regulate. Banks and other financial institutions created increasingly complex and risky derivatives, such as credit default swaps (CDS) that allowed investors to bet on the likelihood of default on mortgages and other debt in the years leading up to the crisis. When the housing bubble burst and homeowners began defaulting on their mortgages, the value of CDS contracts plummeted, causing massive losses for those who held them. This triggered a chain reaction of failures and bailouts as banks tried to shore up their balance sheets and avoid bankruptcy. The government bailouts of banks and other financial institutions during the crisis are estimated to have cost $12.8 trillion globally, including direct and indirect costs such as lost tax revenue and economic output. Leading academics have been critical of the lack of transparency and regulation in the OTC derivatives market. Senator Elizabeth Warren, a law professor and former chair of the Congressional Oversight Panel for TARP, has argued that the complexity and opacity of these instruments makes it difficult to assess risk and protect consumers. Nobel laureate economist Joseph Stiglitz has also warned of the dangers of unregulated financial innovation, calling for stronger oversight and better risk management. Understanding the role of OTC derivatives in the global financial crisis is a lesson in the need for transparency, accountability, and responsible risk management in the world of finance. By exploring this and related topics in more depth, students can gain valuable insights into the workings of the economy and the forces that shape our world.

Are you passionate about conflict resolution and interested in a career that involves negotiating and resolving disputes? Look no further than a career in arbitration. As an arbitrator, you can help individuals, organizations, and even countries resolve conflicts in a fair and impartial manner. Arbitration is a legal process in which a neutral third party, the arbitrator, is appointed to resolve disputes between two or more parties. Unlike traditional court proceedings, arbitration offers a more private, efficient, and cost-effective way to resolve disputes. The arbitrator's decision is final and binding, and the parties involved must abide by the decision. In the world of arbitration, there are a wide variety of fields and specializations to choose from. For instance, you could specialize in international arbitration, labor disputes, construction disputes, or even sports disputes. As an arbitrator, you will typically be responsible for reviewing evidence, conducting hearings, and rendering a final decision. You will need to have excellent communication, analytical, and negotiation skills, as well as a strong knowledge of the law and legal procedures. To become an arbitrator, you will typically need to have a degree in law, business, or a related field. Some popular undergraduate programs and majors include law, international relations, economics, and business administration. In addition to your education, you will also need to gain practical experience in the field. Many aspiring arbitrators start by working as paralegals or legal assistants, and then move on to become arbitrators. If you are considering a career in arbitration, it's important to have certain personal attributes. You should be a good listener, have excellent problem-solving skills, and be able to think creatively and critically. You should also be able to remain impartial and objective, even in the face of highly emotional or contentious disputes. The job prospects for arbitrators are excellent, and the longer-term outlook is positive. Many private and public sector organizations are seeking arbitrators to help resolve disputes. Some notable employers include the American Arbitration Association, the International Chamber of Commerce, and JAMS, one of the largest private alternative dispute resolution providers in the world.

In his book, Robert Bork offers a unique perspective on antitrust law that challenges conventional wisdom. He argues that these laws, often thought to protect consumers, actually do the opposite by favoring inefficient small businesses. Bork also delves into the societal tensions between liberty and equality that are reflected in antitrust law. This book is a must-read for anyone interested in economics, law, or politics, as it sheds new light on an important and often misunderstood topic. Recommended for students of law, economics, and political science, as well as anyone interested in understanding the impact of antitrust law on consumers and small businesses. The insights offered by Bork's analysis of the societal tensions between liberty and equality are also relevant to those studying sociology and philosophy. This book is particularly relevant to those interested in the intersection of law and economics, and the role of government in regulating business practices. It is also a valuable resource for entrepreneurs and small business owners seeking to understand the impact of antitrust laws on their industry.

Did you know that corporate fraud may be more widespread than we think? According to Professor Alexander Dyck and his team, 3% of U.S. companies are caught committing fraud each year under typical surveillance, but the real number may be closer to 10%. Their research, which examines the impact of the Enron scandal on detecting fraud, also estimated that fraud destroys about 1.6% of a company's equity value, representing about $830 billion in current U.S. dollars. This research will inspire you to explore the topic further and think critically about the role of regulation and oversight in corporate governance.

Financial regulators have finally taken an interest in cryptocurrencies due to political pressure, despite law enforcement closely monitoring transactions for years. While crypto may not pose significant micro or macro concerns, regulators are compelled to act. However, their actions may backfire, warns Dr Jon Danielsson.

