Tuesday, May 19, 2020

Explore the Construction of Identiy in Hamlet and Beowulf

Thesis: Identity is constructed through the character’s change/realisation of social ideals and personal experiences throughout the text. â€Å"’Identity has been increasingly used to refer to the social and historical make-up of a person, personality as a construct. Sometimes such identities are conceived narrowly psychological, individualist terms, as the cumulative result of personal experience and family history† This is seen particularly in Beowulf where all men are referred to as their fathers’ sons’. Family history was massively important in those times and men well often well respected because of the heroic things their ancestors had done. Warriors also felt the need to reach the same level of notoriety. This is shown when we are†¦show more content†¦Beowulf establishes his identity as a warrior and a hero by recounting his successful endeavours: â€Å"They had seen me bolstered in the blood of enemies when I battled and bound five beasts, raided a troll-nest and in the night sea slaughtered sea-brutes. I have suffered extremes and avenged the Geats (their enemies brought it upon themselves, I devastated them).† Beowulf is a warrior more by reputation than what he actually does throughout the duration of the text. Although he defeats Grendel fairly quickly after being introduced to us, and after that Grendel’s mother, fifty years pass without much detail of Beowulf’s triumphs. The form of both texts has an impact on the identity of both Beowulf and Hamlet as individuals but also society as a whole in the two texts. Beowulf is an epic poem which are traditionally used to recount heroic acts and important events in history. This gives the text an authentic feel as well as reflecting the culture of the times in which Beowulf lived in; most stories were shared by word of mouth, often by song or poetry and not often documented. Men craved the notoriety and were willing to die in battle do achieve it. The unusualness of an epic poem also reflects complete difference of the world we live in where we not only have no warrior culture, people

Wednesday, May 6, 2020

Historical Perspectives of Abnormal Psychology - 1320 Words

Historical Perspectives of Abnormal Psychology Susan Hardin University of Phoenix Abnormal Psychology PSY/410 Krisit Lane, Ph.D. October 25, 2011 Historical Perspectives of Abnormal Psychology Historical perspectives of abnormal psychology sounds complicated, mainly due to the differing definitions, or interpretations, of what is considered abnormal. Identifying someone at work or in a social situation who appears to be behaving abnormally is easier to spot than it is to define the term abnormal behavior. No matter what the definition of abnormal the different perspectives each present a theory concerning its cause. This paper will provide a brief overview of the different perspectives and the theories presented by each.†¦show more content†¦Basically Erikson theorized that individuals pass through eight stages of development. Each stage of development involves two opposing powers, or contrary dispositions; Erikson named these opposing powers syntonic and dystonic. An individual, Erikson theorized, must successfully pass from one stage of development to the next in order to maintain a healthy balance. As an example, t he first stage of development lists the syntonic as trust vs. the dystonic of mistrust. An individual who does not successfully pass through stage on may develop a mistrust that lasts a lifetime. The unsuccessful mastery of any of the eight stages of development could cause an individual to develop abnormally, thereby demonstrating what society terms abnormal behavior. Biological/Medical The biological/medical perspective refers to a malfunction in the brain that is the primary cause for abnormal behavior. This malfunctioning of the brain could be due to the physical structure of the brain itself or abnormal biochemical functioning (Hansell Damour, 2008). The brain abnormalities could be either genetic or environmental. â€Å"†¦the biological perspective focuses on physical structures and biochemical functions in the body that contribute to abnormal behavior† (Hansell Damour, 2008, p. 36). As technology continues to advance the ability of researchers to understand the biologicalShow MoreRelatedHistorical Perspective of Abnormal Psychology1014 Words   |  4 Pagesï » ¿Running head: ABNORMAL PSYCHOLOGY Historical Perspective of Abnormal Psychology [Students Name] [Name and Section no of Course] [Instructors Name] [Date] Introduction Abnormal psychology can be defined as the study of mental disorders. It includes the topics and problems that are very common in our daily lives. 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In other words, those specializedRead MoreAbno rmal Psychology - Behaviour That Is Not Socially Acceptable962 Words   |  4 PagesLecture 1 What is Abnormal Psychology? Students’ Definitions and Examples of Abnormal Psychology Behaviour that is not socially acceptable Science of learning how biological changes affect personality behaviour Prolonged or repeated psychological state that is harmful to the individual or others Person with an illness, on medication, deviates from the norm Study of illnesses, mental disorders that the DSM-IV does not recognize as normal MythsRead MorePsychology : Psychopathology And Abnormal Behavior1827 Words   |  8 PagesPsychopathology and Abnormal Behavior Introduction The developments of psychopathology and abnormal behavior sciences have achieved significant progress. However, key issues that seek to determine various causes and presentations of psychopathology continue to emerge. Notably, the identification of a better model or perspective that explains psychopathology better than other models continue to elicit varied debates. The prevalence of psychopathology and abnormal behavior is explained by the psychodynamicRead MoreAccording To Erchul Martens (2012), The Earliest Consultation1202 Words   |  5 Pagesand his team traveled to the clinics and met with the individuals and their caretaker, which later became known as â€Å"consultees.