The Theory Of Behavioral Finance

The Theory Of Behavioral Finance
1. Introduction
Efficient market hypothesis had been a topic of significant interest to the academicians, practitioners
and the corporate executives for a long period. Under Eugene Fama's(1965) survey, it is reflected
that there is a turning point of the modern finance by efficient market hypothesis. However, there
had been a shift in the focus to the theory of behavioral finance (Shiller, 2003) recently. Behavioral
finance is the financial structure which supplements various parts of finance (Gallagher, 2003). It is
the module which supports and displays the behavior of the investment managers and assists in the
overall process of management. Therefore, behavioral finance is a unique art which is required to be
selected in order to understand the outcomes of interactions between the investment managers and
the corporates. Given this background, this essay examines how the behavioral finance has
challenged the efficient market hypothesis and the implications of behavioral finance for investment
managers.
2. Definition and concept of efficient market hypothesis
According to Eugene Fama's (1970), with the rise in the information, there is rapid spreading of the
information which is immediately incorporated in the security prices. This is called the efficient
market hypothesis and it is associated with "random walk" theory. The random walk theory which
suggests the randomness of changes in a series of price forms the basis of efficient market
hypothesis. Thus, the
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The Behavioral Finance Paradigm And Its Derived...
M11EFA
BEHAVIOURAL FINANCE
COURSEWORK
Name: Thi Thanh Van Mai
Student ID: 6026628
What contribution can behavioural finance make to the explanation of stock market bubbles and
crashes?
Table of Contents
I. Introduction 3
II. The behavioral finance paradigm and its derived explanations of the investors' beliefs 3
III. Behavioral Theories used in the finance markets 4
IV. Empirical Evidences in the stock markets 6
V. Conclusion 7
VI. References 8
I. Introduction
There have been a number of models in the traditional finance paradigm which have the common
assumption that the investors would act rationally and consider all sources of information in their
marking or investing decisions. That would also lead to ... Show more content on Helpwriting.net ...
In this trend, there are several models to support this view of these investors, including the Modern
Portfolio Theory (MPT), Capital Asset Pricing Model (CAPM) and Arbitrage Pricing Theory (APT)
(Fama and French, 2004; Perold, 2004). They have been the main instruments that the rational
expectation based theories have been deploying. However, this traditional paradigm has been
analyzed by a number of researches that the information should not be considered to have a very
important role in affecting investors (Miles and McCue, 1984), Titman and Warga (1986), Lusht
(1988) and Liu and Mei (1992).
II. The behavioral finance paradigm and its derived explanations of the investors' beliefs
This was also the driving dynamic for the behavioral finance paradigm, which has the origin from
the above challenges that the traditional paradigm has had. From its viewpoint, the investments that
are made used to be made irrationality. Besides, this paradigm also made attempts to explore into the
investment market phenomena by proposing the two doctrines that the agents have been failed to
update their beliefs correctly, and that there is the typical deviation from the ordinary process of

making choices of investments of the investors (De Long, Shleifer, Summers and Waldmann, 1990;
Froot and Obstfeld, 1991). In other words, from the viewpoint of the behavioral finance paradigm,
these two are the main causes of the stock

Overview of Behavioral Economics Essay
Behavioural economics is the study of the effects that psychology has on the decision making of the
economy. This tends to be the way that people think and feel when they are spending money on a
certain good or service. The great economist Adam Smith was the first follower of this idea through
his book "The theory of moral sentiments" which dates back to 1759. However, it took over 100
years to get a more clarified meaning of how big of a role the psychology of a buyer plays in
economics. In behavioural economics there are seven basic principles which all contribute to the
decision making process. Behavioural economics can explain how people will react to different
situations such as times when there are no economic problems and times when ... Show more
content on Helpwriting.net ...
In other words most people would prefer to pay more and buy a more expensive product thinking
that by paying more it is also superior to the other products of the same category that are cheaper.
However, although the phrase "you get what you pay for" might have some validity in it that is not
always the case, due to the fact that sometimes the products that might be cheaper are just as good as
the competitor brand which has a higher price. In this instant it would be logical to buy the cheaper
product however most human beings would opt for the expensive product, assuming that it is of
better quality than the cheaper product. On the other hand, Dan Ariely rebuffs this claim and states,
"We choose what we like, not what's best." Sometimes humans don't make decisions based on their
preferences; instead they choose what they want and that leads to a process of rationalisation in
order to get what they really want. However, they still want to give the impression that they were
acting according to their preferences. Secondly, the framing effect states that presenting the same
option but in a different format can change people's decisions. Plous (1993) states that, "individuals
have a tendency to select inconsistent choices, depending on whether the question is framed to
concentrate on losses or gains." A good example of when framing is apparent is when stores
advertise sale on their products. For example two stores both sell the same product which is priced
at £50

Change of Position Balances the Hardship between the...
Upon fulfillment of the four criteria, namely that the defendant has been unjustly enriched at the
claimant's expense and there are no defences available for the defendant, a claimant will qualify for
restitution of unjust enrichment as established in Banque Financiere de la Cite v Parc (Battersea)
Ltd. Change of position is one of the numerous defences which may be used when it would be
excessive to allow a restitution claim at the defendant's expense. This essay will evaluate the
defence of change of position and reinforce the stance that it is adequately effective in protecting a
defendant from hardship.
The purpose of change of position is to balance out the hardships between claimant and defendant.
In the landmark case of Lipkin Gorman v Karpnale, it states that if a claimant pays money to the
defendant, who then uses the money or changes his position in good faith, it will be unjust to require
the defendant to make restitution. This further solidified the status of change of position as an
accepted choice of defence against a restitution claim.
There are principles guiding change of position, rather than it being up to the courts' discretion.
However, in Lipkin Gorman, Lord Goff stated that the development of change of position should be
dealt with on a case to case basis , leading to much uncertainty regarding the defence of change of
position. Each case has distinctive facts and it is due to this uncertainty which provides flexibility
for the courts to provide

Maps Of Bounded Rationality : Psychology For Behavioural...
Maps of bounded rationality: Psychology for behavioural economics – Daniel Kahneman 2003
Introduction
Kahneman's article is an analysis of intuitive thinking and how it guides our decision–making.
Although primarily aimed at the field of psychology, it is an interdisciplinary article with
applications in economic theorising. Kahneman attempts to differentiate between two systems of
thought, one of intuition (system 1) and one of reasoning (system 2), and argues that many
judgements and choices are made intuitively, rather than with reason (a slower and more deliberate
process). Intuitive decision making, which encompasses heuristics, although generally more
efficient and rapid, makes the agent potentially subject to errors due to framing effects or violations
of dominance. The analysis of the studies and theoretical situations also provides criticism of the
commonly held model of the rational agent within economics. The article also further conceptualises
Kahneman's theory, the Prospect Theory (Kahneman & Tversky, 1979), which has descriptive
applications of people's choice in decision–making situations involving risk and known probability
of outcomes. These situations are typically unexplained by the more normative rational agent model.
Summary
Kahneman's systems of thought is largely built on the framework of Stanovich and West (2000; as
cited in Kahneman, 2003). It describes two types of thought processes: system 1 (perception and
intuition) and system 2 (reasoning).

