Business & Entrepreneurship

The penny's days are numbered: What the change means for your wallet

Katy Hill — Wed, 22 Oct 2025 15:59:33 +0000

The penny's days are numbered: What the change means for your wallet Katy Hill Wed, 10/22/2025 - 09:59

Katy Marquardt Hill

The U.S. government is phasing out the penny, ending more than 200 years of production for the one-cent coin. Lawmakers say it a matter of fiscal responsibility: The penny now costs more to make than it worth, and its usefulness in everyday transactions has dwindled. But what will the change mean for consumers, and could it be a step toward eliminating other coins?

Edward Van Wesep

�Ͼ�Ʒ�� Today caught up with Edward Van Wesep, professor and chair of the finance division at the Leeds School of Business, to break down what you need to know.

Why is the government ending penny production now, and what the economic rationale behind it?

The penny costs more to produce than it is worth and doesn't offer much value for buyers and sellers of goods and services. Prices can be rounded up and down to the nearest five cents for cash transactions. For noncash transactions, we can continue to use "the penny" as our minimum unit of a final transaction's value. As I am sure readers know, we use even smaller denominations than a penny despite the fact that final transaction values get rounded to the penny. Gas, for example, is usually priced to the tenth of a penny. Simply put, the value pennies provide is less than their hassle and producing them costs the government money.

What does it mean for consumers when cash transactions are rounded to the nearest five cents?

Not much. The effect, on average, is essentially zero because rounding goes both up and down.

Are there any historical or international precedents for eliminating low-value coins?

There are plenty. In the U.S., we had a coin called the half penny that was phased out over 150 years ago. Inflation since then means that a half penny was worth far more in 1857 than the penny is today, but people made do. Canada got rid of the penny in 2012. Governments that experience higher inflation get rid of lower denomination coins and bills all the time.

How might this affect low-income consumers or people who rely more on cash?

I doubt that there would be much of an effect on low-income consumers. As I mentioned, transaction values round both up and down. On average, there wouldn't be much effect. If there were a lot of things priced at less than 2.5 cents, then you could see some effect because stores would have to round those prices up but it has been a long time since you could buy any single items for 2.5 cents! For those of us who don't use cash much, there is little hassle from dealing with pennies but for those who do, pennies are a hassle.

Could getting rid of the penny impact prices or inflation in any meaningful way?

No. It's just not worth enough to matter and, again, rounding goes both ways.

What are the logistical challenges businesses and banks might face in transitioning to a penniless economy?

I don't think that there will be serious challenges. Businesses can simply stop accepting pennies if they want. Presumably, as pennies will still be in circulation, businesses will be free to accept them or offer them as change if they see fit. (I'm not aware of any mandatory phasing out of pennies, as we saw with gold and silver certificates when we went off the gold standard.) I expect that many businesses will stop accepting them and that will slightly simplify their operations. Cash has been phasing out in general. I doubt that the phaseout of pennies specifically will be more complex.

Beyond manufacturing cost, are there other arguments for or against keeping the penny—like tradition, symbolism or jobs?

I have a hard time thinking of benefits of the penny. Most people will not pick up a penny that is lying on the street.

Looking ahead, could this set the stage for phasing out other coins—like the nickel—or accelerating a move toward a cashless economy?

The nickel is next. It is far more expensive than 5 cents to produce a nickel, and nickels are heavy. A pocketful of nickels is a pain! I could imagine more pushback to phasing out the nickel because you could imagine 10 cents here and there adding up over time. The arguments for phasing out the penny mostly apply to the nickel, though, and as we become more cashless those arguments will only get stronger. I don't think that phasing out either coin will push people away from cash.

What should we do with the pennies we have at home? Will they become worth more or collectable?

As for pennies at home, I doubt that they will ever be worth anything more than a penny, and the value of a penny goes down every day due to inflation. There are lots out there and I doubt that demand for them as collectables will ever exhaust the supply—certainly not in our lifetimes. I suggest saving a few if they bring you joy and turning the rest in. As a side benefit, it's good for the environment to recycle copper rather than mining more out of the ground!

�Ͼ�Ʒ�� finance expert explains the phaseout, rounding rules and what the end of the penny means for consumers.

Traditional

White

How to outsmart online scammers in the age of AI, according to a cybersecurity expert

Katy Hill — Tue, 14 Oct 2025 14:28:59 +0000

How to outsmart online scammers in the age of AI, according to a cybersecurity expert Katy Hill Tue, 10/14/2025 - 08:28

Katy Marquardt Hill

October is Cybersecurity Awareness Month, but staying secure online is a year-round challenge, especially as criminals use new tools like generative AI to create sophisticated phishing emails, fake websites and even cloned voices.

