Professional Workplace dilemma

Chapter by chapter guide Introduction Description of my experience on moral predicament Analyzing the moral quandary Evaluating the result Conclusion References Introduction One may experience a few expert issues at working environments. Along these lines, it is fundamental for people to deal with such difficulties with alert since they can altogether progress or stain one’s profession. As a rule, moral situations happen because of irreconcilable situation among representatives (APPA, 2010). Such examples happen when one is in an issue of whether to report their partner who is doing dishonest acts (APPA, 2010). This frequently demonstrates testing particularly when the gatherings included have a nearby relationship.Advertising We will compose a custom exposition test on Professional Workplace situation explicitly for you for just $16.05 $11/page Learn More Description of my experience on moral predicament As a representative in an organization that produces compartments, I exp erienced a specific moral quandary that represented a danger to employees’ wellbeing. The issue started by an agreement that the organization won, and it involved creation of 300 compartments inside a one-year time span. Nonetheless, as standard the company’s limit, just 200 compartments could be created inside the authoritative time. As indicated by the organization, creating the holders was not the issue, however rather it was the paint that took a more drawn out time before drying. After cautious interviews, the best choice was to utilize an alternate paint that could dry snappier. Tragically, the paint to be utilized had some harmful substance that could demonstrate unsafe to representatives. In this way, they needed to prepare representatives on the most proficient method to direct the paint securely. This demonstrated testing since preparing workers would take roughly a half year in this way they could be past timetable. Following the test, the supervisory crew c hose to hold a mystery meeting thus choosing to utilize the paint without preparing the workers. Mr. Brian, the security and wellbeing chief, was excluded in the gathering and had no clue about what was happening. Luckily, the data spilled thusly leaving Brian mindful of the management’s unscrupulous intensions. This was where I got the data for example by means of Brian given that I had a nearby working relationship with him. As the security and wellbeing chief, Brian had two alternatives for example either go up against the administration of their exploitative intensions or stay silent and fail to address the circumstance. Thinking about the results, Brian could lose his employment in the event that he goes up against the administration while, then again, on the off chance that he chooses to do nothing employees’ wellbeing and security would incomprehensibly be imperiled. Breaking down the moral problem There existed a distinction in power by the way that the supervi sory group could settle on ultimate conclusions on the general running of the organization. Then again, Brian could just impact matters that influence the employees’ wellbeing. Thinking about this reality, Brian could wind up losing his employment in the event that he stood up to the supervisory crew. Standardizing morals that incorporate ideals hypotheses, obligation speculations and consequentialist hypotheses was required to be postponed by the supervisory group if they somehow happened to utilize the poisonous paint (Fieser, 2009).Advertising Looking for exposition on business financial matters? How about we check whether we can support you! Get your first paper with 15% OFF Learn More The administration was exposed to abuse the standardizing ethic with regards to excellence hypothesis and obligation hypothesis for example by unsafely presenting workers to harmful paints. A few individual qualities were in question both to the supervisory group and furthermore to the Bria n as the wellbeing and wellbeing trough. A portion of the qualities included trustworthiness, respect, cooperation, honesty, liberality and good faith just to make reference to a couple. From Brian’s perspective, there existed two potential results for example either chooses to fail to address the issue or utilize the current data to face the supervisory group about deceptive intensions. Discussing the results in question, if Brian chooses to never really will die while, then again, he hazards losing his employment incase he goes up against the supervisory crew. As a representative in the organization, my wellbeing would have been undermined if Brian failed to address the circumstance while, unexpectedly, on the off chance that he defies the administration, it would mean working in a danger free condition. Assessing the result Fortunately, guided his senses, Brian stood up to the supervisory crew by revealing them to the top managerial staff. Brian’s choice was valiant since he never disapproved of the outcomes that was anticipating him incase the charges were to be bogus. Following Brian’s choice, my associates and I had the option to work in a peril free condition since the poisonous paint was required to be postponed by the board. The results were for our potential benefit on the contention that our wellbeing and life were not imperiled. Despite what might be expected, the supervisory crew was exposed to the disciplinary board subsequently confronting the full outcomes of their intensions. In this manner, a large portion of the supervisory crew individuals lost their positions while others put waiting on the post trial process. During my course of study, I’ve increased much on the most proficient method to deal with various difficulties morally. In view of what I have realized in blend to my working experience, my situation on the predicament would have been the equivalent. This is on the grounds that, as indicated by regularizin g morals, an individual ought to do decisively what the person anticipate that others should accomplish for them (Fieser, 2009). Contending starting here of view, I would likewise act in a similar way that Brian did by shielding workers from deceptive intensions of the supervisory group. Besides, it was Brian’s obligation to guarantee that representatives work in a safe environment.Advertising We will compose a custom article test on Professional Workplace issue explicitly for you for just $16.05 $11/page Learn More Conclusion It is pivotal to comprehend and be taught about moral standard since everyone is helpless against moral difficulties. Better comprehension of moral guidelines helps with settling on the correct decisions that are viewed as moral in the general public. Moreover, one ought to likewise fathom the results that follow their choices. Morally, one should act compassionately by setting yourself on others’ shoes. This helps with deciding if a demonstratio n is moral. References Fieser, J. (2009). Morals. Web reference book of theory (IEP). Recovered from: https://www.iep.utm.edu/morals/American philosophical experts affiliation (APPA). (2010). Difficulty preparing. American philosophical specialists affiliation (APPA). Recovered from:â https://appa.edu/ This article on Professional Workplace situation was composed and put together by client Triston Hansen to help you with your own examinations. You are allowed to utilize it for examination and reference purposes so as to compose your own paper; in any case, you should refer to it appropriately. You can give your paper here.

