...Giant Pool of Money In this radio story about the events leading up to the subprime mortgage crisis, it’s clearly demonstrated that a few psychological biases and heuristics were present and played important roles in forming the crisis. The most critical ones I’ve identified are the confirmation bias and the social proof phenomenon in the development of the crisis. Confirmation Bias Mainly two types of confirmation bias were observed in the subprime crisis: the confirmation trap as well as anchoring heuristics. Anchoring caused the banks to miscalculate real risks of the mortgages and related MBS/CDO, while the confirmation trap caused most people in the industry to ignore potential risks and keep playing the dangerous game. Bazerman and Moore defined the anchoring heuristic as “Individuals make estimates for values based on an initial value (derived from past events…), and typically make insufficient adjustments from that anchor when establishing a final value.” And the Wall Street banks made exactly this mistake leading up to the mortgage crisis. When estimating the default rate for subprime mortgage products, Wall Street banks used historical data which indicated an average default rate of 2%, then extrapolated to estimate the absolute worst-case scenario to be at worst 10% to 12%. However, such anchoring is misleading because most of the data were years old were based on loans with strict income, asset and credit requirements. On the contrary, the subprime loans on which...
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...Sociological Research: Designs, Methods Sociologists use many different designs and methods to study society and social behavior. Most sociological research involves ethnography, or “field work” designed to depict the characteristics of a population as fully as possible. Three popular social research designs (models) are * Cross-sectional, in which scientists study a number of individuals of different ages who have the same trait or characteristic of interest at a single time * Longitudinal, in which scientists study the same individuals or society repeatedly over a specified period of time * Cross-sequential, in which scientists test individuals in a cross-sectional sample more than once over a specified period of time Six of the most popular sociological research methods (procedures) are the case study, survey, observational, correlational, experimental, and cross-culturalmethods, as well as working with information already available. Case study research In case study research, an investigator studies an individual or small group of individuals with an unusual condition or situation. Case studies are typically clinical in scope. The investigator (often a clinical sociologist) sometimes uses self-report measures to acquire quantifiable data on the subject. A comprehensive case study, including a long-term follow-up, can last months or years. On the positive side, case studies obtain useful information about individuals and small groups. On the negative side...
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...gender theory, I think historians, have struggled with the relationship between social structures (class, symbolic systems, language, gender, etc.) and individuals. The struggles stem from our understanding of the world, society, and life experiences. Throughout history, what we know is primarily based on theories and knowledge created historically and predominately by men of certain nationalities and economic status. History, like society, has been male-dominated and culturally distinct theorizing and knowledge has excluded women and other groups from traditional theorizing and knowledge building methods. When used in research, methods, and action, such theories and understanding ignored...
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...orientation, pleasure, intimacy, and instigates procreation. Though, sexuality is experienced and expressed through thoughts, desires, beliefs, attitudes, values, roles, behaviours, and relationships; it is greatly influenced by societies, cultures, historical perspectives, religious perspectives, biological forces, psychological theories, ethics, morals, and legal factors. In the United States, known as the “melting pot” because of the mass amounts of cultural influences brought in by immigrants worldwide that now reside on its land; one of the biggest concerns in regards to sexuality are the social and public health challenges that influence sexual behaviours, attitudes, and beliefs. Sexual behavior in not just a personal matter between two people, but rather a theme that can affect society in terms of social expectations for sexual behaviors, gender identity, roles, stereotypes, and bias. Social Expectations on Sexual Behaviors “Sexuality is an important part of our lives” (King, 2012, p.1), currently and amongst the generations before us. Throughout history, sexual behaviours have been largely influenced by culture, religion, and historical perspectives which in turn created social expectations or social norms. Social expectations vary from culture to culture as well as within subcultures. “These cultural practices, values, norms, and traditions have strong influences on the visible aspects of individual behaviors and are important determinants of men’s and women’s...
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...the economy back to normal levels. Thus, it is important to be aware of the economic conditions when looking at the historical evolution of deficits and surpluses. This higher emphasis on federal budget deficits contrasts significantly with state and local governments who are usually mandated to produce a balanced annual budget. In 2003, all the states except for Vermont had a legal requirement to balance their budget [12]. But then what makes the federal government any different from state or local government? Is it not viewed as irresponsible to spend more than you...