Sebastian Schuetz

Sebastian Schuetz, an assistant professor of organizational leadership and information analytics at the Leeds School of Business, studies how leadership and human behavior shape cybersecurity outcomes. �Ͼ�Ʒ�� Today spoke with Schuetz about why people fall for scams even when they know better and what both individuals and leaders can do to reduce risk.

Why do so many people still fall for phishing emails and online scams, even when they know to be cautious?

Awareness alone isn’t enough to avoid phishing emails. Spotting scams depends not just on knowing what to look for, but on paying attention to subtle cues. Research shows that both knowledge and mindfulness when handling emails strongly influence people ability to spot phishing attempts.

Under time pressure, mindfulness decreases, making people more vulnerable to scams. Meanwhile, phishing tactics are evolving: Cues that once signaled phishing—like poor formatting, grammar mistakes or generic greetings—are increasingly rare. With generative AI, attackers can now craft sophisticated, targeted phishing emails at scale, leaving most of us less equipped to spot the difference.

What are some of the most common mistakes people make when it comes to passwords and online security?

One of the most common mistakes is failing to enroll in multi-factor authentication (MFA). While it can feel cumbersome and isn't foolproof, MFA is highly effective at strengthening account security by making it much harder for criminals to exploit stolen credentials.

Another frequent error is reusing passwords. Although convenient, reuse is particularly risky because the security of all accounts using the same credentials depends on the weakest link. When passwords are reused, even accounts on platforms with strong security measures can be compromised if attackers obtain credentials from less secure websites. The best way to improve online security is to enable MFA and to use password managers (e.g., Keychain, 1Password) to generate unique passwords for each website.

How have cybercriminals’ tactics evolved, especially as more of our shopping and banking happens online?

Generative AI has enabled cybercrime in three important ways. First, it helps even inexperienced scammers create convincing, error-free phishing emails. Second, it has made large-scale attacks cheaper and faster—what once took hours of manual work can now be done instantly. Third, AI-generated voices and videos allow criminals to impersonate real people on calls or video chats.

Together, these advances mean consumers must stay more alert than ever.

With the holidays approaching, what are the biggest digital threats consumers should watch for when shopping or donating online?

Online retail is particularly prone to scams. We all know the stories about people buying empty boxes, receiving counterfeit goods or never receiving their purchases at all. Scammers take advantage of the convenience of online shopping by creating fake storefronts, offering too-good-to-be-true prices or hijacking legitimate marketplaces to mislead buyers.

The holiday season makes this even worse. High demand and limited stock create urgency that criminals exploit. Consumers should shop with known retailers and marketplaces that provide clear refund or dispute processes.

In terms of the human side of cybersecurity, what does research tell us about how habits and emotions shape our digital safety decisions?

The human factor often gets blamed for cybersecurity failures—and for good reason, since many breaches stem from our own actions. It natural to trust too easily, skip updates or password changes, or click too quickly out of hope or fear. These instincts make us human, but they’re also what criminals exploit. Research shows that people who stay mindful and cautious by default are the most resilient to cybercrime.

Are there small, practical steps that make a big difference in protecting personal data—things people can do today without extra software or tech skills?

Be cautious with how you share information online. Avoid sharing sensitive or personal information through unencrypted channels like email or text. If someone asks you to provide documents or information, upload them only through the organization's official website, where appropriate security controls are more likely to be in place.

Never click on links in emails—go directly to the site by typing the address into your browser. When creating passwords, make them long. Each additional character exponentially increases password strength—even increasing from 10 to 12 characters makes a dramatic difference.

For companies or leaders, what role does culture or leadership play in keeping employees vigilant against attacks?

Culture is everything. Leadership sets the tone for cybersecurity. When managers model good security habits and treat data protection as part of doing the job well, employees follow suit.

Our research shows that organizations with strong security cultures are less vulnerable to attacks because people see protecting data as part of their core responsibilities. The opposite is also true—when leaders don’t prioritize security, security measures often fall flat.

Ultimately, a leader attitude toward cybersecurity ripples through the entire organization. Top leaders, in particular, set expectations for behavior—not only through communications and policies but also by modeling the right actions themselves. Research shows that when managers take security seriously, their subordinates do too.

If you could correct one major misconception about cybersecurity, what would it be?