† During these meetings, supportive, collegial discussion with the caretaker helped these caretakers to have different perspective that lead to how they effectively dealt with their consultees’ problem behaviors. 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Cultivating my understanding of psychology regarding its historical transformations, applied research methods, significance of ethics, and statistical relevance will undoubtedly profit my upcoming graduate degree program and the future of my career in the field of psychology. The wide array of studies in behavior and cross-cultural applications will communication skills required in relations to my clientsRead MoreEassy in Gujarati2422 Words   |  10 PagesMaster of Arts Part-II    Paper - V System amp; Theories in Psychology    Objective : To acquaint the students with systems and theories in psychology.    The Scheme of the Question Paper : 1.  Ã‚  Ã‚   The paper will consist of five units. 2.  Ã‚  Ã‚   There will be two chapter in each unit. 3.  Ã‚  Ã‚   Every chapter in the unit should be given equal weightage in the examination. 4.  Ã‚  Ã‚   Question paper should be drawn with the Internal Option in such a way that students should not   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   omit any chapter

The Impact of Asymmetric Information in the Financial Market

Question: Critically discuss how the Existence of Asymmetric Information provides a rationale for Government Regulation of Financial Markets. Answer: Introduction: The overall paper mainly examines the impact of asymmetric information in the financial market and need of intervention by governments. Moreover, it could be understood that due to the presence of asymmetric information and free rider problems, relevant information is not effectively available in the financial market. This shortage of information in the financial market mainly increases the chance of abnormal gains for specified individuals. In addition, asymmetric information in the current market scenario could instigate abnormal gains, which could be attained by some individuals. Albertazzi et al. (2016) mentioned that impact of asymmetric information is reduced substantially with the help of technology and availability of information to the investors. Furthermore, it is illegal to use of asymmetric information for trading purposes and could be punished by the regulatory body. The presence of asymmetric information could not help the market to function appropriately, as investors in fear of loss will halt their trading process. Furthermore, government intervention is mainly essential to help in reducing the use of asymmetric information by few investors to dominate the capital market. Government effectively use relevant measures and rules for encouraging the information production and reduce hoarding of information by one or collective parties. This intervention of government mainly helps in keeping check on the un-moral trades, which are conducted by some individuals to increase their overall profitability (Amiram et al. 2016). Both the impact of asymmetric information and the measures, which is used by the government to increase inflation flow is effectively depicted in the essay. Discussion: Asymmetric information mainly depicts that one party holds of more information in a transaction, which increases the change of abnormal gains. Firstly, the overall examination of asymmetric information could effectively help in understating its effect on efficiency function of the capital market. Moreover, there are two different types of rational, which could be responsible for government intervention. In addition, the two rational responsible for the intervention of governments, which are preventing financial crisis and promoting economic efficiency. The government mainly prevents the use of asymmetric information system in the financial market to improve the economy and reduce any instability. Bajari et al. (2014) mentioned that control over asymmetric information could reduce efficiency of the brokers recommendations, as information is widely available to investors. This availability of information has mainly helped in reducing the overall abnormal gains, which could be achieved by investor hoarding relevant information. However, the widely used asymmetric information in the financial market mainly leads to basic problems, like adverse selection and moral hazard. The overall central bank mainly depicts the central bank independence in making adequate monetary policy, which might help in shaping the economy of the country. In addition, the monetary policy mainly depicts the relevant change in economic decisions, which is conducted to reduce the impact of asymmetric information in the financial market. Moreover, relevant control over the financial intermediaries could be conducted by the government for reducing the flow of