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...Change is Gonna Come” by Sam Cooke • The Means to an End, by Kara Walker Intro cont.. Caged Bird ► Author Maya Angelou ► Discipline of literature ► Form of poetry Intro cont. “A Change is Gonna Come” ► Singer/Songwriter Sam Cooke ► Discipline of music Intro cont. The Means to an End ► Artist Kara Walker ► Discipline Visual Art ► Silhouette Portraits Humanities in Healthcare Understanding Diversity in Cultures Roles of Nurses ► Non-bias or opposing self-interest on patients. ► Understanding and acceptance of any and all cultures/ethnicities. ► Equal treatment of all patients ► Not conforming to stereotypes Humanities in Healthcare cont. ► Broadening your exposure to different cultures and through the arts and artifacts presented, you become more aware and better prepared to give quality healthcare amongst the diverse communities. ► The 3 works being presented will display the perseverance, struggles, and some history of the Black American ethnic group. The Literary Work Objective Analysis ► Caged Bird by Maya Angelou A free bird leaps on the back of the wind and floats downstream till the current ends and dips his wing in the orange sun rays and dares to claim the sky But a bird that stalks down his narrow cage can seldom see through his bars of rage his wings are clipped his feet are tied so he opens his throat to sing. The caged bird sings with a fearful trill of things unknown ...
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...for gaining an understanding of society today than those used by positivists and interpretivists. To what extent do sociological arguments support this view of social research (33 Marks?) Positivism is a philosophy of science and a theory of methodology which suggests that social behaviour should be researched according to the principles of natural science, whereas interpretivism is an alternative to the positivist scientific tradition, interpretivists argue society cannot be studied in the same way as objects in natural interactions. However alternative theories of methodologies e.g.: Realism, Feminism, social constructionism and methodological cosmopolitanism are said to be better useful ways for gaining an understanding of society today then positivists and interpretivists. Positivism is a philosophy of science and a theory of methodology which suggests that social behaviour should be researched according to the principles of natural science. For example Comte a positivists who first used the word ‘sociology’, argued that sociology should be based on the methodology of the natural sciences. As this would result in positive science society and would reveal invariable laws and could use the research to control and improve society. Positivists assumptions on the subject matter is that people are the subjects of social forces beyond their control, for example Durkheim (1874) tried to establish sociology as a distinct discipline with his famous study Le Suicide (using a positivists...
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...when outcomes are highly self-relevant (Study 1) or the need to search is high (Study 2). Furthermore women suffer from evidence of prejudice, but only when they are personally affected by this prejudice and evidence suggests it is pervasive. References -When Searching Hurts: The Role of Information Search in Reactions to Gender Discrimination Katherine Stroebe, Manuela Barreto and Naomi Ellemers SEX ROLES, Volume 62, Numbers 1-2 (2010), 60-76, DOI: 10.1007/s11199-009-9700-y Published online: 24 September 2009 # Springer Science + Business Media, LLC 2009 Stable url : http://link.springer.com/article/10.1007/s11199-009-9700-y?null 2. Explanation and Intergroup Emotion: Social Explanations as a Foundation of Prejudice-Related Compunction Abstract Two studies examined whether social explanations—causal frameworks used to make sense of a group’s status and behavior—are associated with prejudice-related...
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...He edited Studio Photography magazine and wrote a photography column for the New York Times. This led to an eight-year job as a journalism professor at Hofstra University. C. Fred Rosen is the winner of Library Journal’s Best Reference Source 2005 award for The Historical Atlas of American Crime. His published works in the genre include the true crime classic, Lobster Boy. In that case it was Mr. Rosen’s detective work that led to the conviction of the killer. This proves Rosen’s competence to write a book about historical murders as his evidence helped solve the case. Rosen has a lot of experience writing about true crime having published over twelve books on the subject of true crime. 2. A. Fred Rosen has published thirteen or fourteen books related to criminal justice some include: There But For the Grace: Survivors of the 20th Century’s Infamous Serial Killers, Body Dump, When Satan Wore a Cross, Lobster Boy, and Needle Work. There But For the Grace: Survivors of the 20th Century’s Infamous Serial Killers, covers the details of those who lived through some of the most gruesome crimes in history and is similar in subject matter to the volume. This is related to Did They Really Do It? because it analysis some of...
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...Evaluating Credibility and Validity of Sources: We learned that it is important to evaluate the credibility of the source and make a judgement on its relevance to our topic/argument. Credibility can be validated based off on the background of the author, impartiality, style and tone of article and currency. For instance for an argument on animal rights as described in…, the argument can be presented in different ways depending on the specialization of the author. A phychologist, philosopher or economist might present the argument in different style. Also, the author’s personal interest to the subject might affect the an author’s opinion or treatment to the subject. For instance, an author who is vegetarian is likely to argue against using animals for food and may present argument in a way that’s less than impartial. The publication Alongwith the author’s background, it is also important to validate the author’s personal interest associated to the subject ; We also learned that a special interest or preference might affect an author’s opinion or treatment to subject. In the simplest terms, a declared vegetarian is likely to argue against using animals for food and may present those arguments in a way that’s less than impartial. The writing style and tone is another way to form credibility and validity of sources of information. You should determine whether the tone is professional or not. If it is indeed professional and the tone is for the targeted audience...