The biggest misconception is that cybersecurity is just about technology. It not—it about strategic choices. No one can be 100% secure, and security requires effort and sacrifices. The real challenge is deciding what to prioritize and what risks you’re willing to live with. That as true for companies as it is for all of us at home.

As cybercriminals use generative AI to craft more convincing scams, Leeds School of Business expert Sebastian Schuetz shares tips for protecting yourself.

Traditional

White

How privacy rules meant to protect consumers may hurt small businesses

Katy Hill — Tue, 07 Oct 2025 18:47:13 +0000

How privacy rules meant to protect consumers may hurt small businesses Katy Hill Tue, 10/07/2025 - 12:47

Katy Marquardt Hill

Laws designed to safeguard Americans’ online privacy may come with hidden costs to small businesses, according to new research co-authored by John G. Lynch Jr., a consumer behavior expert at the Leeds School of Business.

John Lynch

While rules modeled on Europe General Data Protection Regulation, or GDPR, have given people more control over their data, Lynch and his co-authors found that they can also reduce innovation, raise compliance costs and worsen inequities among consumers. The findings arrive as nearly 20 U.S. states have passed comprehensive privacy laws and Congress continues to debate federal standards.

“Privacy protections are important, but we need to recognize the trade-offs,” said Lynch, a Distinguished Professor at Leeds. “When regulations are written without considering how consumers and small firms actually use data, they can end up favoring big business and incumbents and stacking the deck against the little guy.”

These rules don't just affect businesses. They change what products reach consumers. For example, entrepreneurs have used digital targeting to launch products in markets that had previously been ignored—from nonalcoholic beer to specialized beauty products for Black women. Lynch cited Black Travel Box and Athletic Brewing Company as examples of companies that grew by reaching niche customers through personalized ads.

The study, published in August by the Marketing Science Institute, pulls together findings from dozens of research papers on privacy rules worldwide. Among the findings:

Small businesses bear the brunt. After Europe GDPR went into effect, smaller firms saw data storage costs rise disproportionately. One analysis found compliance raised costs by more than 20%. Moreover, small firms bear greatly increased costs of marketing and customer acquisition compared to large firms, Lynch said.
Innovation slows. Regulations restricting the use of consumer data have been linked to a decline in new apps, venture capital investment and disruptive products. “Before digital advertising, only companies with massive budgets for TV advertising could reach consumers. Privacy rules risk rolling back the clock,” Lynch said.
Consumers lose personalization and access. Privacy limits make it harder for firms to tailor offerings. That can reduce value for people with niche interests and sometimes exclude marginalized groups from opportunities like credit, jobs or housing. For poorer consumers, the problem is that firms unintentionally exclude them, Lynch said. Companies don’t have enough information to know those customers are likely to buy, so they don’t bother advertising to them, he said.
The benefits tilt to the well-off. Research shows that wealthier, older and more educated consumers value privacy most. By contrast, younger and lower-income consumers often benefit more from data sharing because it gives firms the information they need to serve them better.

One of the key concerns about personalized marketing is that it will lead to discrimination against low income consumers—for example via personalized pricing, Lynch said. “In general, personalized pricing, as in airline pricing, leads to higher prices for those most able to pay: While wealthier passengers may pay more, lower-income consumers can often gain access at a price they can afford through personalized fares,” he said.

Privacy rules that limit targeted advertising, Lynch warned, risk closing off those opportunities for both consumers and small businesses. He argued that the common perception of personalization as predatory misses the bigger picture—that data often helps expand access rather than restrict it.

“It not that personalized marketing is ripping off consumers,” Lynch said. “The net effect is you get more coverage of the market, so poorer people can get things they previously either were not offered or couldn’t afford.”

Fairness and privacy

The paper also notes that emerging privacy-enhancing technologies, such as Google “Privacy Sandbox,” could balance protections with innovation. But these tools are expensive to adopt, giving large tech firms an edge while smaller companies struggle to keep pace.

Lynch said the key is designing smarter rules. “We don’t have to choose between privacy and innovation,” he said. “But regulators need to weigh unintended consequences so that protecting consumers doesn’t come at the expense of fairness, competition and opportunity.”

Europe is already reconsidering the impact of GDPR as investment and competitiveness lag, Lynch noted. The U.S. has an opportunity to learn from those missteps.

Lynch, who in 2025 received the American Marketing Association highest honor for distinguished marketing educators, said he hopes his team research will help guide policymakers toward solutions to protect people data without stifling the innovation that makes the digital economy thrive.

