Monday, May 25, 2020

Appraising model of rational consumerism in the Market - Free Essay Example

Sample details Pages: 11 Words: 3198 Downloads: 5 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? Where decisions take place in world of certainty, consumers know for sure the utility they will receive given a choice of goods, but when this certainty is removed and a series of different outcomes may occur, then individuals will react differently, given their attitudes towards risk. Firms know for sure the profit they will receive from a chosen set of inputs, this does not describe the real world, technological uncertainty, market uncertainty, and many other issues cannot be addressed without considering uncertainty, e.g. stock market, insurance, futures markets. Don’t waste time! Our writers will create an original "Appraising model of rational consumerism in the Market" essay for you Create order When people have to make decisions in the presence of uncertainty rational decision making still exists. The standard tools for analyzing rational choice can be modified to accommodate uncertainty. A person in an uncertain environment chooses among contingent commodities, whose value depends on the eventual outcome or state of the world. As with ordinary commodities, people have preferences for contingent commodities that can be represented by an indifference map. The slope of the budget constraint between two contingent commodities depends on the payoff associated with each state of the world. The curvature of the indifference curve depends on whether the individual is risk averse, risk loving or risk neutral. A risk-averse person will not accept an actuarially fair bet. Risk-averse people purchase insurance in order to spread consumption more evenly across states of the world. When risk-averse people are allowed to purchase fair insurance, they will insure themselves fully in th e sense that their consumption is the same in every state of the world. The amount of insurance demanded depends on the premium and on the probability that the insurable event will occur. People with von Neumann-Morgenstern (1944) utility functions, in which the probability of each state of the world is multiplied by the utility associates with that state of the world, seek to maximise the expected value of their utility. The assumption of expected utility maximisation, together with decision trees, can be used to break up complicated decisions into simple components that can be readily solved. By comparing the expected utility of each option, the individual can determine their optimal strategy. An individuals attitude towards risk, previously described as being either risk loving, risk hating or risk neutral, and the extent to which they fit into these categories will vary, as some people will be more risk loving than others, which could also be described as their risk aversion preference. The Arrow-Pratt coefficient for risk aversion for a utility function is given by r(w)=u'(w)/u(w). This is a measure of the curvature of the utility function and measures the marginal willingness to pay for a mall change in the absolute risk. The measurement can be understood in relation to the concept of an acceptance set, A(w), which is the set of all gambles than an individual will accept given their current wealth, w. There are implications of changing absolute and relative risk aversion, with the most straightforward implications of increasing or decreasing absolute or relative risk aversion, and the ones that motivate a focus on these concepts, occurring in the context of forming a portfolio with one risky asset and one risk-free asset, Arrow (1971), Pratt (1964). If the person experiences an increase in wealth, they will choose to increase, keep unchanged, or decrease, the number of dollars of the risky asset held in the portfolio if absolute risk aversion is de creasing, constant, or increasing. Economists, generally, avoid using utility functions, because of the unrealistic behavioural implication. Also, if the person experiences an increase in wealth, they will choose to increase, or keep unchanged, or decrease, the fraction of the portfolio held in the risky asset, depending on their relative risk aversion. As a theory of individual behaviour, the expected utility model shares many of the underlying assumptions of standard consumer theory, yet, the expected utility theory comes under criticism by Rabin Thaler (2001). They argue that expected utility theory is inadequate to explain risk aversion and hence should be discarded as a theory of choice under risk and uncertainty. Watt (2002) addresses this argument stating that all the exercises in Rabin Thaler (2001) demonstrate only that an unrealistically high degree of risk aversion produces preposterous results. For a person with a high level of wealth to turn down a bet for moderate stakes that has a positive expected value will require either an unreasonably high level of risk aversion, or some other unusual peculiarity in the utility function. Under standard models of risk aversion, their large-scale bets will not be rejected and neither will their moderate-scale bets. Expected utility theory certainly faces problems in explaining certain empirical evidence, as do other competing theories. But in this case, it reveals a useful truth, that risk-averse, wealth-loving people should be willing to accept certain moderate bets with positive expected value, even though at first glance, the bets may not appear attractive to them. Expected utility theory is normative as some people believe that the empirical evidence does not remove the expected utility hypothesis from being a normative theory. It reflects how people ought to behave in order to maximise their well-being under uncertainty. Indeed, many people correct their decisions once their error is pointed out to them. Others think that the theory is just plain wrong. Each axiom is open to scrutiny in this regard, such as the independence axiom, which is not always believed to be intuitive. Considering the lottery as a whole, rather than assume independence between the components, may be a solution to this. People try and avoid disappointment in making their decisions, and so a prospect with a small probability of receiving  £0 might be enough to deter someone. There are two different issues that are often discussed of the expected utility theory, firstly, the technical, and secondly, the normative. The technical issue is that this theory is analytically convenient, in the sense that it is pervasive in economics. Whereas the normative issue that is discussed by many economists is that expected utility may provide a valuable guide to action, as people often find it hard to think systematically about risky alternatives. Also there is the issue of the Allais Paradox (1953), which is an example of choice behaviour that can be explained under anticipated utility theory. In the paradox, an individual is asked to choose between two gambles. Gamble A, where an individual