...Dan Ariely’s evaluation of human behavior in Predictably Irrationality is essentially eccentric especially to the science reader who is trained in a world of testable explanations, logical reproducible results and predictions. We prefer to believe we are logical beings, responsible for our actions and deserve to rip the credit for every success. Then enters behavioral economics. Humans are rational beings, but not predictably. Ariely begins by affirming that humans think in relative measures. It is much easier to compare and contrast alternatives, which are familiar to us. The first chapter on relativity aptly shows limitations in judgment when faced with similar alternatives and the effect of a decoy. It seems his experiments suggest it is easier and more compelling for humans to compare 2 things, to keep a narrow focus and deliberately block out cofounding factors or scenarios. From his conclusions I learnt it is crucial to keep decision options simple, identify decoys and be able to introduce or break the cycle of relativity depending on your objective. The concept of supply and demand is fundamental in economics and remains the backbone of a market economy. However goods of ostentation as shown by the example of the pearl used by Dan Ariely defy this concept. He however goes further to show that “anchors” could be used to attribute any price to about anything. I contend that in developing economies, where a larger part of the market is still trapped at the bottom of...
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...1. Source: book, Predictably Irrational, by Dan Ariely: pp. 4. Passage: “One thing Rapp has learned is that high-priced entrees on the menu boost revenue for the restaurant－even if no one buys them. Why? Because even though people generally won’t buy the most expensive dish on the menu, they will order the second most expensive dish. Thus, by creating an expensive dish, a restaurateur can lure customers into ordering the second most expensive choice (which can be cleverly engineered to deliver a higher profit margin).” What works: First describe a seemingly self-contradictory phenomenon to arouse interest. Then, by asking “Why?” for the reader, the author naturally gives out the reason that resolves the puzzle. Using it: I can use rhetoric questions to let readers think for themselves first, and then offer my own reason. 2. Source: book, Predictably Irrational, by Dan Ariely: pp. 17. Passage: “The result? Now the average CEO makes about 369 times as much as the average worker－about three times the salary before executive compensation went public.” What works: Using a precise number “369 times” to make a dramatic effect on the polarity of income. The number is really eye-catching, and straightly conveys a sense of sarcasm. Using it: If I want to show the scale of something, I can use exact numbers to impress the reader. 3. Source: A little faster, George? From The Economist, March 9th 2013: pp. 11. Passage: “Over the past 170 years this newspaper has tracked...
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...fundamentally rational ways. Blending everyday experience with ground breaking research, Ariely explains how expectations, emotions, social norms, and other invisible, seemingly illogical forces skew our reasoning abilities. N o t only do we make astonishingly simple mistakes every day, but we make the same types of mistakes, Ariely discovers. We consistently overpay, underestimate, and procrastinate. We fail to understand the profound effects of our emotions on what we want, and we overvalue what we already own. Yet these misguided behaviors are neither random nor senseless. They're systematic and predict able—making us predictably irrational. From drinking coffee to losing weight, from buying a car to choosing a romantic partner, Ariely explains how to break through these systematic patterns o f thought to make better decisions. Predictably Irrational will change the way we interact with the world—one small decision at a time. 0208 DAN ARIELY is the Alfred P. Sloan Professor o f Behavioral E c o n o m i...
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...Dan Ariely’s nonfiction book Predictably Irrational provides an exciting perspective on the field of behavioural economics. Ariely presents his own theories and research on various aspects of human behaviour. He explains the fundamental differences between traditional economics and behavioural economics in a way that is easy to understand. Traditional economics assumes that people are rational, whereas behavioural economics stresses that they are irrational. Ariely’s primary focus in the work is this debate between rationality and irrationality. The entire book is written in the first person using an informal tone. The casual tone can be justified as the book is aimed at the general public, as opposed to other researchers and academics. However, given the scientific nature of the information he is presenting, the informal tone also causes his findings to lack assertiveness. Keeping in theme with the informal tone, Ariely uses many anecdotes to convey his findings in a way that is relevant to, and can be understood by, the reader. The anecdotes help the reader grasp the concepts with greater ease, but the addition of personal stories further detracts from the assertiveness of his research. At the risk of losing some readers, it would have been preferred for Ariely to use a more formal approach to match the serious content of his work. Clearly, Ariely aimed to reach a broader range of readers who would not normally study behavioural economics. The book is geared mainly at an...
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...Léo Greiner & Mark Michaels Morty Yalovsky BUSA 100 11/04/15 Book Report 2 The novel Predictably Irrational, by author Dan Ariely, claims and supports the notion that consumers make economic decisions through emotions and instinct in preference to logical deduction. The book features fourteen chapters, each one exploring a manner in which humans act irrationally in the economic world. For example, chapter 3 delves into the “zero price effect”. Ariely argues that for transactions where both products in question have monetary cost, humans will proceed logically to determine which product outweighs the other. On the other hand, if the product were to become free, the human brain no longer evaluates the pros and cons, but instead immediately...
