INTRODUCTION "The Market for Lemons: Quality Uncertainty and the Market Mechanism" is a 1970 paper by the economist George Akerlof. It talks about data asymmetry‚ which happens when the merchant or seller knows more around an item than the purchaser. A lemon is an American slang term for a car that is discovered to be blemished or defective strictly when it has been purchased. Akerlof‚ Michael Spence‚ and Joseph Stiglitz mutually got the Nobel Memorial Prize in Economic Sciences in 2001 for their
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Concepts of Terrorism Analysis of the rise‚ decline‚ trends and risk December‚ 2008 Deliverable 5‚ Workpackage 3 1 TABLE OF CONTENTS Introduction........................................................................................................................ 4 PART A. .................................................................................................................................. 5 1. TERRORISM RISE AND FALL: ROOT AND TRIGGER CAUSES AND CAUSES FOR DECLINE
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Definition of Value at Risk (VaR) Value at risk is a statistical technique which measures the level of financial risk in a portfolio over a specific time frame. For example‚ if a firm states that it has a 1% one week value at risk of $5 million; this would mean that for any given week‚ the firm would have a 1% chance of losing $5 million. In order words‚ 1 out of every 100 weeks‚ the firm would expect to have a loss of $5 million. This can be viewed as the standard deviation of portfolio value
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Analysis of the Uncertainty Reduction theory on interpersonal communication Through this paper I will conduct an analysis of the uncertainty reduction theory and will then apply it to my own experience here in Colorado university. This theory has been subject to many articles and studies in the communication and social departments. Indeed‚ studying this theory can help us understanding human relations in interpersonal communication. Each of us has been one day confronted to uncertainty‚ whereas in
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STRIKING A BALANCE BETWEEN ETHICS AND ICT GOVERNANCE Graeme Pye & Matthew J. Warren School of Information Systems‚ Faculty of Business and Law‚ Deakin University‚ Geelong‚ Victoria‚ Australia‚ 3217 Email: mwarren@deakin.edu.au ABSTRACT Ethics and Information Communication Technology (ICT) Governance both have their place in today’s business organisations‚ but can their practical applications present an ethical ambiguity for the IT professional employed within the business organisation
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Experimental Errors and Uncertainty Data: The data table that follows shows data taken in a free-fall experiment. Measurements were made of the distance of fall (Y) at each of the four precisely measured times. Time‚ t (s) Dist‚ y1 (m) Dist‚ y2 (m) Dist‚ y3 (m) Dist‚ y4 (m) Dist‚ y5 (m) <y> σ t2 0 0 0 0 0 0 0.5 1.0 1.4 1.1 1.4 1.5 0.75 2.6 3.2 2.8 2.5 3.1 1.0 4.8 4.4 5.1 4.7 4.8 1.25 8.2 7.9 7.5 8.1 7.4 Procedures From the above data perform the following Tasks. Task 1. Complete
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What is decision making; The process of selecting from several choices products or ideas‚ and taking action. Decision making includes followings : 1.A position or opinion or judgment reached after consideration . * 2.Choosing between alternative courses of action using cognitive processes - memory‚ thinking‚ evaluation‚ etc . * * 3.The process of mapping the likely consequences of decisions‚ working out the importance of individual factors‚ and choosing the best course of action
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Decision-Making Decision-Making Decision-making introduction Excellent decision-making is an essential tool used for management and leadership within an organization. It is important that an organization learns to make appropriate and well-considered decisions; in return the manager will lead the team to spectacular and well deserved success. However‚ poor decisions made can lead to failure. Decision-making is essential to organizations across the globe‚ especially the health care
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Recent scientific breakthroughs on the cloning of cells‚ both human and others‚ have sparked many debates regarding the moral repercussions that might arise as result of careless and unsupervised cloning. In a letter to the editor published in ‘The Age’ on April the 22nd 2015‚ Mr Bruce Banner argued that the cloning of animals and possibly humans as well is a ‘dangerous and frightening’ threat that should not be allowed to continue and be studied any further. With a contrasting view to
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Development of Risk Management in the GCC Oil and Gas Sector Dr. Faisal Al-Thani November 9‚ 2008 0 Contents Why Risk Management is important National Oil Company case study N ti l C t d The Risk Management model Conclusion C l i 1 Characteristics of Oil and gas Industry Oil and gas industry is prone to uncertainty – – – – – – Oil reserve uncertainty Exploration uncertainty Crude price uncertainty Product price uncertainty Demand uncertainty Supply uncertainty Oil and gas
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