Rational expectations

Groupthink hypothesis is an essential explanatory tool in explaining why certain decisions taken may not always follow the rational model based on aspects of the decision making body itself. ‘According to the groupthink hypothesis, members of any small cohesive group tends to maintain esprit de corps by unconsciously developing a number of shared values and related norms that interfere with critical thinking and reality testing’ (Janis,(1972) 2002). The illusions of invulnerability, unlimited…

Extended Metaphor Assignment Rational John Hickam, the father of the lead character Homer Hickam in the movie October Sky, possesses many personality traits and characteristics which are developed, changed, and evolved throughout the film. The three evident key traits that he seems to have which have been modified throughout the movie are his values, his personality type, and his expectations. The format that I chose to represent the values of John Hickam is a drawing, as his values are one…

The expectations and conventions in relation to the form of genre to a substantial degree play a pivotal role for the satirist, as it serves the purpose of masquerading original intent. This creates an aura of deception, allowing the satirist to mimic the authenticity of this mode of discourse, in order to create a greater comedic scenario. In this instance, the genre conventions are compromised by the ease they can be used to dissimulate and their ability to insinuate perspectives and ideas…

will be excepting? What specification will be helpful to decide the success and failure? How? How do goals make difference between the internal and external stakeholders? There are three basic types of goals 1) “Planning” provide our direction 2) “Rational” navigating to be clear and specific 3) “Muddling” attention to immediate concerns Different beneficiaries…

"Brinkmanship is thus the deliberate creation of a recognizable risk of war, a risk that one does not completely control." Whilst there is a necessity for a ‘recognisable risk of war’ to ensure credibility, a risk that one does not have control of is not a rational strategy, and therefore does not constitute a morally acceptable deterrence. Deterrence is only morally acceptable when the ethical reasons for the deterrence are the priority. Joseph Nye’s consequentialist point of view opposes…

Contrary to the rational-actor theory that she sets as a contrast, where independent political actors decide on actions based exclusively on rational thought and logical cost-benefit analyses, her polis instead distinguishes between the “political community” and “cultural community,” respectively the citizens of a nation and the plethora…

as an end, never merely as a means. (GW, 4: 429/38); (Kant, 1998, p. 38). To respect according to humanity to every human being is to maintain dignity, the rule that should be implied at any situation. It is due to the ‘idea of the will of every rational being as a will giving universal law. (GW, 4:431/39); (Kant, 1998, p. 39). Student can ask questions from teacher whatever doubt they have for the acquisition of knowledge. But in order to learn something from the teacher, student should not be…

The games between the authority and drivers are usually Stackelberg games. Fisk (1984) modelled the interactions of drivers’ groups and the optimisation of signal control (authority). The authority makes a first move in this case, i.e. to minimise the network total travel time, and the followers (drivers) move sequentially by reducing their travel time. The authority can control the travel time for the whole network by responding advance in an optimal way to the drivers’ selfishness. In this…

governmental authority are exempt from the Fourth Amendment. (Barry Friedman and Orin Kerr, n.d) What Does the Fourth Amendment Protect? Searches The Fourth Amendment, must primarily demonstrate an expectation of solitude, which is not simply a subjective expectation in attitude; however, an expectation that civilization is prepared to distinguish as realistic under the circumstances. For example, warrantless searches of personally own properties are customarily prohibited without admissible…

methodological contribution is to illustrate how one goes about constructing dynamic, stochastic general equilibrium models to shed light on questions of substantive economic interest. In order to test the proposition that where nominal aggregate demand shocks are highly volatile the effect of any particular nominal aggregate demand shock is less, Lucas got data on nominal and real output/ expenditure covering the years 1951-1967 for 18 countries. He then assumed that, for each country, the mean…