21 Pages

Class 2 - Power Point Slides

Course: MGMT 305, Spring 2012
School: Binghamton
Rating:
 
 
 
 
 

Word Count: 1199

Document Preview

2 I. Class Announcements First reading assignment and paper due next class: "Falsifiability: A discourse on how to foil little green men in the head" Download from Blackboard under "Assignments" Paper One full page (doubled space) - comments , reactions, thoughts. Must be well written and include more than a summary. Bring hard copy to class. Also turn it in through...

Register Now

Unformatted Document Excerpt

Coursehero >> New York >> Binghamton >> MGMT 305

Course Hero has millions of student submitted documents similar to the one
below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.

Course Hero has millions of student submitted documents similar to the one below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.
2 I. Class Announcements First reading assignment and paper due next class: "Falsifiability: A discourse on how to foil little green men in the head" Download from Blackboard under "Assignments" Paper One full page (doubled space) - comments , reactions, thoughts. Must be well written and include more than a summary. Bring hard copy to class. Also turn it in through "turnitin" on Blackboard. No late assignments accepted! II. Science vs. Pseudoscience What is science? science is not a collection of facts nor is science defined by subject matter science is a set of rules for answering questions: It involves: 1. posing a question 2. designing an experiment to answer the question 3. collecting data 4. interpreting the data Although scientists seek "truth" they don't know truth. They propose and test theories, knowing that future evidence may cause revision or even rejection of their theories. What is Pseudoscience? Pseudoscience - a established body of knowledge that claims to be scientific but does not adhere to the basic requirements of the scientific method. The most important of its defects: - the lack of carefully controlled and thoughtfully interpreted experiments -Pseudoscience beliefs are not open to experimentation -seldom is there an acknowledgment that future evidence may lead to the rejection of the beliefs III. Examples of Pseudoscience 1. Psychics A newsgroup in Philadelphia - tested the powers of socalled psychics. Video of 15 year old girl named Kate told "psychics" the girl had been missing since January. * No one used their psychic abilities to figure out this was a hoax. * If psychics can really find missing people, why haven't psychics caught serial killers before they kill again? Why do we need Amber Alerts to find kidnapped children? And where is Osama bin Laden? 2. UFOs and alien abductions A 2005 Gallup poll - 24% of Americans believe that aliens have visited our planet "...despite the fact that we humans are great collectors of souvenirs, not one of these persons [claiming to have been aboard a flying saucer] has brought back so much as an extraterrestrial tool or artifact, which could, once and for all, resolve the UFO mystery." Even if there is other intelligent life in the universe, it's very very far away! Many claims about alien abductions have come after hypnosis, or psychotherapy. Can think of people with these beliefs as sharing a cultural delusion. Not only do people often describe the aliens similarly, they describe them to look similar to the way they have appeared in a number of TV shows and movies.... Despite the wealth of evidence against UFOs, psychics, etc., why do so many well educated people believe in them? In the 19th century it was predicted that these types of superstitions would soon disappear because of universal education. But this didn't happen. Why? IV. Why are pseudoscientific claims so commonly believed? 