Aside from Lynch, the study researchers include Jean-Pierre Dubé of the University of Chicago; Dirk Bergemann of Yale University; Mert Demirer of the Massachusetts Institute of Technology; Avi Goldfarb of the University of Toronto; Garrett Johnson of Boston University; Anja Lambrecht of London Business School; Tesary Lin of Boston University; Anna Tuchman of Northwestern University; and Catherine Tucker of MIT.

New research finds that laws designed to safeguard personal data can backfire, slowing innovation, raising costs and leaving disadvantaged consumers behind.

Traditional

White

Protect your discoveries before you publish them

Elizabeth Lock — Mon, 29 Sep 2025 17:54:10 +0000

Protect your discoveries before you publish them Elizabeth Lock Mon, 09/29/2025 - 11:54

As a researcher, creator or inventor at �Ͼ�Ʒ��, protecting your innovations may be necessary to ensure they reach their full potential, benefiting society while securing recognition and opportunities for you.

Traditional

White

Why we laugh—or lash out—at political jokes

Katy Hill — Wed, 24 Sep 2025 21:07:48 +0000

Why we laugh—or lash out—at political jokes Katy Hill Wed, 09/24/2025 - 15:07

Katy Marquardt Hill

Political humor can amuse, provoke or even spark outrage, as seen in Jimmy Kimmel recent suspension.

�Ͼ�Ʒ�� Today spoke with Peter McGraw, director of the Humor Research Lab (HuRL) and a marketing and psychology professor in the Leeds School of Business, about why humor works when it threatening yet safe and why political jokes can split audiences between laughter and outrage.

Peter McGraw

How can comedy function as a political tool, and what makes some political jokes more risky than others?

To answer this, it important to understand what makes things funny in the first place. My research suggests humor arises when something is both wrong and OK at the same time—a violation that is also seen as benign. Miss one of those ingredients and you get either yawns (all benign, no violation) or outrage (all violation, not benign).

The effectiveness is obvious: We are delighted (and impressed) by people who can create benign violations and make us laugh—no easy task. In political comedy, a joke about events or figures can be used satirically (e.g., to speak truth to power) or to cope with upsetting events. However, the more divisive the topic, the harder it is to thread the needle and create something wrong and OK. Even when a comedian “succeeds” and some people are laughing, others can still be upset—they view the joke as wrong and not OK (all violation, not benign).

Are there patterns in how people respond emotionally to jokes about serious real-world events?

Yes. The common quip, “too soon,” is used when a comedian jokes about a tragedy that has just occurred. It harder to appraise a joke as “OK” when it is proximal in time (just happened), physical close (nearby), or social close (happened to us or our in-group). As distance increases—time passes, location is far, victim is a stranger or adversary—the situation is less threatening. Benign appraisals rise and laughter becomes a more likely outcome.

Do political affiliations shape how audiences perceive humor, and if so, how?

Yes. In-group versus out-group effects may be at play. The same line lands differently depending on who says it: When my side makes it, I might grant the benefit of the doubt; when their side makes it, I might hear an attack.

Moreover, research suggests that different political affiliations have different moral weightings, which alter what counts as a “violation” and what can be “benign.” Typically, liberals are more tuned into harm and fairness, whereas conservatives are more focused on loyalty, authority and purity. These are generalities and subject to individual differences, but as far as average group responses, these moral priorities affect what is viewed as wrong versus OK—again creating a situation where the same joke is met with laughter from some and outrage from others.

How does the media environment influence reactions to political comedy?

A 24/7 news cycle and the near-constant stream of social media that the average person consumes exposes more people to jokes that were once only viewed by the audience they were intended for. Their “non-audience” never heard the joke because there was no Twitter.

Political polarization also plays a role. With more people clustered at the extremes (on both left and right), there are simply more people with strongly opposing views. Combined with news that caters to one side or the other (rather than the middle—i.e., moderates), there is much more amplification of controversy than in the past.

What makes comedy build trust versus alienate or polarize audiences?

Intent and vulnerability of the target matter: Is the comedy meant to divide or unite, and who is the “victim” of the joke—someone in power or a true victim? All of this is subjective and interpreted differently depending on the audience.

In short, comedy is difficult to create. Even the best jokes don’t make everyone laugh. A host of factors—setting, intent, political affiliation, identity of the target and distance from the event—conspire to make something more or less funny.

�Ͼ�Ʒ�� Today regularly publishes Q&As with our faculty members weighing in on news topics through the lens of their scholarly expertise and research/creative work. The responses here reflect the knowledge and interpretations of the expert and should not be considered the university position on the issue. All publication content is subject to edits for clarity, brevity and university style guidelines.