The audiences perceptions towards Macbeth through act one Essay Example for Free

The crowds observations towards Macbeth through act one Essay I am composing an article on the crowds observations towards Macbeth through act one. This implies what the crowds sentiments and considerations to Macbeth are. Macbeths attributes are all over all through the entire of the demonstration, from awful to great and malice to honorable. This makes the crowd temperamental on their musings about Macbeth. This article will be my recognition on what the crowds considerations of Macbeth are as he changes through act one. Directly from the earliest starting point, the witches show that they need to include Macbeth in their insidious plans. For example in scene 1 line 8 they state, There to meet with Macbeth.. Tragically this shows Macbeth has been picked as their casualty. This fires the tension up. The crowd currently needs to know what macbeth's identity is? In any case, this would likewise cause them to feel sorry for him on the grounds that the witches have now included him in their plot. We catch wind of Macbeth once more, when a Sergeant is conversing with the lord. In scene 2 lines 16-18 Captain says, For bold Macbeth-well merits that name- Abhorring Fortune with his wielded steel Which smoked with bleeding execution, Like Valours follower cut out his entry. So now we get the point that he is a respectable and a bold warrior. The lord answers to the sergeant in scene 2 line 24 by saying, O valiant cousin, commendable man of his word.. This implies the ruler Duncan, perceives Macbeths courage and qualities his faithfulness. The ruler very well regards Macbeth, he should be significant! Now we currently think he is a decent man and don't need the witches to engage with him. Consequently the Sergeant converses with the lord in scene 2 lines 22-23, when he says, Till he unseamed him from the navel to the chaps Also, fixed his head upon escarpments.. Macbeth shows that when he is resolved to vanquish somebody, he is rough and savage. The crowd are currently thinking he is exceptionally outrageous and he would successfully get what he needs. The ruler at long last completed the discussion in scene 2 lines 64-65 by saying, Go articulate his current passing Furthermore, with his previous title Macbeth. Lord Duncan is so satisfied with Macbeths reliability that he elevates Macbeth to the confided in position of thane of Cawdor. Macbeth is faithful and has the rulers trust. The underhanded witches are back and they currently begin to program Macbeth with thoughts that never at any point entered his brain. In scene 3 lines 48 they state, All hail Macbeth, that will be best in the future. The witches plant the thought in Macbeths mind that he will be the ruler one day. Until this point he has demonstrated total dependability to lord Duncan. He is at an unsure stage right presently keeping the crowd speculating. Macbeth needs to hear more from them and starts being exceptionally curious. In scene 3 line 48 He yelled out to the witches, Stay, you defective speakers. Disclose to me more.. Macbeth needs to hear more from the witches; this shows he is eager and preferences the sound of being top dog. This shows how artless and effortlessly brought into anything Macbeth is. Banquo an old buddy of Macbeth cautions him in scene 3 lines 121-123, however tis weird, Furthermore, intermittently, to win us to our damage, The instruments of dimness disclose to us facts,. Banquo understands that the witches are malicious and suspects that Macbeth may be taken in by them. He attempts to caution Macbeth. Not long after that Macbeth begins to give indications of evilness, which is a terrible thing. For example in scene 4 lines 42-43 Macbeth says, If chance will make them ruler, why chance may crown me. With out my mix Macbeth hypothesizes that on the off chance that he bound to become ruler. At that point perhaps it will happen notwithstanding. So he may plan something for make him lord speedier. The crowd is getting increasingly more of an image of Macbeth as he gives an ever increasing number of indications of evilness. We begin to think he wasnt as honorable and on a par with we caught wind of him from the earliest starting point of the demonstration. In scene 4 lines 48-50 he says, The Prince of Cumberland : that is a stage On which I should tumble down, or, more than likely oerleap, For in my manner it lies. Macbeth understands that Malcolm (the lords child) is an obstruction to turning out to be top dog. He demonstrates that he is set up to be merciless in managing Malcolm. Presently we come to Lady Macbeth. We see she was frantic in light of the fact that when she heard the updates on Macbeth turning out to be Thane Cawdor she begins to plot. As we heard in scene 5 lines 14-15, yet do I dread thy nature, It is too full othmilk of human benevolence. Straight away she accept Macbeth needs to become ruler, which implies the passing of lord Duncan would need to be soon. Woman Macbeth is anxious about the possibility that that her significant other is too kindhearted to do what he needs to do to become lord. So she gives indications of Macbeth being a weakling and not going to seize the chance. Now we begin to see through Macbeth and notice he has a cognizant, so perhaps hes simply all mouth. Hears what he said in scene 7 lines 15-16, Who ought to against his killer shut the entryway, Not hold up under the blade myself. Macbeth shows offense about the arrangement to execute Duncan. He believes he ought to be ensuring Duncan as opposed to assaulting him. We presently observe an alternate side to Macbeth, that he was never awful as a result of what he said in scene 7 lines 31-32, I am settled and twist up Every corporal specialist to this horrible accomplishment Macbeths heart stricken about the homicide plan. He feels in Duncans obligation as a result of the manner in which Duncan has treated him as of late. Changing the crowds perspective on him once more to being a decent individual. At that point his character just takes a drop, he returns to being malevolent and awful, this occurs in scene 7 lines 80-81 when Macbeth says, I am settled and twist up Every corporal specialist to this awful accomplishment Macbeth at long last chooses to proceed with the merciless arrangement. He is completely dedicated to the homicide of Duncan. Presently he has returned to his insidious crude self! Leaving the crowd with no compassion. He even shows contemptibility in scene 7 lines 82 where he says, False face must shroud what the bogus heart doth realize Macbeth is set up to be exploitative and tricky so as to convey his arrangements. The crowds last impression of Macbeth was he is absolutely malevolent and totally insane! End Here is a table of the Audiences Perceptions of Macbeth, all through the entire of Act 1! As should be obvious in the diagram, the crowds view of Macbeth go here and there through the demonstration. Toward the start of the demonstration we thought Macbeth was a decent respectable man, yet that before long changed. At that point we thought great and awful of him since his Behavior was all over, from great to terrible, respectable to beguiling, he experienced various stages. As far as possible of act one, his real nature at long last appeared and we perceived how abhorrent and insane for power he was and that is the reason he slaughtered the lord. Our last view of Macbeth in act 1,was that his crave the rule was so ground-breaking and fanatical. Which in the long run transformed him into a malicious maniac, that summarizes it to show how, from having ethics and qualms just as earnestness, his voracity for the seat transformed him to get tricky, tricky, and a cutthroat Macbeth. Leaving the crowd with blended emotions.

