Tuesday, April 30, 2019

Company Analysis for Yahoo Research Paper Example | Topics and Well Written Essays - 3500 words

Company epitome for chawbacon - Research Paper ExampleBasically, Yahoo was only accessible by the two design students but because they had created a web interface that had allowed other throng to access to their guide and because of appargonnt knowledge of Yahoo and its existence in lieu of the word of mouth and electronic mail, more people began utilize their web site and because of Yahoos strong as well as positive impact to the people and the hunting lodge amicably,Yahoo has a complex environment. Due to this complexity, the department is hearing all the factors that affect its task environments. Some factors such(prenominal) as political-legal and economic climates are encouraging to the harvest-feast of the department. However, the sociocultural climate is posing a challenge. Nevertheless, Yahoo is generally having a stable environment.The political-legal climate of corporations globally has been generally encouraging. This is especially for yahoo in which it reciproca tes the governments religious belief on the company by sharing 30 percent of its shares to the government. Likewise, the economic climate globally has seen the growth of systems of wealth issue, distribution and consumption. However, inflations and recessions affect the operation of Yahoo. These are the factors over which we have little control. The sociocultural climate represents the attitudes, values, norms, beliefs, behaviours and associated demographic characteristics of the population within which an organisation operates (Daft 1997, p. 78). In operating and managing Yahoo applications that support users, we have to consider our customers values and beliefs. To do this we conduct studies to identify the concerns of our customers. The technological climate includes scientific and technological advancements in the production of goods and services (Dahlgren and Whitehead, 1991). Technology for Yahoo is of particular importance because it has been and continues to be the main so urce of increases in productivity, which meaning it can either provide a competitive advantage to organisations that can use it effectively, or rile a threat to those that lack it. To remain competitive therefore, it is important that we need to understand current applied science developments affecting their ability to offer desirable products and services. The pace of change in that industry, of course, is accelerating, and its scope and impact are widening. Spectators of the technology can trace that change from the earliest antecedents of Yahoo, to the most recent developments. Spectators can also stare the entire Yahoo continuum from the 19th century to the 21st or pinpoint, year by year or decade by decade, but the focus of this paper will only be from 1998 to 2003. These are the geezerhood and key events that have led to the Yahoo of today and it has shown through the use of the companys corporate strategy.It is said that people are living through an era in which organiza tions

Monday, April 29, 2019

Land law Essay Example | Topics and Well Written Essays - 1250 words - 1

Land law - Essay ExampleIn the current case, Stone verbalism Limited is not bound by any powder compact that Steve undertook with Joan. Moreover, a stipulation can totally take effect and be respected if the advantage of the covenant comes to the party bearing the burden of the covenant. infra Austerberry v Oldham Corporation2, any agreement between the covenantor and the covenantee only(prenominal) holds between the original parties and not between successors unless much(prenominal) stipulations are mentioned in the covenant such stipulations are passed onto successors with their full knowledge and acceptance. Hence, the burden of a covenant does not pass to the successor through title at common law. The burden can only be passed under truth if the covenant is negative in effect covenant profits the covenantees vote out the burden of the covenant was designed by the original parties to run with the land3 the succeeding party was provided placard of the covenant at purchas e. Given the ruling under Tulk v Moxhay4, it is clear that Hans cannot be provided avail under justice either since the covenant was not designed to run with the land and the successor, Stone Construction Limited, had not notice of the covenant. However, the burden of a restrictive covenant passes to the successor in title only under righteousness but not under law. In the current situation, Hans tends to be affected more by equity based rules rather than lease based rules. Under common law, Hans cannot be provided benefit of the covenant since he was not a party to the original contract. Acting in Hans favour using a contract law position would signal a disregard for common law so Hans cannot be prone advantage. Alternatively, Hans could have been provided some benefit under Section 56(1) of the Land and Property Act (LPA)5 if he were named and draw under the original covenant. However, this is not the case since Joan, the covenantee, had failed to describe or name Hans with the original covenantor Steve. On other note, Hans whitethorn receive some relief under Section 1 of the Contract (Rights of Third Parties) Act6 since Hans stands to benefit from the covenant along with other future land owners. In order to analyse the burden and the benefit of the covenant, it is pertinent to consider equitable rules. The benefit of the covenant could only pass in equity if benefit of the covenant was attached to Joans land benefit of the covenant was moved through express announcement of Joan to the successor in title Hans the concerned land was part of a development scheme7. Alternatively, under the conclusion for P&A Swift Investments v Combined English Stores Group PLC8, it was provided that a covenant may pass at common law in case that the covenant concerns the dominant land so as to benefit any successors and the covenantee personally. However, under the judgement provided under Smith and Snipes Hall Farm Ltd v River Douglas Catchment Board9 using Section 78 of the LPA, it would be necessary to provide or prove that Hans land is shamed by the actions of Stone Constructio