Jimmy Kimmel's suspension shows how quickly political humor can spark outrage. �Ͼ�Ʒ�� professor and humor researcher Peter McGraw explains why some punchlines delight audiences while others trigger backlash.

Traditional

White

How does growing up poor influence financial decision-making? New study sheds light

Katy Hill — Tue, 23 Sep 2025 20:11:39 +0000

How does growing up poor influence financial decision-making? New study sheds light Katy Hill Tue, 09/23/2025 - 14:11

Katy Marquardt Hill

Does growing up poor shape the way people make financial choices later in life? A well-known 2011 study argued yes, finding that people who experienced childhood poverty were more likely to take financial risks and chase short-term rewards under conditions of uncertainty and threat. But new research from the Leeds School of Business suggests the reality is more complicated.

In a study published in July in the Journal of Experimental Psychology: Applied, former Leeds assistant professor of marketing Joe Gladstone and Leeds Ph.D. students Mallory Decker and Meredith Lehman aimed to replicate the 2011 study with a more representative and robust sample. They found that only part of the original research held up.

Their study showed that people who grew up in lower-income households were somewhat more likely to take financial risks in situations where they may feel threatened. But unlike in the earlier study, they did not consistently prefer short-term over long-term payoffs.

Childhood poverty explained less than 1% of the differences in risk-taking behavior, the researchers found.

“These results, while significant, were so small that it's hard to really say that they would make a meaningful difference to anyone in terms of their decision making,” Decker said.

The new study involved more than 1,000 U.S. adults recruited online, far more than the 71 university students included in the original study. Participants in the new study were about 40 years old on average and represented a wide range of incomes and education levels.

“Our findings show replication is important,” Lehman said. “With a larger and more diverse sample, we saw much smaller effects than the original study. That should cast doubt on whether we should be using small-sample studies as foundational without replicating.”

Mirroring the original study, the new study randomly assigned participants to one of two groups. One read a news-style article describing recent trends toward violence and death in the U.S. The other read a neutral story about someone losing their keys. Afterward, participants completed two decision-making tests: One measured risk-taking by asking them to choose between a guaranteed payout or a gamble for more. The other measured their tendency to favor immediate rewards over larger ones later.

The new study asked about participants’ socioeconomic background in both childhood and adulthood, while the original focused solely on childhood. Questions covered whether families had enough money growing up, how wealthy their neighborhood felt, and how they compared themselves to peers. In the new study, similar questions assessed their current financial circumstances.

A subtler effect than headlines suggest

The new findings suggest that growing up poor does leave a mark on financial behavior in stressful situations—but it is not destiny. “We don’t want people to think they’re doomed to make riskier choices because of their background,” Decker said. “The effect is subtle compared to all the other factors that influence financial behavior.”

That nuance matters, the researchers argue, because small-sample studies can exaggerate the importance of a result. “When you scale up, you often see the effects shrink,” Lehman explained. “That doesn’t mean the original work was wrong—it just means we need to be cautious about applying it too broadly without replication.”

More complex than one theory

The 2011 study was rooted in the Life History Theory, which suggests that people adapt decision-making strategies to their early-life environments. Under that model, growing up in scarcity pushes people toward taking risks and seeking immediate rewards when threats loom.

The new study only partially supported that explanation. Risk-taking did increase slightly for participants from poorer backgrounds when put in a position where they may feel threatened. But the tendency to favor short-term payoffs over long-term gains did not materialize.

Age may play a role: With an average age around 40, the new sample looked different from the group of college students in the earlier study.

“We think age and life stage might matter a lot more than the original framework accounts for,” Decker said. “That a question future research should dig into.”

Why replication matters

The study took root in Gladstone doctoral seminar on marketing research, which focused on the “replication crisis” in the social sciences. In recent years, psychologists, economists and others have raised concerns that many high-profile findings don’t hold up when repeated with new samples.

As students in Gladstone seminar, Lehman and Decker helped select the widely cited 2011 study to focus on. Despite two other subsequent attempts in small samples, no one has been able to replicate those original findings. What started as a class project grew into a multi-year research effort and ultimately, publication.

“Replication is not as incentivized within research. It not as flashy as discovering something new,” Lehman said. “But replication is really important for making sure we have a solid foundation for the research and what it really means on a practical level in people's daily lives.”

Research has long linked childhood poverty to financial risk-taking in adulthood. But a new analysis casts doubt on this stereotype.

