Two Nations-Book Review Essays - Social Inequality, Discrimination

Two Nations-Book Review Essays - Social Inequality, Discrimination Two Nations-Book Review Book Review-Two Nations by Andrew Hacker In Andrew Hackers book, Two Nations, Hacker argues that blacks and whites live in two different worlds. He uses statistical evidence to prove that the United States is a nation of inequality, hostility, and separatism. Hacker uses a quote from Benjamin Disraeli in the preface that basically sums up his entire book, Two nations, between whom there is no intercourse and no sympathy; who are as ignorant of each others habits, thoughts, and feelings, as if they were dwellers in different zones, or inhabitants of different planets. This book reveals to all the real dimensions of race and how it controls lives and divides society. Hacker analyzes race in every aspect imaginable, such as politics, education, and crime. He shows how those in power use race as means of discrimination and domination. One issue Hacker addresses is Affirmative Action. I agree with his assertion that whites are afraid of it because they believe that it is enabling black America to be weak and subservient to the dictates of the society. However, Affirmative Action may be one of the few programs designed to help blacks. I also agreed with Hackers notion that society concentrates solely on black crime, but then looks away in instances of white crime. By white crime, Hacker means non-violent crimes like embezzlement and black crimes are the violent crimes like murder. Because society sees black crimes as more dangerous, they tend to ignore white crimes. As insightful as this book was, there was a great deal of things in it that I disagreed with. An issue brought up by Hacker that I disagree with is his perception that rape is a political act. Rape is an act of violence, whether white males commit it or black males or the victim is white or black. Rape is a horrible crime, politically motivated or not. I also disagree with Hackers belief that blacks have right to retribution because of the centuries they served as slaves. Please. Hacker was never a slave. Ive never owned a slave. What right does Hacker have in saying someone like him deserves retribution from someone like me? Hacker should realize that it is a new era, a new generation. Our generation shouldnt have to provide the black race with extra special treatment just because of what happened in the past. There was one section in this book that really touched a nerve. Hacker tends to think that his race is the only one that has suffered discrimination. He dismisses Hispanic and Asian discrimination as not so bad. He also says that terms like kike and spic do not have the same impact on a person as the term nigger. Being Jewish, I find it quite annoying that Hacker thinks he can answer for me by saying the term kike doesnt hurt my feelings as much as the term nigger hurts his. The Jews have been discriminated against more than anyone can possibly comprehend. From the inception of the Nazi party in 1933, Jews were deprived of all their civil right, persecuted, imprisoned and murdered. Eventually, they were herded into concentration camps in an attempt to eventually exterminate them all. During World War II, the Nazis had killed 6 million Jews out of a population of 8 million. Over the period of TWELVE YEARS 6 million Jews were murdered! Therefore, I believe that I have a stake to the cl aim of being a member of an ethnic group that has seen its share of discrimination. Hacker didnt bash the white race throughout he whole book. He also suggested that most blacks support double standards that they condemn whites for supporting. For example, Hacker said, most blacks find it acceptable to preserve black colleges, yet they object if a school designates itself as white. He also said that blacks would support a black political candidate just because he is black. However, if a white person votes for a white candidate, it is because they are racist. Finally, Hacker ends the book with the question, whom is responsible for all this? He says it is white America that made being a member of the black race so difficult. He may be right and he may be wrong by this.