Sunday, April 28, 2019

Media Response Essay Example | Topics and Well Written Essays - 500 words

Media Response - Essay ExampleReality check, they too are humans. Thus the mankind has to start treating them equ everyy. In a contest they too can lose I mean do they always occupy to win?Amazingly, Asians are considered superheroes. But yet are they? Based on the unretentive film by Chris Tashima and Tom Donaldson, about Sempo Sugiwara, who risked his live going against the most powerful institution in a country- The Government, just to save people he had no blood relations with. Hero or no hero its the perfect show of humanity.A war is not only fought apply guns and swords alone, the brevity displayed in the film the Lil Tokyo Presenter shows how a single individual can serve law his tool of war and use it to liberate his people (the Japanese) from the chaining bonds of the American law. I find this elicit as all the efforts bore fruits much greater than he anticipated.In the modern world, Asian Americans have been integrated in the society. They are rarely segregated as the y can walk the talk in a whole different way than anyone expects The best part is that they always stick together. My friend told a joking story when an Asian guy broke up with his American girlfriend only to vacate up with an Asian American girl. This got me thinking how Asians stick and stay together like a deport of wolves Harm one face all thats their motto I presume.Asian Americans embrace all cultures but mostly cling to the Asian side a bit more. Anyway who can condemn them? Asian culture is diverse and unique. From the food and spices all the way to martial arts there is a lot to share and discover. Personally is more into their fashion and mode of dressing. Their taste is just unarguable.As in the film Model Minority, we see that Asian Americans are depicted as going through struggles in the 21st century. The new generation of Asian Americans is faced with family drama such as parents forcing their kids to do demanding subjects such as science or math. This has in turn led to the kids rebelling and dropping out

Saturday, April 27, 2019

Prices of Palladium Metal Assignment Example | Topics and Well Written Essays - 1000 words

Prices of Palladium Metal - ap plosive speech soundee ExampleThe plat given below explains the phenomena D D S P1 P2 D D The diagram exhibits that when selection metals are found to be usable in manufacture of automobile converters, then atomic number 78 and titanium are no longer needed for use in automobile converters (Sharma, 2009). Hence, there is a consequent movement in the kernel demand curve for automobile converters, shown with the movement of curve DD to DD. The shift in aggregate demand curve shows there is lesser inclination of buyers of platinum and si buyers to purchase these metals at a given price level (Agarwal, 2007). The shift in aggregate demand curve alters the equilibrium point at which aggregate demand curve DD intersects with aggregate planning curve SS (Mendes, 2011). It is important to note that the supplement curve remain unchanged because suppliers are willing to supply Platinum and Titanium metals at the same price and quantity as before. The new equilibrium point corresponds to a lower price of the metals and reduced quantity of metal being traded in the market place (Baurnol, 2011). The walkover of some(prenominal) demand and supply curve is taken as being unit elastic because both suppliers and buyers have election materials available. Hence, at the new equilibrium point both price and quantity consumed of the ii metals is lower than it was before. The realize outcome is a fall in both prices and quantity consumed of the twain materials. ii) The to a higher place mentioned change took place merely due to the reduced demand for the natural metal in the market. However, other effect takes place in the market after the news of alternative metals become public (Henderson, 2003). The wink effect is termed as speculation effect. The speculators in the metal market either maintain a physical stock in their possession or futures contracts of these metals with the hope of selling these metals at a profit. When the news o f alternative metals becomes public, these speculators will try to rid themselves of their possession of metal immediately. Their attempt would be motivated by the animate to go out of market before market goes down to a very low level. D S S P1 P2 This second effect of the decisions of these speculators will change the supply in the market of the alternative metals. There is going to be a short-term increase in the supply of Platinum and Titanium due to unloading effect of speculators. This movement is depicted the diagram above with the rightwards movement of the supply curve. The net effect of this movement is a further decrease in the price of the commodity in the market (Fisher, 2007). However, the effect of reduced quantity consumed will be partly compensated by a partly increase in consumption. Those manufacturers which used to find Titanium and Platinum as too costly would nowadays be able to afford these metals in manufacture of automobile converters. Therefore, the net effect of the above two phenomena in the market for precious metals would be a significant decrease in the prices of the metals (which could certainly be referred to as a market crash) and a partly decrease in consumption of Titanium and Platinum. Impact on the Market for Nissan and Mazda The impact of technological breakthrough will also be matte on the market for automobiles as well. In this section, the impact on the market demand and prices of both Mazda and Nissan is discussed. The vivid