asymmetric information in the financial market. The government mainly needs to enforce and make the financial intermediaries convey the relevant information of the company to control the overall flow of information. Asymmetric information mainly creates a problem of adverse selection, which only occurs during transactions. Moreover, asymmetric information mainly allows one investor to sell its exposure by exploiting news obtained about the organisation. Asymmetric information mainly reduces overall ability of all the investors to comply company-projected information. Moreover, efficient market hypothesis is negatively affected by asymmetric information, as the company does not provide relevant information in the market. Some investors with the help of asymmetric information system are mainly able to make abnormal gains. Bouvard (2014) stated that due to the lack of relevant information maximum of the investors in stock market get loss from their investment. In this context, Billett, Garfinkel and Yu (2017) further mentioned that financial institutions before the global crisis were able to identify the faulty CDOs, which were then heavily traded in the global market. The concentration of knowledg e about the faulty CDOs only to the banking sector mainly portrays an asymmetric information system. This type of information retention could be stopped by the government body for reducing the mass liquidation of financial sector, which was witnessed in 2008 global financial crisis. Moreover, moral hazard problems could arise from the transaction, as for one individual the transaction is not viable, while for other party it is viable. The limited information flow does allow investor to grasp the risk associated with investments, as relative information is withheld with only one group. Bubb and Kaufman (2014) mentioned companies like Goldman Sachs mainly conducted that moral hazard, where they projected wrong investment deals to its clients. Moreover, during the global crisis of 2008 majority of the banks in US sold the faulty CDOs to traders, which mainly stated the moral hazard conducted by financial institutions. These problems arising in the financial market could mainly be reduced by government intervention in the emerging market. Chan (2016) stated that with the help of intervention from banking companies relevant asymmetric information system could be reduced in the financial market. Furthermore, there is a free-rider problem, which is associated with asymmetric information, where collective of individual mainly rely on free tips regarding valuation of certain company. In addition, the main problems of the free ride problem increase the demand for sharers, which in turn inflates its share price. This flow of asymmetric information could hamper the financial regulations and in turn obstruct smooth functions of the capital market. In this context, Chemla and Hennessy (2014) stated that governments impose strict regulations on free tips provided to investors, as it increased demand with constant support could increase share price of the company. On the contrary, Dionne, Michaud and Dahchour (2013) argued that in the emerging capital companies use falsified new to create a ripple in the stock market and increase its share price. Controlling the free rider problem is the main concern for government, as it increase demand and inflate share price of the company. This un realistic growth in the share price mainly inflates a bubble, which needs to be deflated for efficiently creating market system. Seeing the overall problem that arises from asymmetric information, government intervention is mainly needed for promoting economic efficiency. The overall screening and monitoring conducted by the government still do not control the asymmetric information system present in the financial market. After evaluation the overall relevant regulations needs to be imposed in the financial market by the governments for reducing the negative impact of asymmetric information. The government for promoting economic efficiency and continuous growth in the financial market mainly needs to reduce the overall asymmetric system in the financial market. Moreover, the existence of asymmetric information in the financial market mainly provides a strong rational for imposing regulations and supervision in the financial system. Dutta and Folta (2015) mentioned that presence of asymmetric information in the financial market mainly encourages government to engage in ensuring safety of the financial instituti ons. On the other hand, Einav et al. (2013) criticises that imposed regulations conducted by the US government on asymmetric information did not reduce the hoarding of relevant information regarding the default CDOs or Credit Swaps conducted by big companies. In the current market scenario majority of the business are funded by banks loans, which increase the risk of financial institution for continued operations. Government mainly needs to impose relevant regulations, which could help in safeguarding financial institutions from asymmetric information systems, as it might hamper its overall profit retention capacity. The relevant government supervision mainly emphasise on the supervision, which increases chance of systematic risk in the financial framework. However, any failure of one financial institution could start a ripple in the financial market, which started the market crisis. This consequence of the systematic risk mainly justifies the use of regulations and legislation by governments in