has a 100% chance of receiving 1 million or Gamble B, where the same person has a 10% chance of 5million, an 89% chance of 1 million, and a 1% chance of nothing. An individual must pick one of these gambles, and then consider the following two gambles. Gamble C, with an 11% chance of 1million, and an 89% chance of nothing. Gamble D, with a 10% chance of 5million, and a 90% chance of nothing. Again, the individual must pick one of these two preferred gambles. Many people prefer A to B and D to C. However, these choices violate the expected utility axioms. The evidence can be interpreted in light of the understanding of the expected utility theory as being positive or normative. If normative, it is evidence of irrational behaviour. If positive, it is a damning indictment of the theory. Various argumen ts have been posited defending the theory, firstly, that it is a normative theory, so if mistakes are highlighted, people will adapt their choices, also the theory is an approximation, which is a useful predictive tool. Expected utility is a theory of aggregate behaviour and the Allais paradox is an optical illusion. It has also been argued that experiments do not reflect real choices made by individuals. Machina (1982) has also developed a theory of choice under risk that allows for violations of the independence axiom. Machina (1982) proves that the basic results of expected utility theory do not depend on the independence axiom, but may be derived from the much weaker assumption of smoothness of preferences over alternative probability distributions. Unlike anticipated utility theory, Machinas (1982) theory does not employ a utility function that maps outcomes into the real line. The theory has no separation between outcomes and probabilities in the evaluation function. The re are alternative theories, such as Kahneman Tverskys (1979) prospect-theory, who formulate that uncertain outcomes are defined relative to a reference point, which is typically current wealth. Outcomes are interpreted as gains and losses. Risky outcomes are referred to as prospects and the decision maker is assumed to choose among alternative prospects by choosing the one with the highest value. The value of a prospect is expressed in terms of two scales, first, a decision weight function, ÃÆ' Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬, which associates with each probability, p, giving ÃÆ' Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬(p) reflecting the impact of p. ÃÆ' Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬(p) is not a probability p in evaluating a prospect. The value function assigns to each outcome x a number v(x), which encodes the decision makers subjective value of outcome. Kahneman Tverskys (1979) formulation focuses on simple prospects which have at most two non-zero outcomes. The theory can be extended to more complicated prospects, b ut this poses certain difficulties as it can violate dominance, and hence transitivity, among prospects with more than two outcomes. Potential violations may occur due to the fact that the decision weights in prospect theory are derived by applying the decisiotrn weighting function to individual probabilities rather than to the entire probability density of outcome (Quiggan, 1982). For example, in the market for insurance, assuming the probability of the insured risk is 1%, the potential loss is  £1,000 and the premium is  £15. In order to apply prospect theory, it is first necessary to set a reference point, such as current wealth. Setting the frame to the current wealth, the decision would be to either pay  £15, which gives the prospect theory-utility of u(-15), or a lottery with outcomes  £0, with a probability of 99% or a 1% chance of ÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒ ¢Ã¢â€š ¬Ã¢â€ž ¢Ã‚ £1,000, which yields the prospect-theory utility of w(0.01)x u(-1000) + w(0.99)x v(0). These e xpressions can be computed numerically. For typical value and weighting functions, the former expression could be larger due to the convexity of v in losses, and hence the insurance looks unattractive. Setting the frame to ÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒ ¢Ã¢â€š ¬Ã¢â€ž ¢Ã‚ £1,000, both alternatives are set in gains. The concavity of the value function in gains can then lead to a preference for buying the insurance. In this example a strong overweighting of small probabilities can also undo the effect of the convexity of v in losses, the potential outcome of losing  £1,000 is over-weighted. The interplay of overweighting of small probabilities and concavity-convexity of the value function leads to the so-called fourfold pattern of risk attitudes, such that risk-averse behaviour in gains involving moderate probabilities and of small probability losses; risk-seeking behaviour in losses involving moderate probabilities and of small probability gains. In the case of subjective probability theory, Savage (1954), argues that even if states of the world are not associated with recognisable, objective probabilities, consistency, such as restrictions on preferences among gambles still imply that decision makers behave as if utilities were assigned to outcomes, probabilities were attached to states of nature, and decisions were made by taking expected utilities. This rationalisation of the decision makers behaviour with an expected utility function can be seen uniquely, up to a positive linear transformation for the utility function. Ththeory is basically an extension and generalisation of the expected utility theory. The Ellsberg (1961) paradox concerns subjective probability theory. You are told that an urn contains 300 balls. One hundred of the balls are red and 200 are either blue or green. In gamble A, receive  £1,000 if the ball is red. In gamble B, receive  £1,000 if the ball is blue. An individual chooses which of these gambles they prefer, and then must con sider the following two gambles. Firstly gamble C, where an individual will receive  £1,000 if the ball is not red or gamble D, where the individual will receive  £1,000 if the ball is not blue. It is common for people to strictly prefer A to B and C to D. But these preferences violate standard subjective probability theory. To see why, let R be the event that the ball is red, and  ¬R be the event that the ball is not red, and define B and B accordingly. By ordinary rules of probability, p(R)=1-p( ¬R) p(B)=1-p( ¬B) Normalize u(0)=0 for convenience. Then if A is preferred to B, we must have p(R)u(1000)p(B)u(1000), from which it follows that p(R)p(B). If C is preferred to D, we must have p( ¬R)u(1000) p( ¬B)u(1000) from which it follows that p( ¬R) p( ¬B) However, it is clear that the above expressions are inconsistent. The Ellsberg (1961) paradox seems to be due to the fact that people think that betting for or agai nst R is safer than betting for or against blue. Opinions differ about the importance of the Allais (1953) paradox and the Ellsberg (1961) paradox. Some economists think that these anomalies require