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Christopher Sessums

Christopher Sessums's Public Library

Jul 05, 15

"“New York is full of normal people who think they’re crazy; Baltimore is full of crazy people who think they’re normal.”"

Jul 02, 15

"Making sense of higher education revenues, spending, and outcomes

Jul 01, 15

"Can sellers credibly signal their private information to reduce frictions in negotiations? Guided by a simple cheap-talk model, we posit that impatient sellers use round numbers to signal their willingness to cut prices in order to sell faster, and test its implications using millions of online bargaining interactions. Items listed at multiples of $100 receive offers that are 5% - 8% lower but that arrive 6 - 11 days sooner than listings at neighboring "precise" values, and are 3% - 5% more likely to sell. Similar patterns in real estate transactions suggest that round-number signaling plays a broader role in negotiations."

  • Asking employees to generate ideas without creating mechanisms to do something with them
  • Pushing for answers without defining problems worth solving.
  • Pleading for breakthrough impact without allocating A-team resources.

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