Feedback in Communications Essay

When you make a conscious choice to give and receive feedback on a regular basis you demonstrate that feedback is a powerful means of personal development. Done properly, feedback need not be agonizing, demoralizing, or daunting and the more practice you get the better you will become at it. It may never be your favorite means of communicating with employees, co-workers, or bosses but it does have the potential to make your workplace a much more productive and harmonious place to be. No doubt the process of giving feedback is seen as unnerving and fear provoking. And the workplace can sometimes be the wrong emotional environment in which to discuss performance, introduce suggestions for improvement, and talk about goals for the future. This is a shame, because giving and receiving feedback is some of the most important communication you can engage in with members of your organization. When done in the right way and with the right intentions, feedback communication is the avenue to achieve good performance. Employees have to know what they are doing well and not so well. For them to really hear your thoughts and suggestions on ways to improve, though, that feedback has to be delivered carefully and frequently. Giving feedback effectively is a skill. And like all skills, it takes practice to build your confidence and improve. The following is a collection of â€Å"feedback giving† tips that organizations can try and use. Try to make is positive. Before giving feedback managers or employees should remind themselves why they are doing it. The purpose for giving feedback is to improve the situation. Being confrontational will not accomplish anything.. That’s not to say you must always be positive. There is a role for negativity and even anger if someone isn’t paying attention to what you’re saying. However, this should be used only if necessary. You’ll most often get much more from people when your approach is positive and focused on improvement. Be Timely The closer to the event you address the issue, the better. Feedback isn’t about surprising someone so the sooner you do it, the more the person will be expecting it. IT is much easier to give feedback about an issue that was just completed/not completed than is it to give feedback about a whole years performance. The exception to this is if the situation involved is highly emotional. Waiting until everyone has calmed down before you engage in feedback may help you avoid further confrontation on both sides. You can’t risk letting yourself get worked up and risk saying something you will regret later. Make it Regular When something needs to be said, say it. People then know where they stand all the time and there are few surprises. Also, problems don’t get out of hand. This is not a once-a-year or a once-every-three-months. While this may be the timing of formal feedback, informal, simple feedback should be given much more often depending on the situation. Be Specific Tell the person exactly what they need to improve on. This ensures that you stick to facts and there is less room for vagueness. Remember to stick to what you know first hand: You’ll quickly find yourself on shaky ground if you start giving feedback based on other people’s views. Criticize in Private and Use â€Å"I† Statements While public recognition is appreciated, public scrutiny is not. Establish a safe place to talk where you won’t be interrupted or overheard.. Give the feedback from your perspective. This way you avoid labeling the person. Say, â€Å"I was angry and hurt when you criticized my report in front of my boss† rather than â€Å"You were insensitive yesterday.† Limit Your Focus and Talk Positive A feedback session should discuss no more than two issues. Any more than that and you risk the person feeling attacked and demoralized. You should also stick to behaviors the person can actually change or influence. A good rule is start off with something positive. This helps put the person at ease. It also lets them â€Å"see† what success looks like and this helps them to take the right steps next time. As long as it’s not forced, it can also help to give positive feedback at the end of a feedback session too. Otherwise, people can finish feeling despondent and worthless. Provide Specific Suggestions and Follow Up Make sure you both know what needs to be done to improve the situation. The main message should be that you care and want to help the person grow and develop. Set goals and make plans to monitor and evaluate progress. The whole purpose of feedback is to improve performance. You need to measure whether or not that is happening and then make adjustments as you go. Be sure to document your conversations and discuss what is working and what needs to be modified. The Benefits of Receiving Constructive Feedback Constructive Feedback is important to the achievement of any professional business connection. Providing feedback is something individuals do to offer suggestions or assessments of someone else’s job performance. As stated in the article, â€Å"Giving Constructive Feedback,† giving constructive feedback is an essential and effective tool in boosting much-needed morale, supporting career progression and encouraging good teamwork. Constructive Feedback should not make people feel discouraged, but make them feel like their work and contributions are appreciated. Constructive Feedback can also better a person by the improvement of work performance. Here are some benefits of receiving constructive feedback listed on helium.com: 1. â€Å"It gives individuals the ability to correct any mistakes you make before you either make the same mistake again, or make your current error worse†. 2. â€Å"It Help individuals learn a new skill as quickly as possible.† An examp le of this is learning a skill such as self defense. If the teacher does not give constructive feedback on how the student is shaping their method, progress will come much slower. 3. â€Å"It helps individuals improve on their current skill set.