In 2015, the world was rocked by the revelation that Volkswagen, the world's largest automaker, had been systematically cheating on emissions tests for its diesel vehicles. The scandal involved over 11 million vehicles worldwide, and led to fines, recalls, and a major blow to Volkswagen's reputation. But how did this happen? At the heart of the matter was a failure of corporate governance. Volkswagen's management structure, which gave its CEO enormous power and limited oversight by the board of directors, created an environment where unethical behavior could thrive. Specifically, Volkswagen had developed a software "defeat device" that would reduce emissions during testing, but then switch off during regular driving, allowing the vehicles to emit harmful pollutants at levels far above legal limits. This was not only illegal, but also a breach of ethical standards that should have been caught by the company's internal controls. Unfortunately, those internal controls were weak, in part because of the way Volkswagen was organized. The company was controlled by a group of families and other stakeholders, who had more power than the shareholders, and who were reluctant to challenge management decisions. This created a culture of deference to the CEO, who in turn was focused on profits and market share above all else. Academic research has shown that the Volkswagen scandal is not unique, and that weak corporate governance can lead to a range of negative outcomes, from financial fraud to environmental damage. For example, studies by leading scholars such as Lucian Bebchuk and Jesse Fried have shown that companies with dual-class share structures, like Volkswagen, are more likely to engage in unethical behavior and less likely to respond to shareholder pressure. But there are also solutions. Research by Nell Minow and others has shown that independent directors, strong shareholder rights, and a commitment to ethical values can help prevent governance failures and improve corporate performance. By exploring these and other topics related to corporate governance, students can gain a deeper understanding of how companies operate, and how they can contribute to a more ethical and sustainable business world.

Are you passionate about innovation, creativity, and protecting the rights of inventors and artists? If so, a career in Intellectual Property Law might be the perfect fit for you. As an Intellectual Property Lawyer, you will play an essential role in safeguarding the intellectual property rights of individuals and organizations. Intellectual Property Law is a fascinating field that encompasses various areas, such as patents, trademarks, copyrights, and trade secrets. It involves working with clients from different industries, including technology, entertainment, fashion, and healthcare, among others. Intellectual Property Lawyers provide legal advice, represent clients in court, draft contracts, and negotiate settlements to protect their intellectual property rights. For example, consider the recent legal battle between Apple and Samsung over smartphone patents. Intellectual Property Lawyers played a crucial role in this case, which involved complex legal issues and millions of dollars in damages. Similarly, in the music industry, Intellectual Property Lawyers help artists protect their work from unauthorized use and secure fair compensation for their creations. To become an Intellectual Property Lawyer, you need to complete a Juris Doctor (JD) degree from a law school, followed by passing the bar exam. Some universities offer specialized Intellectual Property Law programs or courses within their law schools. However, a degree in science, engineering, or business can also be helpful for certain areas of specialization, such as patent law. In addition to a solid educational background, certain personal attributes are essential for a successful career in Intellectual Property Law. These include excellent analytical skills, attention to detail, communication skills, and a passion for problem-solving. Job prospects for Intellectual Property Lawyers are strong and growing, particularly in the technology and healthcare sectors. A career in Intellectual Property Law can lead to work in private practice, as well as in-house positions in corporations, government agencies, and non-profit organizations. Some notable employers include law firms such as Finnegan, Henderson, Farabow, Garrett & Dunner, LLP, Morrison & Foerster LLP, and Skadden, Arps, Slate, Meagher & Flom LLP, as well as companies such as Google, Apple, Pfizer, and the US Patent and Trademark Office.

A US appeals court has ruled that the name "gruyere" can now be used to label cheeses from outside of the Gruyère region of Switzerland and France. This decision is seen as a victory for US dairy groups, but has sparked controversy among Swiss and French cheese producers. Learn more about the legal battle over the designation of origin for foods and the impact on the global cheese industry.

Robert Frank's "The High-Beta Rich" exposes the untold story of the high-beta rich and their impact on the American economy. With vivid storytelling, Frank takes readers inside the mortgaged mansions, blown-up balance sheets, and repossessed Bentleys and Gulfstreams. The book highlights how the top 1% of the population, who control more than a third of the country's wealth, are becoming an increasingly unstable force in the economy, wreaking havoc on communities, employment opportunities, and government finances. This engrossing read is a must for anyone interested in understanding the national consequences of high-beta wealth. Recommended for economics and business students, policymakers, and anyone interested in understanding the impact of wealth inequality on the economy and society. The book's insights into the volatile nature of high-beta wealth and its consequences for communities, employment opportunities, and government finances make it an important read for those concerned with economic stability and social justice. The book's vivid storytelling and analysis of the lives of the high-beta rich also make it an entertaining read for anyone interested in the lifestyles of the wealthy.