Friday, April 26, 2019

Marketing Communication Research Paper Example | Topics and Well Written Essays - 750 words

Marketing Communication - Research physical composition ExampleOn the other hand, marketers have also realised the benefits brought about by the use of a combined sources of parley in their merchandising endeavours which is widely known as integrated selling communication plan (IMC) and this concept has signifi finishtly gained prominence during the current period (Kotler & Armstrong, 2004 ). As such, this essay seeks to pronounce the finis to which orchard apple tree Company effectively uses an integrated marketing communication plan. Explanation of IMC In order to mensurate the extent to which Apple utilises an integrated marketing communication plan in its operations, it is imperative to begin by defining the concept in order to get a clear understanding of its meaning. An integrated marketing communication plan is described as a concept of marketing communication planning that seeks to evaluate the strategic roles of a variety of communication disciplines such as advertisin g, personal selling, sales promotion, direct marketing and public dealings, (Cant, 2000 p.285). The mastermind is to coordinate the messages so that they convey the same thing at the same beat to the same audience. Duplessis (2005) also posits to the effect that a company integrates or coordinates the use of these communication channels in order to give a clear and consistent message that is compelling to the customers about the products offered which also reinforces the soma of the organisation. Integrated marketing communication strategy by Apple According to Buch (2010), Apple has adopted an iAd programme which is a strategy that is meant to support advertising within the iPhone fraternity. This platform integrates the use of the other applications on the iPhone at the same time and the strategy is good in that it enables the company to market its products to various users who can comfort enjoy the benefit of the other applications at the same time. Though this strategy has been criticised by other sectors of the society, it can be seen that it is very effective in as far as advertising of the products offered by Apple is concerned. The idea behind this strategy is to coordinate advertising with the other applications that can be found on the iPhone with the aim of achieving the intended objectives of remaining the leader in the iPhone and tablet industry by the company. Since 2010, it can be noted that Apple has continued to enjoy high volumes of revenue from the sale of iPhones regardless of the prohibit impacts in the economy that prevailed. Promotion of the products offered particularly the iPhones significantly contributed to the success of the company in its endeavour to waive negative impacts that were likely to impact on its operations. For instance, the company made efforts to spell the unique features of its products and these appealed to the interests of the customers. Promotional efforts such as the decrease in price of products such as t he iPod in 2010 greatly contributed to high levels of customer rejoicing (AAPL, 2012). Other companies found it difficult to imitate and Apple harnessed this strategy in its IMC strategy with the aim of appealing to the interests of the customers. Apples operations were significantly impacted by various public relations crises in 2008. Despite being on top in terms of innovations in technology, Apple Inc was naughtily criticised by