† For example, many professions benefit from others giving them feedback on their current projects. Feedback is like guidance that will allow employees to learn as well improve their quality of work. 4. â€Å"Trust is established between management and staff when constructive feedback is rendered.† When the staff sees that management care, they will begin to care as well. There will be a change in how feedback improves the interpersonal relationships with higher authority and employees. 5. â€Å"Managers providing constructive feedback practice a process of mentoring and developing their staff to stardom within the organization.† 6. â€Å"Providing feedback can improve employee morale and reduce confusion regarding expectations and current performance†. Some individuals do not have the ability to give others constructive feedback. Feedback should be significant and beneficial. If an individual is put in a position to give another person feedback, that individual must make sure the criticism is helpful, not cruel. â€Å"Constructive feedback presents you with the perfect opportunity to grow and learn from your mistakes. But, one of the biggest things that can harm your chances of getting constructive feedback is to become defensive or not listen to the person when they are giving you the feedback† (helium.com). As stated in the article, â€Å"The Importance, Benefits and Fundamentals of Providing Feedback in Sales,† it is suggested that an individual giving constructive feedback should identify the problem, explain how the behavior is wrong or detrimental, help the individual acknowledge the problem, develop goals with the individual, and then monitor the individual’s performance.The main benefit of constructive feedback is to help individual’s advance, acquire information faster, or to better themselves. Examples of effective and ineffective feedback Throughout this paper, giving and receiving feedback has been defined. Also, the different ways to give and receive feedback has been established. This section will elaborate on examples of giving and receiving feedback. Many people experience ineffective feedback on a daily basis. Most often the cause is a supervisor or manager who does not want to release control, however, ineffective feedback is not limited to this particular situation. In the book, Coaching for Performance by John Whitmore, he states there are â€Å"five levels of feedback that are in common use† (Whitmore, 2010, p. 123). Below is a scenario that will be used to show the different types of criticism most commonly experienced by most people. Scenario A project has been assigned to Jane who is a new member of the Cost-Cutters Team. The goal of the team is to brainstorm, propose, and implement a new way of cutting the company’s cost in the most effective manner. Jane is to write the proposal which will be submitted to board for approval. Once the brainstorming has been completed, the team leaves everything in Jane’s hand with a warning. They tell her, â€Å"Do not mess this up.† Jane feels confident she can write the proposal and does not take the warning personal. Once the proposal is finished, Jane comes back to the team to receive feedback from them. The proposal is handed around to each member of the team with many comments being made on everything from the design of the proposal to the steps of implementation. Ineffective feedback Team member #1 stated, â€Å"You really missed the mark with this assignment.† Making this type of statement does not help anyone. The feedback is extremely critical and offers no direction or opportunities for the receiver to learn or make improvements. Personal criticism is a very ineffective way to critique (Whitmore, 2010, p. 124). Team member #2 told Jane, â€Å"This will not do. We will have to scrap this and begin again.† According to Whitmore, the feedback displayed by this statement is judgmental and by directing the comments at the proposal instead of the person, â€Å"damages self-esteem† (Whitmore, 2010, p. 124). Team member #3 made this statement to Jane. â€Å"You have a clear plan; however, the design and packaging of the proposal will not be well received by the board.† Team member #3’s statement is mildly better than the two before. The beginning of the statement gives some direction for Jane. The plan outlined in the proposal is a good one. When it comes to a design for the proposal, however, Team member #3 did not give any clear instruction or insight to assist Jane, leaving her on the outside (Whitmore, 2010, p. 124). Team member #4 asked Jane this question, â€Å"Do you like your proposal?† Although the statement allows Jane the opportunity to actually acknowledge she is the â€Å"owner† of the proposal, without more in-depth questions, Jane is still left without clear direction. Effective feedback Team member #5 took a different approach to the situation by asking a series of question to get Jane to thinking about the proposal and how it could be improved (Whitmore, 2010, p. 124). Team member #5 also thanked Jane for taking on the assignment in the first place because it freed the other members to focus on other issues assigned to the team. According to Don and Sheryl Grimme, authors of The New Manager’s Tool Kit, use of this type of positive feedback increases the chances that Jane will â€Å"repeat the desired behavior† in the future and not shrink away from an assignment (Grimme & Grimme, 2009, p. 82). The questions not only got Jane to thinking about what she was trying to express with the proposal, the questions reminded Jane that she wrote this proposal. It was â€Å"her† proposal and she regained her confidence in her ability to produce an acceptable proposal for the board. Whitmore says that by asking a series of questions void of criticisms and judgmental comments leaves room for â€Å"accelerated learning and improved performance (Whitmore, 2010, p. 124). How Feedback Can Effect Development Feedback plays a critical part on a person’s cognitive development because it is a method to how individuals associate with others and the world around them. It is how people learn to