The Rational And Self Interested Agent Used As A Model Of...
Meet Homo economicus, the perfectly rational and self–interested agent used as a model of human
behaviour in neoclassical economics. Lacking the emotion and cognitive biases that typically cloud
optimal decision making, Homo economicus is able to consistently pursue self–interest without any
regard for the welfare of others. The troubling observation here is that economists have been
modelling human behaviour in a manner effectively consistent with psychopathy. The classic, albeit
Hollywood inspired psychopath – intelligent, capable of self–control, driven to succeed and
dominate others – is disturbingly similar to our description of Homo economicus. Indeed, using a
variety of anonymous, one–shot cooperation games, Yamagishi et al. (2014) ... Show more content
on Helpwriting.net ...
This is problematic, and invites the following questions: 1) How to justify modeling economic
outcomes in a manner not accurately reflecting most real–life decision making, and 2) How to arrive
at an economic, or even evolutionary explanation for our (nearly) global violations in utility
maximization. I address these points in brief below.
Economists have long known people aren't the tidy, rational, utility maximizing non–cooperators
that they're modeled as in neoclassical economics. For this reason, the early behavioral economic
literature was concerned with modifying existing models to better reflect psychological factors (e.g.
Kahneman & Tversky, 1979). Most people, for example, do not follow Bayesian statistics in
situations under risk, and so prospect theory serves as a useful addition when modelling loss
aversion. Thus the assumptions underlying Homo economicus can be interpreted as a pragmatic
choice that allows economists to make simplifying approximations appropriate for the problem
under review. This notion, that economists are conscious of the empirical limitations of their models,
suggests that Homo economicus can and should serve only as a preliminary step towards more
sophisticated representations of real–life decision making. If it's understood that the assumptions
underlying the models are at best useful approximations, then perhaps the issue is with the breadth
of application rather than the models themselves.
Though why is it that we don't

Lessons from Walden Two Essay
Lessons from Walden Two
Walden Two is a novel about a fictional community in present day America. The community is a
Utopia of the highest standards: the people are happy and content, there is a minimum of hurtful
emotions and activities, and everyone is healthy and prosperous. It is a stark contrast with the world
we are living in today. So why don't we change our society to match that of Walden Two, solving all
of our nation's many problems? For one thing, we do not know if a society patterned after Walden
Two will work.
Walden Two is a work of fiction; such a society has never been attempted. However, even if such a
society has been proven to work perfectly, our society is not prepared for such a radical change. It is
human ... Show more content on Helpwriting.net ...
But it is possible to use behavioral engineering in the real world to make these universal beliefs.
Logically, without the hindrance of current society, there is no inherent value in being above anyone
else. The human sprit craves closeness and friendship; being above someone else sets you apart. The
problem is convincing people that this is true, even though they have lived all their lives thinking
otherwise.
One way of doing this would be to use propaganda – convince people without reason that it is the
correct way, the natural way. However, a much more effective way of teaching is to let the people
learn for themselves. Make the information of both sides available, and require or strongly
recommend analysis of the material by everyone. This is another aspect of Walden Two that can
apply to our society – learning. In Walden Two, students do most of their own teaching to
themselves by reading the available material and drawing their own conclusions; the only thing they
are actually taught are techniques for learning to better facilitate their personal study.
However, in our problem with the psychology of a consumer society, propaganda would not be an
effective or complete solution. There are many, many people in our society today who are so set in
their ways that they would not change at all from assimilating and analyzing the provided
information. These people would

My Online Shopping Experience On Why Individuals Are Not...
An essay based on my online shopping experience on why individuals are not rational
Introduction
The essay will from my example show that individual including myself are not rational when
making decisions. I will be using a diverse range of theories from the standard economic model to
explain how the decision made during these experiences showed a rational behaviour and how it
violates the standard economic model. Behavioural Economics according to is the combination of
psychology and economics that investigates what happens in markets in which some of the agents
display human limitations and complications. The major theories that I will be discussing for the
standard economic model will be (Smith, 1976. Schiffman, 2007. Lowenstein et al, 1991) to
understand the economic model and its assumptions on individual rationality. Behavioural
economics theory helped explains my observation from my online shopping experience and
irrationality of individuals when it involves decision making.
Main body
Standard economic theory assumes that people are rational, act based on full information have stable
preferences and always maximize utility. The main accomplishment of Smith was to put forward as
the central theme of economics the logical analysis of the behaviour of individual agents pursuing
their self–interest under conditions of competition (Smith. 1976). The standard economic model
assumes that people are perfectly rational, maximising decision makers when faced with a problem

The Final Group Project Required Dedication
The final group project required dedication, in–depth analysis and creativity regarding the video
clips and creating the paper. The paper will consist of video clips from Parks and Recreation, The
Big Bang Theory, and House. Each clip covers material or theories relating to organizational
behavior. Each clip covers a different concept and the paper will describe in detail how each concept
relates to the video being mentioned.
During the first clip chosen from the Big Bang Theory, it showed four friends (Sheldon, Leonard,
Howard, and Raj) trying to decide on where to go for dinner and a movie. They are trying to find a
location that satisfies their "needs" for dinner, concession stand food, and a reasonable start time for
the movie. They begin to have difficulties mostly due to one particular member of the group and the
criteria he has set. Right away there is trouble with the main characters that perfectly represents
FIRO–B theory. This theory "examines differences in how people relate to one another based on
their needs to express and receive feelings of inclusion, control, and affection" (citation). During the
scene, one character–Sheldon–has specific criteria that needs to be met, so that he can attend the
movie. Other members of the group are trying to cater to him by only considering "Sheldon–
Approved" restaurants, but they are not finding common ground. FIRO–B theory says that effective
groups are ones that have similar needs; the group in the Big Bang Theory is very

Cognitive Economics : Behavioral Economics
Behavioral economics has also consulted inter–temporal choice. Inter–temporal choice describes to
how humans decide about what and how much to do at different times when decide at a time effect
the facilities available at another time. Choice under risk or ambiguity relates the dual–system
theory. Research suggests that people's decisions can be affected by the "type and amount of
information" they find. A behavioral equilibrium depends on people take from frequently acts their
equilibrium strategies. Emotions, ethics, justice, well–being, and social preferences are quite
significant meanings for behavioral economics. Behavioral economics values to those kind of
definitions in contrast to homo–economicus. Cognitive and affective dimensions are in the field of
behavioral economics. Trust, dishonesty, fairness, social norms, consistency, and commitment can
be also added those meanings. Therefore, it can be said that behavioral economics make use of and
relates to game theory, neurosciences, behavioral welfare economics, behavioral finance, and
experimental economics etc. As they can be seen on the table six behavioral economics models will
be mentioned in that paper. According to this, behavioral economics models are separated two
different categories which are generalized utility functions and new methods of game–theoretic
analysis. In addition, they also class in themselves three different types separately. After that their
standard assumptions are showed at the end of the