Thursday, April 25, 2019

Analyzing Falculty Characteristics in Adult Learning Essay

Analyzing Falculty Characteristics in Adult Learning - Essay ExampleThis paper is an examination of the various peculiaritys in which a faculty member responsible for teaching grownups must soak up, in order to be an impelling teacher. This is for both an online and on-ground teaching and learning environment. This paper will specifically identify these characteristics, and use examples in sustenance the various facts identify. Palis and Quiros (2014) denotes that a variety of models and theories are developed for purposes of explaining this concept of adult learning. One such scheme is andragogy, and this theory was developed by Malcolm Knowles in the year 1973 (Fraser and Hyland-Russell, 2011). In meeting the objectives of this paper, the researcher will have to identify the characteristic of an online learner, as well as identify a desirable characteristic of a faculty member aimed at satisfying the needs of the adult learner, based on his or her identified characteristic.And ragogy is a theory designed for purposes of addressing the learning needs of adults, and it bases its assumptions that there is a considerable difference in the learning characteristics depicted between adults, and children (Palis and Quiros, 2014). To say the various characteristics needed for adult teachers, it is first important to understand the needs of adult learners, and their characteristics. Knowles, Holton and Swanson (2011) in his theory of andragogy identifies five major assumptions and characteristics of adult learners. One characteristic of an adult learner is that they have the ability of independently directing his own learning. Knowles, Holton and Swanson (2011) denote that adult learners are continuously self-reliant, autonomous, and independent. On this basis, they always have a self-directed goal that they aim to achieve. Based on this characteristic of adults, Fraser and Hyland-Russell (2011) denotes that an online teacher has to act as a facilitator, and thei r responsibility should be to guide the adult

Wednesday, April 24, 2019

Effects of Quality Management on Domestic and Global Competition Paper Research

Effects of character reference Man daysment on Domestic and Global Competition - Research Paper ExampleAs it is express in their website, the passengers of Southwest Airlines must possess federal government-issued picture identification an exception is given to nation under the age 18 (Southwest.com). The South west Airlines has designed special provision for the customers who are age 65 and older. Similarly, they have arranged high tech facilities for the issue of boarding passes. The customers can receive boarding passes from the Skycap Counter (situated in selected locations) and check luggage four hours prior to the scheduled departure (Lufthansa). The Airport comer chart helps passengers to check the time of flights. The boarding passes are categorized into several groups as A, B, and C on the basis of the fare they purchased. Likewise, extreme facilities are offered to kids and disable persons. In the case of Lufthansa, they have been using ultra modern technologies in ord er to provide maximum conveniences to customers. Their checking-in frame is based on the cover of check-in machine. In order to take advantage of the system, passengers are required to possess an electronic ticket. This system is effectively employed in various other procedures also such as baggage checking and notch registration.

World War II Essay Example | Topics and Well Written Essays - 500 words - 1

World War II - Essay Example unhomogeneous films have portrayed the subject of World War II in various formats. The world contend films have been made with varying themes like war crimes, nuclear holocaust, refugee problems, technology innovations etc. But I have found The Great Escape as one of the most interesting films made on WWII. It was made in 1963 and directed by John Sturges. The film is exemplary in its portrayal of clement mind that is capable of giving man the inner strength to creatively evolve strategies to defeat enemies in their own ground. The film is all about prisoners of war of Allied forces who are captured by German army. It is a true story which tells how group of POWs tried to escape to freedom from captivity in jail which was supposed(p) to be escape free The film has treated the serious issue of war from a valet angle which is unique. It has sensitively depicted the frustrations of inmates, the inhuman conditions of captivity and optimism of the prisoner s who continue to seek new ways to prepare their way. The major strength of the movie was that prisoners from Allied force coming from different nationality were united in their prevalent cause. They worked together and used their wit and cunning to divert the attention of security so that at least(prenominal) one of them can become free.

Tuesday, April 23, 2019

Name three ideas embraced by the Futurists and relate those three Essay

Name three ideas embraced by the Futurists and relate those three ideas to a particular work of art - Essay ExampleDynamism of a cyclist by Umberto Boccioni is a masterpiece of futurist art in its true sense. While the pictorial matter projects a collage of images that basically conjure the image of a cyclist in motion thereby not rendering any clear format other than that of some definite geometrical shapes as well as colours. Obviously very much futurist by nature, Dynamism of a wheel horse as a piece of art lives up to all the major features of futurist art.The cyclist in motion represents the essence of future by exhibiting motion which in turn depicts progress. However, since the work is an attempt to mesmerise a moving cyclist, the picture so formed is hazy and what viewers can make taboo are the definite geometric shapes, something that is quintessential to cubism (Janson & Janson, 2004). Obviously the feature of industrialization becomes apparent from the artists give of the cycle, an obvious machine and product of industrialization.The feature of divisionism is also extant is the dynamism of a cyclist. The respite of light and colour down to dots and stripes is what the painting primarily consists of, apart from cubist overtones. Thus a progressive theme has been depicted through geometric patterns as well as deft use of light and shades in dynamism of a cyclist thereby abiding by the tip features of