make decisions. However, there is more to giving or receiving feedback when it is a matter of cognitive development concerns. Instead it becomes a question of how much feedback is necessary and what other functions can help to receive beneficial results. Therefore other functions are introduced such as physical activity, practice or repetition. The idea is to combine both feedback and practice, where as the two components become interdependent. The research of Motor Learning in Children: Feedback Effects on Skill Acquisition may help to understand why considering how much feedback for an individual is really necessary. There are various methods of feedback and examples that will further exemplify how cognitive development and feedback play a major role in today’s experiences. According to recent case studies by Katherine J Sullivan, Shailesh S Kantak, and Patricia A Burtner, cognitive theory is one of the factors among effective feedback-processing capability from the receiver. In their study, processing capability determines the affect of feedback among motor skills training. Half of the participants, both children and young adults receive either %100 feedback with motor skill practice or reduced feedback with motor skill practice. The result of the study is all participants who receive %100 feedback show more signs of accuracy and consistency. On the other hand young adults with reduced feedback still show signs of accuracy and consistency with additional practice; which means equal results can come from reduced feedback. Another interesting fact in the research is how children processed information differently than that of adults. It’s obvious that children would need more practice in order to process the information, but does that mean adults do not need as much feedback as children? Although the example above surrounds skill development among children and young adults, it is still informative for all professionals in various settings to determine the frequency of effective feedback along with helpful components. This may be relevant in situations where professionals such as managers, teachers, or doctors- who preside over various groups or individuals have to determine the level of feedback that is necessary to gain the intended result. Furthermore, there are similar ways of feedback that are used for adults as it is for children, such as corrective feedback, by immediately responding to an error. However, adults do not require continuous or %100 feedback to gain a skill, or retain new information as children do. For example: a manager is presenting a new system for meeting daily quotas. This new system requires employees to rearrange his/her method for recording data. After training, employees are judged by production and/or quality for the next three weeks to determine whether employees are using the system correctly. If not, the employees are given feedback, either by verbal correction or additional training. Then, after that period, employees are not as often monitored or corrected by superior staff. This is because adults do not require %100, feedback. Reduced feedback along with practice or other active components can produce the same results. For children, the frequency of feedback is much more intense due to children’s cognitive processing capabilities. The children involved in the research previously mentioned are between the ages of 8 to 14. According to Piaget’s Stages of Development, a child within these ages is within the concrete operational stage, which explains why feedback is important for children this age. It’s because children are at a stage where they are capable of thinking logically- associating action with a reaction. Hence, feedback is frequently used in many ways for their benefit. For example, children receive report cards and progressive reports from school; rewards for good behavior and grades. Children also receive feedback from their peers and adults (good or bad). For instance, if a child is a disruptive student in class and other students laugh or encourage the behavior, then the behavior will more likely continue. However, if the teacher provides corrective feedback to redirect the behavior and maintain appropriate behavior in the classroom, then the child can associate the teacher’s feedback with his/her actions. Feedback also may spark motivation for academic achievement, which teachers or parents may use to encourage children with rewards, such as money or privileges. Summary Feedback is a very important factor in any situation. The way feedback is given will directly impact the outcome of the situation. Ineffective feedback can leave the receiver feeling inadequate and diminish the receiver’s self-esteem. Surprisingly, the least effective methods are the ones most commonly used (Whitmore, 2010, p. 125). On the contrary, effective feedback will empower the receiver and allow learning and critical thinking to take place (Whitmore, 2010, p. 124). Not only will the receiver benefit; the person giving the feedback will benefit also. When someone learns to give effective feedback, that person becomes an effective leader and is able to guide others into their full potential. Giving and receiving feedback is a very strong; necessary tool in any situation. Reference Grimme, D., & Grimme, S. (2009). The New Manager’s Tool Kit. New York:American Management Association. Huether, Katherine. â€Å"The Benefits of Constructive Feedback.† Helium. Helium, 02 Sept. 2007. Web. 01 Feb. 2013 Moore, Krista. The Importance, Benefits and Fundamentals of Providing Feedback in Sales.† The Importance, Benefits and Fundamentals of Providing Feedback in Sales. N.p., n.d. Web. 01 Feb. 2013. Sullivan, K., Kantak, S., & Burtner, P. (2008). Motor learning in children: feedback effects on skill acquisition. Physical Therapy, 88(6), 720-732. doi:http://dx.doi.org/10.2522/ptj.20070196 Wardy, Joseph. â€Å"The Benefits of Constructive Feedback.† Helium. Helium, 27 Jan. 2010. Web. 01 Feb. 2013 Whitmore, J. (2010). Coaching for Performance 4th Edition. Boston: Nicholas Brealey.