1. Many beliefs are motivated by important fears and needs: Fear of death Fear of the unknown Need for hope and wonder Need to feel a sense of control over the uncontrollable realities of life and death 2. Some pseudoscience beliefs come about by the timing and spacing of events. temporal contiguity - when two stimuli are experienced close together in time (touching a hot stove and getting burned) Temporal contiguity of 2 events can lead to superstitious beliefs: You think of Uncle Harry and a moment later he calls. People often infer a causal relationship thinking of Uncle Harry has caused him to call (or his being about to call us made us think of him). Baseball player once tapped his hat and hit a home run, student used a particular pencil and got A an on an exam. 3. False beliefs often due to people having too much trust in their personal experiences When people have an extraordinary personal experience, they are often very confident in its truth: "I saw it with my own eyes." "I know what I heard and felt." In several surveys, people who believe in the paranormal have cited personal experience as the most important reason for their belief. Personal experience got more votes than media reports, experiences of friends or relatives, and laboratory evidence. We usually assume that what we experience is reality. Although we're generally correct, we are not always. We're at much greater risk for being wrong in trusting our reality when: a. no one else has shared our experience, and b. our conclusions are at odds with all known previous experience The realities of perception and memory? What we perceive and remember is not only influenced by our eyes and ears, but also by what we know, what we expect, what we believe. Memories are also selective We selectively remember certain things and ignore others. This can give us the impression that something mysterious, even paranormal, is going on. For example - False Memories... Huge research literature examining "false memories." Loftus & Pickrell - Lost in the mall experiment 29% of the participants "remembered" the false event constructed for them The point? People are often confident in their memories, even when the memory is not correct. Just because we "remember" it doesn't mean it's true: We may think that this is the first time we've thought of Uncle Harry in weeks, making it seem amazing that he called just when we thought of him. But maybe we've thought of him at other moments, and don't remember. 4. People deny inconsistent evidence People cling to beliefs when they have invested a lot of time and effort in them. Example Study of student psychotherapists - once the students had arrived at a diagnosis, they could look through an entire folder of contrary evidence without changing their minds. Instead they interpreted the evidence to fit their diagnoses. Similarly, people hang on to pseudoscience beliefs even when faced with a great deal of evidence that is inconsistent with their beliefs. 5. People misjudge probabilities Research shows that people (even trained scientists) frequently misjudge probabilities. Sometimes we think that an event couldn't have occurred by chance because it would be SO unlikely, and therefore must be the result of psychic forces. However, we're frequently way off in our estimates of the odds: Example - prophetic dreams: If a normal person has about 100 dreams per night and over 250 million people live in the United States. Thus, billions of dreams every night and trillions in a year. With so many dreams and so many life events that can be matched up to dreams, it would be surprising if some dreams didn't seem prophetic. Other examples: You're reading a novel. Just as you get to the part that mentions the beauty of the monarch butterfly, you look up and see one on your window. You're sitting in an airport, thinking about the last name of an old classmate. Just then the person sitting next to you says that very name aloud in a conversation with someone else. These events lead people to wonder if psychic forces are at work. But how unlikely are such pairings? NOT VERY! Of course - none of this shows that prophetic dreams or psychic connections can't happen. But it does demonstrate that just because these events feel improbable doesn't necessarily mean they are. Next class How to evaluate scientific claims. How to distinguish between science and pseudoscience.
Find millions of documents on Course Hero - Study Guides, Lecture Notes, Reference Materials, Practice Exams and more. Course Hero has millions of course specific materials providing students with the best way to expand their education.