the financial institutions. Finkelstein and Poterba (2014) mentioned that the overall use of adequate regulations has mainly helps in cutting the asymmetric information, which haunts the progress of the overall economy. In this context, Hoffmann, Mihm and Weimann (2015) further stated that government use relevant policy of transparency of information, which help in improving the flow of information. Furthermore, the relevant understanding of balance sheet is the essential part of reducing the asymmetric information present in the financial report. In addition, the government and relevant authorities mainly use the repo rate, money market and discounting feature to reducing the asymmetric information in the market. The government mainly controls the overall credit issue with the help in cash supply in the country. This cash supply in the economy mainly helps in boosting relevant business and financial market and allows investors to bet on rising economy. The overall regulations imposed by the government mainly help in improving the performance of economy and boost growth of financial institutions. The rendition of financial institution is mainly based on the control of asymmetric information, which could be used in increasing performance of companies. Moreover, the government with the help of regulations and rules in the financial system forces companies to encourage information production, which helps in reducing the asymmetric information. This continuous production of information and channelling to relevant investors is effective in reducing asymmetric information system. Hoque (2014) mentioned that companies listed in the share market mainly needs to adhere with the accounting principles, which is imposed by government. This use of relevant accounting principle could help in reducing the impact of asymmetric information and increase transparency in data of the company. Kahna (2013) argued that if the government does not decrease the impact of asymmetric information then at the first sign of trouble investors would sell their exposure, as they will not be able to differentiate stocks and analyse future outcome of their investment. Moreover, the government could effectively increase public information in FIs exposure to risk, which could in turn help in depicting the risk taking ability of financial institutions. This increment in the relevant information of financial institutions portfolio mainly depicts the risky investment that is been conducted. Moreover, the relevant policyholders and depositors must know what is been conducted by the FIs with their investment in the banks. Moreover, government intervention and transparency disclosure could mainly ensure investment and policyholder to understand the risky investments conducted by the company. In addition, government regulations and policies also make the FIs reduce the risk taking ability, which could hinder investment of depositors. This formation of policies and regulations mainly help in reducing the impact of asymmetric information, which could initiate a panic in the financial market due to reduced flow of information. Lewis and Bajari (2014) mentione d that government body like SEC has always played a vital role in forcing companies to deliver all the relevant information to the investors for increasing market efficiency and reducing asymmetric information system. However, Meza and Webb (2016) argued that complex investment schemes developed by financial institutions and trading companies like Goldman Sachs, which increased the asymmetric information system in the market. In addition, the overall independence and transparency of the Central Bank also plays a vital role in controlling the asymmetric information in the economy. The relevant stability in the independence of Central Bank could effectively help in controlling the asymmetric information in the country. The Central banks mainly need to take strict actions, which could help in reducing the asymmetric information in the financial market. Furthermore, the use of monetary policy and inflation policy is relevantly used in controlling the actions of financial market. This move is essential in controlling the credit ability of the investors, which is effectively used by the Central Bank in boosting economy of the country. Furthermore, the case of 2008 financials crisis could be evaluated for understanding the impact of asymmetric information and how regulations could have played a vital role in stopping the biggest financial meltdown. As depicted by US secretary of treasury, lack of adequate regulations conducted by the US government mainly instigated the financial crisis, as it gave way to increased asymmetric information. This increment in asymmetric information regarding the real estate condition of US investors mainly panicked and withdrew their investment, which led the collapse of the financial market (Roberts 2015). Hence, it could be understood that banking regulations need to be conducted by the US government for ensuring safe investment of the depositors money. Banking before the financial crisis mainly provided loan to irrelevant individuals, which increased the risk of investment and lead to the loan default. These uncontrolled actions of the bank mainly stared a ripple in the financial ma rket, which brought down many financial companies like Lehman brothers. Thus, it could be understood that for increasing transparency and reducing impact of asymmetric information in financial market adequate regulations need to be imposed