Julius Caesars Civil War Battle of Pharsalus

Julius Caesars Civil War Battle of Pharsalus The Battle of Pharsalus took place on August 9, 48 BC and was the decisive engagement of Caesars Civil War (49-45 BC). Some sources indicate that battle may have taken place on June 6/7 or June 29. Overview With the war with Julius Caesar raging, Gnaeus Pompeius Magnus (Pompey) ordered the Roman Senate to flee to Greece while he raised an army in the region. With the immediate threat of Pompey removed, Caesar quickly consolidated his position in the western parts of the Republic. Defeating Pompeys forces in Spain, he shifted east and began preparing for a campaign in Greece. These efforts were hampered as Pompeys forces controlled the Republics navy. Finally forcing a crossing that winter, Caesar was soon joined by additional troops under Mark Antony. Despite being reinforced, Caesar was still outnumbered by Pompeys army, though his men were veterans and the enemy largely new recruits. Through the summer, the two armies maneuvered against each other, with Caesar attempting to besiege Pompey at Dyrrhachium. The resulting battle saw Pompey win a victory and Caesar was forced to back away. Wary of fighting Caesar, Pompey failed to follow up this triumph, preferring instead to starve his opponents army into submission. He was soon swayed from this course by his generals, various senators, and other influential Romans who wished him to give battle. Advancing through Thessaly, Pompey encamped his army on the slopes of Mount Dogantzes in the Enipeus Valley, approximately three and a half miles from Caesars army. For several days the armies formed for battle each morning, however, Caesar was unwilling to attack up the slopes of the mountain. By August 8, with his food supplies low, Caesar began debating withdrawing east. Under pressure to fight, Pompey planned to give battle the next morning. Moving down into the valley, Pompey anchored his right flank on the Enipeus River and deployed his men in the traditional formation of three lines, each ten men deep. Knowing that he had a larger and better-trained cavalry force, he concentrated his horse on the left. His plan called for the infantry to remain in place, forcing Caesars men to charge a long distance and tiring them before contact. As the infantry engaged, his cavalry would sweep Caesars from the field before pivoting and attacking into the enemys flank and rear. Seeing Pompey move off the mountain on August 9, Caesar deployed his smaller army to meet the threat. Anchoring his left, led by Mark Antony  along the river, he too formed three lines though they were not as deep as Pompeys. Also, he held his third line in reserve. Understanding Pompeys advantage in cavalry, Caesar pulled 3,000 men from his third line and arrayed them in a diagonal line behind his cavalry to protect the armys flank. Ordering the charge, Caesars men began advancing. Surging forward, it soon became clear that Pompeys army was standing their ground. Realizing Pompeys goal, Caesar halted his army approximately 150 yards from the enemy to rest and reform the lines. Resuming their advance, they slammed into Pompeys lines. On the flank, Titus Labienus led Pompeys cavalry forward and made progress against their counterparts. Falling back, Caesars cavalry led Labienus horsemen into the line of supporting infantry. Using their javelins to thrust at the enemy cavalry, Caesars men halted the attack. Uniting with their own cavalry, they charged and drove Labienus troops from the field. Wheeling left, this combined force of infantry and cavalry struck into Pompeys left flank. Though Caesars first two lines were under heavy pressure from Pompeys larger army, this attack, coupled with the entry of his reserve line, swung the battle. With their flank crumbling and fresh troops assaulting their front, Pompeys men began to give way. As his army collapsed, Pompey fled the field. Seeking to deliver the deciding blow of the war, Caesar pursued Pompeys retreating army and compelled four legions to surrender the following day. Aftermath The Battle of Pharsalus cost Caesar between 200 and 1,200 casualties while Pompey suffered between 6,000 and 15,000. Additionally, Caesar reported capturing 24,000, including Marcus Junius Brutus, and showed great clemency in pardoning many the Optimate leaders. His army destroyed, Pompey fled to Egypt seeking aid from King Ptolemy XIII. Shortly after arriving at Alexandria, he was murdered by the Egyptians. Pursuing his enemy to Egypt, Caesar was horrified when Ptolemy presented him with Pompeys severed head. Though Pompey had been defeated and killed, the war continued on as Optimate supporters, including the generals two sons, raised new forces in Africa and Spain. For the next few years, Caesar conducted various campaigns to eliminate this resistance. The war effectively ended in 45 BC after his victory at the Battle of Munda. Selected Sources HistoryNet: Battle of PharsalusRoman Empire: Battle of PharsalusLivius: Battle of Pharsalus

Account for the increasing number of children incarcerated in the UK Essay

Account for the increasing number of children incarcerated in the UK. Is this an effective means to tackle youth offending - Essay Example uss different aspects of youth incarceration, especially in the context of Youth Justice System of the United Kingdom, and will endeavor to analyze available options of tackling youth offenders. It is a fact that every government has been giving significant importance to youth crime, in order to eliminate anti-social agents from the society from its roots; however, none has been able to achieve such objective due to a number of factors, such as unemployment, poverty, etc. On contrary, youth prison population has increased dramatically that has resulted in extreme criticism, as effects of youth imprisonment do not affect young offenders only, but families and communities as well. According to the UK government, (Home Office, 2008) tough penalties for young offenders cannot be avoided, as it is essential for a safe and healthy society; however, studies have observed that these tough and punitive penalties and custodies have resulted in contrary results, rather than allowing offenders to recover and break their offending cycle. Although steps are being taken to prevent young individuals from falling into this black hole; however, youth imprisonment presently seems to be the on ly option that is taken as effective, regardless its adversities. Policymakers believe that innocent public stays protected by custody and imprisonment sentences to young offenders; however, it is an agreeable fact that punishment confronted by young offenders in prisons results in isolation from society that is adverse for children according to a number of child psychologists. Studies have noted that children are unable to acquire proper guidance in custody and remand and end up with getting opinions from wrong people, such as serious criminals and offenders, which seems to be quite true with the fact that a majority of youth offenders are convicted after two years of going from the police custody. In the past, local services used to coordinate with magistrates, and after confirming presence

Narrative Essay Example | Topics and Well Written Essays - 750 words - 4

Narrative - Essay Example After realization that the world of films is more appealing than I can imagine, I decided to keep the spirit lively by undertaking a Master’s degree in media, my major focus being on Radio and Television studies. When in the university, I got an inordinate chance to train in the first channel of Saudi Arabia, the fifth channel in Saudi Arabia and Institute of Hajj researchers as a photographer, all of which bolstered my understanding of the world of media and communication. I firmly believe that a well-written script and characters are what makes a film, a major reason that made me feel frustrated while in the university when doing photography-related projects. The fundamental reason for the perceived discomfiture was the fact that after doing projects in photography, although they often turned out to be good, I felt left out after the image is completed, a reason that intensified my intention to be a screenwriter so that I can always be part of the complete works such as docu mentaries. When I watch an interesting film, I see myself in it and believe that the ideas on the screen are actually being personified for me, a rare thing that has been developing in me lately. I immediately develop a critical critic of the masterpiece, a factor that has further sharpened my writing skills. However, being in the university was an eye-opener for me. I enjoyed every moment in school primarily because of the many activities that I found myself participating in and the large audience that resoundingly required my presence in various programs, both educational and leisurely. While still working hard on coursework, where I eventually managed a GPA 3.11/4, I could still manage to schedule some time for talk shows, news programs, documentaries, and advertisement. I used my verse skills in media and television presentation to influence and appeal to the audience. The college students always

