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Impulsivity and Investment Risks: A Behavioral-Economic Analysis of Magnitude Effects in Decision-Making
Get PDFHuman decision making involves weighing probabilistic outcomes and uncertainty alongside the magnitude of potential gains and losses. Delay discounting refers to a perceived decline in the present value of a reward as the delay to acquisition increases. Impulsivity can be reflected by an individual\u27s preference for smaller, immediate reward compared to larger, delayed reward. Experimental manipulation of tasks such as the Iowa Gambling Task (IGT) have been introduced to evaluate individual sensitivity to risk in monetary decision-making scenarios. In the current study, we compared two versions of the IGT, one with original magnitudes and one with high magnitudes. We proposed that a change from the original to high magnitude version of the IGT would cause a shift in preference away from advantageous choices and towards disadvantageous choices. We also aimed to see if IGT performance was correlated to impulsivity on the delay discounting task and the Barratt Impulsiveness Scale. Results of this study replicated that when the magnitude of reward increases, impulsivity decreases on the delay discounting task. In the IGT the original and high magnitude tasks did not differently impact choices. Performance was not correlated across tasks. This study thus plays an important role in examining multiple behavioral economic factors which relate to impulsiveness, risk-taking and financial behavior in times of economic uncertainty
Locating The Archangel Saint Michael in Michelangelo Buonarroti’s The Creation Of Adam
Get PDFThis thesis asserts that Michelangelo\u27s The Creation of Adam contains an unrecognized interpretation of the Archangel Saint Michael, thereby enriching Leo Steinberg\u27s foundational analysis of the fresco\u27s theological intricacies. Building on Steinberg\u27s identification of the glider figure as a possible visual allusion to Michael, this study contends that Michelangelo intentionally integrated the archangel to symbolize themes of divine protection, judgment, and cosmic justice. Employing a multidisciplinary approach, the thesis draws from a range of biblical and apocryphal texts, including Revelation and The Assumptions of Moses, to illustrate that Saint Michael\u27s traditional roles, as the protector of paradise, defender of the faithful, and adversary of Satan, are visually encoded within the fresco. Additionally, the argument is supported by a comparative iconographic analysis of contemporary and earlier representations of Saint Michael, revealing that Michelangelo adapted recognizable visual motifs, such as youthfulness, curled golden hair, and a martial stance, to characterize the glider figure. The thesis further delves into Michelangelo\u27s evolving spiritual perspective through a theological examination of The Last Judgment, illustrating how the artist\u27s depiction of Michael transitions from that of a guardian to a judge. This shift reflects a broader personal and cultural contemplation of mortality and salvation. By identifying the glider as Saint Michael, this study reframes The Creation of Adam as a narrative encompassing both divine creation and visual theology, addressing humanity\u27s fall and redemption. In doing so, it adds a new dimension to our comprehension of Michelangelo\u27s spiritual vision and the overarching narrative of the Sistine Chapel Ceiling
Playing Empathy: The Impacts of Theatre on Empathy
No full textThe purpose of this study is to address a gap in the literature regarding the relationship between theatre and empathy; specifically, investigating how varying levels of participation in theatre may influence cognitive and affective empathy. This study examines whether empathy can be fostered through mere observation of theatre or whether active participation yields greater effects. Twenty-eight undergraduate participants, all of whom attend a small liberal arts college in the United States, either participated in three theatre games or observed their fellow participants playing them. The results did not support the primary hypotheses, as most empathy-related measures showed no statistically significant changes. The only variable to produce a significant result was that participants agreed they remembered details provided to them after the intervention. Despite this, there was no reported increase in concern for others\u27 thoughts, and participants scored lower than the pretest on the Self-Empathy Questionnaire (SEQ), suggesting a potential decrease in empathy. The results help to highlight the importance of preventing cognitive overload, the structure of the theatre games themselves, and the duration of the intervention. The study emphasizes the need for future research to refine intervention design and duration to effectively measure the relationship between theatre and empathy
Promises Of Prosperity: The Impact of Constitutionalizing Economic and Social Human Rights