Ethical Considerations for Testing, Retesting, and Make-up Examinations Essay

In most structure in the social system, the concept of giving a second or another chance is widely dominant as applied in lined with different perspective and aim. Most people resort to this approach as their mean of developing their own approach for a better result and more benefit on their part. As an actual example, in the business world, some professional resort to rescheduling of their meetings and presentation because they are not well-prepared or they wish to do something for the betterment of the said meeting. This is mainly ethical and permissible if applied appropriately without resulting to another loss or on the other party. This adjustment is delegated and approved first by both parties involved before applied in the time table. On other fields and industry, retesting also becomes a common system which is applied as inclined to the best interest and result for the involved party. Some companies or organizations appropriately adjust their time table and even repeat some of their procedure as influenced by the realization of better results. Indeed, there are many scenarios in the actual world wherein the approach of adjusting the time schedule is applicable and ethically appropriate based on the nature of the involved event. However, a certain conflict of ethical perspective occurs in the practice of this approach in the learning structure particularly in the educational system. It is common in the curricular system to schedule examinations and testing exercises to determine the learning development of the student and to evaluate their performance on the academic level. However, most student deal with these exercises as mere basis of the institution’s grading system which will influence their future academic performance and their personal capacity. Thus, to achieve better result for their testing exercises, some students resort to using or even abusing the schedule adjustment system for the purpose of gaining better results and advantage for their personal interest. The adjustment of time schedule for examination or retesting is commonly based on the ideal nature of the involved scenario wherein the student might have or will likely missed the duly acknowledged period because of some plausible reasons. This include being physical incapacitated due to sickness or injury, family problems or certain situation wherein the presence of the student is direly needed by his or her family, and others unexpected circumstances which are considered valid excuses to exempt the said student from the said predetermined schedule. However, utilizing false excuses or invalid reasoning to be excuse from the scheduled period because he or she is unprepared, negligent and other unethical circumstance are indeed a form of abuse of this system. This is mainly unethical due to the fact that it creates a certain bias and inequality in the social perspective wherein the student population must take the examination on the schedule dates wherein they are likely risking their interest while other become excused and given extended period to prepare for better result. This approach is indeed unfair in the entire field as the excused student/s will gain more advantage in terms of allotted time for preparation compare to the entire student population. On this ethical conflict, two sides must be critical viewed and considered namely the side of the student population and the side of the isolated student/s excused for rescheduling. For the former, they are given a fixed schedule with an allotted period for them to prepare and for the said exercise. On the said period, they must take the test whether best prepared or not thus, likely risking their interest of getting good marks. The latter on the other hand have also given the same allotted period the same as others however, rescheduling their testing date later will give them more advantage for preparation. Considering this linear view only will already reflect a bias interest on the situation however, an ethical answer will also determine the logicality of the predicament. Thus, it is important in this situation to consider two things in deciding the approach towards addressing the problem namely critically consider the reason behind rescheduling and equal view towards the interest of the entire population. The reason behind each circumstance duly determines its validity and the ethical background of the circumstance. This factor is also important in determining whether the task of rescheduling is indeed logical and ethical depending on the involved nature and elements of the scenario. The facilitator or teacher involved must critically analyze the reason and evidences involved whether they are valid as basis to exempt the particular student for the testing schedule. Thus, to negate the bias nature involved in the said scenario, a plausible and ethically valid reason must given to support the exemption and the allotment of extension for the involved student. Through which, the interest of all involved parties will be equally given and addressed in the involved situation resulting to a fair and just implementation of teacher’s authority over his or her students and the ethical adherence to the primary rules and regulation of the academic institution.