Monday, April 22, 2019

Research Project Paper Example | Topics and Well Written Essays - 2250 words

Project - interrogation Paper ExampleSome of the most renowned products are Johnsons baby products, facial dull clean and clear, Tylenol medications, Acurve contact lenses, as well as Neutrogena skin and beauty products etc. The caller-out is planning to increase its market share and achieve the desired goals for that matter, Johnson & Johnson analyzes its human resource management practices and policies in order to see which integral parts are performing well and what further improvements are required. This report card audits the human resource management of Johnson and Johnson. HR Program aspects that seem to be performing well Employee various(a) workforce Johnson & Johnson has workforce from all parts of the world, speaking different languages, sharing different faith, religion, knowledge visions, customs and culture. This workforce is more than 115,000 employees who share different academic and educational qualification as well. The educational play down varies from low l evel worker to highly qualified PhD scientists. (Foster and Kaplan, 2001, p.232) Johnson & Johnson credo being the precipitating factor for brisk managing of this workforce and is also a reason behind its success. The workforce may differ in value and beliefs but the companys credo ethical values seem to bind them as whizz unit which leads Johnson & Johnson towards success as a single collective workforce unit. Policy towards force back laws and regulations Johnson & Johnson labor laws have these main agendas The minimum age to qualify for working at Johnson & Johnson is 16 and those who are 18 or under are not allowed to work more than 48 minutes in a week. talent proper rest to workers during work day and avoid maximum working hours for workers in order to fight down safety. Labor prison should be avoided in terms of bonded or forced manipulations of workers. Proper knowledge should be given to workers about the daily or hourly wages, if extra hours are required then, extra h our wages should be disclosed to worker before initiating work. Respects the rights of the workers and their decisions of association or not joining the organization. No discrimination in terms of gender, health, religion etc. Respect the right of workers to bargain in a collective manner without illegal or collective manner. Threats in terms of brutal and inner harassments should be avoided. The balancing work and family class Johnson & Johnson started to make efforts for creating a balance in work and family program after taking an inspiration from a credo survey, which revealed the deficiency in commitment of Johnson & Johnson towards work and family program. As a result, balancing work and family program was put to practice. Learning work convocation Learning services group was designed to assist operating units regarding workforce performance and towards the adaptability and adjustment of Johnson & Johnson culture. The main aim of this group is to offer quality management and help units to achieve quality and high standard products (Johnson & Johnson b). The live for conduct program The desire of Johnson & Johnson is to have strong and healthiest workers in the world leads toward the idea of live for life. The program nevertheless focuses on exercise, nutrition, stress control and non smoking assistance. Various programs were introduced which offered health and fitness awareness and issues related to health. (Johnson & Johnson a) readying and development with reference to the concept of i- lead In order to get the

Sunday, April 21, 2019

The topic is media ethical issues but it has to be by exploring the Essay

The topic is media h acest issues but it has to be by exploring the ethical issues involved by an example giving (see instructi - Essay ExampleThis paper explores the ethical issues involved in the case study and highlights arguments for and against the parents request to the bourgeoners wife to stop circulating the photograph of their deceased child in light of the teological and the deontological theory of ethics. Ethical Issues Involved In light of the teological theory of ethics Positive outcome Circulation of the photograph is creating awareness in the public regarding the negative ways in which the chemic persistence is affecting the health and safety of children. As a give of this increased awareness, chemical industries sheath increased pressure both from the government agencies and the society at large to change its practices for the better so that they are surround friendly and not a threat to the health of the children. Therefore, the photographers wife should ho ld out the circulation of the photograph. The farther it reaches, the more beneficial it gets. Negative outcome Circulation of the photograph might be a cause of pain and suffering for the parents as it reminds them of their dead daughter. Therefore, it is unethical for the photographers wife to continue circulating the photograph. ... s Although the girl was affected by mercury pollution created by the chemical industry in Japan, yet the chemical industries of the whole world are suffering as a result of use of the photograph as an iconic image against the pollution created by the wrongful advancements of the chemical industries. umpteen chemical industries may be subject to criticism and scrutiny and undue investigation and accountability unnecessarily when they did not play a role in the childs disease or death. This imparts the gather up for the photographers wife to ensure that the photograph is used for specific purposes only to indicate the set up of chemical pollution in Japan rather than letting the photograph go viral. However, since she has already failed in that and the geographical limitations open not been respected in this case, it is unethical for her not to control the circulation of the photograph since she is the one who holds copyright of the photograph. Arguments for the parents request Change of circumstances with time Argument supporting the parents request is that circumstances have changed since the time the photograph was taken. When the parents had signed the release of the photograph, the child was alive. They might have thought that release of the photograph would create awareness among the public about the adverse impact of the chemical industrys environment unfriendly practices on the health and safety of children. However, since the child is now dead, it might be a real painful experience for the parents to be constantly reminded about their child, her death, or the cause of her death whenever they come crosswise the photog raph. Religious concerns of the parents Another argument in favor of the parents request is that they might have religious reasons for facelift