Traditional

White

�Ͼ�Ʒ�� launches new master's degrees in sustainable business, engineering

Katy Hill — Mon, 22 Sep 2025 18:08:20 +0000

�Ͼ�Ʒ�� launches new master's degrees in sustainable business, engineering Katy Hill Mon, 09/22/2025 - 12:08

Katy Marquardt Hill

Beginning fall 2026, students can enroll in the Master of Science in Sustainable Business through the Leeds School of Business and the Master of Science in Sustainable Engineering through the College of Engineering and Applied Science.

The University of Colorado Board of Regents approved the nine-month programs in June 2025. The degrees represent a new model of cross-college collaboration at �Ͼ�Ʒ��, uniting expertise from business, engineering and the natural sciences to prepare students for the global demand for sustainability jobs. The launch also builds on �Ͼ�Ʒ�� reputation as a national leader in sustainability education offering graduate students immersive, interdisciplinary programs designed for real-world impact.

“These two new master degree programs mark major milestones in our ongoing efforts to respond to student demand by incorporating sustainability—one of our four campus priorities—into our curriculum and preparing them to create lasting positive impacts in their communities,” said �Ͼ�Ʒ�� Vice Chancellor for Sustainability Andrew Mayock. “Efforts like this to produce the next generation of sustainability leaders complement our holistic campus work in the areas of groundbreaking research, campus operations and campus and public engagement.”

Each program requires 30 credit hours and emphasizes immersive, interdisciplinary learning. Students will gain skills to lead sustainability initiatives in corporate, engineering and policy environments, building on �Ͼ�Ʒ�� decades-long reputation as a global leader in sustainability.

The Master of Science in Sustainable Business gives students the analytical and leadership skills employers are seeking as they navigate the transition to a more sustainable economy, said Vijay Khatri, the Tandean Rustandy Endowed Dean of the Leeds School of Business. “What sets this program apart is the way it brings together expertise across campus to prepare graduates to embed sustainability into business strategy in ways that strengthen organizations and create value for their communities,” Khatri said.

“These new programs prepare students to lead in sustainability and to think critically, communicate effectively and solve complex problems across contexts,” said Daryl Maeda, interim dean of the College of Arts and Sciences. “At �Ͼ�Ʒ��, we’re committed to preparing students with the skills and perspectives they need to thrive in their careers and throughout their lives. These immersive, interdisciplinary programs will empower students to contribute to building a more sustainable world.”

Drawing on faculty innovation and Boulder thriving research and entrepreneurship ecosystem, the program is preparing the next generation of sustainability-focused engineers, said Keith Molenaar, dean of the College of Engineering and Applied Science at the University of Colorado.

"The future of our planet depends on how we engineer the systems that power, build and sustain our world,” said Molenaar. “This new program empowers students to lead with purpose—embedding sustainability into every design decision while balancing technical excellence, ecological responsibility, economic resilience and human-centered outcomes.”

A campus rooted in sustainability

Sustainability is one of �Ͼ�Ʒ�� four institutional priorities, and the campus has been recognized nationally for its research, operations and student life. Recent achievements include:

STARS Gold rating for campus sustainability efforts (2025)
Top 15 national ranking for sustainability among U.S. universities (2024)
No. 1 ranking for plant-based dining and sustainability (2025)
Establishment of the Buckley Center for Sustainability Education to lead campus-wide curriculum innovation and student engagement in sustainability (2025)

The new master programs build on that tradition, preparing graduates to navigate the fast-changing world of sustainability, from shifting regulations and investor expectations to climate challenges.

“These new master programs in sustainable business and sustainable engineering follow a rich vein of similar interdisciplinary programs that have been launched at �Ͼ�Ʒ�� over the past few years,” said E. Scott Adler, dean of the Graduate School and vice provost for graduate affairs. “I applaud the colleges for coming together to take this innovative approach to train and educate the next generation of sustainability leaders.”

How to apply

Applications for the first cohort of both programs are already open. More information on admissions, program structure and deadlines for the Masters of Science in Sustainable Business is available on the Leeds School of Business website. Information for the Masters of Science in Sustainable Engineering is available on the College of Engineering and Applied Science website.

The university is strengthening its role in sustainability education with two new graduate programs to prepare students for the growing demand for sustainability expertise.

