Loss Aversion Essay Example | Topics and Well Written Essays - 1000 words

Loss Aversion - Essay Example In this particular source, the author discusses the issue of cost aversion from a phenomenal perspective. This is because the writer treats the topical issue of finance and cost aversion from a rational perspective where he makes use of radical human experiences to understand the basic principles of finance rather than using complex financial terminologies. Due to this reason, the writer introduces a theme, which is refers to as mental accounting. By mental accounting, each member of the wider population is assumed to be a financial expert because in one way or the other, the person uses his or her mental faculties to undertake and comprehend basic marketing and financial principles. The focus of the work of the writer can therefore be said to be looking at marketing and finance from a behavioral approach rather than a technical approach. From a personal analytical view, it would be said that the content of the writer’s work may concern some justifiable points but not much work was done by the writer to prove the authentication of the facts presented. For instance there was not the use of any financial models. The source would however be strongly criticized on the lack of empirical financial models being used in the data collection process. Though a finance and marketing paper, the writes are seen as writing from a more behavioral perspective. This dismisses the use of any well defined quantitative arguments that could offer a generalized persuasion of the arguments put forth. Camerer, Colin. Three Cheers--Psychological, Theoretical, Empirical--For Loss Aversion. Journal of Marketing Research, Vol. 42, No. 2 (May, 2005), pp. 129-133. Available at http://www.jstor.org/stable/30164010 Camerer (2005) is credited as a multi-disciplinary scholar whose research cuts across several fields and acreas of study. His major area however happens to be in finance. The source put forth by Camerer (2005) is

It is a summary, so i don't know which better topic could be. please Essay

It is a summary, so i don't know which better topic could be. please write the best, thanks - Essay Example edge over the then available coloring products since it penetrated the scalp, and nourished the hair along with dying it, and Gelb later introduced the single-step coloring process called Miss Clairol Hair Color Bath. With the release of Miss Clairol, the number of women opting for hair dying increased drastically. Polykoff, the model advertising the Miss Clairol Hair Color Bath, had to select the ad very prudently, but still some controversies arose particularly because of fact that Gelb’s product could be applied at home personally came as a threat to the salons’ business. The company’s objective was to sell the product without causing any damage to the hairdressers’ status along with emphasizing upon the automaticity of the product to sell it. Miss Clair not only portrayed the image of a new woman, but also inspired many companies to open as its competitors, that are known as some of the most reputable brands