Below is a small sample set of documents:

Binghamton - MGMT - 305
Class #3I. Reading/writing assignment #2 Reading assignment for next week (class #4) "Wonder and Skepticism" by Carl Sagan (available on Blackboard). No paper needed!II. Science vs. Pseudoscience We talked about some of the reasons that people have dif
Binghamton - MGMT - 305
Class #4Writing Assignment #2 due next week: Two choices: 1. Read this article: Gina Green (1994). Facilitated communication: Mental miracle or slight of hand? Skeptic, v. 2, no. 3, 68-76. OR 2. Watch this video: Facilitated Communication: Prisoners of S
LSU - BIOL - 1202
Study Guide for Comprehensive Portion of the Final Exam BIOL 1202 Fall 2011 Chapter 22 Explain the mechanism for evolutionary change proposed by Darwin and Wallace (i.e., natural selection) Define evolution Chapter 23 Explain the statement "It is the popu
Columbus State University - HISTORY - 1
Morgan Gadley 10 block Coach Martin1600-16091600- North America was largely unclaimses, though the spainish had much control in Central and South America. 1603- Queen Elizabeth I dies. James I succeeds her. 1604- James I makes peace with Spain. 1605- Ch
The Chinese University of Hong Kong - ECON - 3420
ECO 3420A Financial Economics (2011-12 Term 1)Prof. Kai-Sun KWONG (x8198) ELB 934 (student visits welcome)Lecture Times:Tuesday 13:30-14:30 ELB LT3Thursday 10:30-12:30 ELB LT3Tutorials:Times and Venues to be announcedTeaching Assistants1. AU Siu-L
The Chinese University of Hong Kong - ECON - 3420
ECON 3420A - Lecture 1Intertemporal ChoiceIn this chapter, we study how decisions of consumption and investment can be madein a world of two periods and when there is no uncertainty over future incomes. Insuch a setting, the analysis is actually very
The Chinese University of Hong Kong - ECON - 3420
Mean-Variance AnalysisIn this chapter, we leave the certain world and introduce risk into our analysis. We start with a reviewof the expected utility hypothesis. We note the connection between risk-aversion and diminishingmarginal income. We then intro
The Chinese University of Hong Kong - ECON - 3420
Capital Asset PricingIn this chapter, we study the first of the three main theorems in financial economics, namely theCapital Asset Pricing Model. (The other two theorems are the Modigliani-Miller theorem ofcorporate finance and the Black-Scholes formu
The Chinese University of Hong Kong - ECON - 3420
EMH-TheoryWhat we have done so far are static analyses. We investigated how asset prices are determined inequilibrium. This type of analyses is most suitable for explaining prices of different assets in across section. In the present chapter, we shift
The Chinese University of Hong Kong - ECON - 3420
EMH Empirical StudiesIn this chapter, we focus on evaluating certain implications of EMH and look at some empiricalresults. If we trace through the line of reasoning, these empirical results present evidence for theplausibility of EMH itself. We will s
The Chinese University of Hong Kong - ECON - 3420
Efficient Market Hypothesis (EMH) Supplementary NotesTheory1.-Information Collection Is CostlyConcerns semi-strong form EMHSome traders choose to collect and analyze information, while others do not. Thegross return of the informed is higher than t
The Chinese University of Hong Kong - ECON - 3420
Corporate FinanceIntroductionIn this chapter, we turn our attention to the sources of financing of the firm, in other words, thecapital structure of the firm. There has been a lot of investigation on whether the capital structureof the firm affects it
The Chinese University of Hong Kong - ECON - 3420
Mergers and AcquisitionsIn this chapter we study a special type of financial activity mergers and acquisitions. M&Aattracts much attention of financial economists because they utilise a vast amount of financialresources. Economists in general are intri
The Chinese University of Hong Kong - ECON - 3420
Corporate GovernanceWho governs the firm? If the firm is managed by its owners, no problem arises. The managerswill manage the firm to their greatest benefit. However, many modern firms, especially the largerones, are not managed by the owners. Two pro
The Chinese University of Hong Kong - ECON - 3420
The Chinese University of Hong Kong - ECON - 3420
The Chinese University of Hong Kong - ECON - 3420
The Chinese University of Hong Kong - ECON - 3420
The Chinese University of Hong Kong - ECON - 3420
The Chinese University of Hong Kong - ECON - 3420
The Chinese University of Hong Kong - ECON - 3420
The Chinese University of Hong Kong - ECON - 3420
The Chinese University of Hong Kong - ECON - 3420
The Chinese University of Hong Kong - ECON - 3420
1Mergers and Acquisitions (M&A)"If the target has agency problems, why not the acquirer?"M &A = Compa11y A (the acquirer) acquires asignificant proportion o f t he shares o fCon1pany B (the target) so that the control andmanagement o f C ompany B sh
The Chinese University of Hong Kong - ECON - 3420
The Chinese University of Hong Kong - ECON - 3420
The Chinese University of Hong Kong - ECON - 3420
The Chinese University of Hong Kong - ECON - 3420