The Christian Drummer Boy

The Christian Drummer Boy Two or three times in my life God in His mercy touched my heart, and twice before my conversion I was under deep conviction.During the American war [Civil War], I was a surgeon in the United States Army, and after the battle of Gettysburg there were many hundred wounded soldiers in my hospital, amongst whom were twenty-eight who had been wounded so severely that they required my services at once.Some whose legs had to be amputated, some their arms, and others both their arm and leg. One of the latter was a boy who had been but three months in the service, and being too young for a soldier had enlisted as a drummer. When my assistant surgeon and one of my stewards wished to administer chloroform, previous to the amputation, the young soldier turned his head aside and positively refused to receive it. When the steward told him that it was the doctors orders, he said: Send the doctor to me. When I came to his bedside, I said: Young man, why do you refuse chloroform? When I found you on the battlefield you were so far gone that I thought it hardly worth while to pick you up; but when you opened those large blue eyes I thought you had a mother somewhere who might, at that moment, be thinking of her boy. I did not want you to die on the field, so ordered you to be brought here; but you have now lost so much blood that you are too weak to endure an operation without chloroform, therefore you had better let me give you some.He laid his hand on mine, and looking me in the face, said: Doctor, one Sunday afternoon, in the Sabbath-school, when I was nine and a half years old, I gave my heart to Christ. I learned to trust Him then; I have been trusting Him ever since, and I can trust Him now. He is my strength and my stimulant. He will support me while you amputate my arm and leg.I then asked him if he would allow me to give him a little brandy.Again he looked me in the face saying: Doctor, when I was about five years old my mother knelt by my side, with her arm around my neck, and said: Charlie, I am now praying to Jesus that you may never know the taste of strong drink; your papa died a drunkard, and went down to a drunkards grave, and I promised God, if it were His will that you should grow up, that you should warn young men against the bitter cup. I am now seventeen years old, but I have never tasted anything stronger than tea and coffee, and as I am, in all probability, about to go into the presence of my God, would you send me there with brandy on my stomach?The look that boy gave me I shall never forget. At that time I hated Jesus, but I respected that boys loyalty to his Savior; and when I saw how he loved and trusted Him to the last, there was something that touched my heart, and I did for that boy what I had never done for any other soldier â€" I asked him if he wanted to see his chaplain.Oh! yes, sir, was the answer.When Chaplain R. came, he at once knew the boy from having often met him at the tent prayer meetings, and taking his hand sai d: Well, Charlie, I am sorry to see you in this sad condition.Oh, I am all right, sir, he, answered. The doctor offered me chloroform, but I declined it; then he wished to give me brandy, which I also declined; and now, if my Savior calls me, I can go to Him in my right mind.You may not die, Charlie, said the chaplain but if the Lord should call you away, is there anything I can do for you after you are gone?Chaplain, please put your hand under my pillow and take my little Bible; in it you will find my mothers address; please send it to her and write a letter, and tell her that since the day I left home I have never let a day pass without reading a portion of Gods word, and daily praying that God would bless my dear mother; no matter whether on the march, on the battlefield, or in the hospital.Is there anything else I can do for you, my lad? asked the chaplain.Yes; please write a letter to the superintendent of the Sands-street Sunday-school, Brooklyn, N. Y., and tell him that the k ind words, many prayers, and good advice he gave me I have never forgotten; they have followed me through all the dangers of battle; and now, in my dying hour, I ask my dear Savior to bless my dear old superintendent. That is all.Turning towards me he said: Now, doctor, I am ready; and I promise you that I will not even groan while you take off my arm and leg, if you will not offer me chloroform. I promised, but I had not the courage to take the knife in my hand to perform the operation without first going into the next room and taking a little stimulant myself to perform my duty.While cutting through the flesh, Charlie Coulson never groaned; but when I took the saw to separate the bone, the lad took the corner of his pillow in his mouth, and all that I could hear him utter was: O Jesus, blessed Jesus! stand by me now. He kept his promise, and never groaned.That night I could not sleep, for whichever way I turned I saw those soft blue eyes, and when I closed mine, the words, Blessed Jesus, stand by me now, kept ringing in my ears. Between twelve and one oclock I left my bed and visited the hospital; a thing I had never done before unless specially called, but such was my desire to see that boy. Upon my arrival there I was informed by the night steward that sixteen of the hopeless cases had died, and been carried down to the dead-house.How is Charlie Coulson, is he among the dead? I asked.No, sir, answered the steward, he is sleeping as sweetly as a babe. When I came up to the bed where he lay, one of the nurses informed me that, about nine oclock, two members of the YMCA came through the hospital to read and sing a hymn. They were accompanied by Chaplain R., who knelt by Charlie Coulsons bed, and offered up a fervent and soul-stirring prayer; after which they sang, while still upon their knees, the sweetest of all hymns, Jesus, lover of my soul, in which Charlie joined.I could not understand how that boy, who had undergone such excruciating pain, could sing. F ive days after I had amputated that dear boys arm and leg, he sent for me, and it was from him on that day I heard the first gospel sermon.Doctor, he said, my time has come; I do not expect to see another sunrise; but, thank God, I am ready to go; and before I die I desire to thank you with all my heart for your kindness to me. Doctor, you are a Jew, you do not believe in Jesus; will you please stand here and see me die trusting my Savior to the last moment of my life?I tried to stay, but I could not; for I had not the courage to stand by and see a Christian boy die rejoicing in the love of that Jesus whom I had been taught to hate, so I hurriedly left the room.About twenty minutes later a steward, who found me sitting in my private office covering my face with my hand, said: Doctor, Charlie Coulson wishes to see you.I have just seen him, I answered, and I cannot see him again.But, doctor, he says he must see you once more before he dies.I now made up my mind to see him, say an ende aring word, and let him die, but I was determined that no word of his should influence me in the least so far as his Jesus was concerned.When I entered the hospital I saw he was sinking fast, so I sat down by his bed.Asking me to take his hand, he said: Doctor, I love you because you are a Jew; the best friend I have found in this world was a Jew.I asked him who that was. He answered: Jesus Christ, to whom I want to introduce you before I die; and will you promise me, doctor, that what I am about to say to you, you will never forget?I promised; and he said Five days ago, while you amputated my arm and leg, I prayed to the Lord Jesus Christ to convert your soul.These words went deep into my heart. I could not understand how, when I was causing him the most intense pain, he could forget all about himself and think of nothing but his Savior and my unconverted soul. All I could say to him was: Well, my dear boy, you will soon be all right. With these words I left him, and twelve minutes later he fell asleep, safe in the arms of Jesus.Hundreds of soldiers died in my hospital during the war; but I only followed one to the grave, and that one was Charlie Coulson, the drummer boy; and I rode three miles to see him buried. I had him dressed in a new uniform, and placed in an officers coffin, with a United States flag over it.That boys dying words made a deep impression upon me. I was rich at that time so far as money is concerned, but I would have given every penny I possessed if I could have felt towards Christ as Charlie did; but that feeling cannot be bought with money. Alas! I soon forgot all about my Christian soldiers little sermon, but I could not forget the boy himself. I now know that at that time I was under deep conviction of sin; but I fought against Christ with all the hatred of an orthodox Jew for nearly ten years, until, finally, the dear boys prayer was answered, and God converted my soul.About eighteen months after my conversion, I attended a prayer me eting one evening in the city of Brooklyn. It was one of those meetings