Stock Market Extinction Hypothesis
Introduction
Werner F. M. De Bondt and Richard Thaler conducted a study to investigate the stock market. This
study examined the impact the overreaction of market behaviour and the psychology of individual
decision making has on stock prices. The main goal of this study was "to test whether the
overreaction hypothesis is predictive" (pg. 795). They tested two hypotheses (pg. 795):
1. Extreme movements in stock prices will be followed by subsequent price movements in the
opposite direction.
2. The more extreme the initial price movement, the greater will be the subsequent adjustment.
Their findings were published in an article titled "Does the Stock Market Overreact?" in July 1985.
Evaluation of "Does the Stock Market Overreact?"
De Bondt and Thaler based their study mainly off of the research conducted by D. Kahneman and A.
Tversky. Bayes Theorem is a formula used to determine the conditional probability of an event
occurring based on relevant information (Investopedia, 2016). When new information occurs, one
might use that information to predict change in stock prices. However, current research is suggesting
that Bayes' rule is not an accurate representation of how individuals respond to new information (pg.
793). It is believed that people have a tendency to place more importance on recent information than
historical information. This theory was supported by J.M. Keyes, who made one of the earliest
observations about market overreaction (pg. 793). His observation was

Behavioral Economics Deck
October 27TH, 2010
SWITCHING BARRIERS RESEARCH
1
UNDERSTANDING CONSUMER COMPLACENCY TO SWITCHING TO THE BEST OFFER
According to behavioral economists, consumers don't always behave rationally, like a market (in
theory) does, and they don't make decisions based solely on facts or logic such as price or quality.
Other psychological factors have an impact on decisions. This explains why very often, consumers
become complacent when faced with the best value proposition. FEAR OF OVERPAYMENT The
opportunistic mindset is engrained in how people shop today. People have an expectation to get a
deal and will not very easily purchase if they are convinced they could find better. The way value is
framed is key reassuring people that they ... Show more content on Helpwriting.net ...
Offering free maintenance for the purchase of a ver y expensive car creates a mechanism of
postrationalization of the value The same happens when we buy a new TV for $1,000 – marked
down from $1,300! We rationalize the purchase is by telling ourselves we scored a deal.
Rather than evaluate how much a new television is worth to us, for example, we allow ourselves to
be guided by manufacturer's pricing and sale information.
Source: "The Upside of Irrationality", Dan Ariely, 2010
2
FEAR OF OVERPAYMENT
SOLUTION: CREATING EFFECTIVE FRAMES TO GIVE CONSUMERS NEW POINTS OF
REFERENCE
THE RELATIVE FRAMING AS SAVINGS A m a z o n 's s t r a t e g y t o c r o s s – s e l l
additional products to consumers by highlighting the remaining amount of a balance required for
free shipping. The relative framing of additional purchases as savings in shipping costs helps
consumers overcome the reality of a higher total price after additional items are added.
REMIX THE VALUE COMPARISON Value is an elastic point of view. Companies can change the
game by changing the way consumers benchmark your product against the competition.

P&G challenged consumers to compare their new product Tide Total Care with dry cleaning, not
with competing washing products.
CONSUMER–DEFINED VALUE There is an accepted truth that once we are imposed a

Reacted Irrational By Dan Ariely
The book "Predictably Irrational" was written by Dan Ariely in 2008, and it is considered to be a
best–seller in the United States. Dan Ariely is a professor of Duke University and works in the new
field of Behavioral Economics. The book is mostly focused on helping us better understand our
decision–making processes, and also become an unavoidable source of information when creating
public policy. Ariely focused in why people make irrational decisions, He conducted 13 experiments
and he explains every single one of them. He also teaches us that we have no idea of things and also
keeping too many doors open has a higher than what those opportunities really worth. In addition
Dan Ariely want to teach us the mysterious way of the human mind, of why we do what we do in
certain situations and why we act totally irrationally. The author gives different examples on
experiment made on top universities.i will give brief summary of most of the chapters, in order to
better understand the main idea that the author tried to bring by writing the book.
The book starts with an introductory chapter, were Ariely described how it came to their research
area after a very painful experience: for years he endure medical treatment for third degree burns
sustained in 70% of the body in an accident. His first research was on the ways in which people face
the pain, and how, specifically, nurses who generously assisted in his treatment, appeared to be
victims of certain bias or prejudice that affected

Frederick Herzberg's Theory Of Job Enrichment
2.2.3 Job Enrichment
Herzberg and his companions' intention was to increase employees' satisfaction at workplace in
relation to work assigned to them and also to motivate employees regarding their assigned work. Job
enrichment was presented by the American psychologist Frederick Herzberg in 1950s. The basic
reason of this idea was to motivate employees by providing those opportunities of utilizing their
abilities so that productivity and performance of the employees increase and positively impact the
organizational environment and smoothing the way for achieving organizational goals. Job
enrichment increases job depth, the degree to which employees can plan and control the work
involved in their jobs (Eraut 2004; Kayes, Kayes et al. 2005). ... Show more content on
Helpwriting.net ...
The rationale behind job enrichment is to motivate employees. The traditional practice of
specialization or division of labour, dividing work into many components, and assigning each
component to a separate worker results in employee boredom, and consequently loss of efficiency,
and low productivity. The earliest approach to relieve such boredom was job rotation and job
enlargement. Such concepts however did not have any backing from psychological studies.
Frederick Herzberg, the noted psychologist, in his 1968 article, "One More Time: How Do You
Motivate Employees?" advocated enhancing individual jobs and responsibilities to make them more
inspiring and rewarding for the workforce. This became the basis of Job Enrichment, the earliest
psychological backed approach to motivating employees at work. According to Herzberg, a few
motivators are added to a job to make it more rewarding, challenging and

The Old Constant : Human Psychology
The Old Constant: Human Psychology
According to the Efficient Market Hypothesis, competition will instantaneously cause the effects of
new information to be reflected in actual share prices. This assumption presupposes that the
participants in a market act rationally. The concept of the homo economicus has a long–standing
history in economics and is a relevant premise of efficient markets. According to the founder of
economic thought, Adam Smith, the homo economicus is human who constantly peruses self–
interest while always acting rational to reach his subjectively defined ends (Coase, 1994). At times,
psychologists joined this discussion and challenged the concept of the economic man. Among the
most prominent researchers who question the rationality in human decision making is Daniel
Kahneman. Kahneman challenged the rationality in decision making processes and is one of the
founders of behavioral economics. Behavioral economists argue that markets are not perfectly
efficient because various cognitive biases in humans (HBR, 2015). Among the most prominent
cognitive biases that influence stock prices are the Overconfidence Hypothesis and the Disposition
Effect. The Overconfidence Hypothesis describes the tendency of individual investors to trade
excessively based on a mistaken belief that they can pick winners and losers better than investment
professionals. Overconfidence is characterized by three main tendencies. First, overconfident
investors tend to overreact to