Industrial Disturbances in Cities: Case Study of Nigeria

Industrial Disturbances in Cities: Case Study of Nigeria THE PERCEPTION OF INDUSTRIAL DISTURBANCES IN NIGERIAN CITIES: A GEOGRAPHICAL APPRAISAL OF  BENIN- CITY A. 0. Atubi Abstract The major aim of this research work is to determine the perception of industrial disturbances by Benin City residents. This refers to the disturbances created by the availability of heavy manufacturing industries around residential areas of the city. For this purpose, a total of 158 residents were sampled, to generate the data for this research. Multiple correlation analysis was used to test for the significance between the perception of residents who live close to industrial establishments and those who live far off. This revealed that 58% of residents in the study area perceive industrial disturbance as caused by industries around their neighbourhood, leaving 42% unaware to ignorance, indifference etc. The analysis of variance (ANOVA) statistics and chi-square test were also used. The overall findings of this research bring to the fore the fact that a high percentage of Benin-City residents are not aware of industrial disturbances. Introduction Although the level of industrialization in Nigeria is still very low, its growth rate in the recent past has been significant. This growth rate was largely due to the availability of a large investible capital in the mid 70s (owing to oil revenues) and a growing commitment on the part of government to planned economic growth. Industrial growth is not likely to diminish drastically because of the growing awareness of the need to produce most essential commodities locally and more recently the ban slammed by the Federal Government of Nigeria on the importation of goods, which can be produced locally. Consequently, industrial expansion is likely to continue, in spite of, or even because of the present economic depression. The industrial establishments arising from these processes are located within the framework of a low level and primate pattern of urbanization. Industries spring up in tens annually and most of these are located alongside residential areas in most state capitals and urban centres where women spend 3/4 of their time engaging in various economic activities (Uchegbu, 1998). Consequently, the few urban centres in Nigeria have tended to be the monopolistic locations of these industries. There are now more than 3,000 industries of various categories in the country with about half of this number located in Lagos metropolis alone (Uchegbu, 1998). Perhaps, a more compelling reason for examining the mental images or perceptions people hold of the emerging industrial environment in our cities relate to one underlying assumption regarding the attitude of developing countries to environmental issues. The view is widely held that a major concern and pre-occupation in most developing countries is with economic growth and development and that people are indifferent to and place low premium on environmental quality. This attitude arises from a perception that economic growth and environmental quality are mutually exclusive. Environmental problems/disturbances can be in form of soil erosion, pollution, flood, deforestation, bio-diversity loss, and degradation, quarry and mining problems etc (Adedibu, 1997; Ajayi, 1997 and Odetunde et. al., 1998). Environmental degradation, in general terms, refers to the process that may act to force the condition of a part of the earth’s surface of its surrounding atmosphere to become unpleasant or less useful to man (Akinyele, 2000). The natural environmental settings covers the atmosphere, hydrosphere, lithosphere and biosphere (Olorunfemi and Jimoh, 2000). Within these spheres are a number of interactions that propelled the different types of human related activities. The term environment literally means surroundings, circumstance or influence (Ajibade, 2000). Environmental pollution is a diverse problem experienced all over the globe today, this experience cuts across both the developed and developing worlds. In 1985, the Polish Academic of Sciences described heavily industrialized Poland as the most polluted country in the world (Miller Jnr, 1994). Air, water, and soil are so polluted that at least 1/3 of the people risk contracting environmentally induced respiratory illnesses, and a host of other diseases. Coal supplies 80% of Poland’s energy most of the country’s industrial and power plants have no pollution control technology whatsoever or, at least ineffective controls. Satellite photographs show that the biggest clouds of smokes in Europe hang over southern Poland, partly because large coal burning plant’s have shutdown their pollution control equipment to save power and money (Miller, Jnr, 1994). Adeoti (2004), stated clearly that, industry has been reckoned to contribute much to environmental pollution in developed countries and much research has been done to proffer technological solutions. So far, work on this area has been largely limited to developed countries. However, there has been increasing advocacy that developing countries need not follow the environmentally unfriendly development path of industrialized countries (Adeoti, 2004). Aghalino (2000), asserted that the impact of oil exploitation on the oil mineral producing communities are in three folds. First, it leads to environmental pollution. Secondly, it destroys the ecosystem and the ways of life of the people and lastly, the oil producing communities are generally underdeveloped. Jimoh (2000), made a factual assertion on the interaction between man and his environment. â€Å"Man is a product of the environment as the latter is also an important component in the life of the former. Thus, protecting