by regulatory bodies. Silveira (2017) stated that increased transparency in depiction of financial reports could help investor understand the financial condition of the company and reduce impact of asymmetric information. Seeing the overall financial crisis of 2008 government should provide relevant policies and regulations for keeping efficiency of the financial market. This indulgence by the government mainly helps in keeping the flow of information and reducing impact of asymmetric information system in the financial market. For understanding the impact of financial crisis, we must understand its meaning. Financial crisis could be defined as the non-liner disruption in the financial market, where asymmetric information such as adverse selection and moral hazard becomes worse (Spindler, Winter and Hagmayer 2014). This worse condition mainly reduces channelling of funds to economic agents and plummeting investment opportunities. The whole scenarios of financial crisis mainly represent the low production of information regarding the business continuity of the company and financial institutions. Thus, it could be understood that financial crisis mainly halts efficient functioning of the financial marke t, which in turn contracts the economic activities of the country. As depicted by financial analyst, before 2008 government does not produced effective regulations for preventing the banks to lend mortgages to individuals without any income. This unmoral or hazardous activities was mainly conducted by banks mainly increase the risk of investment and collapsed due to declining income and rising payments (Tabarrok and Cowen 2015). The use of adequate laws could have forced banks to provide relevant information about their portfolio and investment. This method could have reduced the overall asymmetric information system in the economy and saved the financial liquidation during 2008. Financial crisis mainly occurs after financial liberation conducted by the government to boost its economy. The rise in overall liberation in the financial market mainly leads to problems such as increased risk taking ability of financial managers. This increment in the financial risk taking mainly exposes banks and other financial institutions with high return providing investment. The financial liberation mainly increases banks with extra credit ability, which initiates a lending boom in the economy, where individuals are provided loans more easily (Wei et al. 2015). This lending process mainly increased the flow of cash in the market with the initiation of the financial liberation. However, if the government is not providing adequate regulation and control in the liberation scheme then banking system for getting more profits will mainly turn to assets providing higher return with higher risk. This same situation could been seen in many instances, after the overall financial crisis of 2008, where many governments in 2012 used stimulus packages for inflating the economy with tax payers money and grant low interest loans to banks (Xiang and Wang 2014). The prevention of financial crisis is necessary, which could only be initiated if the government have control over the activities of the financial sector. The main motive of the companies is to gain money and profits, regardless of the overall risk associated with the investment, However, this situating could mainly change if regulations are imposed, which might help circulating information regarding investments conducted by the banks. In this way the government, could safe guard the depositors money and smoothly continue with the economic growth. With the help of the regulations there will be no spark or any panic among depositors and investors if any misfortunate news arrives. Xiang, Huo and Shen (2015) mentioned that banks supervision is essential in evaluating the rapid growth in lending process, which financial liberation. However, Meza and Webb (2016) argued that if there is no supervision or control over the investment objectives of banks then it could lead to the accruing of risky assets. After the evaluating the problems, which might arise from asymmetric information such as financial crisis, instability in economy and slow progress in financial market, relevant measure could be taken into consideration. These measures could not only help in reducing asymmetric information effect but also boost the economic growth (Lewis and Bajari 2014). In addition, the evaluation also provides confirmation that government should keep close look in the banks for effectively safeguarding the banking system. Moreover, it could also be evaluated that reduction in asymmetric information related to the banking system could mainly help the financial market to grow and prospers, as investor will know about the financial activities of their banks. This reduction in the overall asymmetric information could control wide spread panics and reduce occurrence of an economic crisis (Hoffmann, Mihm and Weimann 2015). In addition, if the government and cattail bank mainly portrays the trust that if any misfortune happens they would come for the rescue then the moral hazard previously explained could substantially reduced. This reduction in moral hazard is limiting the ability of asymmetric information to control the market and inflate prices in the financial market. Thus, the overall measures such as control over banking system, implementation of adequate accounting system and transparency in the operation could mainly help in reducing asymmetric information