Optometrist Job Application Essay
What began as mere admiration for my childhood optometrist quickly evolved into a fervent
aspiration when I began working as an optometric technician at Eye & Vision Care. Having been
myopic since the age of 6, I have always had an interest in the inner workings of the eye and
decided to apply to this job, without any concrete career plans in mind.
Working at EVC, I have had the unique privilege of learning from six different doctors and have
been able to observe the various characteristics of each. From taking the time to thoroughly educate
patients on eye health, to creating strong personal relations with them, their practices allow me to
envision the type of optometrist I plan to become. One of the most important skills I have learned
from my employment is an intense attention to detail. Although each of the six doctors have distinct
approaches to eye care, they have all impressed upon me the value of taking pride in my work,
demanding nothing less than excellence from their employees. ... Show more content on
Helpwriting.net ...
My drive to help others stems from my time volunteering with the service organization, Rotary, and
their leadership program, Camp RYLA. When I attended this camp as a high schooler, I learned
invaluable lessons of self–confidence and connecting with others, traits seldom found in a high
school environment. My experience at this program inspired me to return as a counselor, where I
have been helping foster the growth of today's youth for the past four years.
At UC Santa Barbara, I joined and served as the treasurer of my school's pre–optometry club,
Envision, and was able to network with peers who encouraged me to work hard toward my goals. I
organized meetings for optometry school representatives to visit our club, and also led meetings
myself, one of which regarded helping members prepare for the Optometry Admissions

The School Drop Out Phenomena
In Uruguay, between one out of three and one out of four children that enroll in secondary school do
not graduate. For a country that used to exhibit high education levels and more than tripled its
education expenditure per student in the last ten years, being just above Latin American standards
appears as anything but a success.
Several studies dug in the cause and nature of such an evolution. One particular finding called for
the attention of researchers: the probability of an adolescent leaving their studies exhibit two peaks,
one at 15 years old and the other at 18. There seems to be a period of relative calm between ages 15
and 18 in terms of school dropping. (1)
Quite an odd shape for that process. Why is it that student feelings about education along the
adolescence present this U shape? Are subjects being taught in those particular years less interesting
than others? Are them more difficult? Why such an important and long term decision goes back and
forth during adolescence?
The school drop–out phenomena has been widely researched but it still remains in the shades.
Pouring money into the education system does not seem enough to solve the issue. Despite efforts of
teachers some children still underestimate the benefits of studying. Or at least they do not feel the
payoff big enough for the effort they do.
A humongous amount of hard data proves that for teens it is not a wise decision to abandon their
studies. Nevertheless, simply telling them that, does not change

The And Decision Making : A Critical Literature Review
BUSS7901 Critical Literature Review
1.1 Introduction
The presence of commonalities in human information processing has emerged from decades of
research into widespread use of decision heuristics by individuals. Tversky & Kahneman (1986)
demonstrated how individuals violate normative decision rules by employing decision heuristics
(e.g. representativeness, availability, and anchoring) to solve complex problems. These cognitive
aspects of decision making play a primary role in the investment selection decision process when
weighing up the benefits and costs from choice. These cognitive biases that arise have been oft
ignored by researchers in favour of the expected utility theory (Von Neuman & Morgenstern 1994).
This study discusses a key cognitive bias in loss aversion and how it is expressed in financial
decision making through the disposition effect. Additionally the difficulties of measuring and the
research direction towards developing a predictive disposition index.
1.2 Prospect theory and decision making
The cognitive features of individuals involved in the decision making process are derived from
prospect theory (Kahneman & Tversky 1979). Prospect theory identifies humans as not completely
rational and subject to their own mental accounting and bounded rationality (Simon 1972), these
processes cause rule of thumb heuristics and cognitive biases to arise in the decision making
process. Mental accounting (Thaler 1985) refers to the implicit methods

Optometry College Essay Examples
Optometry is the perfect fit that blends my professional goals, my interests in science, and
healthcare with individual strengths of compassion, relational service, and leadership. It is affirming
when passion meets purpose, and for me, the optometry profession is just that. My passion in life is
to serve others and to improve their health and well–being, while my purpose is to reach my full
potential as a medical provider. My inspiration to pursue a career in optometry arises from a
combination of my natural strengths, my life experiences, and my triumphs over life's hardships.
As a teen, I had the opportunity to volunteer on a summer mission trip that focused on serving the
homeless population in San Francisco. Stricken by poverty and drug addictions the Tenderloin
District was unlike anything I had ever seen. Instead of passing judgment or feeling intimidated, I
chose to serve these people with compassion and respect. What I experienced during this time was
transformational and helped to direct me on a pathway towards service.
Service to the community has always been a significant part of my purpose in life. I have committed
time to the youth and athletics as an athletic supervisor for the City of Ellensburg, a youth baseball
and basketball coach, and summer camp counselor. These ... Show more content on Helpwriting.net
...
I hope to utilize my skills as an optometrist and leader to serve the local community and give back
to those in need. My current gap year has been essential in my development as a future health care
provider, hopeful optometrist, and engaged community member. I have diversified my training at
Kittitas Valley's Open Door Health Clinic where I have gained exposure working with a patient
population that does not have access to the traditional health care system. I look forward to
continuing my volunteer service both as a board member and hands on

The Concepts Of Human Psychology
With each choice you take, each judgment you make, there is a conflict in your psyche; a fight
amongst instinct and rationale. Moreover, the instinctive piece of your brain is significantly more
intense than you may might suspect. The vast majority of us get a kick out of the chance to believe
that we are equipped for settling on sound choices. We may on occasion depend on our gut nature,
however in the event that essential we can approach our forces of motivation to touch base at a
consistent choice. Usually, we surmise that we have purposes behind what we trust, that is
frequently a misstep.
Prof Daniel Kahneman, from Princeton University, began an inquiry in our comprehension of the
human personality. It's a deep quest and ... Show more content on Helpwriting.net ...
This quick state of mind is staggeringly effective, yet completely covered up. It is so intense, it is
really in charge of the vast majority of the things that you say, do, think and accept. We are
constrained, we are not immaculate, we are nonsensical in a wide range of ways but then you have
no clue this is going on. This framework is your concealed auto–pilot, and it has its very own brain.
It is sometimes known as the outsider inside. More often than not, our quick, instinctive personality
is in charge, proficiently assuming responsibility of the considerable number of thousands of choices
we make every day. The issue comes when we permit our quick, instinctive framework to settle on
choices that we should disregard to our moderate, consistent framework. This is the place the
oversights sneak in.
Our reasoning is loaded with efficient errors referred to clinicians as intellectual predispositions and
they influence all that we do. They make us spend incautiously, be excessively impacted by what
other individuals think. They influence our convictions, our sentiments, and our choices, and we
have no clue it is going on. It might appear to be difficult to accept, yet that is on the grounds that
your intelligent, moderate personality is an ace at imagining a main story. The majority of the
convictions or suppositions you have originated from a programmed reaction. In any case, at that
point your legitimate personality designs a

