Taleb rarely points out data or figures in defense of his arguments and defends the same by saying that it is a mistake to use statistics without logic, but not vice versa. We underestimate the share of randomness in about everything, due to myriad biases we often tend to attribute our successes to our skills and blame bad luck for our failures. Risk taking is described as random foolishness. People are taught to think simple and that simplification is also dangerous. Thus there are two poles, extreme thinkers and simplifiers, both of whom are dangerous.
In other words, the cost of raising fund is the firm’s cost of capital. Estimate a firm’s cost of capital is important because can help conclude required return for capital budgeting projects. Usually, the investor only picks up the project which provides higher return and lower risk on investments. Since the cost of capital is the minimum return required by investors, manager should invest only in projects that generate returns in excess of the cost of capital. Cost of capital can help define the acceptability of investment opportunities.
Are business gifts different from bribery? I. Facts 1) What is the difference between a “gift” and a “bribe”? Gift: Something of value given without the expectation of return. In general, a ‘gift’ is something given as a sign of friendship or appreciation.
Introduction “Economists may attempt to ignore psychology but it is sheer impossible for him to ignore human nature. If the economist borrows his conception of man from the psychologist, his constructive work may have some chance of remaining purely economic in character. But if he does not, he will thereby avoid psychology. Rather, he will force himself to make his own, and it will be bad psychology.” John Maurice Clark, “Economics and Modern Psychology” Journal of Political Economy, 1918, Vol. 26, p. 4 The main point I want to make today, drawing largely from the findings of behavioral economics, is that we all find “rational” financial decision-making difficult.
Fable 1: The Fable of Education as a Commodity What opinion would an ethical egotist have of volunteer work? Why? What would the ethical egotist think of Deidre? Would s/he approve of Deidre’s attitudes? Is there any ethical difference between doing volunteer work for altruistic reasons and doing it purely to further your own employment prospects?
According to As You Like It by Shakespeare and the short story An Ex-mas Feast in Say You’re One of Them, by Uwem Akpan, understanding does nourish belonging and a lack of understanding prevents it. However, the picture book, The Big Little Book of Happy Sadness by Colin Thompson only recognizes the latter feature of belonging. Being aware and knowledgeable of ones surroundings leads to a greater, more worldly understanding, allowing a sense of belonging to be experienced, for example by the characters Rosalind and Duke Senior in AYLI, and Maisha in An Ex-mas Feast. Consequently, a lack of awareness and understanding inhibits belonging as seen in the picture book and experienced by Orlando, Duke Fredrick and Jigana in my related text. The pastoral nature of the Forest or Arden in AYLI creates a relaxed atmosphere which nourishes understanding and hence a sense of belonging.
As cited in Passer et al altruism has been defined as the ability to put one’s self in the place of another and to share what that person is experiencing. Altruism is considered to be a form of helping behaviour however, it is not clear what the motivation behind this selfless pro-social act is. Can an individual really be motivated to help another only by the idea of enhancing the other individual’s welfare? The theory of egoism must be noted at this stage. Egoism has been defined as the sole concern for one’s own needs and
The goal of this study was to see whether when thinking about money had an impact on savoring. Participants were randomly assigned to a money prime or a control
However, too much is never better, people can sometimes be pressurized by these and in turn become depressed. Many things that people persue are often materialistic items, such as cars or the latest smartphones. Working hard in persuing these things to the point of becoming depressed is just not worth it. In fact they should understand that only when they are contented, would they settle down and truly appreciate what they have. There are many cases where people who are relatively poorer are in fact much happier.
As I became a teenager, my attitude changed quietly from optimism to pessimism. I always concerned about what I had not gained but was seldom happy for what I had had. Honestly, on the one hand, this kind of pessimism is negative and harmful to mental health. On the other hand, it offers opportunities to improve abilities. With pessimistic attitude I will consider what I should do to achieve the perfection.