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...Homework 1 Readings: Predictably Irrational, Ariely: Introduction, Chapters 1-3 Paradox of Choice, Schwartz: Ch 3, p.56-62 (availability, anchoring), p. 48-51 (peak-end) 1. Many examples of irrational judgments presented in class and the readings involve subjective judgments, such as how much you would be willing to pay for something. A possible objection is that subjective judgments cannot be considered “irrational” because they just reflect individual preferences. Does it make sense to characterize a subjective judgment as “irrational”? Why or why not? Justify your answer, and explain how irrationality could or could not be assessed for a subjective judgment. Rational judgments are usually made using cost-benefit, efficient analysis....
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...Program 1: Write a program to copy the contents of one array into another in the reverse order. Code: #include<stdio.h> int main() { int arry1[10],arry2[10]={0},i,j; printf("Enter the elements of array: \n"); for(i=0;i<10;i++) { printf("Enter element %d:",i+1); scanf("%d",&arry1[i]); } i=0; for(j=9;j>=0;j--) { arry2[j]=arry1[i]; i+=1; } printf("Array elements in reverse order are: \n"); for(i=0;i<10;i++) { printf("element %d:%d \n",i+1,arry2[i]); } return(0); } Output: Program 2: If an array arr contains n elements, then write a program to check if arr[0] = arr[n-1], arr[1] = arr[n-2] and so on. Code: #include<stdio.h> int main() { int arry1[10],i,j,k=0; printf("Enter the 10 elements of array: \n"); for(i=0;i<10;i++) { printf("Enter element %d:",i+1); scanf("%d",&arry1[i]); } j=9; for(i=0;i<5;i++) { if(arry1[i]==arry1[j]) { printf("Elemets %d and %d are same \n", i+1,j+1); k=1; } j--; } if(k==0) { printf("No match found\n"); } return(0); } Output: Program 3: Find the smallest number in an array using pointers. Code: #include<stdio.h> int main() { int arry1[10],i,*j,k=10000; printf("Enter the 10 elements of array: \n"); for(i=0;i<10;i++) { printf("Enter element %d:",i+1); scanf("%d",&arry1[i]); } j=&arry1[0]; for(i=0;i<9;i++) ...
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...DQ 1 Take any number (except for 1). Square that number and then subtract one. Divide by one less than your original number. Now subtract your original number. Did you reach 1 for an answer? You should have. How does this number game work? Hint. Redo the number game using a variable instead of an actual number and rewrite the problem as one rational expression. How did the number game use the skill of simplifying rational expressions? Create your own number game using the rules of algebra and post it for your classmates to solve. Think about values that may not work. State whether your number game uses the skill of simplifying rational expressions. Consider responding to your classmates by solving their number games or expanding on their games to create an even more challenging one. You may want to review responses to your number game in case you need to make changes or help another student. ANSWERS: My Answer: Here in this number game we are using the concept of a^2 - b^2 = (a-b)(a+b). First take number as a. Then square of that = a^2 , Here b is 1. So, subtract 1: a^2 -1 One less than original number : a-1. Now we need to divide a^2 - 1 by (a-1). So, (a^2 -1)/(a-1) = (a^2 -1^2)/(a-1) = (a-1)(a+1)/(a-1) = (a+1) Now, subtract the original number a: a+1 - a= 1 is the answer. So, in every case we will get 1 as the answer and a cannot be 1 because we are dividing by a-1 then it will be 1-1 =0 which is not possible, because we cannot divide by 0...
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...Professor Damion Mitchell wants you to develop a C++ program that enables a user to enter the name of two species, as well as the number of breed x and y that are involved in a cross breed experiment. By utilising exception handling techniques display “hybrid experiment is viable,” that is if both species are the same and breed x is greater than or equal to breed y; otherwise display “hybrid experiment is invalid and irrational.” Question 2 Create a C++ program that accepts a family‘s information and consequently displays a four generation family tree of the specific family. Therefore your program should accept the name, family position (i.e. great-grandfather, grandfather, father or son) and age of each family member. With the utilisation of exception handling and other concepts you have learnt ensure that the age of a descendant is never greater than the ancestor. Question 3 Write a C++ program that finds the square root of a number, as well as quotient of the number and by utilising exception handling avoid arithmetic fatal errors. For this program ensure the user does not divide by zero or tries to find the square root of a negative number. (Please note that the user will be required to enter the number, as well as the denominator for the number) Question 4 Develop a C++ console application that populates a ten element array with the multiples of five that are less than fifty-five (55). Consequently display all the even numbers that are in the array by utilising...