Finance Case Essay
ANALYSIS OF USEC Inc., Prepared For: Dr. Doina Chichernea BUAD 6200 SPRING 2011 The
University of Toledo APRIL 21, 2011 Executive Summary USEC is the world's leading supplier of
enriched Uranium to nuclear power plants. Due to the expiration of long term energy cost savings
contracts, USEC is examining the possibility of taking on a new project called the American
Centrifuge Project. This project will utilize a different process for Uranium enrichment, which is the
core business process of USEC. The new technology process uses much less energy, which will
reduce manufacturing costs and keep USEC on the leading edge of technology in the enrichment
market space. As with any major energy industry project, the ACP project ... Show more content on
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This is driving the need to come up with an alternative solution to the current process. The ACP
technology is being looked at because it could give a competitive advantage to USEC against its
competitors. ACP will lower the production costs and improve USEC's technology position in the
market. If the company takes on the ACP project, USEC will reach 6.5 million units in production
by 2013. A minimal level of maintenance would be required due to the improved technology and
better facilities. ACP would also double the size of USEC as a whole. Cash Flow Calculations We
are providing below the assumptions and other calculations we used while computing the WACC
and the cash flows. * Net working capital of 5% of sales will be used for both Paducah and ACP
project * Inflation is assumed to be 3% * Flotation costs are ignored for cost of equity. * We assume
a risk–free rate of 5.09%. This number comes from the current yield of the 30 year T–bond as
shown in Exhibit 5. * 50% reduction in enrichment cost start from year 2011 (for ACP project).
Without the 50% reduction, the enrichment cost in 2011 would have been $50.15. We are going to
start at 50.15/2=$25.07 (50%) from year 2011 as enrichment cost and from there it will again
increase at the rate of inflation which is 3%. In 2011, the total capacity will be 3.5M (2.5M from
ACP and 1M from Paducah). While calculating the enrichment cost for the year 2011, we used the

Economics Reflection In Economics
There have been many topics that we have covered in class that have opened my eyes to how
behavioral economics play a role and are seen in everyday life. I really enjoy examining these topics
that we learn in class and when reading. Last nights reading of Kahneman had me thinking of a
particular topic of outcome bias and how that impacts our illusion of understanding. Kahneman
defines outcome bias as give too little of credit to the decision maker when he makes a decision with
a good outcome and blames the decision maker when he made a good decision with a bad outcome.
This had me thinking of a particular instance two weeks ago when the Twins were playing the
Yankees in the wild card game. Paul Molitor, the Twins manager chose to keep the pitcher in the
following inning after giving up a couple runs in the prior inning. The pitcher the following inning
gave up another run or two giving the Yankees the lead. The next day driving to class, I was
listening to KFAN the sports radio and they were saying how this decision cost the Twins the game
and should cost Molitor his job next year. When I heard this I was very surprised, not being a Twins
fan I thought that they would be glad with the turn around the team made this year, having been one
of the worst teams in the MLB. When I was reading last night and I came across outcome bias, I
immediately went back to this moment and it was clear that the talk show radio announcers had
participated in outcome bias. Even though

There are a lot of steps and a big process when you are...
There are a lot of steps and a big process when you are training to become an optometrist. An
optometrist has to go through schooling, training, and of course hands–on preparation. This seems
like a lot for just one job, and it is, and there is definitely more to it than just these three things, but
in the end it will all pay off. It's a great career and a great way to make a living. There are a lot of
wants today, but there are also a lot needs. Face it, everybody is going to have to go the optometrist
every once and a while. Over 70 percent of Americans wear glasses, therefore that 70 percent of
people will go to an optometrist. Jobs in the optometry field are always needed.
Dr. Marissa Knutson said, "I wouldn't say that it is terribly ... Show more content on Helpwriting.net
...
After a optometrists have finished their schooling, it is required that they have one year of on the job
training. Some schools, such as Pacific University, dedicate the 4th year to strictly hands on training.
I asked Dr. Nina Nemetz, an optometrist working at Coastal Eye Care, if the schooling expenses are
worth it. She said, "It's a huge financial commitment, but you will be able to pay it over time. It's
doable for sure." Schooling is obviously key for an optometrist because there is a lot of knowledge
needed in just knowing what the eye does. Medicine is one of the more important knowledge based
skills for an optometrist, as an optometrist is going to need to diagnose and treat human conditions
of the eye. He or she also needs to be able to tell when something is wrong, such as diseases and
deformities. Mathematics and biology are important educational values needed for an optometrist.
An optometrist uses algebra, geometry, calculus and stats in everyday situations. An optometrist
should understand biology, such as tissues, cells, interdependencies and interactions with the
environment. Obviously English skills are needed such as, good grammar and spelling are major.
One simple spelling error on a prescription could ruin someone's sight or even life. An optometrist
should have a good background in physics, knowing the laws, understanding fluid, and atmospheric
dynamics. It may not seem important for an

Essay on The Efficient Market Hypothesis
1. INTRODUCTION
The efficient market, as one of the pillars of neoclassical finance, asserts that financial markets are
efficient on information. The efficient market hypothesis suggests that there is no trading system
based on currently available information that could be expected to generate excess risk–adjusted
returns consistently as this information is already reflected in current prices. However, EMH has
been the most controversial subject of research in the fields of financial economics during the last 40
years. "Behavioural finance, however, is now seriously challenging this premise by arguing that
people are clearly not rational" (Ross, (2002)). Behavioral finance uses facts from psychology and
other human sciences in order to ... Show more content on Helpwriting.net ...
The weak–form efficiency cannot explain January effect. In semi–strong–form efficient market, to
test this hypothesis, researchers look at the adjustment of share prices to public announcements such
as earnings and dividend announcements, splits, takeovers and repurchases. As time goes, later tests
tend to be not supportive to EMH. For instance, semi–strong–form efficiency cannot explain the
pricing/earning effect. In strong–form efficiency, the highest level of market efficiency, Fama (1991)
pointed out the immeasurability of market efficiency and suggested that it must be tested jointly
with an equilibrium model of expected. However, perfect efficiency is an unrealistic benchmark that
is unlikely to hold in practice.
Last but not least important, an efficient capital market is one in which stock prices fully reflect all
available information. However, the paradox is that since information is reflected in security prices
quickly, knowing information when it is released does an investor little good. Furthermore, it is
impossible to create a portfolio which would earn extraordinary risk adjusted return. As a
consequence, all the technical and fundamental analysis are useless, no one can consistently
outperform the market, and new