Psychology Post Labor Day

This Sync drone results in anxiety, lack of motivation, difficulty concentrating and a feeling of e emptiness during the first few weeks of returning to work. There is a lot of factual inform action that is used to back up this idea. Most of the research is professionally studied and scientifically proved. However, some evidence is stronger than others. This article provides a lot of evidence. This article is mostly scientific because almost all of the information comes from professional doctors, journals, or SST dies.For example, a study of 96 Dutch workers â€Å"found that health and wellbeing return De to pre vacation levels during the first week back at work. † This was conducted by pro fissionable and published in the journal Work and Stress. The article also states information on and then tells the readers where that information came from, weather it was a jog renal or a person. For example, after the article explains to be alert for symptoms of Pos t Vacation Syndrome, it refers to its source, â€Å"†¦ Says Katherine Mueller, assistant director o f the Center for Integrative Psychotherapy in Allentown, P. † The article gives a thou rough description of who the person is. Her occupation/ position and her location. Some evidence is slightly stronger scientifically than others because of its accuracy. Not all the people who are mentioned in this article are 100% correct but they are not war Eng either. Some evidence gives a more accurate description than others. For example, † An estimated 6% of the U. S. Population suffers from SAD† (Seasonal Affective Dies order) This piece of evidence gives a numerical value which makes it more accurate than the statements above.Most evidence in this article is factual however there are some opinions. Facts are pieces Of information that are scientifically proven while opinions are the way someone thinks and their viewpoint on a topic. For example, Emily Clicking has an opinion on children' s' and adults' mindsets on going back to school. ‘†General Y, kids can't wait to go back to school. For parents, that means months of purchasing , planning, nagging, chauffeuring, chaperoning and negotiating. † This is an opinion because SE it is not true for all children and parents to view going back to school that way.That SST atonement reflects more on Clinician's point of view than on scientifically proven facts. If Clicking would have mentioned a percentage of how many kids are excited to go back to school and how many parents are not excited for the school year to begin, it would b e a more reliable source. Findings in this article are trustworthy because it uses a lot of sources such as different people and different studies in different journals. This create s an unbiased argument.