when Christians testify to the loving kindness of their Savior.After several of them had spoken, an elderly lady arose and said, Dear friends, this may be the last time that it is my privilege to testify for Christ. My family physician told me yesterday that my right lung is nearly gone, and my left lung is very much affected; so at the best I have but a short time to be with you; but what is left of me belongs to Jesus. Oh! it is a great joy to know that I shall meet my boy with Jesus in heaven. My son was not only a soldier for his country, but also a soldier for Christ. He was wounded at the battle of Gettysburg, and fell into the hands of a Jewish doctor, who amputated his arm and leg, but he died five days after the operation. The chaplain of the regiment wrote me a letter, and sent me my boys Bible. In that letter I was informed that my Charlie in his dying hour sent for that Jewish doctor, and said to him : Doctor, before I die I wish to tell you that five days ago, while you amputated my arm and leg, I prayed to the Lord Jesus Christ to convert your soul.When I heard this ladys testimony, I could sit still no longer. I left my seat, crossed the room, and taking her hand, said: God bless you, my dear sister; your boys prayer has been heard and answered. I am the Jewish doctor for whom your Charlie prayed, and his Savior is now my Savior.By Dr. M. L. Rossvally Storry submitted by:  Ifeanyichukwu Akanegbu

Effect of overconfidence that happens within the market - Free Essay Example

Sample details Pages: 8 Words: 2346 Downloads: 4 Date added: 2017/06/26 Category Marketing Essay Type Argumentative essay Did you like this example? Odean (1998) theoretically investigated the effects of overconfidence in different market structures which differ in information distribution and in price determination. He presented overconfidence effects on different market measures such as trading volume, market depth, volatility, expected utility and market efficiency taking overconfidence of different traders: price takers in the market where information is broadly disseminated, strategic-trading insiders in markets with concentrated information and market-makers. Odean assumed that investors were rational in all respects except valuing the information. Don’t waste time! Our writers will create an original "Effect of overconfidence that happens within the market" essay for you Create order They overestimate the precision of their information signals. The most robust result presented is that trading volume increases when price-takers, insiders or market-makers are overconfident, however market depth also increases but expected utility of overconfident traders decrease. He also presented that overconfidence of price takers worsens the price quality but overconfidence in insiders improves it. Overconfident traders increase volatility though overconfident market makers may decrease it. Overconfident price takers reduce market efficiency because they are overconfident about their ability to interpret publicly disclosed information while overconfident insiders temporarily increase the market efficiency. In the presence of many overconfident traders market tends to under-react to the information of rational traders. Markets also under-react to highly relevant information and overreact to salient but less relevant information. Daniel, Hirshleifer and Subrahmanyam (1998) developed theoretical models based on investor overconfidence and self attribution biased. They made distinction between public and private information and defined investor overconfidence as overestimation of the precision of private information signals, but not of information signals that are publicly received. In their model, investors are quasi-rational in a way that they are Bayesian optimizers except for over valuing valid private information and biased updating of precision. Overconfidence makes investors to overestimate precision of their own valuation abilities and as a result they overestimate precision of private information signals. The theory predicts stock market under and over reaction on the basis of investor overconfidence and changes in confidence resulting from biased self-attribution of investment outcomes. Primary theme of the study was that stock prices overreact to private information signals and under react to public information signals. Unlike Odean (1998b) who presented trading volume implications of investor overconfidence, Daniel et. al. focus was on return implications of overconfidence. They showed that under certain circumstances security returns are positively auto-correlated in the short run (momentum) but negatively auto-correlated in the long run and overconfidence cause excess volatility. Odean (1998b) examined the disposition effect, the propensity of investors to sell winning investments too early and hold losing investments too long, by analyzing trading records of 10,000 randomly selected accounts from January 1987 to December 1993 at a nationwide discount brokerage house. The data file included 162,948 records of all trades made in 10,000 accounts. Accounts that were closed during the window period were not replaced which made data subject to survivorship bias to some extent in favor of more successful investors. For each day Odean constructed a portfolio of securities for which the purchase date and prices were known and compared the selling price for each stock sold to its average purchase price to determine whether that stock is sold for a gain or a loss. Securities not sold on a particular day were considered to be as unrealized (paper) gain or loss. He constructed two proportions, proportion of gain realized PGR (realized gain divided by realized gain plus p aper gain) and proportion of loss realized PLR (realized loss divided by realized loss plus paper loss). He developed two hypothesis: 1. PGR is greater than PLR (for the entire year), 2. (PLR PGR) in December is greater than (PLR PGR) in January-November. The second hypothesis was for analyzing tax motivated selling in December. He also analyzed PLR and PGR by partitioning the data in time periods and in frequent traders and infrequent traders. He showed the results by comparing proportions using t-test and concluded that investors exhibited a strong preference for selling winners and holding losers throughout the year except December when tax-motivated selling was prominent. Further, desire to rebalance or to avoid the higher trading costs of low priced stocks did not seem to motivate investor behavior. Gervais and Odean (2001) developed a multi-period equilibrium model that describes the process by which traders learn about their abilities and how a bias in this learning makes them overconfident. The model argued that traders initially do not know their ability but they infer it from their success and failure. Traders are biased in assessing their ability when they take too much credit for their success. This leads them to become overconfident. This biasness is more prevalent in early stages of trades careers. With more experience, traders better assess their abilities. Further, overconfident traders are wealthy as a result of success but wealth is not a function of overconfidence. However, process of becoming wealthy can make traders overconfident. Due to wealth of overconfident traders, they are not in immediate danger of being driven out of the marketplace. Overconfidence of a particular trader would not grow indefinitely; it would decrease gradually with time and experience. Bu t, in a market in where new traders are born every minute, overconfidence will flourish. The model showed that higher returns from general market increase make investors overconfident due to their biased attribution of returns to their abilities and therefore they trade more actively. The primary implications of model were: periods of market increase would tend to be followed by periods of increased aggregate trading. Aggregate trading would likely to rise late in a bull market and to fall late in a bear market. Volatility would also increase with the degree of traders learning bias. Due to suboptimal behavior overconfident would lower their profit. Odean (1999) tested the proposition that overconfident investor would trade too much in the market. The data included ten thousand customer accounts randomly selected from accounts that were active in 1987. It was provided by a large discount brokerage house and had 162,948 records of all trades made in sample accounts from 1987 to 1993. Odean (1999) examined that whether the trading profits of discount brokerage customers were enough to cover their trading costs. Return horizons were taken as four months (84 trading days), one year (252 trading days), and two years (504 trading days). The first null hypothesis was established as, the difference in returns (average returns to securities bought minus the average returns to security sold) was greater than or equal to the average total cost of a round-trip trade (i.e about 5.9 percent) over all the return horizons. The