Police officer Essay Example for Free

Police officer Essay Inspector Goole has an air of mystery around him from the start. Mr. Birling is on the bench and knows all the police officers but has never seen Inspector Goole. The Inspector tells him that he is new Only recently transferred. This makes us wonder, is it a coincidence that he has just started working in Brumley at the same time as this investigation is going on? Or maybe he knew Eva Smith personally and wanted to find out more about what drove her to suicide. We dont really know who he is and there is no evidence that he is a real Inspector so the audience are confused whether to believe him or not. We do not know enough about his character to trust him. He also has a very mysterious nature for example the way he talks to people. He chooses his words carefully and speaks weightily. He does this so that he makes sure that he is saying what he wants to say and means it. Everything he says has a rather matter of fact tome to it making the other characters think that he is always right and knows what he is talking about. Also he has a disconcerting habit of looking at the person that he is talking to. This makes them uneasy. It is like the Inspector is searching them internally and can see what they are thinking. The name of the Inspector Inspector Goole adds to the dramatic tension of the play. The name Goole is a homophone to the word ghoul which is often related to a ghost. A ghost is a disembodied spirit of a dead person i.e. it is not really there. Ghosts and ghouls are thought to be fictional to scare children. Therefore is the Inspector real or not? Is Goole his real name or is he just using the name to scare the Birlings? These questions remain unanswered throughout the play. Inspector Goole has a very awkward yet methodical way of questioning each member of the family. He concentrates on one person at a time and does not let them go until he is satisfied with the information that he has gained. When he is questioning one person he does not like to disturbed. He has a photograph in his pocket which he says is of Eva Smith and he says he found it in her lodgings. He only shows it to one person at a time and makes sure that no one else can see it. When he shows Mr. Birling the photograph Gerald and Eric are eager to see it as well but he blocks their view. When they ask him why they cant see the photograph he replies Its the way I like to go to work. One person and one line of enquiry at a time. Otherwise there is a muddle. This shows the methodical side to his questioning. Throughout his enquiries, the Inspector has remained in control. At times he has massively taken charge. In social status, the Inspector is lower than the Birlings although throughout most of the play the Birlings are inferior to the Inspector as they do not know all the information like he does. What we do not know is how much the inspector already knows before arriving at the house. Whenever he asks a question, he already seems to know the otherwise he would not be questioning them. The information he has gathered before coming to the house is by reading the diary that Eva Smith left. Maybe some pages of the diary were missing, hence the lack of information in the Inspector. There is not really any evidence that what the inspector says is true apart from everyone admitting to what they did to Eva Smith. He doesnt even show the Birlings so called diary. Therefore we arent sure if there even was a diary or if he made it all up. We are force to believe that he is telling the truth because how else would he have got that information? The audience answer to it Anyhow I already knew. He obviously has bits of the puzzle missing do not learn a great about Inspector Goole in the play. All they learn about is his character and personality; he is imposing and intimidating. We do not know any background information on him e.g. where he is from. All this does not matter because even though he is the main character the play is not about him it is about Eva Smith. The audience probably do feel a bit curious about the mysterious Inspector but their curiosity soon subsides as they try to keep up with the fast pace of the play. Before the Inspector goes he says One Eva Smith has gone but there are millions and millions of Eva Smiths left with us. From this, the family learn that they might have led someone to suicide but there are plenty more vulnerable people like Eva Smith left in the world that needs their help.  John Priestley was born on September 13th 1894. He grew up into a family who enjoyed debates. At a very young age he was caught up in debates with his friends. They all discussed politics from a socialist point of view. He expresses these ideas and beliefs in the play. In the play his socialist ideas are expressed through the characters and by exploiting some techniques and devices. Now I am going to write about the social and political climate of the day. Priestley wrote this play An Inspector Calls in 1944, but the play was set in 1912. Priestley took into account the political and social climate of not just 1944 but also when the play was set in 1912. Because of the time in between the two periods Priestley could use historical events and facts for his own use in the play. An example of this is when Birling says, Im talking as a hard headed, practical man of business. And I say there isnt a chance of war. And in the Inspectors final speech when he talks about everyone being responsible for each others actions and the world is a whole and people shouldnt be divided up into classes and social groups. I tell you that the time will come when, if men will not learn that lesson, then they will be taught in fire and blood and anguish. In both these quotes Priestley touches on the subject of war. This would have attracted the audience to what Birling was saying and they would have started to dislike him and his ideas, since the Second World War would have just finished the audience would have been upset about their lost ones and would have been interested in peoples opinions and views leading up to the start of World War One.