new models to describe peoples behaviour. Others think that these paradoxes are akin to optical illusions. Another theory of interest in choice under uncertainty is the state dependent theory. This theory discusses the idea that when there are only monetary outcomes from lotteries then a complete description of the outcome of a pound gamble should include not only the amount of money available in each outcome but also the prevailing prices in each outcome. State dependent utility could also be described as being the preferences among the goods under consideration depending on the state of nature under which they become available. An example from Varian (1992), of state dependent utility function, looks at health insurance, where the value of a unit of currency may depend on ones healt h. Varian (1992, p.190) asked the question how much would a million dollars be worth to you if you were in a coma?, and stated utility as a function of health and of money. Quiggans (1982) anticipated utility theory maintains properties of dominance and transitivity but employs a weakened version of the independence axiom. The model is consistent with a considerable range of choice behaviour that violates von Neumann-Morgenstern expected utility theory (1944). It also is free of the violations of dominance that can occur under prospect theory. Risk attitude under anticipated utility theory, discussed in Hilton (1988), follow Pratt (1964) and Arrows (1971) analysis of risk attitude under von Neumann-Morgenstern (1944) expected utility theory and characterize a decision makers attitude toward the risk inherent in a prospect by the decision makers risk premium for the prospect. Hilton (1988) also tests risk attitude under prospect theory, but slightly modifies the perspective on pro spect theory from the theorys original statement by Kahneman Tversky (1979), required by two features of prospect theory. First there is the problem of dominance violations, which Kahneman Tversky (1979) state that stochastically dominated alternatives are eliminated in the editing phase of the theory, acknowledging that such a procedure raises the problem of intransitivity. Bell (1982), Fishburn (1982) and Loomes Sugdens (1983) regret theory generalizes Savages (1954) mini-max regret approach. Choice is modelled as the minimising of a function of the regret vector, defined as the difference between the outcome yielded by a given choice and the best outcome that could have been achieved in that state of nature. A decision makers preference function is defined over pairs of prospects. It is possible that prospect A is preferred to B, B preferred to C, C preferred to A. Regret theory is another aspect of the rational consumer and the choice under uncertainty. The important compa rison is between what is, or the prize you win, and what might have been, or what you could have won. In the Allais (1953) paradox, in the first instance choosing A and receiving  £0, when the alternative was  £1000 with certainty, would generate considerable regret in some people, in fact there is regret with probability 1. However, winning  £0 in option C when there was only a 0.11 probability of winning something in option D, means that there is only an 11% chance of regret in choosing option C. This could rationalise the choice of B over A and then C over D. Regret theory is quite complicated as it implies that what is chosen is judged in relation to what is not chosen. Unlike other mental relationships such as fear and disappointment, which emerge from the comparison of components of a particular prospect, regret is defined across prospects. Hargreaves et al. (1994) explain that preferences need not be transitive, and this could lead to preference reversals. An example of this would be when choosing between X and Y, where X involves the chance of 1/3 of large regret if a green ball is pulled from the urn. If one chooses Y there is a 2/3 chance of regret, but it is less intense. This can lead to intransitive cycles in pair-wise comparisons, such that Y preferred to X, Z preferred to Y and X preferred to Z. So, this can be considered to be quite problematic. In conclusion, it is difficult to determine an accurate view of an individuals choice under uncertainty, due to the variety of different theories that have been proposed and the limitation of some of the assumptions made by these theories. Although some of the theories discussed are merely an extension of other theories, also discussed, they do allow for some of the assumptions to be ignored. It can also be argued that this is not entirely an issue for economics, but that psychology also plays a role in a persons decision making, as well as the value of the potential gain or loss, either in a m onetary or non-monetary sense, in establishing a realistic outlook on an individuals behaviour. References Biblography Allais, M., (1953) Le comportement de lhomme rationnel devant le risque: critique des postulats et axiomes de là ©cole Amà ©ricaine, Econometrica 21, 503-546. Arrow, K.J., (1971) The theory of risk aversion, in Aspects of the Theory of Risk Bearing, Essays in the Theory of Risk Bearing, Markham Publ. Co., Chicago, 1971, 90-109. Bell, D. E. (1982). Regret in Decision Making under Uncertainty, Operations Research 30: 961-981. Ellsberg, D. (1961). Risk, Ambiguity, and the Savage Axioms Quarterly Journal of Economics 75 (4): 643-669. Fishburn, P. C. (1982). Nontransitive measurable utility, Journal of Mathematical Psychology 26: 31-67. Fishburn, P. C. (1984). SSB utility theory: An economic perspective, Mathematical Social Science 8: 63-94. Gravelle H. and Rees R., Microeconomics, Longman, (3rd Edition), Ch 17, 19. Hargreaves, et al. (1994). The Theory of Choice: A critical guide. Blackwell. Hilton, R. W. (1988) Risk attitude under two alternative the ories of choice under uncertainty Journal of Economic Behaviour and Organization 9 (1988) 119436. North-Holland. Kahneman, D. Tversky, A. (1979). Prospect theory: An analysis of decisions under risk. Econometrica 47: 313-327. Loomes, G. and Sugden, R. (1982). Regret theory: An alternative theory of rational choice under uncertainty. Economic Journal 92: 805-825. Machina, M. J. (1982) Choice Under Uncertainty: Problems Solved and Unsolved The Journal of Economic Perspectives, Pratt, J.W (1964) Risk Aversion in the Small and in the Large, Econometrica, Vol. 32, p.122- 36. Quiggan, J. (1982) A theory of anticipated utility, Journal of Economic Behavior Organization, Elsevier, vol. 3(4), pages 323-343, December. Rabin Thaler (2001). Anomalies: Risk Aversion. Journal of Economic Perspectives. 15(1). Savage, L. J. (1954). Events, Utility and Subjective Probability, The Foundations of Statistics. New York, Wiley. Varian, H R. (1992) Microeconomic Anal ysis, Chapter 11, Norton. von-Neumann, J. Morgenstern, O. (1944) Theory of Games and Economic Behavior, Princeton, NJ, Princeton University Press, 1944. Watt, R. (2002). Defending expected utility theory Journal of Economic Perspectives. 16, pp227-229.