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...It is the study of the history and methodology of the discipline of history. The term historiography also denotes a body of historical work on a specialized topic. Scholars discuss historiography topically – such as the “historiography of Catholicism,” the “historiography of early Islam,” or the “historiography of China" – as well as specific approaches such as political history and social history. Beginning in the nineteenth century, at the ascent of academic history, a corpus of historiography literature developed. Furay and Salevouris (1988) define historiography as "the study of the way history has been and is written — the history of historical writing... When you study 'historiography' you do not study the events of the past directly, but the changing interpretations of those events in the works of individual historians." Questions studied Some of the common questions of historiography are: 1. Reliability of the sources used, in terms of authorship, credibility of the author, and the authenticity or corruption of the text. (See also source criticism). 2. Historiographical tradition or framework. Every historian uses one (or more) historiographical traditions, for example Marxist, Annales School, "total history", or political history. The historiography of early Islam refers to the study of the early origins of Islam based on a critical analysis, evaluation, and examination of authentic primary source materials and the organization of these sources into a narrative timeline...
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... it had on said readership in influencing whatever social or cultural reform that took place after his work’s had been published. This paper’s methodology outlines the set of procedures or method’s used to conduct the research; including the theoretical framework, data collection and data analysis method’s which were used. Methods Used The primary methods of research utilised in gathering data were predominantly qualitative. Gathering and analysing research and academic texts on Moore’s work both online and offline, and then compiling and contrasting the varied scholarly opinions on this paper’s...
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...riots are not only historically relevant but the relevant to the racial tensions and more towards a psychological path. According the author, we have only looked at this event in the eyes of its historical significance and what the riots meant in that time period. However, there has never truly been a psychological analysis to the thoughts of these young men at the time and their thoughts...
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...during my Visual Art course and exploring social exclusion in Society and Culture, it compelled me to want to learn more about the representation of women within the art world. As a socially aware individual with an interest in art, I felt the need to explore these inequalities to see if they still exist and how this may impact on other young artists. The research methods that I chose were interview, statistical analysis and content analysis, which would provide me qualitative results, as well as quantitative by being able to collect data and statistics. Originally, I planned on conducting a focus group discussion, however as my project progressed, I decided on content analysis as it allowed me to observe a variety of sources and immerse myself in the art world. By choosing an interview I was able to gain insightful knowledge from four females who were either art curators or historians and one male who is an art historian. This gave me qualitative results as I was able to receive in-depth answers from numerous people and allowed and exploration of my cross-cultural by interviewing both genders and gaining their perspectives on this. However, there were some limitations such as by completing my interviews through e-mail, I was not able to ask any follow up questions for answers to be further elaborated. Additionally I only had one interview with a male and four with females, which may cause more perspectives from females and thus, a gender bias. By conducting interviews it supported...
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...PRODUCTION AND OPERATIONS MANAGEMENT BUS3020 COURSE CONTENT WEEK THREE TOPIC: FORECASTING • Different Methods of Forecasting – Formal and Informal, • Qualitative and Quantitative Methods • Causal methods auto projection methods of forecasting. What is forecasting? Forecasting is the art and science of predicting future events. As a science it uses historical data and projects them into the future using mathematical models. As an art it uses intuition or judgment to predict the future. Why forecast? Done to minimize uncertainty and evaluate risk relating to future events caused by dynamism of the environment within which organizations operate. Such dynamisms includes: a) Changes in legislation b) Stiff competition c) Demographic changes. Forecasting is important for planning and control of functional areas such as; marketing, finance, operations e.t.c.In the public sector, forecasts are used to plan on: Health, Education, Social services e.t.c. Types of forecasts • Demand forecasts – projections of demand for a company’s products or services. • Economic forecasts – predicts inflation rates, money supplies e.t.c • Technological forecasts.- concerned with the rate of technological progress. Forecasting Horizons a) Short – range forecasts: Covers from a few days to 6 months. It concerns issues like purchase forecasts, job scheduling, workforce levels, job assignments, production levels e.t.c. b) Medium range forecasts: Covers usually from 3 months...
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