Traditional

White

�Ͼ�Ʒ�� spinout Infleqtion going public with $1.8B valuation

Megan Maneval — Wed, 17 Sep 2025 13:28:59 +0000

�Ͼ�Ʒ�� spinout Infleqtion going public with $1.8B valuation Megan Maneval Wed, 09/17/2025 - 07:28

Infleqtion, a �Ͼ�Ʒ�� quantum technology spinout valued at $1.8 billion, has announced a merger to go public, becoming the 10th "unicorn company" out of �Ͼ�Ʒ��.

Traditional

White

�Ͼ�Ʒ�� ranked No. 1 in startups based on university discoveries

Elizabeth Lock — Mon, 15 Sep 2025 18:16:16 +0000

�Ͼ�Ʒ�� ranked No. 1 in startups based on university discoveries Elizabeth Lock Mon, 09/15/2025 - 12:16

�Ͼ�Ʒ�� launched 35 startups based on university intellectual property in fiscal year 2024, more than any other U.S. campus that year. The achievement also places �Ͼ�Ʒ�� at No. 2 for the most startups launched in any single year by a U.S. campus.

Traditional

White

Want to get ahead at work? Learn to be funny

Katy Hill — Wed, 10 Sep 2025 14:02:00 +0000

Want to get ahead at work? Learn to be funny Katy Hill Wed, 09/10/2025 - 08:02

Katy Marquardt Hill

Humor in the workplace has long been seen as a soft skill, useful for breaking the ice or bonding over awkward moments on Zoom. But Tony Kong, professor in the Leeds School of Business, believes it far more than that. A leading researcher on workplace humor, he sees it as a powerful leadership tool that could help professionals navigate power dynamics, build trust and even elevate their status on the job.

Tony Kong

“Humor is a life skill. It great at a party, and it great in a meeting. But it not just about being funny. It about understanding your audience, your timing and your intent,” said Kong, who also directs Leeds’ Business Leadership Certificate program. “When done right, humor can increase trust, boost creativity, promote emotional well-being and even facilitate conflict resolution.”

An emerging field

Once dismissed as more playful than practical, humor is gaining traction as a serious subject of study in management. Researchers have been exploring its impact—both positive and negative—on leadership, negotiations, team dynamics and workplace culture.

Kong has spent a decade studying humor in professional settings and has published numerous papers on its role in leadership and organizational settings.

“There been a surge in research,” said Kong. “People are realizing humor plays an important role in negotiations, leadership, teamwork and culture. It also important to people health and well-being.”

His latest research proposes a framework for understanding workplace humor that shifts the focus from the content of the joke to the motive behind it. Instead of labeling humor as sarcastic, dry or self-deprecating, he classifies it by purpose: Is the humor meant to build connection, ease tension, impress others or cover up discomfort?

That perspective echoes what leadership coaches have noted—that humor can build inclusion, ease tension and break down hierarchies, but it also often misunderstood. Kong advice: Think more about how your intent will be received. “One should take the perspective of the audience and think ahead whether and how a joke can convey a constructive motive and thus be appreciated in a given situation,” he said.

Humor is a powerful but risky tool, Kong added, especially in diverse or global workplaces.

“Humor can be inclusive or exclusive,” Kong said. “It can strengthen bonds or reinforce hierarchies. That why we need to study it more seriously, especially in diverse and cross-cultural settings.”

10 reasons we tell jokes at work

Researchers classify our reasons for telling jokes into two broad categories: agentic motives, which aim to advance personal goals or influence others, and communal motives, which focus on connecting with people and building relationships.

Agentic motives:

Attack or demean third parties
Attain status
Ingratiate
Motivate
Relay information
Subvert authority

Communal motives:

Alleviate boredom
Build rapport
Seem more approachable
Signal solidarity and inclusion

Intent matters

Kong newest research on workplace humor, published online in May in the Journal of Management Studies and co-authored by Cecily D. Cooper of the University of Miami in Florida and Sharon B. Sheridan of Clemson University in South Carolina, draws on six studies and more than 1,000 participants. The goal: to rethink how humor is measured and studied in organizations and to build a stronger foundation for future research. The findings suggest that whether humor helps or harms depends less on the joke itself and more on how it is perceived.

For example, a roast or teasing among colleagues might seem risky on the surface, but when interpreted as communal (for example, relationship-building) rather than self-serving or aggressive, it can build trust. One study cited in the paper found that “putdown humor” among police officers fostered team cohesion when framed as a sign of group belonging.

“Humor is all about how it received,” Kong said. “The same joke can land very differently depending on who tells it, who hears it, when and how it told, and what the perceived motive is.”