Friday, May 15, 2020

Teaching - 1801 Words

LESSON 1 1. Which of the instructional materials enumerated in this lesson do you often use? Are there categories you have not tried? Why? Materials often used: A. Printed and Duplicated Materials I do use a lot of printed materials in teaching my pupils. I do find that my pupils do better when we are making use of the board but I do need an evidence to show how the pupil is doing to their parent or guardian and that is by means of printed materials. B. Non-Projected Display Materials I handle kids with different needs; one for example is that I have pupils with Autism. Those who are on the spectrum learn best with visual materials that is why the center that I’m in has a lot of instructional materials to choose from.†¦show more content†¦Using Microsoft word in creating stories, paragraphs or any written expression helps the learners write grammatically correct sentences easily and learn faster. * Engaging. Others may find computers amusing while others may have access to the newest gadget in the market, over all it appeals to almost every learner, resulting to a favorable outcome for the teacher. 3. If your school has been using software in teaching, pick out a particular lesson or unit based on the software description. What are its merits as well as its limitations? Some of my pupils are children with autism. Part of their characteristics is that they have a hard time distinguishing others body parts from them. One computer application that we use is the â€Å"Our Body Parts†. This app helps my pupils identify their body parts and helps them understand that they can get things using their own hand. LESSON 4 1. Make 20 statements with equal numbers of positive and negative statements focusing on feelings and not facts/ ideas. a. Everybody listened to teacher. b. Patrcia will join the science quiz bee tomorrow. c. The class of Ms. Reyes did a wonderful job decoratin g their classroom. d. The junior scientist just won their 5th competition this school year. e. Mr. Villamor was just honored for being one of the most outstanding teacher in the Philippines. f. Francine gave her best in her science quiz. g. Harold and Elishia wil represent theShow MoreRelatedThe Teaching Of Language Teaching797 Words   |  4 Pageslanguage learner as they need to communicate with others. There is no doubt that different people learn languages in different ways and thus, there are various methods and approaches in the field of language teaching and learning to meet learners’ and teachers’ needs. The humanistic language teaching, which was really popular in the 1970s, is not easy to be d efined. It is difficult to explain the terms like humanistic and humanism. As Underhill (1983, p.131) said, ‘it is so emotionally loaded and so lackingRead MoreTeaching Methods And Styles Of Teaching848 Words   |  4 PagesEvery boss or teacher has his or her own teaching or leadership styles. There are various factors that determine one’s teaching method including the school mission, students’ likes and dislikes, number of students in a class, teacher’s educational philosophy, subjects they teach, and the purpose of instructions intended to be given to students (John 24). So, every teacher should choose a favorable method to teach students. This paper wishes to compare and contrast the styles of two of my teachersRead MoreDifference Between Teaching And Teaching Styles1667 Words   |  7 Pageshas a different teaching method, some people may think that the teaching methods are the same, but it is slightly different. This difference may be due to the di fferent subjects that the teachers are teaching or just the difference in personalities and teaching styles that each teacher has. These differences greatly affect students’ performances in numerous of ways that one could not possibly think of. I had observed in several of my classes to compare and contrast different teaching styles from myRead MoreTeaching Principles Of The Game Teaching Essay1782 Words   |  8 Pages3. Teaching principles in the use of the game teaching If teachers want to play a better role of game teaching, they must focus more on the following points. First, game contents and methods require national design. Based on game teaching, teachers will reasonably and flexibly arrange teaching activities, avoiding excessive interference on students. Through a series of activities, students’ attentions are kept so that the whole learning goes toward the direction of teaching principles. Second, gameRead MoreTeaching Methods And Strategies For Teaching Styles866 Words   |  4 Pagesa debate on what kind of teaching styles work best, what the best curriculum to teach is, or how to effectively organize your classroom. Yet, nobody has discovered what the most effective teaching methods are. As future teachers, we must constantly be making decisions that will shape us into the teacher we would like to become. Over the course of the next four years, and even once we become teachers with classrooms of our own, we will be exposed to many different teaching methods and strategies. ThereRead MoreOne Model Of Co Teaching Is Station Teaching992 Words   |  4 PagesOne model of co-teaching is station teaching. This is done when both teachers have shared responsibility for a lesson and are giving the less at the same time typically in the same classroom. Students are asked to move around the room in groups to each station after a set period of time so that they may receive all of the lessons presented at each station. One major advantage of this particular co-teaching method is that it involves both teachers so that responsibility for lesson planning andRead MoreGraduation Speech On Teaching And Learning And Interactive Teaching940 Words   |  4 Pagesenrolled in the Certificate in the University Teaching (CUT) program in spring 2014 right after completing the FUT program in winter 2014. Through the GS901 workshops, I learned about students’ traits and attitudes toward learning and interactive teaching through active learning. With regards to course design, I learned the importance of having an organized, yet flexible, course plan that is designed in equilibrium with course objectives and assessments. Teaching observation practicum, provided me withRead MoreTraditional Teaching Method Versus New Teaching Method1262 Words   |  6 Pagesgenerations which are considered the drive to innovation, social and economical growth (Damodharan Rengarajan 07). As mentioned by Damodharan and Rengara jan, the measure of efficiency in teaching narrows down to the methodology used in the teaching system. Frankly speaking, if we consider the available methods for teaching, the debate will definitely occur between the traditional teacher-centered systems versus more contemporary student – centered approach. Being told what to do to get an A is not simplyRead MoreThe Importance Of Teaching Writing899 Words   |  4 Pageswriting is a sub skill. Teacher E says, â€Å"[i]t’s a sub skill of course. It’s a sub skill but they are marked on it† (D3, line172). Like teachers, students perceive writing in the same way, Banan observed that teachers do not give much importance to teaching writing: Ive noticed that there is not much concern for writing. In the first level, they used to give us paragraphs and then let us write, memorize and train ourselves. We never had a real training on writing. They just let us write paragraphsRead MoreReflection On Effective Teaching1498 Words   |  6 PagesIntroduction In this analysis, my objective is to reflect on effective teaching and learning strategies and methods, using my personal experience in the classroom, as well as wider reading/research and university lectures, including my contextual analysis on my placement school (see appendix one). However, since there are so many dynamics to effective teaching and learning, one cannot put a finger on a single aspect and use that as a solution. With this in mind, I have chosen to look at two foci

Wednesday, May 6, 2020

Social, Historical and Cultural Contexts of Pride and...