Causes Of The French Revolution Essay Example for Free (#2)

Causes Of The French Revolution Essay On July 14, 1789 a large mob stormed the Bastille, and killed the commander and some other soldiers. The fall of the Bastille marked the beginning of the French Revolution, and was a symbol to the people of France representing years of abuse by the monarchy. Also, this event served as a wake-up call to King Louis XVI. Unlike any other short protest or riot, this event actually challenge to the regime. As the French Revolution progressed, French society underwent a transformation as feudal, religious, and aristocratic privileges disappeared and the ancien rà ©gime were abruptly overthrown under the fundamental principle of â€Å"Libertà ©, à ©galità ©, fraternità ©Ã¢â‚¬ . Although there are many causes to the French Revolution, the three main ones are: the mismanagement of the economy, the pressure of taxes placed primarily onto the third estate, and the spark from Enlightenment ideas and the American Revolution. These events set a fire in France that could no longer be contained. It spread through France like a wildfire. The first cause to the French Revolution was the mismanagement of the economy. Louis XIV had left France deeply in debt with his extravagant spending. France’s Involvement in the Seven Years’ War and American Revolution put it deeper down the hole. Costs had generally risen during the 1700’s and the lavish court soaked up millions. The government borrowed more and more money to bridge the gap between income and expenses. Years of deficit spending, or spending more than the income, was taking its toll on the country’s treasury. By 1789, half of the country’s income from taxes went to paying the interest on this debt. Louis XVI was forced to raise taxes to pay back the debts, leading to further tension and revolt. The first cause to the French Revolution was the pressure that taxes placed onto the Third Estate, or anyone that wasn’t nobility or clergy. This included the wealthier middle class, or bourgeoisie, and the extremely poor working clas s and rural farmers. While the poor suffered from the agonizing taxes, the rich nobility and clergy didn’t suffer these taxes because of tradition which granted the nobles and clergy freedom from paying taxes. The political crisis of 1789 coincided with the worst famine in memory, and as taxes rose, tension rose. When taxing the First and Second Estates was proposed by the king’s advisor, Jacques Necker, the nobles and high clergy resisted the  attempt to end their exemption from taxes and forced the king to dismiss him. As the crisis deepened, the pressure for reform grew. The wealthy class demanded, however, that the king summon the Estates-General, the legislative body consisting of representatives of the three estates, before making any changes. This event later backfired on the wealthy with the creation of the National Assembly which established many reforms. The last reason to the French Revolution was the spark of Enlightenment ideas and the American Revolution. This spark set fire to the French Revolution and roared across the country. Many people believed in the ideas of â€Å"equality† and â€Å"freedom of the individual† as presented Voltaire, Rousseau, Diderot and other philosophers and social theorists of the Enlightenment. They especially favored John Locke’s idea that if a government violates the people’s natural rights, the people have the right to replace that government. These ideas of life, liberty, and equality had contributed to the creation of the American Revolution and the newly formed American government served as a live example of the proper structure of government. They helped with the creation of new reforms to make life in France better. On July 14, 1789 a large mob stormed the Bastille and began started the French Revolution. The causes of this event were the mismanagement of the economy by the king, the resulting tax pressure placed onto the poor Third Estate, and the spark of Enlightenment and American Revolution reasoning. The French Revolution had accomplished its desired goal of more equal government and it still has an impact on the world. Till this day, the French celebrate Bastille Day as their national independence day. Causes Of The French Revolution. (2016, Aug 31).

Psychological Disorders Essay Example | Topics and Well Written Essays - 250 words

Psychological Disorders - Essay Example Michael starts to suspect David after some events and the suspicion grows stronger when he quits his job only because he was asked to show his identity card. Michael heirs an investigator to conduct deep search on this but David finds this out and kills her. Michael then with the help of his girlfriend goes to the basement to check out the lockers his stepfather had made and finds the dead body of his father. David also wakes up and traps him in the basement; in this commotion Susan wakes up and becomes shocked. Michael manages to come out and finds his mother and girlfriend but again gets tapped by David and then fights him and both of them falls of the roof to the ground and becomes unconscious. He wakes up a month later and finds out that David is still alive. In the end he is again shown getting involved with some other family (The stepfather, 2010) David was habitual of keeping everything clean and perfectly set and most of the time he used to spend time keeping everything perfect and whatever he did he wanted it to be perfect and in order and it is a symptom that the patient performs repetitive tasks (Menzies, De, 2003). It is also a symptom that the patient changes his name and personality and in this film David exhibited this symptom as well. David never tried to consult any doctor or any professional to get rid of this illness. In the film it is not shown the reason of how David got this illness. Therapies like behavioral therapy is the most effective method to make the patient get rid of this disorder (Giddens,

