...AQA Sociology questions on Gender and Education suggest 3 reasons for boys educational underachievement boys mature later, and overestimate their ability so don't work hard enough girls are more motivated and so work harder equal opportunities have benefited girls more than boys. Outline some of the reasons for the educational underachievement of boys there are many different reasons that can tell us why boys tend to underachieve in education. Some of these reasons include the 'laddish' sub-culture of boys, boys behavioural problems, boys over-confidence, and the decline of traditional male jobs. One reason that explains the underachieve of boys in education is because of the introduction of 'laddish' subcultures. Forde et al peer group pressure encourage boys to maintain a masculine identity, which is mainly developed through resistance to school and can therefore be related to boys academic success. This anti-learning subculture often involves regarding academic work as feminine, and adopting a disruptive classroom behaviour. Francis' research in 2000 confirmed this view. He also found that boys receive more credit from their peer group by resisting teachers and school, which contributes to their inevitable underachievement. Another reason which could result in boys underachievement is boys behavioural problems. Studies have shown that more boys than girls have behavioural problems and are therefore more likely to be disruptive in class and get excluded...
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...girls and boys has improved over the past twenty years, a significant gender gap in achievement has developed. Girls now outperform boys in most subjects and at most levels of education. This is especially true of pupils at GCSE where 10% more girls than boys achieve five or more A* – C grades. Some sociologists claim that gender differences in achievement are the result of changes in wider society, such as the impact of feminist ideas and changing employment opportunities for both girls and boys. However, others argue that the education system has become ‘feminised’, for example through an emphasis on coursework in assessment, which may favour girls. Furthermore, a lack of male primary school teachers means that many boys do not have an adult male role model in their early experiences of school. Using material from Item A and elsewhere, assess the claim that gender differences in educational achievement are primarily the ‘result of changes in wider society’ (20 marks) Gender differences in educational achievement have changed drastically over the past twenty years due to many various factors including alterations in wider society and the reshaping of the education system itself. Girls are now outperforming boys in the majority of subjects at all levels of education prompting an ongoing argument between sociologists on the reasons behind this change. Some sociologists claim that the reason for such a difference in the level of achievement between genders is a result...
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...© Roger Bougie 2011 CASE ANALYSIS: SCIENTIFIC INVESTIGATION THE PACIFIC FUTURES TRADING COMPANY For some time, theoretical and empirical evidence suggested that the Efficient Market Hypothesis, the Capital Asset Pricing Model, and other rational financial theories did a good job of predicting and explaining the behavior of investors. However, recently, the ‘rationality’ of financial markets - and more specifically investors - is a hot topic in the financial economics literature. Recent research has argued and shown that investors often make mistakes; they behave irrationally and exhibit a number of financially damaging biases, such as loss aversion, herding, overconfidence, and overreaction (Barber and Odean, 2001; DeBondt and Thaler, 1986; Fischoff and Slovic, 1980; Gervais and Odean, 2001; Huberman and Regev, 2001; Kahneman and Tversky, 1979). These irrationalities are frequently attributed to psychological factors such as fear, greed, regret, and other emotional responses to price changes and changes in personal wealth. A growing number of economists, psychologists, and financial-industry professionals have begun to use the terms ‘behavioral economics’ and ‘behavioral finance’ to differentiate themselves and their ideas from the standard, rational theories (such as the Efficient Market Hypothesis) in economics and finance. Akrisios Stathopoulos is the President of the Pacific Futures Trading Company (PFTC). Futures trading is a form of investment which involves speculating...
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...Behavioural Finance Martin Sewell University of Cambridge February 2007 (revised April 2010) Abstract An introduction to behavioural finance, including a review of the major works and a summary of important heuristics. 1 Introduction Behavioural finance is the study of the influence of psychology on the behaviour of financial practitioners and the subsequent effect on markets. Behavioural finance is of interest because it helps explain why and how markets might be inefficient. For more information on behavioural finance, see Sewell (2001). 2 History Back in 1896, Gustave le Bon wrote The Crowd: A Study of the Popular Mind, one of the greatest and most influential books of social psychology ever written (le Bon 1896). Selden (1912) wrote Psychology of the Stock Market. He based the book ‘upon the belief that the movements of prices on the exchanges are dependent to a very considerable degree on the mental attitude of the investing and trading public’. In 1956 the US psychologist Leon Festinger introduced a new concept in social psychology: the theory of cognitive dissonance (Festinger, Riecken and Schachter 1956). When two simultaneously held cognitions are inconsistent, this will produce a state of cognitive dissonance. Because the experience of dissonance is unpleasant, the person will strive to reduce it by changing their beliefs. Pratt (1964) considers utility functions, risk aversion and also risks considered as a proportion of total assets...