the environment of man from destruction is inevitable†. Many industrialists have viewed industrial progress and environmental protection as mutually exclusive, but Odiete (1993), advocates that industrial progress and environmental protection must be complementary rather than mutually exclusive. Although Benin City has no major processing industries such as oil refineries, iron and steel or metallurgical industries that usually contribute heavy pollution to the ecosystem, there exist nevertheless other industries like pulp and paper, aluminium, breweries, rubber processing, plastic, livestock feeds, non-alcoholic beverage etc, which generate pollutants. Some of these industries produce noise and thermal changes. Plants and heavy machines used in factories/industries make a hell of noise during their production period (Uchegbu, 1998; Ozo, 1988). Materials and Methods of Study The data on which the study is based were collected through questionnaire survey in 2005 from four zones to which Benin-City was divided. These are Ekenhua road area, Ihama-Boundary road area, Oregbeni quarters of lkpoba hill, and upper Siluko road area (see fig 1). 158 questionnaires were used in this study and the number of questionnaires that were administered in each sampled area depended on the population of that zone. Based on the population, 39 (thirty nine) questionnaires were administered in Ekenhuan, 39 (thirty nine) were also administered in Oregbeni quarters, while 38 (thirty eight) questionnaires were administered in upper Siloko area. In the course of the administration of the questionnaires, the streets and houses were chosen using the systematic sampling techniques. Two questionnaires were used in every eight houses in each street. Responses from the questionnaires were used for data analysis. Averaging model and percentages were used to summarise the data while multiple correlation was used to determine the individual and overall contributions of industrial disturbances in the study area. The analysis of variance was used to examine the variability in industrial perceptions; while the chi-square test was used for testing whether the variables are independent or related. Study Area Benin City plays a dual function of being the capital of Edo State and the headquarter of Oredo Local Government Area. The 1991 census puts the total population of Benin City at 762,717. It lies approximately between latitude 6 °16’N and 6 °33’ North of the equator and longitude 5 °3l’E and 5 °45’ East of the prime meridian. It covers an area of l,2158q.km. Benin City is bounded to the north and west by ovia North East Local Government Area, to the North East by Uhunrnwode Local Government Area, to the East by Oriohwon Local Government Area and to the South by Ugbenu village in Delta State (see fig.2) FIG 1: MAP OF EDO STATE SHOWING STUDY AREA Source: Ministry of Journal of Cartography and G.I.S, (2002) FIG 2: MAP SHOWING BENIN CITY IN EDO STATE Discussion of Results and Findings Table 1: Educational status Source: Fieldwork, 2005 A megre 30.4% of the total respondents are equipped with tertiary education as against a majority of 55.1% of respondents who posses only secondary education. This to a large extent, brings to fore the low level of education in Benin City and in third world countries in general. Table 2: Reponses to listed disturbance Source: Fieldwork, 2005 Key 1 = Very Serious 2 = Slightly Serious 3 = Not Serious From table 2, only columns I and 2 are relevant for this analysis. This is because; these are the respondents that perceive some level of seriousness associated with the industrial disturbances they experience in their area. The responses from column 3 is however not relevant because these respondents do not consider the disturbances as serious and as such do not see the disturbances as posing any danger to human and animal life and to the ecosystem in general. In order to ascertain whether the variables are independent or related, the chi-square test was applied. A calculated value of 34.7 and a table value of 26.30 was obtained. This implies that, the industrial disturbances in the study area is significant enough to attract attention. This also shows that there is a significant difference between those who perceive industrial disturbances and those who do not, in Benin City. Table 3: Awareness status from each area Source: Fieldwork, 2005 A good number of respondents in the different study locations were aware of the disturbances posed by heavy industries. Others were totally unaware. The combination of the respondents who are not aware and indifferent to industrial disturbance shows that a larger proportion of the respondents are ignorant of industrial disturbances. To re-assess the respondent’s premium placed on environmental quality, the question â€Å"Do you consider the environmental impact of your daily activity† was asked. The responses are tabulated below in table 3. Table 4: Premium placed on Environmental quality Source: Fieldwork, 2005 The above analysis clearly shows that the majorities, represented 87.38% of the total respondents, do not consider the environment in their daily activities. One of the research hypotheses, which states that â€Å"there is no significant difference in perceptions between residents who are aware of industrial disturbances and those who are not aware† is tested with the analysis of variance (ANOVA) statistical technique. Since the table value of 19.4 is less than the calculated value of 665.78, the null hypothesis is rejected. The alternative hypothesis which states that â€Å"there is a significant difference in perception between residents who are aware of industrial disturbances and those who are not† is thus accepted. This implies that there is a