That perception can matter in high-stakes situations, too, like job interviews. A well-placed joke, particularly one that reveals self-awareness, can be disarming and memorable. However, a bad joke or over-use of jokes can undermine one credibility and create awkwardness.

“Answering ‘What your greatest weakness?’ with a bit of humor can work—if it shows authenticity and emotional intelligence,” Kong said.

But humor can also backfire. Kong points to recent research by organizational scholars showing that employees often feel pressured to laugh at a boss jokes, regardless of whether they’re funny. That kind of “forced laughter,” Kong says, can contribute to emotional exhaustion and job dissatisfaction.

A teachable tool

So what does this mean for ambitious professionals? As Kong sees it, humor is a strategic skill worth developing.

He believes business schools—and business leaders—should take humor seriously, as it a fundamental element of interpersonal communication and it intersects with power, status, inclusion, creativity, trust, ethics, psychological safety and well-being.

“Business schools have a lot to gain from incorporating humor into their curriculum,” Kong said. “I’ve been exploring and ideating how to teach it through both research-based insights and interactive learning experiences in business schools in different regions of the world.”

Some MBA programs are beginning to explore humor more formally. For example, Stanford business school offers a course on humor in business, focused on using levity to build stronger teams and drive innovation.

While the goal isn’t to turn business school students into comedians, Kong said, teaching future leaders to read the room, build genuine and healthy connections with humor, lead with authenticity, and help others enhance emotional well-being can give them a competitive edge in today dynamic, fast-changing and stressful workplaces.

Plus, humor can help people laugh together, and leaders should laugh with others. Humor, when used appropriately, can create a more cohesive, egalitarian, and healthy workplace in which people thrive, Kong said lightheartedly, adding: “We take our work seriously, but can we not take ourselves too seriously?”

Organizational leadership expert Tony Kong says humor is a strategic skill that can help you lead, connect and stand out—and his research shows why intent matters more than the punchline.

Traditional

White

Business & Entrepreneurship

The penny's days are numbered: What the change means for your wallet

Why is the government ending penny production now, and what the economic rationale behind it?

What does it mean for consumers when cash transactions are rounded to the nearest five cents?

Are there any historical or international precedents for eliminating low-value coins?

How might this affect low-income consumers or people who rely more on cash?

Could getting rid of the penny impact prices or inflation in any meaningful way?

What are the logistical challenges businesses and banks might face in transitioning to a penniless economy?

Beyond manufacturing cost, are there other arguments for or against keeping the penny—like tradition, symbolism or jobs?

Looking ahead, could this set the stage for phasing out other coins—like the nickel—or accelerating a move toward a cashless economy?

What should we do with the pennies we have at home? Will they become worth more or collectable?

Related Articles

How to outsmart online scammers in the age of AI, according to a cybersecurity expert

Why do so many people still fall for phishing emails and online scams, even when they know to be cautious?

What are some of the most common mistakes people make when it comes to passwords and online security?

How have cybercriminals’ tactics evolved, especially as more of our shopping and banking happens online?

With the holidays approaching, what are the biggest digital threats consumers should watch for when shopping or donating online?

In terms of the human side of cybersecurity, what does research tell us about how habits and emotions shape our digital safety decisions?

Are there small, practical steps that make a big difference in protecting personal data—things people can do today without extra software or tech skills?

For companies or leaders, what role does culture or leadership play in keeping employees vigilant against attacks?

If you could correct one major misconception about cybersecurity, what would it be?

Related Articles

How privacy rules meant to protect consumers may hurt small businesses

Fairness and privacy

Related Articles

Protect your discoveries before you publish them

Related Articles

Why we laugh—or lash out—at political jokes

How can comedy function as a political tool, and what makes some political jokes more risky than others?

Are there patterns in how people respond emotionally to jokes about serious real-world events?

Do political affiliations shape how audiences perceive humor, and if so, how?

How does the media environment influence reactions to political comedy?

What makes comedy build trust versus alienate or polarize audiences?

Related Articles

How does growing up poor influence financial decision-making? New study sheds light

A subtler effect than headlines suggest

More complex than one theory

Why replication matters

Related Articles

�Ͼ�Ʒ�� launches new master's degrees in sustainable business, engineering

A campus rooted in sustainability

How to apply

Related Articles

�Ͼ�Ʒ�� spinout Infleqtion going public with $1.8B valuation

Related Articles

�Ͼ�Ʒ�� ranked No. 1 in startups based on university discoveries

Related Articles

Want to get ahead at work? Learn to be funny

An emerging field

Intent matters

A teachable tool

Related Articles