Quebec Sovereignty Movement :: essays research papers

The Quebec sovereignty movement has been going on for over 50 years, and it seems, may never rest until complete. So why not let them go? How would that impact other Canadians living outside of Quebec? True, Quebec has been part of Canada since confederation in 1867, and helps connect Canada from sea to sea (as MacDonald would put it). However, Quebec is much like a foreign country anyway, with its own language, culture and civil law. The majority of Canadians in the western provinces would welcome their sovereignty. Quebec is Canada’s spoiled child. They demand to be treated as a â€Å"distinct† society, and cry for their own language, more money, more rights, and special treatment. Because a large percentage of voters are in Quebec, our Government continues to be blackmailed by Quebec, and gives into the demands. Why should Quebec receive more than other provinces? The next few paragraphs will discuss how the separation movement started and how Quebec leaving would affect us everyday Canadians. The separatist movement all started just before the 1960’s when Maurice Duplesiss, the conservative Premiere of Quebec, died suddenly. Shortly afterwards, his successor, and newly appointed premiere, also passed on . The death of these two premieres was referred by historians as the start of the Quiet Revolution, and a period of rapid change in the province of Quebec. Soon after the death of the two conservative premieres, a liberal government was elected in the 1960 Provincial Election. The party was led by Jean Lesage, who quickly went to work by imposing a Quebec education system that replaced the Canadian government run educational plan. Major funding was put into the schools and several improvements were developed. On the economic level, the government looked for francophone to control the economic spectrum of Quebec, which prior to the revolution, was largely dominated by English-Speaking Canadians. The new government brought forward a new way of thinking for citizens of Quebec. There was a cultural shift from a Canadian identity to a separated society throughout the province. French-Canadians were now Quà ©bà ©cois, and a new identity was formed. The province took care of its own, this was the creation on an Etats-Providence (welfare state). In the 1962 Provincial Election, another liberal premiere was elected by the name of Rene Levesque, who would go on to found the Parti Quà ©bà ©cois (a party focusing on a Quebec Sovereignty as its primary goal).