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...Behavioural Finance Martin Sewell University of Cambridge February 2007 (revised April 2010) Abstract An introduction to behavioural finance, including a review of the major works and a summary of important heuristics. 1 Introduction Behavioural finance is the study of the influence of psychology on the behaviour of financial practitioners and the subsequent effect on markets. Behavioural finance is of interest because it helps explain why and how markets might be inefficient. For more information on behavioural finance, see Sewell (2001). 2 History Back in 1896, Gustave le Bon wrote The Crowd: A Study of the Popular Mind, one of the greatest and most influential books of social psychology ever written (le Bon 1896). Selden (1912) wrote Psychology of the Stock Market. He based the book ‘upon the belief that the movements of prices on the exchanges are dependent to a very considerable degree on the mental attitude of the investing and trading public’. In 1956 the US psychologist Leon Festinger introduced a new concept in social psychology: the theory of cognitive dissonance (Festinger, Riecken and Schachter 1956). When two simultaneously held cognitions are inconsistent, this will produce a state of cognitive dissonance. Because the experience of dissonance is unpleasant, the person will strive to reduce it by changing their beliefs. Pratt (1964) considers utility functions, risk aversion and also risks considered as a proportion of total assets. Tversky and Kahneman...
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...2nd Summative Test Practice Exam 2011-2012 1.|Your psychology professor has announced that the next test will assess your understanding of sensation and perception. When you receive the test, however, you find that very few questions actually relate to these topics. In this instance, you would be most concerned about the ________ of the test.| A)|reliability| B)|factor analysis| C)|standardization| D)|validity| E)|normal distribution| 2.|One of the most consistently damaging teratogens is:| A)|epinephrine.| B)|testosterone.| C)|serotonin.| D)|dopamine.| E)|alcohol.| 3.|The best predictor of a couple's marital satisfaction is the:| A)|frequency of their sexual intimacy.| B)|intensity of their passionate feelings.| C)|ratio of their positive to negative interactions with each other.| D)|experience or nonexperience of a prior marriage.| 4.|Compared to authoritarian parents, authoritative parents are likely to be:| A)|more conservative.| B)|less educated.| C)|more responsive.| D)|less trusting.| 5.|The relative lack of neural interconnections in the brain at the time of birth most directly contributes to:| A)|poor memory for early life experiences.| B)|decreasing responsiveness with repeated stimulation.| C)|an insecure attachment to one's primary caregiver.| D)|the fear of strangers commonly displayed by infants.| 6.|The fact that many happy and well-adjusted adults were once rebellious and unhappy as adolescents is most relevant to the issue...
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...Thinking, Language and Intelligence THINKING = Cognition = mental activities involved with knowing, remembering, and communicating 1. Using (and underlining) text terms of concepts, hierarchies and prototypes, explain why it is more difficult for people to perceive illness when their symptoms do not match their expectations; also give a personal example of this thinking pattern. Response: Concepts may help guide and speed are thinking but they don't always make us wise. If a person perceives an illness and symptoms don't match the prototype of the disease it makes it harder for them to grasp the fact they have a particular illness. About a year ago I thought I was having a heart attack because I felt the pain in my left arm and shortness of breath or sharp pain in my chest. After going to the emergency room I found out I just had a bad case of gas. I think this is an example of my expectations of the illness being totally wrong. The way I thought about the hierarchy of a heart attack being at the top, made me think and actually believe I was having a heart attack. 2. Here is a brain exercise: What is the next number in this series: 3, 5, 8, 13, 21, _____ For each of the 3 problem-solving thinking methods, explain how a person could use the method to solve this exercise: A. Algorithm: Response: An algorithm is step-by-step process or procedure that guarantees a solution. For this exercise I think that counting the difference between numbers as...