second null hypothesis was that average returns to securities bought were greater than or equal to those sold over the same horizons. Due to lack of independence between overlapping periods statistical test that require independence were not employed. Instead, bootstrapping an empirical distribution under the assumption that returns were drawn from the same distribution was used to test the significance of differences in returns. The results showed that investors trade too much in that their returns were reduced through trading even after controlling for trades motivated by tax-loss selling, liquidity demands, portfolio rebalancing and a move towards lower-risk securities. Overconfident investors actually lowered their returns through trading even when trading costs are ignored. De Bondt and Thaler (1995) reviewed the literature on behavioral finance. They argued that the key behavioral factor needed to understand the trading puzzle is overconfidence. They further pointed out that overconfidence can explain why portfolio managers trade too much, why active equity managers are hired by pension funds, and why financial economists often hold actively managed portfolios. Moreover, high trading volume and the pursuit of active investment strategies look to be inconsistent with common knowledge of rationality. Benos (1998) developed a theoretical model of overconfidence. He examined the overconfidence where some risk neutral investors overestimate the precision of their private information. He analyzed a strategic model of trading in a call auction market with many informed traders. Investors overestimate their precision in a way that when they receive imperfect information on asset characteristics, some treat it cautiously, realizing that it may contain irrelevant noise, while, others think signals are perfect. In his model some informed investors were overconfident about their estimates of unknown variables or about their valuation abilities. And also all market participants knew about the beliefs of all their opponents and about the overconfidence of traders and reacted accordingly. And overconfident investors compete in market orders with informed traders who have rational expectations. The model concluded that presence of overconfident traders in the market results in higher trading v olume, more depth, higher volatility and increased market efficiency. Striking result presented was that overconfident traders may make higher expected profits. This is due to first-mover in competition setting. Gallant, Rossi and Tauchen (1992) investigated price and trading volume co-movement. Their empirical study was mainly a data-based effort. It was not organized around the specification and testing of a particular model or class of models. To analyze the relationship between contemporaneous trading volume and volatility and the relationships among prices, volatility, and volume over time were the two main objectives among four. A bi-variate time series of 16,127 daily observations on the SP composite index and total NYSE trading volume from 1928 to 1987 was used. They employed seminonparametric estimation approach, which was a nonparametric estimation strategy, to analyze the data. The nonparametric choice was adopted to avoid risk of specification errors with parametric techniques. Initially data was adjusted for both long term trends and known calendar effects using different dummy variables. Data was further partitioned into three sub-periods to analyze the stability of the finding s. The results explained that there is positive and nonlinear relationship between daily price change and daily trading volume. Conditional volatility and trading volume are also positively related. Positive relationship also revealed between risk and return after conditioning on lagged trading volume. Statman, Thorley and Vorkink (2006) empirically tested the theories of overconfidence developed by Odean (1998) and Gervais and Odean (2001). The focus of the study was on trading volume implications of overconfidence. The study incorporated the overconfidence hypothesis as a separate theory of trading activity related to investors beliefs about trading in general, rather than an attitude about individual stocks they currently hold (disposition effect). The primary hypothesis was that past market returns can explain the current trading volume. In other words, there is long-lag relationship between market returns and trading volume. Database consists of monthly observations on all NYSE/AMEX common stocks, excluding closed-end funds, REITs, and ADRs, from August 1962 to December 2002. Vector autoregressive (VAR) model at market level and individual security level, was used to empirically test the implications of overconfidence. They constructed a market portfolio consisted of all the s ecurities and calculated the variables. Monthly market return and monthly trading volume were endogenous, and monthly volatility based on daily data and value weighted cross sectional mean average deviation from market returns were the control variables for market-wide VAR. Individual security level VAR had only one control variable i.e volatility but had three endogenous variables: security return, market returns and security turnover. Turnover variable was constructed as total shares traded divided by outstanding shares at the beginning of a month. The key findings of study were: there was a significant positive relationship between market-wide turnover and past market returns after controlling for contemporaneous and lagged volatility associations, consistent with the prediction of the overconfidence hypothesis. Individual security turnover was also positively related to both lagged security returns and lagged market returns. The positive security turnover response to own lagged return was interpreted as disposition effect, while positive turnover response to lagged market returns was interpreted as change in investor overconfidence. The phenomena of overconfidence and disposition effect trading were both more prominent in small-cap stocks. Zaiane and Abaoub (2009) examined empirically the theory of overconfidence in a small Tunisian market using Vector autoregressive (VAR) model and related impulse response functions. Database consisted of monthly observations of common stocks from January 2000 to December 2006. Raw shares-traded was treated as proxy for trading volume. Market returns and trading volume were endogenous variables in VAR. Whereas, volatility and value weighted cross sectional dispersion were treated as exogenous or control variables. Variables used were the same as used by Statman et.al. (2006). Hypothesis of the study was that there is positive significant relationship between past returns and current trading volume. Little evidence of relationship between trading volume and lagged returns was found in Tunisian market which was interpreted as absence of overconfidence. Though, past returns affect trading activity over some months but mostly, relationship is insignificant. However, significant positive r elation was found between volume and volatility. Pisedtasalasai and Gunasekarage (2007) examined the causal and dynamic relationships among stock returns, trading volume and return volatility in five emerging markets of South-East Asia: Malaysia, Indonesia, Philippines, Thailand and Singapore using daily data. Specifically, they investigated contemporaneous relationship between return and volume, effect of trading volume on return volatility and causal relationship between return and trading volume. They used simple regression equation for contemporaneous relationship, EGARCH model for trading volume and return volatility relationship and Vector autoregressive model for Causality. The dataset was collected from Datastream. The selection criteria for equity indices were based on representation of majority of securities and availability of corresponding trading volume. Jakarta Stock Exchange Composite Index (JSECI) for Indonesia, the Manila Stock Exchange Composite Index (MSECI) for the Philippines, theKuala Lumpur Stock Exchange Com posite Index (KLSECI) for Malaysia, the Bangkok SET Index (BSETI) for Thailand and the Datastream Market Index (DMI) for Singapore were analyzed. Data series started from January 1990 for MSECI, DMI, and BSETI, from January 1991 for JSECI and from March 1996 for KLSECI. All series ended at December 2004. To check robustness of results dummy variables for Monday effect and for Asian Financial Crisis 1997 were also incorporated. The results showed the evidence of a statistically significant causal relationship from stock returns to trading volume for Indonesia, Malaysia, Singapore and Thailand. Such evidence was not found for Philippines market. Causality from trading volume to stock returns was detected only for Singapore. Evidence of trading volume being useful in predicting return volatility was found only for Singapore and Philippines markets. Striking behavior of Philippines market was suspected as due to lower capitalization of the market.