significant variability between those who perceive industrial disturbances and those who do not, between and within each area. (See Appendix A for all necessary computations). Table 5: Magnitude of disturbance Area-by-area Source: Fieldwork, 2005 Here, only residents who perceive the problem as very serious and slightly serious was considered. This is so because, those who do not perceive the disturbances are not relevant in determining the correlation. Table 6: Perceived Industrial disturbances and data for multiple correlation analysis Source: Fieldwork, 2005 Appendix B contains details of the correlation among the four variables. The relationship between the variables is 0.024 (see Appendix B for all necessary computations). The percentage variation of perception of industrial disturbances in the different areas of the study area is 58%. This implies that 58% of the residents in Benin-City perceive industrial disturbance as caused by industries around their neighbourhood, leaving 32% unaware to ignorance, indifference and other reasons. Policy Implications/Recommendations Laws and policies guiding land use should be formulated. This should be done to specific areas of the city or town, which is meant for different uses. Areas for residential, commercial, industrial, administrative recreational, etc. purposes should be well spelt out. Also, such laws should he reviewed periodically to meet up the dynamic nature of human society. Where laws guiding the pattern of the land use in a state, town or city exist they should he effectively implemented and enforced to see that the aim of formulating such laws are achieved. We have a society today where the majority is lawless and as such indiscipline prevails. Environmental Auditing, sometimes called post impact Assessment should be carried out on industries from time to time to make sure that they comply with the environmental safety rules. It should be done especially For industries, which are located around residential areas. This is to check environmental degradation. Both residents and industrialists should be properly educated citizens who wish to develop residential houses should be educated properly in order not to site the building in an industrial layout or close by. Also, industrialists should be oriented on how to keep their factories only to the laid-out areas for industrial purposes in order to avoid future environmental problems. Conclusion This study has x-rayed the perceptions of Benin-City residents towards industrial disturbances. This was evident, as areas, which were delimited for residential purpose have been enveloped by industries and vice versa. This study has also enumerated some of the disturbances caused by industries and suggested possible ways of averting and possibly correcting the ugly trend. References Adedibu, A. A. (1997). Trends in environmental management of drainage, sewage and solid waste in Kware State. A Paper presented at a workshop organized by Kwara State environmental protection agency. Ilorin. Agahlino, 5. 0 (2000). Troleum exploration and environmental degradation in Nigeria. In Jimoh, H. I. And Ifabiyi, I. P. (Eds) contemporary issues in environmental studies, Ilorin; Haytee Press and publishing Co. Ltd. Ajayi, P. S. (1997). Overview of environmental problems in Kwara State: Priority for Action. A paper presented at a workshop organized by Kwara State environmental protection agency, Ilorin. Akinyele, M. A. (2006). A GIS approach to the study of land degradation Journal of the Nigerian Cartographic Association. Vol. 1(1), pp. 7 26. Ajibade, L. T. (2000). The environmental systems In Jimoh. H. I. and Habiyi, I. P. (Eds) Contemporary Issues in Environmental Studies, Ilorin Jimoh, H. 1. (2000). Man-environment Interactions In )irnoh, H. 1. And Ifabiyi, I. P. (Eds). C’ontemporary Issues in Environmental Studies, Ilorin: Haytee press and publishing Co. Ltd. Miller, G. T. (1994) Living in the Environment. California: Wadworth Publishing Company. Odetunde, 0. J. and Ayeni, A. E. (1998). Environmental protection Salako, W. A et al., (Eds) In: Citizenship Education, A concise Approach. lbadan: Lad-od Publishers. Odiete, W. 0. (1993)Environmental Impact Assessment for sustainable Development.† Environmental News October December, Olorunfemi, J. F., and Jimoh, H. I. (2000). Anthropogenic activities and the environment. In Jimoh, H. I. And Ifabiyi, I. (Eds). Contemporary Issues in Environmental Studies. Ilorin: Haytee press and publishing company Ltd. Ozo, A. O. (1988). Perception of Industrial pollution: A case study from Benin City. In Sada P.O. and Odemerho F. 0. (eds) Environmental Issues and Management in Nigerian Development. Evans Brothers (Nigeria Publishers) Limited. Uchegbu, S. N. (1998). Environmental management and protection. Enugu: Precision Printers and Publishers. Appendix A Analysis of Variance (ANOVA) Calculations Sum of squares within and between groups SSW=26+266+416+290.67 SSW=998.67 SSb= Ekenhaun=3(13-13.2)2 = 0.12 Ihama/boundary=3-13.2 Oregbeni =3(14-13.2) = 1.92 Upper Siluko=3(12.3-13.2)=0.75 Means sum of squares within (MSW) MSW=SSW N-M MSW=998.67=998.67 12-39 =110.9 ≈111 MSb=SSb M-1 MSb=2.91=2.91=1.453 3-12 =1.5 F ratio=Greater variance estimate Lesser variance estimate =998.67=665.78 1.5 Calculated value=665.78 ANOVA TABLE APPENDIX B Multiple Correlation Calculations r11=1.00Suggesting a perfect correlation r12=-0.268Suggesting a negative correlation r13=-0.084Suggesting also a negative correlation r14=0.01Suggesting a positive but weak correlation r22=1.00Suggesting a perfect correlation r23=0.38Suggesting a positive correlation r24=0.651Suggesting a positive and strong correlation r34=0.668Suggesting a positive and strong correlation r44=1.00Suggesting a perfect correlation

