Empirical Importance w/ David H. Solomon (The Lightning Podcast S1 E44)

"If what you are doing is not important, and if you don't think it is going to lead to something important, why are you at Bell Labs working on it?"

– Richard Hamming

This week, join Cyrus Palizban and new guest, David H. Solomon, professor of finance at Boston College, as we discuss David’s work on behavioral finance, media roles, and recent research on birth rates. The discussion centers on a quote by Richard Hamming about importance, which David connects to his own work, namely: the intricacies of birth rates, the impact of child car seat laws, and how local diversity affects fertility rates. Above all, this episode emphasizes the value of disciplined academic inquiry and highlights the importance of asking challenging questions

00:00 Introduction and Guest Welcome

00:16 David Solomon's Background

00:46 Exploring Behavioral Finance

01:15 Richard Hamming's Inspirational Quote

02:02 The Importance of Working on Significant Problems

03:33 Challenges in Academia and Research

05:31 Birth Rates and Economic Implications

06:31 The Puzzle of Declining Birth Rates

13:48 Empirical Analysis and Coding

17:20 The Impact of Child Car Seat Laws on Birth Rates

24:59 Corporate Social Responsibility and Public Policy

28:01 Exploring the Relationship Between Racial Diversity and Birth Rates

29:47 Understanding the Herfindahl Index and Racial Isolation

31:52 Implications for Homogeneous Countries

34:37 Historical Consistency of Birth Rate Trends

37:53 Challenges and Backlash in Academia

41:04 The Role of Tenure in Academic Research

44:28 The Broader Context of Non-Profit Institutions

49:16 Personal Reflections on Birth Rates and Parenthood

55:23 Concluding Thoughts and Future Research Directions

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