Social, Historical and Cultural Contexts of Pride and Prejudice Introduction: In Pride and Prejudice we see the ups and downs of many different relationships and the growing obsession of Mrs Bennet to get her five daughters married to wealthy handsome young men. The novel is based on love, with marriage resulting in some cases. In the 19th century there werent many positions for work for middle or upper class women, so marriage occurred in many of their lives, resulting in a full time job of cleaning, cooking and looking after the children. This time was very different to today, as women still have all these jobs to do, but it is getting increasingly common for men to do them as well, leaving†¦show more content†¦The other type is the sort shown by Mr. Darcy, where he thinks he is above everyone, and looks down on people like the Bennets, who are less fortunate than him. The first character I am going to talk about is Elizabeth Bennet. Out of all the Bennet sisters, Elizabeth comes across the most headstrong one. She knows what she wants and wont agree to anything to anything that people want her to do if she doesnt want to. For examples, Mrs Bennet wants Lizzy to marry Mr. Collins and get quite overexcited at the thought of her daughters marrying, no matter who it is to. However, Lizzy is not attracted to Mr. Collins in the slightest, and makes this known in her several refusals to his marriage proposal. One of her other sister, such as Lydia - who is only interested in flirting, marriage, and men - mightve accepted Mr. Collins proposal, as it wouldve meant lots of money and big houses. Also, the higher status that would be acquired would tempt one of them to accept. We can see, quite clearly, that Elizabeth is the heroine of the story, and is the girl whom everyone likes and gets along with. The fact that she is so independent and head-strong is why Darcy becomes so attracted to her. Austen presents Lizzy as being less attractive than her older sister Jane, to emphasise her uniqueShow MoreRelatedJane Austen s Pride And Prejudice1693 Words   |  7 Pagesthe understanding of social, historical and cultural contexts through the reflections of illicit and explicit similarities and differences in the values and attributes presented. Jane Austen’s 1813 novel Pride and Prejudice and Fay Weldon’s 1993 epistolary text Letters to Alice, both challenge the worth of their time as contexts change, but values are upheld. Weldon’s reflection on Austen’s nineteenth century environment, conveys to responders how marriage, gender roles and social class continue toRead MoreThe Civil Unrest Of Laos993 Words   |  4 PagesLaos contributed to family imbalance by drastically changing the political, social, economic, and even the cultural context of Akamu’s world. Choudhuri, Santiago-Rivera Garrett (2012) point out that identity found in ethnic ity can be associated to a shared political, social, and economic interest. As Akamu’s family fled the political oppression in Laos, he experienced the social in-justice of the government and the prejudice that resulted most likely in the death of his brother. As refugees his familyRead MoreGood Morning Readplus Panel, Mount Alvernia Curriculum Leaders For English, And Fellow Students1573 Words   |  7 Pagesfor English, and fellow students. â€Å"Pride and Prejudice† is a well-known novel by Jane Austen. Many people of different ages have at least heard of this book through various media adaptations. But how many have actually read it? â€Å"Pride and Prejudice† should be read by young adults and be included on the ReadPlus website because it is a work of literature that surpasses time. 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It is observed that the historical happenings have a great negativity on the face of the society, which is yet to be fixed. And so, the belief behind, digging up the past, is all about ‘’telling the story of human collaboration and independence (671), and by doing this act, tendRead MorePride and Prejudice and Letters to Alice on First Reading Jane Austen.1574 Words   |  7 Pagesrelationships and identity emerges from pursuing the connections between Pride and Prejudice and Letters to Alice on First Reading Jane Austen.’ Compare how these texts explore relationships identity. Through the contextualisation of texts, connections can be made which reinforce or challenge responder’s perspectives on universal values. Universal truths carry meaning which are able to transcend changes in social, cultural and historical context in order to continue influencing responders of today. The importanceRead MoreKnow Your Place Essay1879 Words   |  8 PagesJane Austen’s Pride and Prejudice is a Victorian era novel that chronicles the relationship of social status and love during early nineteenth century England. This gives readers a sense of how social structure during the eighteenth hundreds was shifting from heirs to earners with people vying to stay relevant and included in the upper class. Historically, the novel was hardly influenced by what was occurring during the time it was written which included the French Revolution and Napoleonic wars.Read More Explore Jane Austen’s attitude to marriage in Pride and Prejudice1671 Words   |  7 PagesE xplore Jane Austen’s attitude to marriage in Pride and Prejudice Looking at the social, historical and cultural context In the 19th century when Austen wrote ‘Pride and Prejudice’, the way in which marriage was viewed was very different. It would have been expected of a young woman to find a ‘suitable’ partner for marriage before they were thirty, as after this they could be seen as an embarrassment to their family. By suitable, it does not mean in the way in which marriage is viewedRead MoreJane Austens Influence on Literature: Pride and Prejudice1216 Words   |  5 Pagesto the survival of women during this time (Helms 32). Even knowing these qualities were important in her life she criticized them. Jane’s writing is somewhat comical, because even while criticising those normal discriminations in her book Pride and Prejudice, the book was published with a prejudiced nameless cover, shedding even greater light on the lack of sense and shortcoming of sensibility of eighteenth century Great Britain. So in order for women to hide their identity while writing about thingsRead MoreEssentialist and Post Structuralist Theories of Race and Ethnicity2277 Words   |  10 Pagesargument that race and ethnicity are social constructs but not absent of essentialist influences. Following a self reflection of my own identity the similarities between Eva and I show a congruence between essentialist perspectives of race and ethnicity to the existence of ethnic tensions and prejudice. In the context of Post structural theory it will be argued that it offers a more realistic and progressive appraisal of identity as fluid and changing through social contexts. Differences between Eva’s and