Saturday, April 20, 2019

Evaluate the advantages and disadvantages of technological change for Essay

Evaluate the advantages and disadvantages of technological change for stemma - evidence ExampleThe advantages of modern technology like time and money savings are traditional reasons for business entities as they make decisions in implementing new technology in the workplace (Jones, 2011). The nature of capitalism in the economy where there is a need to maximize profit would generally motivates business entities towards that direction (Brigham, & Ehrhardt, 2010 caravan inn & Jain, 2007). It is not hard to see the savings in money and resources accomplished by automating some break-dance of the business operations. The market is also a product of innovation and people or customers would always go for those advertised benefit of new products arising from new technology. These business decisions are however not without negative consequences. all(prenominal) employee would get replaced by machines as a result of changing technology but this could actually be adding to the rising lev els of unemployment. This may be partly the dilemma that has actually affected the United States and the United Kingdom. To cod this kind of unemployment level of above 5% when these countries are supposed to be ahead in sparing development may be partly explained by the conflict by the need for companies to be lucrative or having more revenues than impairments which can actually be done by controlling the cost of labor. However the unemployment problem may actually be a greater problem in terms of consequences of the business decisions to go for more profit and more wealth for stockholders (Correia, et al 2007 Van Horne & Wachowicz, 2008).Who will taint the products produced by these companies if people who will consume them ultimately have no purchasing power because of overlook of employment to provide them means like income to empower them? This is therefore a case of profit maximisation that could be creating a greater social problem. Not all the technology that may prom ise to lower cost will be beneficial to business in the long-run. Will

Friday, April 19, 2019

The awareness of the physical abuse of the elderly in living Research Proposal

The awareness of the physical laugh at of the elderly in existing facilities - Research Proposal ExampleThe proposed report posits using quantitative survey research in a fixed design, which will bring new dimensions to the general discussion of preventing elder twist around.The awareness of the physical abuse of the elderly in living facilities is an important issue today, and is the subject of the proposed report. Abuse and neglect are also often visited upon older individuals who establish lost some degree of their independence, and many areas do not have the programs necessary to effectively counter this threat. There is even abuse and neglect that goes on with healthcare facilities, and this is perchance the most insidious sort of abuse. In some cultures, the elderly are prized and honored above every(prenominal) other citizens and groups, but unfortunately this is not the case in the present culture. Older individuals are to a greater extent likely to be seen as being in the way of the young than as role models who should be exalted because of their aged wisdom. Presently, however, many individuals are treated harshly by healthcare facilities and even their bear kin, making elder abuse a significant problem in society. Also, in terms of economic scales, older individuals who are of a lower socio-economic class are more likely to be handle or mistreated. These people may lack a stable caregiver.The proposed report will look into either aspects of abuse, including verbal, sexual, emotional, and financial abuse of the elderly however, physical abuse is the main consideration that the proposed report will counsel upon. somatic abuse is generally considered the most extreme form of elder maltreatment. Such physical abuse includes slapping, blunt force trauma, bites, pinching, traumatic alopecia, burns and scalds, force feeding, overmedication, undermedication, and improper medication, and improper use of physical restraints. Physical abuse account s for up to 14% of all elder trauma and

Thursday, April 18, 2019

Economics game theory paper Essay Example | Topics and Well Written Essays - 1250 words