Questions On Securities Market And Traded On Secondary...

Q. 2. Explain how securities are issued in the primary market and traded on secondary markets. â€Å"There are two different types of securities markets: the primary securities and the secondary securities market† (Kelly Williams, 2016, pg. 165). So, what does the term primary securities mean, it’s a market that describes a portion of the capital market where new securities are issued by companies, government entities; or public institutions. In this market, there is more than one way to issue securities, the first is what is known as the public offering; it’s where anyone that is trying to raise their financial capitals within that market can investing by purchase these financial securities from that of the public. Therefore, these public†¦show more content†¦Though, these investment banks are well compensated for every sell the make on the actual sell of these securities, so they will make every effort to approach the situation any way possible; just to land extra security for themselves. In addition, the bank or financial institution will pledge to buy whatever shares do not sell through these investment banks, and replace them with new ones at an adequate price; that all are on agreement too in order to gain a profit of some sort. Unfortunately, in order for the firm to go out on the limb publicly, it must first file what is called a registration statement through that of the (SEC); containing the necessary requirements the name of the corporation manager, what assets they own, their competitors’ names; and what these funds are intended to be use towards before even being considered any form of offering. Therefore, no sale can move forward, until the (SEC) gives the firm the red light to proceed with the offering of these securities; or confirms the statement to be that of a functional fact. On the other hand, there is yet another method to which one can apply to that of securities, and that is what is called private placement; securities that are sold to one or more investor, individual, or that of an institution; through that of bargaining among the two main investors (the issuing firm and the private investors). However, while knowing the difference between the two methods of issuing isShow MoreRelatedEssay on Financial Management Integrated Case 2 Answers1381 Words   |  6 Pages | |Financial Management Section C | |Homework 2: Integrated Case Questions | Chapter 2 Integrated Case 2-11 A) In a well-functioning economy, capital flows efficiently from those with surplus capital to thoseRead MoreBank Processes1139 Words   |  5 PagesCapital Markets and Investment Banking Process Paper FIN 402 May 6, 2012 Alger Marable Capital Markets and Investment Banking Process Paper Investment banking is a crucial part of our global business environment. Investments, banking, and other capital markets now have a valuable role in business and everyone’s daily lives. 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Wisdom of Realization - 1746 Words

Lesson 15 The wisdom of realization One can say that wisdom can truly be found through a realization in one own life and even through suffering. In Shakespeare’s â€Å"King Lear† and Mitch Albom’s â€Å"Tuesdays with Morrie†, we see that both main characters Morrie Schwartz and King Lear gain wisdom through realizations of certain aspects of life and through their own personal sufferings. Both Morrie and Lear gain wisdom firstly through suffering. Morrie gains wisdom through suffering physically from ALS and having to come to terms that he is no longer independent and never will be. While Lear must suffer through the fact that perhaps those he thought loved him the most, didn’t love him at all and the one person who did love†¦show more content†¦It is through this realization that he realizes what love truly is and gains the wisdom of true real and filial love of a daughter. Even when they end up in jail together he says â€Å"†¦Come, let’s away to prison; we two alone will sing like birds I’th’cage†¦Ã¢â‚¬ ¦..and pray, and sing, and tell old tales, and laugh at guilded butterflies†¦Ã¢â‚¬ (Shakespeare, 5,3,8-13)Therefore King Lear gains wisdom through suffering at the hands of his greedy and selfish daughters, only then does he know what true love and affection means .Therefore one can gain wisdom through realization and suffrage. While one can love material things, material things can never love you. Materialistic people must understand that in life it is not the things that you have, it is the people and the relationships you have even when those things have come and gone. Secondly, Morrie Schwartz comes to accept that he does not need material things now that he is dying and tries to pass on this knowledge to Mitch during one of their Tuesdays together. Money is not a substitute for tenderness, and power is not a substitute for tenderness. 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Implementation of a Robot Controller

Question: Describe about Implementation of a Robot Controller? Answer: Introduction From last two decades, technology has tremendously changed in the field automation technology; robotics system is one of them. Robotics system is a special kind of branch of electrical engineering, mechanical engineering, electronics and communication engineering and computer science which deals with the several kinds of applications of the robot such as implementation of the robot, operational design of the robot, construction, automatic control mechanism with the help of their feedback system, sensing mechanism, mapping of the robot and various kinds of information processing system (Berry, 2012). The robotics system controls the mechanism with the help of automotive machine. The automated machine controller can have several kinds of natures of the human behavior such as ability for sensing, ability for moving and ability for thinking. Several kinds of applications of robotics are crane, defusing bomb in bomb squad and for exploring ship wrecks. This report mainly focuses on the mo bile robotics with different types of behavioral control architecture such as avoidance of the obstacle, wandering and mapping of the road directions. This report also highlights a brief background of the literature review, architectural design of the overall system, behavioral design of the system, various experimental designs of the robotics system and results and findings of the experiments. Coding Coding for Obstacle avoidance: Coding for obstacle on left side # turn right # else if approaching an obstacle on the right side # turn left # else go forward from pyro.brain import Brain class Avoid(Brain): def step(self): safeDistance = 0.1 # in Robot Units #if approaching an obstacle on the left side, turn right if min(self.get('robot/range/front-left/value')) safeDistance: self.robot.move(0,-0.3) #else if approaching an obstacle on the right side, turn left 9 elif min(self.get('robot/range/front-right/value')) safeDistance: 10 self.robot.move(0,0.3) 11 #else go forward 12 else: 13 robot.move(0.5, 0) 14 def INIT(engine): 15 return Avoid('Avoid', engine) Coding for wandering of the robot from pyro.brain import Brain from random import random class Wander(Brain): def step(self): safeDistance = 0.85 # in Robot Units l = min(self.get('robot/range/front-left/value')) r = min(self.get('robot/range/front-right/value')) f = min(self.get('robot/range/front/value')) if (f safeDistance): if (random() 0.5): self.robot.move(0, - random()) else: self.robot.move(0, random()) elif (l safeDistance): self.robot.move(0,-random()) elif (r safeDistance): self.robot.move(0, random()) else: # nothing blocked, go straight self.robot.move(0.2, 0) Coding for mapping of the robot ArTcpConnection con; ArRobot robot; con.setPort (); if (!con.openSimple()) { printf("Open failed."); Aria::shutdown(); return 1; } robot.setDeviceConnection(con); if (!robot.blockingConnect ()) { printf("Could not connect to robot... Exiting."); Aria::shutdown(); return 1; } The coding for obstacle avoidance program depicts the avoidance of the obstacle with the help of pyro framework to control over the different types of robot platform. This kind of controller program is the example of direct control program. Direct control method is most useful method for introducing the robotics subjects. In this kind of controller system simply used in robotics system which provides sensor values and control system for directly output of the motor. The top five line of the coding for obstacle avoidance showcases the basic pseudo code for avoiding the various kinds of obstacles by the robot (Smith, 2001). The implementation of the pseudo code is used with the help of different kinds of abstractions from libraries. The coding which is used for avoiding the obstacle for a robot creates a class called Avoid which can be inherited from the class called Brain. Each pyro brain has some steps methods which are used to execute the control cycle within 10 times in a second. This showcases that the robot continuously avoiding the obstacle. The robot can avoid the obstacle with in safe distance which is 0.1 m for here. The right and left from sensor helps to robot to move in the right or left direction. The line number 6 and 6 depicts the front sensor with left and right direction. The line number 14 and 15 depicts the automatic initialization of the robot. The coding for wandering of the robot depicts the variety of the platforms of the robot. The wander program helps to move the robot without bumping the objects. The pseudo code depicts the sensors of the variety ranges. The pseudo code for wandering also helps to understand the different kinds of the sensors. Here three sonar sensors are used; the khepera cannot be measured by using the single infrared sensor (Frazzoli, 2013). The coding for mapping of the robot depicts the ARIA program for connecting the TCP/IP port. ArtRobot::setDeviceConnection is the connection with TCP/IP port with the number 8101 with the local host. Literature review In this part of the report several kinds of past researchers reviews on the robotics will be evaluated. The literature review should brief, summarized form with the help of a proper format. Different past researchers have researched on this topic their various findings and results can help to carry out the overall report of the robotics. Several kinds of methods are used to detect obstacle with the help of various automated devices. Different types of obstacle detection methods are shadow detection, edge detection, image segmentation and the corner detection. According to Singh, (1996) the good obstacle detection may have several kinds of features which are summarized below; The obstacle detection device should have some specific range for detection of the obstacle. The device should have ability to detect the correct obstacle among various obstacles. The device should the power of indentifying the correct obstacle ignoring all the features of the grounds. The device should be able to detect the obstacle within a specific distance. The detection of the obstacle can be occurred into following two steps such as; the first step is the detection of the edge for processing of the low level images which is used to set the image processing of the higher level. The higher level processing of the image is used to detect the edge of the device which helps to segmentation of the objects. The edge detector is such kind of mathematical operator which can responds to the changes of the spatial and discontinuous grey level pixels which can be helpful for setting the pixels for the continuous variation. The edge can be indicated by the abrupt changes of the spatial of the images. The abrupt changes can be categorized into several kinds. Edge diving areas may have several kinds of rapid variations. Detection of the edge always should be based on the requirements of the output and the information of the edge is shared between the variations. The edge information can be used to determine the different closed areas between the dif ferent objects. Various types of the edge detector can work under different conditions. Singh, (1996) also summarized that different kind of algorithms are used for various edge detection operation. Boolean function based detection of the edge can produce several kinds of thickness of the edges on its output thus it can create a problem for finding fine image. According to Marr-Hildreth, (1998) it can be stated that there is no differences between the strong edges and weak edges detection of the robotics devices as it consist of one operator of the threshold edges. The edge detector of the canny cannot perform well under circumstances of high quality of the images. The quality of the images of the edges is fully dependent on the algorithm of the edges, properties of the surfaces and conditions of then lighting, different densities of the edges and noise (Frazzoli, 2013). The algorithm with the help of several kinds of approximating threshold can be used to overcome the different types of limitation of the edge detection. Intensity variation plays an effective role at the time of image processing of the edge detection. The derivation of the intensity of the edge detection shows the relationship between the existence if the edges and the variation of the intensity of the edges. The above diagram showcases the intensity of the derivatives of an edge. Several kinds of edge detection methods are summarized below; By using gradient operator method Sobel, Prewitt and Roberts methods are used to derivative of the calculation of the map for calculating the gradient changes of the edge (Marques, 2008). The common gradients methods for operating of the edge detection methods are shown below; By using optimum operator Marr-Hildreth Edge detector uses the Gaussian method with the help of invariant Laplace transformation r2f = / which is used to determine the gradient changes of the within the edge of the threshold. This formula shows the accurate results of the edge detection with the help of the algorithm. Canny model edge detection used as the problem detection of the signal processing with the help of signal to noise ratio, various kinds of the signal responses criteria and the accuracy of the location edge criteria. According to Nadernejad and Hassanpour, (1998) it can be found that there are several kinds of differences between the edge detections of the Marr-Hildreth edge detector, detector of the canny edge and several kinds of Boolean function based edge detection. Architecture design In this part of report several kinds of architectural mobile robotics design will be evaluated with the help of various software and hardware functionalities of the design. Several kinds of software functions for implementation of the mobile robotics system are summarized below; The interpretation software implementation helps to detect the