system haunting the financial growth of an economy. The government intervention is justified and is essential for increasing trust of the depositors and investor, which could in turn help channel adequate investment in the economy. However, Finkelstein and Poterba (2014) argued that increased punishments should be imposed on financial institutions and banks, which are using public deposits to increase their personal gain. The intervention of government with the help in regulations and laws mainly acts a bridge in the information gap between companies and investors. Conclusion: After the overall discussion on the impact of asymptotic information and impact on the financial market, government should use adequate regulations for control on the mismanaged information production system. There are mainly examples that could be seen, which represents the overall impact if asymmetric information in slowing the overall economy of the country. The major example could be pinpointed during the economic crisis of 2008, which mainly liquidated the financial sector of the world. The non-monitoring and lack of adequate control in risk taking ability of the bank created relevant mismanaged information in the market. The US government using stimulus packages, which helped in boosting the economy, then controlled this problematic situation. This mainly indicates the use of government in reducing asymmetric information is essential and provides rational for these bodies to intervene in the financial market. The intervention in the financial market mainly allows the government to reduce problem of adverse selection, moral hazard problems, and free-rider problem. This control over the asymmetric information system is essential for boosting the overall economic growth and improves stability in the financial market. The government should use adequate regulation for reducing the impact of adverse selection, moral hazard problems, and free-rider problem, as it could destabilise the market. Lastly, the prevention of the economy from hurdles or crisis is essential for the government to maintain a continuous growth, which could only be carried if asymmetric information is substantially recued in the financial market. Safety from financial crisis could only be avoided if automated stock market system is introduced in the financial market. This move could mainly help in increasing production of information and transparency, which will lead to reduction in the asymmetric information system. Reference: Albertazzi, U., Bottero, M., Gambacorta, L. and Ongena, S., 2016.Asymmetric information and the securitization of SME loans(No. 1091). Bank of Italy, Economic Research and International Relations Area. Amiram, D., Beaver, W., Landsman, W. and Zhao, J., 2016. The Effects of CDS Trading on Information Asymmetry in Syndicated Loans.Journal of Financial Economics. Bajari, P., Dalton, C., Hong, H. and Khwaja, A., 2014. Moral hazard, adverse selection, and health expenditures: A semiparametric analysis.The RAND Journal of Economics,45(4), pp.747-763. Billett, M.T., Garfinkel, J.A. and Yu, M., 2017. The effect of asymmetric information on product market outcomes.Journal of Financial Economics,123(2), pp.357-376. Bouvard, M., 2014. Real option financing under asymmetric information.Review of Financial Studies,27(1), pp.180-210. Bubb, R. and Kaufman, A., 2014. Securitization and moral hazard: Evidence from credit score cutoff rules.Journal of Monetary Economics,63, pp.1-18. Chan, D.C., 2016. Teamwork and moral hazard: evidence from the emergency department.Journal of Political Economy,124(3), pp.734-770. Chemla, G. and Hennessy, C.A., 2014. Skin in the game and moral hazard.The Journal of Finance,69(4), pp.1597-1641. Dionne, G., Michaud, P.C. and Dahchour, M., 2013. 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Role of asymmetric information and moral hazard on IPO underpricing and lockup.Journal of International Financial Markets, Institutions and Money,30, pp.81-105. Kahna, L.B., 2013. Asymmetric information between employers.American Economic Journal: Applied Economics,5(4), pp.165-205. Lewis, G. and Bajari, P., 2014. Moral hazard, incentive contracts, and risk: evidence from procurement.The Review of Economic Studies, p.rdu002. Meza, D. and Webb, D.C., 2016. False diagnoses: Pitfalls of testing for asymmetric information in insurance markets.The Economic Journal. Roberts, M.R., 2015. The role of dynamic renegotiation and asymmetric information in financial contracting.Journal of Financial Economics,116(1), pp.61-81. Silveira, B.S., 2017. Bargaining with Asymmetric Information: An Empirical Study of Plea Negotiations.Econometrica,85(2), pp.419-452. Spindler, M., Winter, J. and Hagmayer, S., 2014. Asymmetric information in the market for automobile insurance: Evidence from Germany.Journal of Risk and Insurance,81(4), pp.781-801. Tabarrok, A. and Cowen, T., 2015. The end of asymmetric information.Cato Unbound. Wei, J., Govindan, K., Li, Y. and Zhao, J., 2015. Pricing and collecting decisions in a closed-loop supply chain with symmetric and asymmetric information.Computers Operations Research,54, pp.257-265. Xiang, P. and Wang, J., 2014. Research on preventing moral hazard of construction project based on information asymmetries.Open Construction and Building Technology Journal,8, pp.468-475. Xiang, P., Huo, X. and Shen, L., 2015. Research on the phenomenon of asymmetric information in construction projectsThe case of China.International journal of project management,33(3), pp.589-598.