Behavioral Assignment

For example if the company is performing admirably, your payments are not going to increase, but if you compare this situation With an equity investor, the market will incorporate to the stock price these results and your remover will be higher. On the other hand if the company Starts having some problems and cannot achieve its goals, your payments will remain the same.This situation only changes when the default risk increases, and this doses â€Å"t happen in a very quick span of time In the case of equity, the scope for disagreement is larger and more sensitive, because the payoffs are uncertain and depend on the beliefs of the fundamental value of the company. It can be also seen below that equity payoffs are linear with respect to investor beliefs in relation to underlying asset value; however, debt up-side payoffs are fixed at some constant rate, ND are consequently non-linear (I. E. Concave) in the investor beliefs about the fundamental value.Source: Hong & Serer 2011 b) Safe debt has less default risk than risky debt, which means that its payoffs are more protected and the payoff graph has a more concave shape. The more secure an asset is, the less sensitive the investors are to the beliefs about fundamentals. The upside is here more bounded and is less sensitive to disagreement. When a bond is more risky there is a greater probability for default and the investors are more sensitive to the changes in the fundamental value of the company. Beliefs start having a greater influence on the asset valuation.In the following formula we can see that if the default probability is very low, the safe debt payoff will also be lower and less sensitive to disagreements. C) When optimism increases investors start seeing debt more as a risk-free asset that has less upside with reduced resale option. Rising optimism leads to larger misprinting. In this scenario the optimistic investors will continue to buy the bonds from the pessimistic investors, so there will be more optimistic investors holding the asset and the disagreement among the investors will be owe, and lead to a lower price volatility.The bond will also have less turnover. The pessimistic investors won t become optimistic, they just want to sell their bond. The model suggested by Hong and Serer(2013) considers a two-date trading model with dates t -?O, 1, N risky assets and the risk-free rate as r. The dividend delivered by the risky asset at time t=l is given by the equation: , where represents the cash flow beta of asset I, and is the state of the macro economy.There are two groups of investors: 1) The optimists (group A), who believe that the economy will be better in t=l -b EAI[z = +h 2) The sometimes(group B), who believe that the economy will be worse – 3) So the expected difference between optimists and pessimists is given by: EAI[z] – BE[z] = When is small (I. E. Low macro disagreement) , the equilibrium price will depend both on the optimists and pessimists valu ation, equaling However, when X is large (high disagreement about future macroeconomic conditions), the demand of pessimists (given by ) is so low that it will hit short sale constraints.Thus, the equilibrium price will be determined only by optimists' valuation, since the pessimists will be sidelined from the market: . This equilibrium price is higher than the unconstrained price, which means that the stock N will be over-priced, due to high macroeconomic disagreement about fundamental factors, when compared to the traditional CAMP model prediction. As predicted by the dividend equation: , the higher the beta of the stock, the higher the effect of the disagreement about its future cash flows will be.Thus, short-sale constraints will occur with higher probability for high-beta, high risk stocks. Short-sales constraints might be binding for some investors due to institutional reasons. An example are mutual funds, which are prohibited to worth stocks directly by certain government act s and regulations. According to the arguments above, misprinting is more pronounced for high- beta stocks or for periods of higher disagreement. Thus, stocks from higher beta sectors such as technology, consumer retail, automotive, construction are more likely to experience overpricing and bubbles.Higher disagreement occurs either at times, when market optimism prevails -? continuous bull markets, combined with expansionary monetary policy for prolonged period, or when market pessimism prevails – crisis times, described by high volatility ND panic sell-offs, causing stocks to be undervalued. Bubbles are often hard to detect and ascertain, but tend to form most often when certain industry sectors are experiencing a technological revolution. Bubbles, crashes and financial crisis have been a repeating occurrence for long (e. G. He South Sea Bubble, canals and railroads in the 1 sass, the Internet in the sass) (Predetermine & McKee, 2012). A technological revolution in an industr y causes a boom in asset prices; however, as the momentum of the bubble increases, the rise in prices cannot be justified anymore by fundamentals as people continue to make ever-rising valuations. It is difficult to identify an asset's true fundamental value, and this is especially true for new technologies that have may seem as the next big thing, but have uncertain long-run prospects.Similarly, pastor & Versions (2008) argue that bubbles in stock prices can occur after technological revolutions if the productivity of the technology to be implemented is unknown and subject to learning. This affects both the level and volatility of stock prices. Critically, stock prices of innovative firms initially rise due to optimism and DOD news about the productivity of the firm due to the technological innovation, but eventually fall as the technology risk alters from affecting only the firm to being systematic (Pastor & Versions, 2008).The bubbles can only be observed retrospectively, and are most greatly amplified in revolutions than involve high uncertainty and fast adoption. For example the expansion of both railroads in the sass and internet infrastructure in the 1 sass was characterized by overstatement that ultimately depressed prices on an aggregate level as additional projects had negative returns due to industrialization.Also, in the case of the internet bubble, investors were lured in to invest by promising companies such as Amazon and America Online, but later companies had often no idea how to be commercially viable and essentially were riding the bubble (Dominant, 2014). Bubbles may hence be amplified by speculation and the idea that individuals observe and adopt the behavior of others (Levine & Jack, 2007). Especially in the case of the internet bubble optimists tend to push up the asset price, whereas more pessimistic investors cannot counterbalance this due to short-sale constraints (Predetermine & McKee, 2012).Thus genealogical revolution tends to lead to projects with initial profits, and leads to overoptimistic tendencies for the whole industry. As prices exceed fundamentals and new entrants/projects turn sour, the bubble eventually collapses. In the case where there is only one share of the asset available and there is one optimist and one pessimist in the market, the pessimist will sell the asset to the optimist at a price higher than the mean evaluation of the two investors.Here the single optimistic buyer can absorb the entire supply of one share. The average price is 75, thus the traded price will be in the range 75. The traded price rises when there are two homogeneous groups Of investors, I. E. When there are more optimistic traders in the market. They will bid up the price until it reaches the valuation of the optimists, I. E. 100. This will be the traded price. Thus, as according to Miller (1977) without short selling the price of the asset is increased if there is a divergence of opinion.In such a market the demand for the asset will come from the traders who have the most optimistic expectations of its value. The most optimistic investor tends to win the bidding and their evaluation of the asset ends up being its actual price. This can be also seen in the diagram below. Supply is inelastic at N, so the price is higher than the equilibrium rate. Only optimistic traders will trade at the prices where the demand curve meets the inelastic supply curve.Also, as seen in the diagram, different investors have different demand curves; the most optimistic one will have the highest valuation. (Source: Miller, 1977) Due to the binding short selling constraint, less optimistic traders who would like to short an asset cannot do so. Thus this is necessary for optimists to be able to set prices. Also volume is crucial. The more optimists there are will signify that the asset's price will be bid up to the valuation of optimists. This is especially true when the asset is scarce (e. . Only one or a few exist), as in this case there will be ample demand by the optimists (who may be a minority in the market) bid up and set the prices. The price of a security is higher the greater the divergence of opinion about the return from the security (Miller 1977). So we can say that if there is a big divergence of opinion in the market, the price will be even higher because the price only reflects the optimistic investors, and this also causes more volatility and more risk to the stock. Since the annual discount rate is a variable, and the time to maturity T is a constant, we can apply the rule: Then the expected value that the optimist attaches to the bond is given by: , 51 once The expected value Of the pessimist is given by: b) The difference of the natural logarithms of their attached values is: In According to the result, there is a positive correlation between the bond maturity T and the level of the disagreement between the investors, so the longer the bond maturity T, the higher the disagreement between the optimist and the pessimist will be. ) According to Miller (1977) the greater the disagreement the higher the rice. As we saw in the previous step bonds with longer maturity have greater disagreement, which leads to stronger misprinting because the price of the bond will only be affected by the optimistic investors (since pessimistic