Economics patch theory paper - Essay Example rationalness is the first basic assumption of consumer behaviour in microeconomic theory. The implication of rationality is that the consumers decisions be motivated by the pursuit of maximizing his/her own service program. In the context of long term health restitution, the rational consumers objective is to increase his utility over the long run by insuring against practical utility losses resulting from ailments. Therefore, if the consumer is rational, chthonian certainty, that is if the consumer knew the exact health contingencies that will occur, the purchase will be do only if the resulting long run utility of the purchase is (weakly) greater than the long run utility of the consumer if he/she does non make the purchase. However, what complicates the situation is that the occurrence of some event that causes damage to health is random and the consumer does not k now whether it will occur or not at the time of making the pu rchase. Therefore, the consumer can maximize only his/her expected utility through buying or not buying the insurance (Varian, 1997). We now turn to the other important assumption regarding the consumer that we shall abide by intelligence. The assumption of intelligence comes from nomenclature of game theory. Game theory is essentially a method of mathematically modeling situations of conflict or co-operation (Gibbons, 1992). able shams are players who have the capacity to infer anything about the game that we, the studiers of the game are. More precisely, the implication of the players be intelligent is that if we are able to infer that a given strategy is optimal for any peculiar(a) player subject to the strategy choice of the rival players, then each and every player of the game will be able to draw the same inference as well (Kreps, 1990). We shall assume that the consumer under consideration is both rational and intelligent. We model the given situation as that of a two pl ayer stage game. Player one is a rational and intelligent consumer and Player two is mystify Nature. To custody things simple we assume that there are two possible states of the world - casualty and no accident and which one is to be recognize is a decision made by Mother Nature. Suppose Mother Nature chooses the no-accident state with probability P and this probability is common knowledge. At the time of deciding on the purchase, Player 1 does not know whether he faces an accident or not. Suppose Player 1 earns X1 if the no accident state materializes and earns X2 if the accident state materializes, where X1 X2. Essentially we are assuming that the monetary repute of the consumers health to himself if there are no accidents is X1 and this reduces to X2 if there is an accident. Define U(X) as the consumers utility function with U 0 and U U (X1) U (X2). Now, to bring in the role of insurance in this setup, suppose that the consumer can purchase insurance against the accident state. Particularly, assume that if the consumer pays a premium K then a lump sum transfer of L is made to him if the accident state is realized in stage 2. Therefore, contemplating purchasing insurance can be rational only under the pursual condition U (X2) U (X2 +L-K). Mother Nature picks the state of the world. We assume her to be indifferent surrounded by the

Wednesday, April 17, 2019

Energy Transfer and Thermodynamics Essay Example | Topics and Well Written Essays - 2500 words

Energy Transfer and Thermodynamics - stress Examplermodynamicsis an expression of the universal law of increasingentropy, stating that the entropy of anisolated systemwhich is not inequilibriumwill tend to increase over time, approaching a maximum value at equilibrium. The second law expressed in terms of an entropy change is given as S 0 (universe).The Third law of Thermodynamics states that Every substance has a finite positive entropy, but at the absolute zero of temperature the entropy may become zero, and does so become in the case of a perfect crystallizingline substance.In a perfectly ordered crystal, every atom is in its straight-laced place in the crystal lattice. At T= 0 Kelvin, all molecules are in their low energy state. Such a configuration would have perfect order and since entropy is a prize of the disorder in a system, perfect order would result in an entropy of zero. Thus, the Third Law gives us an absolute reference point and enables us to assign values to S and not only if to S as we have been restricted to do with U, H, A, and G.The molecules of water that make up an ice crystal are held rigidly in place in the crystal lattice. When ice melts, the water molecules are light to move about with respect to one another and to tumble around. Thus, in liquid water the psyche water molecules are more randomly distributed than in the solid. The well-ordered solid structure is replaced by the practically more disordered liquid structure.3) Calculate S for the following reaction, using the information in a Table of Thermochemical Data, and state whether entropy increases (becomes more random) or decreases (becomes less random)? Based on entropy changes, do you predict a spontaneous reaction?A reaction that leads to a decrease in the subject of gaseous molecules generally leads to a DECREASE in entropy. The entropy change of this reaction is NEGATIVE because the triplet molecules of gas react to form one molecule of gas.In a Carnot cycle a system, as cylinder of gas, is setout of