No full textDoes the attempt to have legal enforcement of economic and social rights in national constitutions positively influence other development outcomes? I hypothesize that economic and social outcomes are better in countries that enshrine these rights in their constitutions, and use a mixed methods approach of quantitative and qualitative analyses to test this. This study includes a regression analysis of 52 countries correlating a summary index of the strength of constitutional rights to education, health, housing and workers\u27 rights in 68 countries with the 2019 Social and Economic Rights Fulfillment (SERF) Index, finding no significant correlation between the variables. A second regression analysis using 71 countries’ data from the Toronto Initiative on Economic and Social Rights (TIESR) revealed similar results. A comparative analysis of Ecuador and Chile, which are similar in size and location but have contrasting SERF and TIESR scores, suggests that constitutional rights alone may not drive rights fulfillment. Factors like policy implementation, GDP, norms, and historical context could play a larger role. Regardless, a rights-based economic framework remains integral to promoting dignity and equity, and may still be the best route to shared prosperity
Optimization of WASH-DR and Rwanda Ceramic HWTS Systems
No full textAccess to safe drinking water remains a global challenge, affecting over 2 billion people. Fecal coliform contamination poses serious health risks, particularly in developing regions like the Dominican Republic and Rwanda. Rollins College professors have implemented Field Studies to support water filter distribution in these areas. This study evaluates the optimization of Household Water Treatment and Safe Storage (HWTS) systems used in the WASH-DR and Rwanda-Rural Education Field Studies, focusing on Dr. Bernal’s chlorination and filtration system and Rwanda’s ceramic filters. A key innovation is the integration of the MadiDrop+, a silver-impregnated ceramic tablet that releases antimicrobial silver ions, as a lightweight alternative to carbon cartridges. Experimental results show that MadiDrop+ alone moderately reduces microbes, but when combined with chlorine, achieves complete coliform elimination while maintaining chlorine residuals within WHO safety guidelines. Comparative testing of the Umeringa and Rwanda ceramic filters identifies the Rwanda model as superior in microbial removal, durability, and flow rate. Adding MadiDrop+ to the Rwanda filter further improves disinfection without compromising water quality. This combination of ceramic filtration, silver ion treatment, and controlled chlorination forms a multi-barrier system that meets WHO standards for safe household water. These findings support the potential for scalable, cost-effective, and transportable HWTS solutions to improve water quality and reduce diarrheal disease in vulnerable communities. Future research should explore long-term user adherence and broader community implementation to sustain health impacts
Duration and bond price volatility: Some further results
No full textThis paper evaluates the relative performances of three alternative bond price volatility approximations: Macaulay duration, convexityaugmented Macaulay duration, and an alternative proposed by the authors. Unlike the first two methods, the third is exact rather than approximate in predicting changes in zero-coupon bond prices. In addition, the alternative improves on the accuracy of the Macaulay formula and, for large interest rate changes, of the convexityaugmented formula. For small changes, the accuracy of our proposed and of convexity are similar. Finally, calculation of price changes is considerably more computationally efficient using our proposed formulation, providing it certain pedagogical advantages over convexity.(JEL: G12
A Re-examination of the Mundell-Fleming Flexible Exchange-Rate Model
No full textFor over thirty years, the Mundell-Fleming model has served not only as a template for research in international macroeconomics, but also as an important pedagogical tool. The underlying pedagogical value of the model is that it can be combined with other models to explain how different exogenous factors impact the balance of payments and the exchange rate. The purpose of this paper, in turn, is to elucidate the pedagogical value of the Mundell-Fleming model by presenting a traditional market model consisting of their model and a Keynesian-Hicksian IS/LM and aggregate supply and demand curve model that can be used to evaluate the impacts macroeconomic policies and events have on exchange rates
An Overview of the 2005 Bankruptcy Reform Act:A Teaching Supplement
No full textThis research provides an academic tool for filling a potential gap in education related to the importance of bankruptcy for small business owners’ financial decisions. We develop a teaching supplement that provides a critical and comprehensive analysis of the 2005 Bankruptcy Reform Act’s effect on business owners’ risk taking decisions. The supplement also provides empirical statistics on the bankruptcy outcomes for small businesses and unincorporated entrepreneurs. Renewed attention to this area should enable educators to increase students’ awareness of the rapid changes and provide a practical application for the theoretical concepts within financial economics