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...Axia College Material Appendix F Ticket Sales Living in or near a metropolitan area has some advantages. Entertainment opportunities are almost endless in a major city. Events occur almost every night, from sporting events to the symphony. Tickets to these events are not available long and can often be modeled by quadratic equations. Application Practice Answer the following questions. Use Equation Editor to write mathematical expressions and equations. First, save this file to your hard drive by selecting Save As from the File menu. Click the white space below each question to maintain proper formatting. 1. Suppose you are an event coordinator for a large performance theater. One of the hottest new Broadway musicals has started to tour and your city is the first stop on the tour. You need to supply information about projected ticket sales to the box office manager. The box office manager uses this information to anticipate staffing needs until the tickets sell out. You provide the manager with a quadratic equation that models the expected number of ticket sales for each day x. ( x = 1 is the day tickets go on sale). -0.2x2 +12x +11 Tickets = a. Does the graph of this equation open up or down? How did you determine this? The graph opens downward. This is determined by the negative coefficient of the x2 term. b. Describe what happens to the tickets sales as time passes. On the opening day, -.2(1)2+12(1)+11 = 22.8 ≈ 23 tickets will be sold. Ticket sales will ...
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...CLARET SCHOOL OF ZAMBOANGA CITY Ruste Drive, San Jose Road, Zamboanga City High School Mathematics Department Teacher’s Learning Plan in MATHEMATICS IV Name: Yr. & Sec.: Activity Title: Reference: Value: Activity No.: 15 Quarter: First Date: Quadratic Formula Reference # 2, pp. 184 – 186 EP2: All forms of life are important (Empowerment) Learning Targets: A. Find the roots of a quadratic equation using the quadratic formula. B. Show positive attitude in dealing personal problems. I. Concept Notes Quadratic Formula For any quadratic equation of the form are ax 2 + bx + c = 0 , where a ≠ 0 the solutions x= − b ± b 2 − 4ac 2a The quadratic formula gives us another technique to solve a quadratic equation. This method will work regardless of whether the equation is factorable or not factorable. Example: Directions: The column on the left shows the steps used to solve a problem using the quadratic formula. Use the column on the left to answer each question in the column on the right. PROBLEM: Solve by using the quadratic formula. What process will you use to solve the problem? 4x 2 + x = 2 Write in standard form. What is the standard form of the quadratic equation? 4x + x − 2 = 0 2 Find the values of a, b, and c. a = 4, b = 1, c = −2 Explain how you know which value is a? Substitute the values into the quadratic formula. Write the quadratic formula. x= Simplify. − (1) ± (1) 2 − 4(4)(−2) 2(4) Explain what the symbol ± means. ...
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...Score: ______ / ______ Name: _Kennedy Maddox Student Number: ______________________ | | |1.Elsie is making a quilt using quilt blocks like the one in the diagram. | | | |[pic] | | | |a. How many lines of symmetry are there?Type your answer below. | | | |4 lines of symmetry | | | | ...
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...School of Information Technology 1. (25 points) The media access control (MAC) address of a network interface is a unique address. Each network interface relating to its MAC fits the criteria of a function because each device has its own, unique MAC address. Describe an everyday situation in your field that is a function. Be sure to explain exactly why the situation is a function. Using a mac address is a direct link from one connection to another, for example going from a PC to a switch, this is an example of a function because one port on the switch only goes directly to one pc each match up. 2. (20 points) Describe a chart or graph you might find related to a computer that fits the criteria for the graph of a function. Make sure to explain in detail why the graph fits the criteria. The graph of g is the graph of f shifted vertically up by 4 units, the functions meet the criterial of graph in the sense that if a vertical line is drawn it will only cut the graph once. 4. (15 points) For any given graph of a function, explain how to find its domain. If a function f does not model data or verbal conditions, its domain is the largest set of real numbers for which the value of is a real number. Exclude from a function’s domain real numbers that cause division by zero and real numbers that result in a square root of a negative number. For example = x2 – 7x contain no division nor square root. Expression x2-7x represents a real number...
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...Solving Radical Equations Solving Radical Equations Topic Index | Algebra2/Trig Index | Regents Exam Prep Center (This lesson will work primarily with radicals that are square roots.) A "radical" equation is an equation in which the variable is hiding inside a radical symbol (in the radicand). is a radical equation is NOT a radical equation To solve radical equations: 1. Isolate the radical (or one of the radicals) to one side of the equal sign. 2. If the radical is a square root, square each side of the equation. (If the radical is not a square root, raise each side to a power equal to the index of the root.) 3. Solve the resulting...
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...can fit as a solution without the denominator Equaling to ‘0’ which is known as the domain any values that would cause x to equal ‘0’ are Excluded values. If the value x were to be equal to ‘0’ it is no longer considered a ration expression and becomes irrational. For this first expression x cannot = 0 in set notation that would be D= {x| xϵR, x≠0} My second expression is 7w-2 16w2 -1 For this expression I would need to make the denominator equal to ‘0’ to find any excluded values for w (4w+1)(4w-1)=0 Factors are set to equal 0 4w+1=0 and 4w-1= 0 add or subtract 1 from both sides 4w=-1 and 4w=1 divide each side by 4 W= -¼ or ¼ these are my excluded values My solution set would be D={w| w є R, w≠ ± ¼ } Both of my expressions have excluded values in the first one x cannot be equal to 0 because this would result in a denominator of ‘0’ which means I would no longer have a rational expression. In the second Expression w cannot equal ± ¼ because this again would make the denominator0 making it into an irrational number and therefore undefined. My first expression only has one excluded value and my second expression contains To values that are...
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