The Theory Of Decision Making
In our everyday life we are in front of multiple decisions to take, from the easy ones as what coffee
to get to the more complicated ones, as what jobs to apply for. The word 'Decision' originated from
Latin word 'de ciso' which indicates 'cutting off'. This implicates that the act of deciding is to come
to a conclusion among different options. How many options are available though? Throughout the
years, many behavioural scientists proposed different theories in order to explain how we face
decisions and act before them. Do we calculate them all accurately before 'cutting off'? One of the
most recognized theories for decision making is the von Neumann– Morgenstern utility theorem
(1944), which states that the decision–maker in front of all the different choices will behave as if he
is maximizing the expected value of some function defined over the potential outcomes. Based on
the expected utility, the von Neumann–Morgenstern model is constructed upon the fundamental
assumption that humans behave in a perfect rational way being able to calculate all the options and
choosing among them the one that allows to maximize the expected utility. However, as the major
critics to this model sustain, individuals are not fully rational when taking decisions. Their cognitive
process is limited to the complexity of the environment in which they are taking decisions. The
homo economicus is portrayed as capable of solving complex problems of optimization of resources
allocation as well as

The Framing Effect On Human Behavior
More complex than it is fully understood even after decades of research, the framing effect is simply
understanding that the wording of a scenario encourages different reasoning or behavioral
preferences. It is an example of a cognitive bias, which is essentially our human tendency to source
information that supports something of which we already believe to be true or know. People will
react to a choice in a variety of ways, depending upon how it is presented such as a loss or gain.
They obviously tend to avoid a risk when something is presented in a positive way. On the other
hand, they seek risks when a negative frame is present. To fully allow the significance in the use of
framing; the best example nearly anyone can understand is presenting a glass as half full as positive
framing about the contents of a glass. In contrast, using the term 'half empty' offers the same
information but in a negative context (Dunegan, 1993). Emotions form a large portion of your
decisions, as this is one of their major roles. The part of your brain that is responsible for the
perception of emotions is located in the temporal lobe (a front section) of the brain and is called the
amygdala. "The framing effect is associated with activity in the amygdala, an area associated with
emotions" (Goldstein, 2011, pg. 388). Another way to look at the amygdala is that it is a processing
center, it receives incoming messages and processes them with different emotional responses. The
process of

Key Concepts And Explanations Of The Efficient Market...
Key Concepts and Explanations of the Efficient Market Hypothesis Overview Efficient Market
Hypothesis (EMH) is a theory that states that it is impossible to beat the market due to the following
reasons: Assumption that markets are efficient Investors make rational decisions Market participants
are sophisticated Investors act quickly on information as it becomes available Since prices reflect all
information there are no bargain prices. In efficient markets, prices become unpredictable and there
is no investment pattern. Therefore, those who only support the EMH do not believe behavioural
finance is necessary. Eugene Fama, known as "the father of finance", has been recognized for his
many contributions to the finance and economic world. Fama proposed the three types of efficiency:
weak, semi–strong and strong. This concept regarding efficiency is still being used today. The weak
form of efficiency assumes that all past market trading information is reflected in stock price. The
semi–strong form states that all publicly available information regarding the prospects of a firm is
reflected in the price. Lastly, strong form suggests that all information relevant to the firm, including
insider information, is reflected in stock price. Justification of the Efficient Market Hypothesis EMH
is a commonly used and is known as the foundation of financial theory. Those in support of this also
tend to focus on the random–walk hypothesis. If the market is efficient then

Sound Intensity In Crickets
The Effect of Sound Intensity and Type on the Foraging Time of the House Cricket, Acheta
domesticus. Brett Tung, 2017, Ecology (BIO 211), University of Puget Sound.
The topic of interest was how instincts and perceptions affect the foragers through the ecology of
fear. The aim was to look at if sound intensity and/ or sound type affects the foraging time of
common house crickets. This was to see how foragers overall would react to a threat of predation
(the sound). Using a simple maze and a speaker we looked at two different types of sound as well as
a control the sound types consisted of a Bluebird and a 1000 Hz tone and a tone at 70 dBA. The run
time was recorded by how long it took for the cricket to get from a start line to a food source in the
presence of the sounds or lack of. It was found that together the sound type and intensity had a
significant effect on the foraging time of the crickets. Separately the sound type had no significant
effect but the different intensities did have an effect.
Introduction
Sound pervades throughout nature from a combination of abiotic factors, such as the wind, or biotic
factors, like bird calls. A large increase this background noise has occurred from the consequence of
humans rapidly spreading around the globe (Barber et ... Show more content on Helpwriting.net ...
2012), or aquatic animals, like fish (Amoser and Ladich 2005), with few focusing on invertebrates
like the cricket (Morley et al. 2014). Few studies have focused on cricket's response to noise
specifically how they use it in predator avoidance (Moiseff et al. 1978), but invertebrates in general
lack the depth of research they deserve as such crucial aspects of the environment (Morley et al.
2014). Looking at the effects from foragers to top predators will allow us to see the effect of sound
pollution on the community as an integrated

How Can You Become A Better Leader?
In this website, you will be able to find information about how you can become a better leader in
relevance to the subject of organizing. On this website, you will be able to learn in great detail about
3 different lessons which are all related to the topic of organizing. Along with this, you will also be
able to view a case study done on a business which is based around challenges that the organization
faces in terms of organizing. Elemental Inc. Currently at Element Inc., there are many problems that
need to be resolved, in order to prevent our talented employees from leaving our company. As one
of the current leaders of the Human Resources department of the company, I have a few suggestions
I'd like to make in order to help our company reach success and eliminate this problem. The issue
we have at hand is that, all of our highly–talented employees are leaving to work for other
companies. Since we are such a small business, we cannot afford to lose our talented employees.
With each employee we lose, we must replace. This leads to many costs related to finding
replacements and overall, this causes a disruption to occur in the company. Due to Elemental Inc.
being a particularly small business, the employees we have trained become captivated by larger
businesses as they lure them in by offering "more" benefits at work. We must make a change as soon
as possible as this problem has been occurring for many years, and the loss of valuable employees is
becoming a huge hassle

Study Stock Market Trends : Ron Insana. Investments Don 't...
How to study Stock market trends – Ron Insana Investments don't always work as planned on Wall
Street. However, financial markets send signals regarding the future of the economy. Markets can
move in advance of information available to the general public. In a broad view, markets seemingly
anticipate political events. In other times, the markets will anticipate economic events long before
the investing public understands what's emerging in the general economy. The market is also
effective at discounting a transformational event. When the market excessively anticipates all future
revenues and all the future profits that would accrue to the phenomenon, a bubble or mania
develops. The repetitive nature of the phenomenon, or investment fad, ... Show more content on
Helpwriting.net ...
The stock and the fundamental reality of the company can become divorced. Eventually, the stock
price will reconnect with economic reality, given the way the markets have priced future profits.
People should pay attention to the indicators that suggest the bubble trend is maturing. For example,
when the Federal Reserve is raising interest rates, investors should not be in equities. Investors need
to recognize the historical significance of a shift in the fundamental economic environment, as
bubbles will continue to occur. The question is what will be the impact on the subsequent asset class
that experiences bubble mania.
Behavioral Finance and the psychology of investing – Greg La Blanc How can a bubble ever occur?
For markets to be efficient, the only element that has to be true is that prices consistently reflect the
information available at that time. However, bubbles are now developing in faster intervals and in
different sectors of the market. Experience flattens out the makings of a bubble and experience also
benefits investors by means of avoiding repeated errors in a particular investment.
Game theory applies to industrial organizations, labor markets and pricing. Game theory rarely
applies to finance. The Nash equilibrium is a term used in game theory to describe equilibrium
where each player 's strategy is optimal given the strategies of all other players. A Nash Equilibrium
exists when