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...European Financial Management, Vol. 14, No. 1, 2007, 12–29 doi: 10.1111/j.1468-036X.2007.00415.x Behavioural Finance: A Review and Synthesis Avanidhar Subrahmanyam Anderson Graduate School of Management, University of California at Los Angeles, USA E-mail: subra@anderson.ucla.edu Abstract I provide a synthesis of the Behavioural finance literature over the past two decades. I review the literature in three parts, namely, (i) empirical and theoretical analyses of patterns in the cross-section of average stock returns, (ii) studies on trading activity, and (iii) research in corporate finance. Behavioural finance is an exciting new field because it presents a number of normative implications for both individual investors and CEOs. The papers reviewed here allow us to learn more about these specific implications. Keywords: behavioural finance, market efficiency, cross-section of stock returns JEL classifications: G00, G10, G11, G14, G31, G32, G34 1. Introduction The field of finance, until recently, had the following central paradigms: (i) portfolio allocation based on expected return and risk (ii) risk-based asset pricing models such as the CAPM and other similar frameworks, (iii) the pricing of contingent claims, and (iv) the Miller-Modigliani theorem and its augmentation by the theory of agency. These economic ideas were all derived from investor rationality. While these approaches revolutionised the study of finance and brought rigour into the field, many lacunae...
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...Journal of Financial Economics 102 (2011) 1–27 Contents lists available at ScienceDirect Journal of Financial Economics journal homepage: www.elsevier.com/locate/jfec Behavioral biases of mutual fund investors$ Warren Bailey a,n, Alok Kumar b, David Ng c,d a Cornell University, Johnson Graduate School of Management, USA University of Miami, School of Business Administration, USA c Cornell University, USA d University of Pennsylvania, Wharton School, USA b a r t i c l e i n f o Article history: Received 19 October 2009 Received in revised form 6 July 2010 Accepted 9 July 2010 Available online 27 May 2011 JEL classification: G11 D03 D14 Keywords: Individual investors Mutual funds Trend chasing Behavioral biases Factor analysis abstract We examine the effect of behavioral biases on the mutual fund choices of a large sample of US discount brokerage investors using new measures of attention to news, tax awareness, and fund-level familiarity bias, in addition to behavioral and demographic characteristics of earlier studies. Behaviorally biased investors typically make poor decisions about fund style and expenses, trading frequency, and timing, resulting in poor performance. Furthermore, trend chasing appears related to behavioral biases, rather than to rationally inferring managerial skill from past performance. Factor analysis suggests that biased investors often conform to stereotypes that can be characterized as Gambler, Smart, Overconfident, Narrow Framer,...
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...29.09.2012 ‘Tragedy is an imitation of an action’ is what Aristotle said about the theater genre, tragedy. I have been curious about the ‘imitation of an action’ part and asked myself question such as what could the’ imitation of an action’ as a phrase in this context of tragedy mean so, under the light of the emphasis our instructor put on the chapter ‘the definiton of tragedy’ in ‘Aristotle’s Poetics’ reading that we were assigned to read and since I wanted my question to be cleared and I also wanted to understand the foundation of tragedy and prepare myself, base knowledge wise, for readings that were to come, I started my reading with that particular chapter. Through the chapter I partially understood, through my own reading without anyone’s help, the combination of artistic beauty of changing the places of the words, harmonious rhythms of songs that provide an emballishment to the ongoing play on the stage and the crucial components such as ‘the soul of tragedy’ and another component as important as the plot that I am not too confident about whether I absorbed its meaning and relation with other parts of a tragedy, that element is thought. I think through the chapter I found an answer to my question of what is imitation of an action, let me expand my question for beter understanding and my own answer through the information I gained through my reading . I think my question of what imitation of an action is pretty straightforward to understand, in literal base I know...
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...The irrational side of change management 101 Organization Practice The irrational side of change management Most change programs fail, but the odds of success can be greatly improved by taking into account these counterintuitive insights about how employees interpret their environment and choose to act. Carolyn Aiken and Scott Keller In 1996, John Kotter published Leading Change. Considered by many to be the seminal work in the field of change management, Kotter’s research revealed that only 30 percent of change programs succeed. Since the book’s release, literally thousands of books and journal articles have been published on the topic, and courses dedicated to managing change are now part of many major MBA programs. Yet in 2008, a McKinsey survey of 3,199 executives around the world found, as Kotter did, that only one transformation in three succeeds. Other studies over the past ten years reveal remarkably similar results. It seems that, despite prolific output, the field of change management hasn’t led to more successful change programs. It also hasn’t helped that most academics and practitioners now agree on the building blocks for influencing employee attitudes and management behavior. McKinsey’s Emily Lawson and Colin Price provided a holistic perspective in “The psychology of change management,”1 which suggests that four basic conditions are necessary before employees will change their behavior: a) a compelling story, because employees must see the point...