investors cannot affect the prices because of short-sale constraints). Thus, misprinting will be more pronounced at the long end of maturities, than at the short end.Also the longer the maturity of the bond the higher the expected return, according to a regular bond yield curve. If misprinting is more pronounced, the price of bonds will go up, causing a shift downwards in the lied curve, so average realized bond returns should be lower than the expected. A) Investor B starts with rational beliefs at t-?O, so his expectation of an upward move is â€Å"10=0. In case of an upward move at node u his expectation of an upward move TTL is given by : , A further move up to position u will give: A move down to position dud gives: An initial downward move to d yields: Going another node down to ad: And moving up in the second period to du gives: b) Investor Bi's beliefs about the value of the stock seem irrational at point ‘dud' and ‘du' since at ‘dud' his expectation of an upward move is , while at ‘du' it equals . Actually these positions represent one and the same point on the binomial tree, where the fundamental value of the asset should be constant. Behavioral assignment Even though according to Prospect theory the individualistically function is concave in the gains region, implying that they are risk averse, its shape changes to convex for very small probabilities. Usually people treat the outcomes based on a reference point, usually their current wealth, from which they evaluate gains and losses. For that reason a certain gain of $1 0 is not perceived as bringing any significant utility to let's say average middle-class individual, while the possibility, even though small, of winning SIS 000 would actually bring a quite significant change to his wealth.The opposite goes for the perceived utilities and the utility function, when in the loss region. Even a small probability of losing a significant amount ($10 000), which will severely affect the wealth of the individuals is misperceived as relatively high and undesirable as opposed to the certain, but small loss of $10, which will not affect the wealth of the person around his reference point.Some r eal life analogues of the conducted experiment might be buying a lottery ticket, where the individual even gets a small, but negative payoff, on average, or establishing a start-up business, where an entrepreneur invests capital with the hope Of receiving higher return in time, instead of investing the money in a bond or a bank deposit at a risk-free rate. Examples for certain small losses might be a person buying insurance policies and paying a small premium, but avoiding the risk of theft, road accident etc. Q.The distribution is not normal, but rather positively skewed, with higher percentage of positive earnings surprise than negative. There is also bunching at the O value, inferring a high probability that the average of analysts' forecasts coincides with the actual earnings reported. This distribution of recast errors actually implies that analysts have a downward bias when producing their estimations. A reason for this might be that analysts have asymmetric loss function, imp lying that they can be more harshly punished for under-prediction than for over-prediction.This is due to reactions of investors who, in most cases, have prospect theory utility functions, rather than conventional expected utility functions I. E. Their losses hurt more than gains of the same magna etude increase utility. In terms of the earnings surprise this means that when the actual earnings miss analysts' projections, he negative returns on stocks in the following days are much more pronounced due to investors unwilling to hold the stock and selling with larger volumes.In the opposite case of a positive surprise, investors' utility function is less steep in the gains region and the magnitude of increased purchases of the stock is less pronounced. Boon and Woman (2002) estimate at least six reasons for the analysts' downward bias when producing forecasts: internal pressures for earning higher brokerage commissions, pressure from management of companies that analysts cover, herdin g behavior to follow other analysts' projections, pressure from large institutional investors that analysts work with, conflicts with analysts' personal investments or unintentional cognitive biases of the analysts.Other plausible reference points in terms of expected earnings might be results from past quarters + some premium/discount, depending on how the company performed in the most recent quarter, or the earnings reported by companies, operating in the same industry I. E. Competitors. Investor A If the stock goes up, he would be keener to sell in order to realize his gains. The Prospect Theory utility function, which is concave in the region of gains, wows us there will be a point where an increase in his profit will bring very low marginal utility, so at this point the investor would be keen to sell.If we assume that the investor bought when , the more the stock rises and moves into more concave regions, , until it reaches the point of sell: If the stock goes down, he will hol d the stock because he won ‘t accept his loss and try to hold it until the price of the stock returns to the price where he bought the stock (his reference point). He would be more concerned with the potential value of losses and gains than the total wealth outcome, so he would be more inclined to sell when the stock was in the gain-making region, and less likely to sell and more likely to hold at the loss-making region.This is an observation of the disposition effect, tested by Dean (1998). Investor B If the stock goes up he will like to buy more shares. As an optimistic investor, he would trade more because of the profits that he is making, and the belief that he has information that others don t and that if the stock its going up, the momentum is likely to continue. If the stock goes down, he will like to sell because for him the market it's telling him that this stock its not worth holding anymore.The most important thing for him in order to make a decision for buy or sell is to receive a signal from the market and as an overconfident investor he would think that he has information that the market doses ;t and could benefit from that In other words he will consider the pure noise from the stock price movement as a signal and overweight it () The two investors could trade when the price of the stock rises, relative to their reference point because in that point investor A is more willing to sell and realize the gain and investor B is more willing to buy, because of the overestimated weight on the signal.Also they could trade when the price goes down and reaches a certain point when investor A no longer can hold the position (has sustained huge losses) and investor B could get a signal from the market, that the stock is already undervalued. A) 1 . Overstatement – empirical data show that there are cases when Coos truly believe that certain investment policies are creating value for the company. However, their beliefs are quite often in discrepan cy with the broad view of market participants, which is reflected in the stock value.These investment incentives are more pronounced in companies, that are cash rich, nice Coos will not be constrained by lack of funds and allocate the available cash according to their overconfident beliefs. 2. Corporate Financing – instead of opting for the more rational choice of choosing sustainable mix of debt and equity financing, combined with the use of the company's outstanding cash, overconfident Coos tend to use larger percentage of financing with cash or debt, since they consider equity financing excessively costly and believe that the market is undervaluing their company. . Overbidding in acquisitions – scholarly research has found evidence that overconfident Coos overestimate their ability to generate returns for their company. This is why such Coos have a tendency to overpay for target companies and undertake mergers that actually bring lower than expected value. A proof f or this might be found in market reactions after announcement, where the negative return after the announcement is more pronounced for companies, whose managers are considered as overconfident by investors.In the last two decades U. S firms spent more than $ 3. 4 trillion on mergers, and if CEO ;s were thinking only about the interests f their shareholders probably they would have acted in a different way, because their actions caused losses amounting to roughly $220 billion (Maintained, Tate 2007). B) CEO overconfidence does not necessarily have to be a bad thing, since this aspect is quite closely con nested with affinity to taking higher risk.Higher risk, in turn, might lead either to more pronounced negative or positive outcome for the company, and thus also allowing for a beneficial outcome to shareholder interests. Also, such individuals, for reasons connected with their genetics or upbringing, are among the most successful and influential people n society. As discussed in the paper â€Å"CEO overconfidence and innovation† by Galas, Simoom (2011 more confident Coos tend to disregard the risk of failure and thus more eagerly indulge in R&D and innovation strategies, which eventually bring higher value to shareholders.Real life examples of such Coos might be Steve Jobs (Apple Inc. ), Leon Musk (Tests Motors). Question 5 In the presented case, an overoptimistic person will tend to have higher anticipatory utility during his youth, but eventually as time progresses the actual realization will with a high probability be less than his anticipations, so e will get lower realization utility. The total utility he gets will depend on the weights he puts on those two utilities.If you educate your child to be overoptimistic, in the future for example when he receives his pension fund he will expect certain amount of money, let's say $1,000 per month, but instead if he actually receives $900 he will feel as if he lost $100, regardless if that amount of money r epresents a good income for him or not. On the other hand if he receives $1 r 1 00 he won ‘t feel the satisfaction of having more money. The feeling when you lose is deeper than when you win.