Tuesday, May 5, 2020

Environmental Impact Reduction of Commercial

Question: Discuss about the Environmental Impact Reduction of Commercial. Answer: Introduction The Changi Airport group is the wholly owned subsidiary that deals with the management of the airports globally. The Singapore Changi Airport group is the leading manager of providing services in the aviation sector. It has been seen that the airports are the main parts of the infrastructure of the country as well a the economic development. Talking about the global experience of the Chagi Airport, Then the company already built 50 airports including Singapore Changi group in minimum 20 countries. This report outlines the human resource management planning of Chingi Airport group that focuses on the motivation of the employees, their performance as well as the career planning. The report focused on many theories and concepts identified by the famous authors like Maslow, Stone and Mathis. The report explains the job enlargement concept also. There are basically 4 environmental factors that affect the culture, management and the structure of the Changi Airport group. According to Stone (2005) there are four main trends or factors that affect the working of the aviation industry. The four factors are Political, Economic, Social, Technological, and this framework has a great impact on the airline industry. These environmental factors are not under the control of the Changi Airport group. The political factors involve into the interference of the government on the operations of the Aviation industry. The Aviation industry is the industry which operates in the political and legal environment. All the operations of the airline industries are regulated and restricted by the political environments. The interference of government in the operations is important for safety purposes as well protecting the interests of the passengers (Abdulkadir, 2012). The economic condition of the country is the important factor that affects the business as well all its activities. The economic condition or the economic health of the country can be measured by many indicators. The economic condition of the country can be measured through the per capita income of the country, gross domestic product and industrial growth. Moving further, the change in the prices of the oil is the major factor that may affect the profitability of the airline industry. Social and demographic factors These are the factors that affect the business of Changi Airport business with the changing preference regarding travel of the new generation. However, over the last years, the demand for the airports and the airlines is increasing which is beneficial for the business of the Changi group. The Forecasting of the demand of the generation for air travel can be done by the growth of the new generation. For example, the forecasting of the future demand of US tour and travel can be measured by the millions of generations (Gray-Mullen, 2011). This will depend on the age of the people like including 16 to 34 years old people in young generation. The technological factor is also very important factor in the business of airport management. The companies like Changi Airport group adopts the latest technologies to survive in the aviation sector with its competitors. It is the clear fact that the new technological airports and airlines leads to low fuel emissions, which maintain the cost as well as efficiency (Salah, 2014). Maslows Hierarchy of needs helps motivate employees Organizational behavior is the process with the help of which Chingi Airport group company can determine the expectations of the workers and found many ways to meet their expectations. The Chingi Airport group can offer incentives to its employees, when they know about the needs of the employees. The rewards and the incentives will depend upon the organizational need of the employees. Maslow, Herzberg and many people discovered many theories and concepts of the organizational behavior. It is very important to identify the needs of human being and there are many theories and studies that are applied to identify the needs (Wahba Bridwell, 1976)s. This is an obvious thing that every individual has needs and also fluctuates with the passage of time. The very popular theory is used to identify the needs developed by the Maslow. Maslow introduced hierarchy of five needs. Maslow Theory of identifying needs: -According to Maslows theory, there are five needs of the human beings (Jackson, 2012). The hierarchy of Maslows need starts with the physiological needs which are the basic needs of the any human being and these kind of needs include food shelter and clothing. The safety needs are those which are related to the job security, and security of resources. And also involve the needs of belongingness covers family, friendship etc. Moving further to the next level, the esteem needs which relate to the respect, self esteem, confidence etc. Moreover, the creativity and acceptance of the facts are the part of the self actualization. As per the view of the Maslow, one must satisfy the basic needs to fulfill the needs of the self actualization. Maslow believed that there dwells a certain number of needs in humans and those needs are met in a certain order (Kaur, 2013). According to the Mathis and Jackson (2000), there are four types of the incentives. First one is Financial incentives, second is non financial, third one is organizational and last is group incentives. Talking about the type of incentives, it will depend upon the nature and behavior of the employees working in the organization as there are many people who are satisfied with appraisal only and there are also employees who expects some financial rewards. Thus, it is important to analyze the actual requirement of the employees working in Chingi airport group (Jackson, 2012). Monetary rewards These types of rewards are beneficial to motivate and encourage the most of the employees in Changi Airport group. The form of giving the monetary or financial reward is bonuses,increments, promotions and salary hike, etc. Moreover, a company also offers some of the allowances for the accommodation, vehicles to satisfy and encourage the employees in the company. As a result of which, the company also offers the option of provident funds for the future savings of the employees. Organizational rewards: - The organization rewards stands for the distribution of the profits or income into the different employees who performed well. This will automatically encourage and motivates the employees to perform efficiently for the future. The Ching Airport group follows the policy to distribute the bonuses after a certain period of time like monthly yearly or half yearly. Non monetary awards: - Apart from the Monetary rewards, there is the option of non financial reward which is for those employees who work for the appreciation, not for the money. They need a non monetary incentives in the form of appreciation, announcing best employer of the month, performance appraisal in front of the whole organization. The Chingi Airport group organized many events in which they appreciate the performances of the employees to motivate and encourage them to work harder. The chingi airport group announced the employee of the month on the basis of their performance and to tell the other employees that how important they are for the company. These are the best ways to