Framing Effects the Sales Promotion by Referring to the...
The concept of framing which is a part of prospect theory (Kahneman and Tversky 1979) is closely
related to the formation of reference price in the consumer's mind. Outcomes above the consumer's
reference point are presented as gains and it affects choice, judgment, and risk–taking differently
than the same alternatives which are below the reference point and are coded as losses by the
consumer. In extant literature, there have been efforts to explain the framing effects of sales
promotion by referring to mental accounting theory. Thaler and Johnson (1986) have proposed that
consumers use hedonic rules to edit their mental accounts, therefore when they see a small gain
(e.g., price discount) relative to a big loss (e.g., purchasing cost), they prefer to separate them
psychologically into two different accounts rather than integrate them. This is the silver lining
principle (based on prospect theory) and it also says that utility functions are concave for gains and
convex for losses, and the curve for losses is steeper than that for gains. Because the size of a
promotion is usually small relative to the purchasing cost, consumers should create a new account
for the promotion rather than integrate it into the purchasing cost, regardless of the promotional
types.
This proposed study aims to use mental accounting theory and sales framing concepts to upgrading
promotions and compare the attractiveness of non–monetary promotions versus price discount
promotions in a

Overview of the WARN Act
For so many years, this nation has been creating policies and laws to protect the people and their
way of life. One particular law that was passed still creates a lot of confusion on whether this law
pertains to them or not. The Worker Adjustment and Retraining Notification (WARN) Act is a
federal law to protect workers, their families, and society from sudden or unforeseen job losses due
to plant closings and massive layoffs. The WARN Act was originally enacted on August 4, 1988, but
it evidentially became effective on February 4, 1989 (Department of Labor, 2013). Unlike other
laws that are enforced by certain government or federal agencies, the WARN Act in which an
employee, their representative, or a government official has the ... Show more content on
Helpwriting.net ...
The Department of Energy (DOE) concluded there were not enough sufficient benefits being offered
to the taxpayers for them to extend the enrichment at the plant (USEC). With the increasing cost of
production resulting from power consumption and the decreasing prices in nuclear fuel, the USEC
felt that it was in their best interest to begin the process of layoffs in order to continue operations
into the next year while trying to manage inventory, meet customer orders, as well as meeting the
turnover requirements with the DOE on its lease (USEC, 2013). To prepare themselves, the USEC
utilized the provisions of the WARN Act to properly commence with their scheduled layoff while
providing proper notice to their employees despite the many years of excellent performance from its
workforce. While the act may provide some control of policy, it can cause quite of bit of confusion
for certain departments of the government. As discussed previously, the WARN Act provides
businesses with a safeguard measure to utilize in the event of a shutdown or mass layoffs, but for the
federal government, many questions came about in light of the recent furloughs and shutdowns. The
WARN Act states that businesses must provide their employees with proper notice, but the furloughs
tested that notion due to being unsure of when exactly the furloughs were going to take place. I am
currently an employee of the Department of

Life Cycle Hypothesis : The Life-Cycle Stages Of A Household
In consumer research, consumption and spending behavior is explained using the life–cycle stages
of a household. The Life–Cycle Hypothesis (LCH) posits three stages of the life–cycle; young,
middle–aged, and retired members of a household. As households go through different stages over
the life–cycle, each stage presents different financial goals and challenges (Baek & Hong, 2004).
The LCH also contends that consumption is a linear function of available cash and the discounted
value of future income; thus consumers will attempt to maintain their lifestyle over their lifetime,
maintaining a relatively continuous level of consumption to sustain their income–to–consumption
ratios, realizing that their income and wealth may fluctuate over time (Ando & Modigliani, 1963;
Baek & Hong, 2004; Soman & Cheema, 2002; Yilmazer & DeVaney, 2005). The process of
maintaining one's lifestyle over a lifetime operates by saving and investing during the working years
and ultimately expending savings and investments during the latter years of life, to supplement the
reduction of income resulting from retirement. Consequently, for a number of consumers who don't
have sufficient income, savings, or investments, borrowing funds by utilizing various forms of credit
presents an opportunity to support their present lifestyle. Borrowing funds illustrates consumption
smoothing. Patterns of credit card usage regarding borrowing and pay–off behavior have been
analyzed within the framework of consumption

Behavioral Enrichment And Monitoring For Animal Welfare
Behavioral Enrichment and Monitoring as Means to Improve Animal Welfare
Although keepers have provided forms of enrichment to zoo animals for years, interest in
scientifically raising captive animals' standard of living has grown (Ben–Ari, 2001). Behavioral
engineering, also known as behavioral, animal, or environmental enrichment, is a type of husbandry
technique used to better the physiological and psychological states of animals, conserve species by
raising the rate of reproduction, diversify suitable behaviors, reduce stress and predatory and
aggressive acts, increase learning ability, and/or provide animals with exercise, entertainment, or
some sense of control in their environment (Ben–Ari, 2001). Enrichment can take many forms, such
as the addition of novelty objects to an animal's environment, renovating exhibits, and training
(Ben–Ari, 2001). However, Ben–Ari (2001) details the emergence of a standardized scientific
method of enrichment, in which enrichment strategies are planned, executed, observed, documented,
assessed, and then modified. Nevertheless, intensive studies are not feasible for all zoos (Ben–Ari,
2001). For example, only 2 percent of enrichment at Disney's Animal Kingdom is evaluated through
12 weeklong projects (Ben–Ari, 2001). Although not widespread yet, these types of strategies take
animals' mental states and behaviors exhibited in the wild into account (Ben–Ari, 2001). Because
biologists have not documented every species' wild behavior,