several kinds of inputs provided by the sensor of the edge detector (Frazzoli, 2013). To control over the motion of the wheels and other kinds of the movable parts. To plan for the future path of the robotics architecture. Several kinds of complications may arise during the design stage of the mobile robotics system which are described below; Path can be blocked by the various kind of obstacle. Imperfect input of the sensor can block the system. Power supply should be taken into consideration during the stages of the design. Mechanical limitations may damage the system. According to the requirements of the report the behavioral architectural design of the mobile robotics consists of three methods such as the avoidance of the obstacle, wandering and mapping for the edge detection of the object. The evaluation criteria of the designs are; The device should be able to detect the obstacle. The devices should be able to mapping with the help of detection of the edge. The device should be accurate and reactive behaviors. The robot should be able to allow for different kinds of uncertainty. The device should be flexible and real time. The architectural design can be classified into three types of solutions such as control loop design, layered architecture of the robotics system, and invocation of the implicit with the help of TCA and the architecture design of the blackboard (Berry, 2012). First step is the design of the control system which is depicted below; The control system of consists of four parts such as controller, actuator, sensors and the environment. The active component of the robot should coordinate with the several kinds of activities with the help of actuator and the sensor. The environment of the design should be taken into consideration which can detect the several kinds of problems which may cause the fault of the power supply and unsafely performance of the robot. The major components for designing of the control system are motors, supervisors and the sensors. The control system device should be flexible so that it can operate in any environment. Layered architecture consists of several kinds of components such as robot control, control, navigation, supervisor, modeling on real world, interpretation of the sensor and global planning. This stage is used to design the communication between the several kinds of hierarchy. Various interlayer used to support the reconfiguration of the system. TCA is the task control architecture which combined all types of tasks provided by the implicit invocation (Marques, 2008). The several tasks communicated between them. Roles of the task are described below; Handling of the exception. To monitor the different messages. To handle the wire tappers. The last step of the architecture design is the architecture of the blackboard which are depicted below in the figure; Experimental design In this part of the report several kinds of experimental design process will be described which can be helpful for further design of the mobile robotics (Akella, 2008). The lunar obstacle can be classified into two types such as rocks and holes. To detect the two types of obstacle the intensity map are used for detecting the two types of images such as the lowest point of the intensity and the highest point of the intensity. Comparing several kinds of edge detection it can be concluded that the canny edge detector provides the best results among them. Sensitivity and accuracy can be detected by using the canny edge detection. The limitation of the canny edge detection is the shadow. By using the additive removal model the shadow during the detection can be removed. Shadow coefficient also can be used to eliminate the low points of the image (Frazzoli, 2013). The step by step image process flow algorithm is described below; Results Detection of the shadow and removal Blajovici, Kiss, Bonus, Varga showcase the direct and ambient light for detecting the shadows. Shadow is the part of the image, according the model of the shadow it can be defined as; Ii = (tI cos I Ld+ Le) Ri , where Ii is the pixel of the images, Ld is the direct light, Le is the light of the environment, Ri is the surface reflectance, I is the angle of the direct light and tI is the factor of the attenuation. The shadow coefficient can be denoted by ki = (tI cos I) The ratio between the environment light and direct light can be denoted by r= Ld /Le Conclusion Robotics system is a special kind of branch of electrical engineering, mechanical engineering, electronics and communication engineering and computer science which deals with the control, implementation and automatic system (Zhang, 2010). The entire can be classified into several kinds of segmentation such as introduction part, coding part, literature review of the overall robotics system, experimental design part and the results of the design of the robotics. In the part of the introduction a brief description of the robotics has been described, in literature review part several kinds of researchers review have been showcased regarding the robotics system, in the architecture part three steps of solutions have been evaluated with the help of different facts and figures, the result part showcases the results of the overall design and the experimental design part showcases the design steps of the edge detection of the robotics system. References Agarwal, P., Kavraki, L. and Mason, M. (1998).Robotics. Wellesley, Mass.: A K Peters. Akella, S. (2008).Algorithmic foundation of robotics VII. Dordrecht: Springer. Albus, J. (1994).Brains, behavior, and robotics. Peterborough, N.H.: BYTE Books. Arkin, R. (1998).Behavior-based robotics. Cambridge, Mass.: MIT Press. Azad, A. (2012).Adaptive mobile robotics. Singapore: World Scientific. Berry, C. (2012).Mobile robotics for multidisciplinary study. [San Rafael, Calif.]: Morgan Claypool Publishers. Brady, M. (1989).Robotics science. Cambridge, Mass.: MIT Press. BraÃÅ'ˆunl, T. (2008).Embedded robotics. Berlin: Springer. Buzug, T. and Lueth, T. (2004).Perspective in image-guided surgery. Singapore: World Scientific Pub. Dudek, G. and Jenkin, M. (2000).Computational principles of mobile robotics. New York: Cambridge University Press. Frazzoli, E. (2013).Algorithmic foundations of robotics X. Berlin: Springer. Ghosh, B., Xi, N. and Tarn, T. (1999).Control in robotics and automation. San Diego: Academic Press. Glaser, A. (2009).Industrial robotics. New York: Industrial Press. Gray, J. and Caldwell, D. (1996).Advanced robotics intelligent machines. London: Institution of Electrical Engineers. Kelly, A. (n.d.).Mobile robotics. Laumond, J. and Overmars, M. (1997).Algorithms for robotic motion and manipulation. Wellesley, Mass.: A K Peters. Marques, L. (2008).Advances in mobile robotics. Singapore: World Scientific Pub. Co. Meng, Y. and Jin, Y. (2011).Bio-inspired self-organizing robotic systems. Berlin: Springer. Nehmzow, U. (2000).Mobile robotics. London: Springer. Smith, P. (2001).Active sensors for local planning in mobile robotics. River Edge, NJ: World Scientific. Tosun, O. (2010).Mobile robotics. Singapore: World Scientific Pub. Co. Wang, F. and Gao, Y. (2003).Advanced studies of flexible robotic manipulators. Singapore: World Scientific. Wise, E. (1999).Applied robotics. Indianapolis, IN: Prompt Publications. Zhang, D. (2013).Advanced mechatronics and MEMS devices. New York, NY: Springer. Zhang, P. (2010).Advanced industrial control technology. Amsterdam: William Andrew/Elsevier.