Summary of KES :: essays research papers

KES Kes is a story of knowledge, of love and not just about a boy and his hawk, It shows the life of a boy from a poor family, and his struggle to get through his teenage years, a story of a boys life which was planned before he was even born. It all starts with a boy named Billy Casper, Billy is the central character in the play and some may say that he is no angel but is he really a villain? He may have nearly knocked Mr Porter of his ladder and he hits Jud when he’s drunk but all of his wrongdoings are never unprovoked, like when Jud steals Billy’s food and pushes him out the way whenever he’s in a hurry. Billy is bullied in school because of his size, as he is a lot smaller than all the other children, he is mistreated by his mother by his fellow peers and by his teachers, but not all his teachers, Mr Farthing is probably the only person that Billy trusts to be around Kes because, he understands, he understands that Billy isn’t the sharpest tool in the box and that his bird is the only thing that set’s him apart from all the other children in his school. Where many would have just given up trying to tame the bird, Billy has exceeded he is now confident enough to give a speech in front of the whole class because in his mind he is one thing that all the other boys aren’t, he is unique. The story is set in a run down Yorkshire mining town where the best job you can get is ending up down dingy old, dark shaft mining. Billy’s family is broken. Jud, mum and Billy constantly bicker and bully each other. Billy realises that most of his problems come from home and the fact that no one supports him, everything started to go wrong for Billy when his dad left and all we hear about him is that â€Å" He ere a wrong en †. There is no one to provide support for Billy –the only person who does is Mr Farthing. Billy loves Kes and she becomes part of his family. It is doubly cruel that Kes is killed by Jud, who should know how much the bird meant to Billy. Family life then is not always happy, but it’s possible to survive, yet it affects people’s behaviour and attitudes.