Paleolithic Religion: The Genesis Of Belief Essay
Anthropology is the study of humanity. One of the questions the discipline has striven to answer
from it's very conception is the question of what it is that ultimately makes us human. Where is that
unique distinction that takes us from being just another creature populating the world and the fossil
record and pushes us that next step to something more?
According to Donald Johanson in his book From Lucy To Language,
A human is any of the species Homo sapiens ("wise man"), the only modern living member of the
family Hominidae. The Hominidae, or hominids, are a group of upright–walking primates with
relatively large brains. So all humans are hominids, though not all hominids could be called human.
(1)
Under this definition, we are in ... Show more content on Helpwriting.net ...
We "...can draw on neither inscriptions nor texts; nor can [we] question prehistoric people about
their beliefs" (Hinnells 4). But these first religious practitioners did not leave us totally without
record of their beliefs and their lives. Perhaps one of the best sources of information on Paleolithic
belief comes as close to straight from the mouths of these ancient peoples as possible – or, rather,
from their fingers. These records are the art they left behind, decorating stone walls all across the
globe with incredibly consistent images of running animals and spear–carrying hunters. Pictures of
people seemingly crossed with those animals, and of surprisingly anatomically accurate depictions
of all creatures great and small.
We cannot "read" these images and marks. Nevertheless, an extraordinarily complex composition
has begun to seem organized, purposeful, notational, and part of a tradition that composed storied
sequences or sums with a repertoire of images. This way of thinking is one we can understand.
(Marshack 212)
By this assumption, the images are not simply pictures. They are part of a deeper symbolism that
seems to have ranged all across the globe;

Finance; The Efficient-Market Hypothesis
Introduction
Efficient–market hypothesis
In finance, the joint hypothesis trouble, or the efficient–market hypothesis, states that financial
markets are "informational competent ". Besides this, one cannot constantly achieve returns beyond
average market income on a risk–adjusted basis, with the information obtainable at the moment the
investment is complete.
There are three main hypothesis versions: "strong", "semi–strong", and "weak". The EMH weak
form claims that rates on traded assets (e.g., bonds, stocks, or property) already reveal all past
openly available information. The EMH semi–strong form claims both that costs reflect all publicly
accessible information and rates instantly vary to reflect latest public information. The EMH strong
form additionally claims that rates instantly reflect even insider or "hidden" information. Critics
blamed the faith in rational markets for greatly of the late–2000s economic crisis. In reply, the
hypothesis proponents have affirmed that market efficiency does not imply having no uncertainty
concerning the future, that market–efficiency is an overview of the world which might not always
hold factual, and that the market is basically efficient for investment reasons for most people.
Historical background
In history, there was an extremely close connection between EMH and the arbitrary walk hypothesis
and subsequently the Martingale form. The stock market prices random character was first modeled
by, a French broker, during 1863 and

Argumentative Essay: The Animal Welfare Act
Seventy percent of the human population in America are on at least one prescription drug. That
means that thirty percent is either lucky enough to not need one or make the choice to not take them.
Animals, on the other hand, have never and will never be given the choice, Tramadol or
Hydrocodone, for the pain that humans inflict. Although animal testing contributes to life saving
cures, innocent animals are tested and harmed inhumanely because organizations don't follow
Animal Welfare Act rules. Animals are not the same as humans, therefore the same result cannot be
attained. There are other alternative testing methods that now exist and can replace the need for
animals. It is humanity's duty to provide a voice for these innocent animals. Dating ... Show more
content on Helpwriting.net ...
The Animal Welfare Act takes a huge part in the testing. The act was passed in 1996 to establish
regulations in zoos, aquariums, puppy mills, animal dealers, circuses, and research facilities. In
order to abide by the regulation, minimum care must be provided, included housing, handling,
sanitation, nutrition, veterinary care and extreme weather conditions. Despite the name "Animal"
Welfare Act, it does not cover all animals. "Exact numbers aren't available because mice, rats, birds,
and cold blooded animals– who make up more than 99 percent of animals used in experiments– are
not covered by even the minimal protections of the Animal Welfare Act and therefore go
uncounted." ("Animal Testing 101"). Equally Important, animal are also very different from humans.
They may be biologically similar but their brains do not work like ours. "A neurologically complex
disease like schizophrenia is hard to model in an animal in the first place– you can't ask a mouse
questions, after all–– so testing if a drug reduces symptoms is even more difficult." ("About Animal
Testing".) Obviously the negatives, AWA and differences biologically conquer the

Teaching Philosophy and Classroom Behaviour Management...
TEACHING PHILOSOPHY AND CLASSROOM BEHAVIOUR MANAGEMENT PLAN
Griffith University Personal Philosophy of Teaching and Learning
A classroom is a very dynamic and spontaneous place. Every classroom is comprised of a diverse
combination of individuals who all contribute to the unpredictable nature and uniqueness of the
class. The reality that no two students are alike and no two classes are ever alike, contributes greatly
to the difficulty of establishing a realistic and effective classroom management plan. It is important
that teachers realize that a classroom is an unpredictable place and that it is much more reasonable
to strive to manage their classroom as opposed to trying to control it. I see my role as a managing
teacher as ... Show more content on Helpwriting.net ...
Students should be given choices when it is at all possible and they should always be treated with
respect. Rogers presents a number of very useful and reasonable suggestions for successful
behaviour management. By combining the ideas from each of the theories that best suit my
classroom situation I hope to be able to create a learning environment that not only makes my
students feel safe, but also inspires them to be creative and allows them to learn to their maximum
potential.
In order to allow for optimal learning there are a number of other issues which must be addressed
including gender issues, bullying and inclusive education. While growing up my older brother got
bullied a lot. As a result of these experiences I have always had a serious opposition to any and all
types of bullying. When I become a teacher I plan to establish a no tolerance policy for any and all
types of hurtful behavior. I will discuss bullying with my class and through role play and group
discussions make them aware of the issue. It also is extremely important for teachers to remember
that boys and girls are different. They learn differently, they behave differently and as a result have
distinct needs in a classroom. Unfortunately with so many female teachers at the primary level the
education system is becoming feminized and boys are being left behind. As a female teacher at the
primary level it

Framing From Experience : Cognitive Processes And...
Published in the July 2016 issue of Cognitive Science, Gonzalez and Mehlhorn's article, "Framing
from Experience: Cognitive Processes and Predictions of Risky Choice," seeks to advance the work
of renowned behavioral economists Tversky and Kahneman. Tversky and Kahneman, a seminal
pairing in the fields of economics, cognitive science, and psychology, investigated biases in human
decision making that led people to make sub–optimal choices. One of their principle theories,
prospect theory, framed decision–making in two graphs. First, they proposed a value graph
comparing the subjective and actual values of gains and losses. It took the form of an asymmetrical
s–curve, with humans experiencing more displeasure from losses than pleasure from gains and
reaping less marginal pleasure from further gains once already at a position of significant gains
(Kahneman & Tversky, 1984). Second, they proposed a probability graph which showed that
humans tend to overweight low likelihood events and underweight high likelihood events
(Kahneman & Tversky, 1984). Taken together, these functions explain some elements of human
behavior: people are generally more loss–averse than gain–seeking at a neutral position, they value
gains more at a position of loss, and they value gains less at a position of gain. These three human
decision–making patterns combine to generate what Tversky and Kahneman called the framing
effect: the phenomenon whereby human decision–making is impacted based on whether

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