Families in poverty in Australia Essay

One of the important global plan is to eliminate poverty by 2015 as per UN Millennium Development Goals. Every day approximately 30,000 children are losing precious lives due to living in precarious conditions. (Make Poverty History) It is high time to bring a big change in the lives of people who deserve to meet the minimum needs for living. Not just one nation or two whereas a collective effort of all people beginning from Australia to the remote parts of other nations, is required to completely eradicate poverty. Especially in Australia poverty is on the rise from 7. 6 per cent to 9.9 per cent between the period of 1994-2004 (Australian Fair Campaign) Poverty levels are at a higher rate when compared with the poverty line of UK and Ireland. In spite of the fact that Australia’s economy is growing, there are two million Australians living in poverty according to (ACOSS) Australian Council of Social Service. Australia is ranked 14th in the developed world for poverty (UN Human Poverty Index) â€Å"There are two many areas where Australia is falling behind other OECD nations† â€Å"Governments need to ensure the benefits of the economic prosperity are shared with all Australians†(ACOSS President Lin Hatfield Dobbs) The following indicate the status of people in Australia as on September 2001. (Australian Bureau of Statistics) (a) There were 672,500 unemployed (officially) (b) There were 563,500 underemployed (c) 800,000 would like to work more This paper picks an issue of families living in poverty especially belonging to Australia which is a renowned nation for tourism and rich in natural resources. What are the ground reasons for continuous existence of poverty in a nation where there are industries, clean environment and beautiful landscapes which encourage foreign tourists to choose Australia as a destination point to reside either as a tourist or as an immigrant. Similarly, there are reputed educational institutions and universities in Australia which if collectively notified that a greater number of foreign students enroll for career advancements in Universities of Australia than the domestic students of Australia. This gives out a fact that, people around the world select and consider Australia as one of the best nation to opt for to reside as an immigrant, as a tourist, as a foreign student or for expansion of business ventures. An overall view about Australia as a nation produces a fact that, it invites tourists of all cultures and backgrounds and offers a multi-ethnicity atmosphere to all its residents. In the order of pursuing other priorities of economic development of nation, Australia could possibly be giving a lenient view to its domestic citizens and families in providing jobs, medical health schemes which otherwise are provided at a lesser cost in the other parts of Europe, in order to take care of its citizens as a premium issue, which is very important economic aspect that resident families are cared and nurtured after all families make societies which in turn make a healthy nation. In order to find how well and happy families are, a poll opinion was considered by Brother hood of St. Laurence in Australia which revealed that a mindset of middle class economy is prevalent and poverty is always secondary (Stewart 1996). An analysis and understanding of poverty has basically two phases. (1) a phase of listening (2) a phase of dialogue. Brotherhood has considered the poll of general public, group discussions, politicians, academics, telephone interviews, business leaders, community leaders which included both qualitative and quantitative findings. Basing on the general public opinion, the following findings were the result of Brotherhood’s research on poverty in Australia. Firstly and quite observantly, Brotherhood stated that poverty is least rated at 5 per cent as compared to any other issue such as unemployment, education, health, environment and other chronic issues of narcotics and games of casino or betting. The other ratings are, drugs at 25%, unemployment at 17%, divide between rich and poor at 16%, education at 13%, health at 9%, environment at 9%, gambling at 7% and poverty at 5%. Poverty line as established by Henderson in 1973 explains that an income of $62. 70 is a benchmark which is a disposable income for a family of four. (parents + two children).

How To Make Spanish Crossword Puzzles

How To Make Spanish Crossword Puzzles Are you a Spanish teacher who is tired of giving routine fill-in-the-blank and multiple-choice vocabulary tests? If so, you can bet your students are wearier of them then you are. The answer may be a fun variation of fill-in-the-blank - crossword puzzles, known as crucigramas in Spanish. With software available for only the bother of a download, you can quickly create Spanish-language crossword puzzles with your own choice of words. Free Crossword Puzzle Software The free software, EclipseCrossword from Green Eclipse Software, lets you readily make your own word lists and definitions, so puzzles can be custom-designed for what youre trying to teach. One nice feature of EclipseCrossword that makes it particularly suitable for teaching Spanish and many other foreign languages is that it supports diacritical marks, so you can include words with the à ± as well as accent marks on the vowels. The software, which uses Windows, is free, so you cant expect it to have the capability of professional software that will let you develop crosswords with the density and symmetry of the puzzles youll find in top newspapers and magazines. But it is otherwise quite versatile, letting you specify the desired size (go too small, and the program will leave words out) and output format. You can print the puzzles directly, or you can save them to a Web page.