Hinduism and Buddhism vs. Confucianism and Taoism Essay

Hinduism is, some would say, the world’s most ancient and sprawling religion. Its scriptures and teachings are voluminous and wide-ranging, addressing everything from science and history to philosophy, art and, of course, spirituality. Comparatively speaking, the Hindu teachings are uniquely inclusive rather than exclusive. One of its early Vedas openly recognizes the universality of the spiritual path: â€Å"Truth is one; sages call it by different names.† As in Buddhism, Hinduism stresses the necessity of letting go our compulsive attachment to, and fascination with, the ego or the self, so that we can realize The Self, or selflessness. The differences in supreme beings between Hinduism and Buddhism show two extremes of the same idea. Hinduism believes in one Supreme Being, but separates its characteristics into many different Gods. Everything is a part of the Supreme Being. Buddhism sees the individual’s thought and nature as supreme, and therefore does not ha ve a single God, and so turns inward instead of outward. Similarities between views of man and nature greatly show the progression from Hinduism to Buddhism as the same ideas of everything being one and the same are expressed in different contexts. Both religions are also similarly based on attaining certain knowledge in order to reach salvation or Nirvana. Taoism and Confucianism have to be seen side-by-side as two distinct responses to the social, political and philosophical conditions of life two and a half millennia ago in China. Whereas Confucianism is greatly concerned with social relations, conduct and human society, Lao Tzu emphasized the need to look beyond the promises and treaties of human beings for a source of peace and contentment; and he urged to return to nature’s way, that is, a simple and harmonious life. Chuang Tzu developed Taoism emphasizing on the natural way as opposed to the artificial and contrived way of persons. The Tao is similar to the Christian God in that is omnipresent and all powerful. It is also an impersonal, impartial force, however, much like â€Å"the force† of George Lucas’ Star Wars. Tao means, more or less, â€Å"the way of things,† both material and immateria l, not dissimilar to the Buddhist term dharma. Taoism centers upon the absolute necessity, uniqueness, pervasiveness and indefinable elusiveness of this peculiar â€Å"way.† The following passage from the Tao Te Ching is a typical description of the Tao. â€Å"The Tao that can be told is not the eternal Tao. The name that can be named is not the eternal name.† Confucius thought that the problems of his time originated from  sovereign power used without moral principle. To cure this problem, he urged that the government should be administered for the benefit of all the people; and this is possible if the government officials were of the highest personal integrity and cared about the people as much as they did about themselves. (Do unto others as you would have them do unto you). 3. Perfection can be realized by following the inner Way (Tao) of nature. Tao is manifested in the workings of nature, for what individual things possess of Tao is the te, or function, of Tao. Tao, as a source, provides for the very existence of beings, but the function of Tao provides for their distinctness. Nonaction (wu-wei) is what things inherit from Tao as their function. â€Å"Tao invariably takes no action, and yet there is nothing left undone.† Non (artificial) action is letting things be accomplished in a natural and spontaneous way. The word â€Å"jen† means ‘virtue,’ ‘benevolence,’ ‘true humanhood,’ ‘moral character,’ ‘love,’ ‘human goodness,’ and ‘human-heartedness’. What makes us human is a matter of feeling as well as thinking; Chinese emphasize on the heart, rather than the reason, as the central feature of human nature. To realize jen, guides to action in everyday life are needed. Confucius found these guides in the rules of li (propriety). Li governs customs, ceremonies, and relationships established by human practice over the ages; and jen is realized through li. Jen is the ground of li; what makes li a standard of conduct is the fact that it is in accord with jen. Customs and regulations not in accord with jen are not really li. By li, we tame our unruly impulses and transform them into civilized expressions of human nature: that is, li is the means by which our humanity (jen) can be evoked and developed. â€Å"†¦ Li is the principle by which the ancient kings embodied the laws of heaven†¦Ã¢â‚¬  The word â€Å"li† means propriety in everything: moral discipline in personal conduct, the general principle of the social order, ritual and ceremony, a system of social relationships with definite attitudes toward one another, love in the parents, filial piety in the children, respect in the younger brothers, friendliness in the elder brothers, loyalty among friends, respect for authority among subjects, and benevolence in rulers.

Business Organization Essay

In 2005 my aunt left me an inheritance. It was a large sum of money. There was a stipulation to receiving this gift. I needed to invest in a company of my choice. My last employer was a cleaning company and I approached my old employer with a proposition. I and another business partner that I convinced in investing with me would organize a joint-stock company. This was to be a private partnership, as well as a limited partnership. So I approached him with this idea and he agreed. So after several negotiations the other investor and I devoted the majority of shares to this company. We received a registrar of completion certificate for this joint company venture and we expected our common seal to come next. We also had to increase the liability insurance before registering with state authorities as a Limited Liability company (LLC). With this Partnership all investing parties agreed that there would be a semi-annual information report to look at income deductions and any gains or losses that the company might occur. This is to insure mutual interests and success. The semiannual meetings would also indemnify any problems or debatable issues. It is now 2010 and the company has developed into a four person joint stock company, opening three more cleaning offices and we are in the process of franchising. In 2000 I had a dream and that was to open a gym called Anytime Fitness. Well, this dream was put on hold when I invested in other enterprises. So, I talked to my wife and she agreed to help me open up this fitness facility and she would have sole proprietorship and I would be a silent partner. I give thanks in my prayer to my aunt who gave me this opportunity.