Behavioural Finance and the Efficiency of Capital Markets Essay

Behavioural Finance and the Efficiency of Capital Markets - Essay Example All the literature on market efficiency defines an efficient market as one where prices reflect all available information and sellers cannot earn windfall profits in a sustained manner (Fama, 1970). Large profits can be earned only by having inside information that is not publicly known and trading based on such information, or through misinformation; both are illegal. In an efficient market, assuming all companies disclose information to investors, only those who enter the market first may earn above average returns. Just like any other market, the one who arrives first can buy at a lower price and then, as demand goes up, sell at a higher price. This logic that consistently beating the market is not possible led to the creation of index funds that mimic the market's performance. Nevertheless, small investors unaware of these academic and empirical discussions continue to try to beat the market, only to incur expenses on fees and commissions. Behavioural finance proponents think that market-beating strategies exist and that a careful analysis of historical price trends and financial reports can pay off (Shiller, 1990). They point to stock market anomalies and other forms of market inefficiencies that allow investors to reap above average returns. He claims that conclu... Nevertheless, small investors unaware of these academic and empirical discussions continue to try to beat the market, only to incur expenses on fees and commissions. Behavioural finance proponents think that market-beating strategies exist and that a careful analysis of historical price trends and financial reports can pay off (Shiller, 1990). They point to stock market anomalies and other forms of market inefficiencies that allow investors to reap above average returns. So going back to our question: are markets efficient Fama (1998) thinks it is and that it continues to be so as proven by empirical studies (Fama and French 1992, 1993, 1996 and Malkiel, 1995). He claims that conclusions based on market anomalies discovered by behavioural finance are due to poorly done statistical work (1998, pp. 292-294) and amateurish techniques (1998, p. 296). He cited (1998, pp. 288-290) above average returns as the result of chance, that behavioural finance models are loaded with judgmental biases making it predictably easy to justify any hypothesis proposed, and that the efficient market hypothesis can explain all forms of market behaviour to date. Behavioural finance supporters Barberis, Shleifer and Vishny (1998) claim that an ongoing battle between rational and irrational traders exists in the market, with the irrational ones dominating. The systematic errors that irrational investors make when they use public information to form expectations of future cash flows overwhelm the efforts of rational traders to undo the former's market dislocating effects. Daniel, Hirshleifer, and Subrahmanyam (1998) state that irrational traders' overconfidence in interpreting

Humanities Paper Ella Minnow Pea Essay Example | Topics and Well Written Essays - 250 words

Humanities Paper Ella Minnow Pea - Essay Example Again, Orwell and Dunn speak about cruelty of a government in totalitarian country, so ban here comes from up-high authority. But nowadays we see a tendency of shorting words inside one language and high level of linguistic borrowing one culture from another not only because one culture influences and subdues another, but also because in one culture there’s more handy word to name a particular thing. Then borrowing’s reasonable and comes from people (usually from Internet), and globalization helps in making borrowed word popular. If language change comes from people, not from rulers, we don’t think it’s a sign of enslaving. People seem to have a silent agreement to make native languages more common, more like each other to simplify process of communication and understanding. How it can be a bad thing? Also, everything now is on a way of simplifying, and such changes come from all people’s silent agreement. We’re not forced to it, we will it. So can tendency be considered positive or negative depending on where it comes from, if it’s still the same tendency? If changes come from us we think that’s normal; the same change comes from government and we think it’s silly and brutal. But in fact, there’s just a tendency of simplifying things. And language, of course, is an important thing, but still just a part of a general