What Clothes to Bring to College

What Clothes to Bring to College Figuring out what to bring to college is challenging enough before you even start thinking about clothes. (And, lets be honest, its especially challenging if youre a girl.) How can you decide what clothes to bring to college and what to leave at home? While your own fashion sense and clothing needs might differ a bit, there are some guidelines to consider when it comes to bringing clothes to college: Ditch Your High School Garb Dont bring anything that refers to high school or has a high school logo on it. Youll feel like a dork as soon as you realize no one wears anything that has to do  with  high school once they hit college. Bring All the Basics Definitely bring the basics to cover the following: class (jeans, t-shirts, etc.)date/dinner out with friends (guys: nice top/pants, girls: dresses/cute skirts/etc.)something niceguys: not necessarily a suit but a button-down, tie, and nice pantsgirls: little black dress for sure, but leave the prom dress at home Youll need other basics like jackets, sweaters, gym clothes, pajamas, robe (not everyone likes to walk from the bathroom to their room in a little towel), and a swimsuit. Stock Up on Underwear Bring a lot of underwear. This may sound strange, but many students only do laundry when their underwear runs out. Do you want to be doing it every week or every 2 to 3 weeks? Think Seasonally, Not Annually Think about the weather and when youll be seeing your family next. You can always bring summer/fall stuff and then do a clothes swap for winter when you come home a few weeks after classes start, over Thanksgiving  or for the holidays. If you really want to bring everything you wear but dont want to worry about bringing everything you own, focus on what youll wear over the next 6-8 weeks. At that point, you will be better able to gauge what youll want/need/have space for and possibly do a swap as the weather cools down. Pack a Just in Case Box You can always bring what youll need for the next 6 to 8 weeks but leave a just in case box back home, i.e., a box of stuff you may want but arent sure until you know how much space youll have. Then, if you end up wanting it, you can just ask your folks to ship it. You can also use that box for warmer-weather stuff that you can ship as the weather cools down. Pack Light and Save Room for New Stuff Keep in mind, too, that you should err on the side of not bringing too much instead of overdoing it. Once you get to campus, chances are youll sport for a new sweatshirt when theyre on sale in the bookstore, go shopping around town with some friends one weekend, end up with tons of t-shirts from events or clubs on campus, and even swap clothes with other people in your residence hall. Clothes have a tendency of multiplying suddenly on college campuses, so as long as you have some basics with you when you arrive you should be set.

Employment Relations in UK Essay Example | Topics and Well Written Essays - 2500 words

Employment Relations in UK - Essay Example Employment relations in U.K, were a victim of improper communication between the stake holders and the stake holders pursuing their own interests rather than the common industry interests. As a result the scene was chaotic and conflicts rose between the Union strongholds, managements of various organizations and the Government. It is almost impossible to single out any part to blame but collectively employment relations suffered greatly, as a result economic growth took the back seat and new employable areas almost vanished. When situation looked grim and almost impossible to repair dramatic changes took place. Europe, which has adapted well to the call for change in Human relations has acted like a catalyst in the change movement that took place in U.K. Surprisingly, stake holders in Employment relations in U.K, responded positively to the call for change and mended their ways. Situation bettered and employment relations are definitely looking clear and focused to let changes take place. What brought such a sudden change in their attitude is proper dialogue and a establishment of a transparent communication among the stake holders. It is not that there is no communication system previously, They have learnt what are the communication barriers which are hampering the process and they have successfully removed them. Change Management- the order of the day: The concept - employment relations bring out the participation of stake holders in building healthy and prospective relationships. This academic essay focuses on identifying the stake holders, their responsibilities, roles they have played and the type of transition that has taken place in U.K. In the present day industry to change is the norm of the day. Any organization which has remained static and resisted changes has been phased out. Human Relations Management over the last decade has learnt how to adapt to changing situations and guide the organization towards achievement of its objectives by innovating and changing. The changes are not without their due share of problems. U.K in the past was haunted by colonialism and a high degree of collective bargaining among the workers. Trade Unions and Labor Unions ruled the roost for most of the period and actually crippled the economy and productivity. However the situation took a turnaround and seems a much brighter scene than the past. What caused this turnaround is the never say die spirit of the Brits and the positive influence of the European market as a whole on U.K. Stakeholders in employment relations: Employment Relations is "Maintaining all possible contacts with the participatory involvement of public, the corporate, the Government and the Unions and generate value for the organization". (Public & Industrial Relations, P.34, 35, 2005, V.K.Gupta). I have observed the participation of the all the above said stake holders and the respective roles played by them in the problem phase and the solution phase. Some of the stakeholders are: i. The Management of various organizations. ii. Respective Employees and their individual actions. iii. The role played by Trade Unions & Employee Welfare Organizations. iv. Policies laid by the Government and

To what extent do advertisements reinforce female gender stereotypes Essay

To what extent do advertisements reinforce female gender stereotypes - Essay Example This "To what extent do advertisements reinforce female gender stereotypes?" essay outlines the image of women gender in the ads. The historic stereotyping of women was based on portraying this gender as weak, shy, beautiful, caring, sensitive and quiet individuals. They were shown as beauty objects with high respect. Most of the pictures used for advertisements were of plain, expressionless faces with graceful but least exposing dressing. Those advertisements were based on the idea that women are objects that must be looked at but not listened to. However, in recent years, such depiction of women is inexistent. Women are now portrayed as bold, sexy, stylish and strong. Most of the advertisements capture them facing the camera with no expression of shyness or confusion on their faces. A number of advertisements have also shown a remarkable change in women appearance by portraying women adopting male behaviors, dressing, hairstyle and other traits. Redken advertisement is an example o f such a portrayal where the female model has kept the hairstyle same as the male model. This has further changed the way women are viewed as in the world. Here it can be said that the women by advertisements are portraying an image in which they are shown more strong and manly. Through these advertisements it is stereotyped that women can compete with men in any given field and has worked towards their image in the world. These type of advertisements would also allow the female counterparts to realize how strong and important they are in the world.