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...THE JOURNAL OF FINANCE • VOL. LVI, NO. 4 • AUGUST 2001 Investor Psychology and Asset Pricing DAVID HIRSHLEIFER* ABSTRACT The basic paradigm of asset pricing is in vibrant f lux. The purely rational approach is being subsumed by a broader approach based upon the psychology of investors. In this approach, security expected returns are determined by both risk and misvaluation. This survey sketches a framework for understanding decision biases, evaluates the a priori arguments and the capital market evidence bearing on the importance of investor psychology for security prices, and reviews recent models. The best plan is . . . to profit by the folly of others. — Pliny the Elder, from John Bartlett, comp. Familiar Quotations, 9th ed. 1901. IN THE MUDDLED DAYS BEFORE THE RISE of modern finance, some otherwisereputable economists, such as Adam Smith, Irving Fisher, John Maynard Keynes, and Harry Markowitz, thought that individual psychology affects prices.1 What if the creators of asset-pricing theory had followed this thread? Picture a school of sociologists at the University of Chicago proposing the Deficient Markets Hypothesis: that prices inaccurately ref lect all available information. A brilliant Stanford psychologist, call him Bill Blunte, invents the Deranged Anticipation and Perception Model ~or DAPM!, in which proxies for market misvaluation are used to predict security returns. Imagine the euphoria when researchers discovered that these mispricing proxies...
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...Educational Psychology: Developing Learners This is a protected document. Please enter your ANGEL username and password. Username: Password: Login Need assistance logging in? Click here! If you experience any technical difficulty or have any technical questions, please contact technical support during the following hours: M-F, 6am-12am MST or Sat-Sun, 7am-12am MST by phone at (800) 800-9776 ext. 7200 or submit a ticket online by visiting http://help.gcu.edu. Doc ID: 1009-0001-191D-0000191E DEVELOPING LEARNERS JEANNE ELLIS ORMROD Professor Emerita, University of Northern Colorado EIGHTH EDITION ISBN 1-256-96292-9 Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City São Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo Educational Psychology: Developing Learners, Eighth Edition, by Jeanne Ellis Ormrod. Published by Pearson. Copyright © 2014 by Pearson Education, Inc. Vice President and Editorial Director: Jeffery W. Johnston Vice President and Publisher: Kevin Davis Editorial Assistant: Lauren Carlson Development Editor: Christina Robb Vice President, Director of Marketing: Margaret Waples Marketing Manager: Joanna Sabella Senior Managing Editor: Pamela D. Bennett Project Manager: Kerry Rubadue Senior Operations Supervisor: Matthew Ottenweller Senior Art Director: Diane Lorenzo Text Designer: Candace Rowley Cover Designer:...
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...Festival for discussions and comments helpful to the evolution of the paper. Pattarake Sarajoti provided valuable assistance. Mann acknowledges the support of the Charles Tandy American Enterprise Center. A good portion of this work was completed while Locke was on the staff of the U.S. Commodity Futures Trading Commission. However, the views expressed are the authors’ only and do not purport to represent the views of the Commodity Futures Trading Commission or its staff. Do Professional Traders Exhibit Loss Realization Aversion? Abstract Recent evidence (e.g. Odean, 1998a) describes investor behavior that is at odds with traditional economic theory. These alternative behaviors, such as those consistent with the disposition effect or overconfidence, form the basis for recent "behavioral" explanations for asset returns (e.g. Daniel, Hirshleifer and Subrahmanyam 1998a and 1998b, Odean 1998b, and Shumway, 1998). Notably, the evidence of alternative investor behavior is based largely on...
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...Decide & Conquer: Make Winning Decisions and Take Control of Your Life Stephen P. Robbins, Ph.D. PEARSON EDUCATION, INC. Praise for Decide & Conquer: “Do you have trouble making important decisions? If you answered, ‘Well, yes and no,’ you need this book. It's as smart and straightforward as its title. I'm buying my agent five copies. —Joel Siegel Entertainment Editor Good Morning America “I thought making decisions was as natural as breathing— something we just do. Dr. Robbins makes it crystal clear that decision making ability is a skill that can be improved with knowledge from self evaluation and consideration of the right criteria. This book will help not only people who struggle with decisions, but also those who consider themselves effective decision makers.” —Jim Despain, Managing Partner, DESPAINCONVERSE, and co-author of …and Dignity for All “Robbins shows that making good decisions requires more than just knowing the facts. You must know yourself, too! It is the human aspects of the decision-making process that fail. But these problems can be overcome. Start making good decisions now by choosing to read this book.” —John Nofsinger, author of Infectious Greed and Investment Blunders (of the Rich and Famous) “A must read. Robbins translates a vast array of arcane research into a clearly written practical guide that will surely help people make better personal decisions.” —Steven P. Schnaars, author of Marketing Strategy, Second Edition “This is a very personal...
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