motivate as they save the costs and time of the company(McNulty, 2006). There are a number of ways to offer the non financial rewards and they are as follows Employee recognition events organized on periodical basis. To appreciate, in front of the organization for the better productivity of Chingi Airport group. Offering vouchers and bonuses in the form of Gift cards as token of appreciation. To make the employees important , the company displays the name of the best employees on the notice board. Group incentives: - The company divided the employees into team and group to perform the particular task. The engagement of the employees into the important work of the company make them happy to be a part of the organization. It is very important to clarify and communicate the objectives of the company so that the employees working in teams perform well to achieve the objectives. The group incentives can be achieved by engaging the staff and it is very important as to increase the productivity and the employee engagement follows some steps like to prepare, include, communicate and then clarify. The group incentives are in the form of some movie tickets, entertainment packages, holiday packages for the employees. The engagement of staff in groups or teams results into the coordination and more positive results. (Gonzlez Hupe, 2007). Participation in Decision Making: - The participation of the employees in the decision making is the best tool to motivate and encourage them. The employees get motivated when the importance is given to their decisions and ideas . The employees ideas and their knowledge sometimes lead to good results. The positive point is that , it results into low absenteeisim of the employees in the company. (Team, 2010). Three points on the importance of performance appraisal and career planning Performance appraisal and the career planning are the two most important aspects. As we know that the employees are the most important tool of the organization. It is very important to value and appraise the performance of the new as well as the older workers, but also the HR professionals in Chingi Airport should plan and prepare for the exit from the workforce. The women HR professionals need to conduct some strategic workforce analysis to measure the loss of experienced talent in the coming years. It is very important to take care of the strategic planning and all the internal as well as external factors. The performance of the employees should be analyzed and then take the best decisions regarding the best performance of the employees and then appreciate the employees accordingly. Its very important to encourage the young generation as they come up with the new ideas and work for the company success as compared to the experienced people. It is essential to conduct the training se ssions and to share the relevant information with the employees to improve their performance. The clear description regarding the technology used should be given to these employees in the training program (CAI Team, 2017). The connection between the performance and the incentives given to them should be strong. The suggestion box rules in the Chingi Airport company also helps to know the drawbacks and flaws in the performance of the all the employees and how that can be improved. As it is clear from the name that job enlargement is the process of increasing the job tasks and responsibilities. The job enlargement has its positive as well as negative effects. A Job enlargement at the Chingi Airport group helpful in the improvement of the skills of the employees. The increase in the task will give them an opportunity to learn more about the new things. This increases the chances of earning capacity. As in the future period of time, the employees can bargain with the other employers for more salary (Adenle, 2011). From the prospective of the organization like Chingi Airport group, the employees are able to perform wide range of the activities and single employees holds multi activities at one time that makes the employees versatile. The next benefit is that the absenteeism of the employees will be reduced if the organization encourages its employees and create a feeling of importance in their minds.. Furthermore, If all the employees collectively motivated then it is an obvious that automatically, team work is promoted work together to achieve the goals and teamwork leads to efficiency. Also, it is beneficial in reducing the turnover of the organization because the company needs not to hire new employees in the organization. Disadvantages of job enlargement The disadvantages of the job enlargement are that it increases the burden of the work and it is not necessary that every company provides extra money for extra work. The Chingi airport group is the company who pays an extra amount for the extra work. By doing this, the Chingi group recognizes the efforts of the individuals working in the Singapore Chingi groups. The increase in the task and activities may result into the frustration of the employee when these activities of the employees result into no rewards, no promotions, no extra salary. Another problem exists with the job enlargement is that the union members of airlines group may consider this as an exploitation of the employees at the company and resist the employees to enter into the job enlargement. The main 3 factors that resist the employees to enter into the process of job enlargement and these are the frustration of the employee, no extra money or salary and the overburden of the work on. It is important to hire young people in the organization but on the other hand, it is also important to retain the expert people. Both the generations have its pros and cons. Both of them are needed in the organization and their importance is equally same. But retaining the old employee as well as training the new employees is quite an expensive process Conclusion The whole report is based on the employee recognition and their motivation in the company. The company chosen for this report is a Singapore Chingi group that deals with the management of the airports . The company expects that the employee are very important and their satisfaction is must for the successful growth of the business. References Abdulkadir, D., 2012. Effects of Strategic Performance Appraisal, Career Planning and Employee Participation on Organizational Commitment: An Empirical Study. 5(4), pp. 1-10. Adenle, C., 2011. 12 Reasons Why Employees Resist Change in the Workplace, Available at: CAI Team, 2017. Creating world-class airports worldwide. [Online] Available at: Gonzlez, R. Hupe, J., 2007. ICAO Environmental Report 2007, Available at: Gray-Mullen, P., 2011. Environmental Impacts of Aviation, Available at: Jackson, 2012. Human Resource Management: Wage, Salary and Reward Administration, Available at: Kaur, A., 2013. Maslows Need Hierarchy Theory: Applications and Criticisms. Global Journal of Management and Business Studies., 3(3), pp. 1061-1064. McNulty, R., 2006. Strategic review of general aviation in the UK, Available at: Salah, K., 2014. Environmental impact reduction of commercial aircraft around airports. Less noise and less fuel consumption. European Transport Research Review, March , 6(1), p. 7184. Team, H., 2010. Redeployment and Exit Strategies, Available at: Wahba, N. Bridwell, W., 1976. Maslow reconsidered: A review on research on the need hierarchy model, Available at:

Sunday, April 12, 2020

Producers(Career Paper) Essays - Music Production, Record Producer

Producers(Career Paper) Introduction I believe by researching this career, I will learn more about what its like to be a producer. I also believe that my research will help me choose what occupation Id like to have when I finish school. I chose this profession as the topic of my career paper because I want to learn more about it because I may be interested in going into this career. Job Description Producers have financial and administrative control over the making of movies, plays, and TV shows. Producers hire directors, principal members of the cast, and negotiate contracts with artistic personnel, often in accordance with collective bargaining agreement (Actors, Directors, and Producers 180). Together with the director, the producer also hires other members of the staff. A large staff includes several production assistants, associate producers, or assistant producers who are in charge of various parts of the production. These assistants help producers perform their task. During production, the producer is in charge of all the people involved in the movie, television, or theater project, including actors, directors, and production workers (CIC 154). Kaci Wall Anyone with enough money can produce a play or movie. A person successful in business who has contacts in the theater may raise the money to produce a play. Someone experienced in films, such as a director, may raise enough money to produce a film. Producers are entrepreneurs. They select plays or scripts, arrange financing, and decide on the size of the production and its budget. (CIC 154). Movie producers may be employed by film studios or may work independently. Producers who work for large film companies usually have experience both in films and business. The job of producer can be approached from either field. A lot of money goes into these productions, and the producers job is to raise the money needed and see that its spent wisely. Its the producers responsibility for ultimately turning a profit for the investors. A good producer would recognize a successful show or movie while its still in planning stages. A smart producer spots a bad idea, more often than not, before too much money is wasted on it (CIC 154). Kaci Wall Education Required There are no standard educational or training requirements for the position of producer (CIC 154). Most producers have studied film, video production, or drama at the college level. Many have also trained as actors in dramatic arts schools. People who may be accepted need at least a bachelors degree or two years of on-set experience and also must pass written tests. Courses in acting and communications can be helpful. College drama courses in liberal arts, stage speech and movement, directing, playwriting, history of drama, and design and play production can be helpful also. (GIS 1). Talent and experience are very important to getting a job in this field. Producers need good business sense to handle finances. Movie and play producers need to have enough personal contacts to be able to raise money, hire staff, and find distributors (GIS 1). Expected Earnings In general, the pay for producers is good. Producer salaries range from $25,000-$70,000. Executive producers make even higher salaries, sometimes up to $200,000. A producer can earn a few thousand dollars, or a Kaci Wall few hundred thousand dollars for a production. Those with larger budgets earn much more than other producers (GIS 1). Job Outlook The number of producers is small. Few new producers are hired each year by the large TV and film companies (CIC 155). Employment of producers is expected to grow faster than the average for all occupations through 2008. In addition, an even greater number of job openings are expected to arise from the need to replace workers who leave the field. Nevertheless, competition for these jobs will be stiff, as the glamour of actor, director, and producer jobs, coupled with the lack of formal entry requirements will attract many people to these occupations. As in the past, only the most talented will find regular employment (OOH). Contribution Entertainment is very important to society today, which is why I think this occupation is important. Most people like to watch television, movies, or plays, and without this option, many people would be very disappointed. Without producers, television programs, movies, and plays would not be possible. They are

Tuesday, March 10, 2020

Reflections on Dave (1993) essays

Reflections on Dave (1993) essays Released eleven years ago, Dave is a pleasurable treat for everyone as it is a comedy, romantic story and a political drama at the same time. Its a touching movie packed with a stellar cast and coupled with a solid moral plot. Ironically, this movie was about an impostor with a very good heart to humanity well, an impostor capable of feelings and dreams for his countrymen. In the beginning of the film, it was saddening to see that the President of the United States was such a cynical and power hungry person, and a womanizer at that. Hes someone whom you would most likely hate and I couldnt help but wonder why he was elected into office in the first place. Now, lets talk about Dave Kovic since I absolutely enjoyed watching him. He is so funny and witty that he steals every scene. Dave earns a modest living by running a small temporary employment office and occasionally picks up dollars impersonating the President doing things like riding a pig at places like local car dealerships. Then one day the Secret Service shows up in Dave's living room asking Dave to impersonate the President at a social function. The President is needed elsewhere. The elsewhere is an illicit meeting with one of his aides, and unfortunately the President suffers a massive stroke. At the urging of the White House Chief of Staff and Communications Director, Dave agrees to continue his role as the President. The plot of the movie thickens when what seemed to be a more temporary fill in of executive authority turned out to be a more serious look at the nations problems. The scenes wherein Dave is taught the basics of presidency were just priceless. I believe that h e is a good man with strong moral values. His initiative to help people he hasnt even met before is truly remarkable. We all wish we had politicians like Dave because everyone admires a man who is upright, honest, open and down-right responsible. ...

Sunday, February 23, 2020

Culture and ethical values Essay Example | Topics and Well Written Essays - 1000 words

Culture and ethical values - Essay Example 78). Each individual gives up his own power to the supreme sovereign, the ‘Leviathan’, whose authority is indivisible and unchallengeable. The ethic of self-preservation is the basic tenet of Hobbes’ framework. Because men cannot cooperate amongst themselves, the Leviathan is tasked with the protection of order, and its powers are unlimited. Such is the untrammeled power of the supreme sovereign – whether one man or an assembly – that it exercises the right of censorship over any and all expression and all property is subject to its laws. For Hobbes, â€Å"rebellion is but war renewed† (2005, p. 195); he understands that the Leviathan could very well become tyrannical, yet he maintains that even the worst form of despotism is preferable to the anarchy and chaos of the state of nature. Rebellion against government, thus, is explicitly wrong, not only because it is destined to fail, but also because it sets a poor example (Russell, 2004, p. 506). The only reprieve that Hobbes provides for the citizens of his commonwealth is that of self-defense: self-preservation being the highest goal of an individual, he reserves the right to defend his person. Any other means of resistance to government is culpable. Therefore, we can see that there is a very limited scope in Hobbes’ agenda to rebel against government: essentially, â€Å"Hobbes wants to show why we have to obey† (Harrison, 2003, p. 191). Hobbes’ fascination with authority and the unbridled faith he reposes in the sovereign are products, however, of how he feels a just society and a commodious existence can be best preserved. He â€Å"†¦insists that the natural condition [in the state of nature] is one of liberty, equality, and the most extensive individual rights imaginable. He argues, however, that these free and equal people are in a condition of utter wretchedness and insecurity – not in spite of their liberty and