The Chinese University of Hong Kong - ECON - 3420
The Chinese University of Hong Kong - ECON - 3420
ECO 3420 Financial EconomicsFinal Examination (2010-11 Term 1) (Closed-Book)Always explain your answer clearly and completely. Credits are given to concise andwell-presented answers. Provide diagrams wherever appropriate.Time allowed = 90 minutes. Ans
The Chinese University of Hong Kong - ECON - 3420
ECO 3420B Financial EconomicsFinal Examination (2010-11 Term 2) (Closed-Book)Always explain your answer clearly and completely. Credits are given to concise andwell-presented answers. Provide diagrams wherever appropriate.Time allowed = 90 minutes. An
The Chinese University of Hong Kong - ECON - 3420
ECO 3420A Financial Economics - AnswersMidterm Quiz (2011-12 Term 1) (Closed-Book)Time allowed = 40 minutes. Answer all eight questions.Section 1 Multiple Choice (Eleven questions, 5 marks each. Choose the best optionand indicate it in the space provi
The Chinese University of Hong Kong - ECON - 3420
1. Risk:A<B<CMean return:A<B<CAsset A has the lowest risk. It is because the bond is issued by the Chinesegovernment. The probability that the Chinese government goes bankrupt is very low.Even if the government does not have sufficient money to repa
The Chinese University of Hong Kong - ECON - 3420
ECON 3420A Financial Economics2010-2011 Term 1Discussion 2: Capital Asset Pricing Model (CAPM)1.Recall the PV rule of investment decision. Extend that rule to investment decisionsunder risk, in the light of the CAPM.The PV rule for investment decisi
The Chinese University of Hong Kong - ECON - 3420
DiscussionReport1.What do you expect to happen to stock price if some good news about futureearnings breaks out (for example, a drug company has found a new drugsuccessful in curing certain disease)? Trace the actions of the traders after thenews. Wh
The Chinese University of Hong Kong - ECON - 3420
ECON 3420A Financial Economics2010-2011 Term 1Discussion 4: Efficient Market Hypothesis (EMH) Evidence (I)1.Setting aside the technical elements of the volatility test, can you present in commonsense terms why a market that is too volatile in the pri
The Chinese University of Hong Kong - ECON - 3420
Financial Economics Discussion Question 6 918th October, 2010Q6:General Theory suggests stock prices are able to move far away from thefundamentals. Due to the advances in technology of communication, nowadays, thistheory is increasingly relevant. Th
The Chinese University of Hong Kong - ECON - 3420
ECON 3420A Financial Economics2010-2011 Term 1Discussion 6: Corporate Finance (I)1.Imagine a world of certainty. Suppose you own the copyright of a book. You arethinking of starting a company to publish your book. Because of complete certainty,the f
The Chinese University of Hong Kong - ECON - 3420
5.)Asweknow,manysmallfirmsalwaysborrowmoneyfrombankstocontinuetheirbusiness.Asbankswouldaskforcollateralingrantingloanandsmallfirmdoesnothaveenoughmarketableassets,manysmallbusinessownersfrequentlyusetheirownassetswhichmostofthemaretheirhousingtobethec
The Chinese University of Hong Kong - ECON - 3420
ECON 3420A Financial Economics2010-2011 Term 1Discussion 8: Mergers and Acquisitions (M&A)1.What features of an M&A would suggest that acquirer shareholders would likelygain after the acquisition.One feature of M&A that shareholders will likely gain
The Chinese University of Hong Kong - ECON - 3420
ECON 3420A (2011-12 Term 1)Discussion Report [Group 1]Name: Sin Leong HangSID: 11550025021.Risk: C > B > AA is a bond issued by the Hong Kong government. Bonds, in particular sovereignbonds, are considered to be low-risk investment vehicles, compar
The Chinese University of Hong Kong - ECON - 3420
ECON 3420 Financial EconomicsSample Mid-term Examination (2011-12 Term 1) (Closed-Book)Answer Guide1.(a) What is the major difference between risky arbitrage and riskless arbitrage?(b) Suppose the market cap of a company is $50 million. This company
The Chinese University of Hong Kong - ECON - 3420
ECON 3420 Financial EconomicsSample Mid-term Examination (2011-12 Term 1) (Closed-Book)Always explain your answer clearly and completely. Credits are given to concise andwell-presented answers. Provide diagrams wherever appropriate.Time allowed = 70 m
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 1Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kong MATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1Lecture NotesGo tohttp:/www.math.cuhk.edu.hk/jwongUser Name: mat
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 2Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kong MATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1L INEAR E QUATIONS AND M ATRICES1. Linear Systems2. Matrices3. D
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 1cDr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1L INEAR E QUATIONS AND M ATRICES1. Linear Sy
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 4Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kong MATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1S OLVING THE L INEAR S YSTEMSGaussian Elimination and LU Factoriza
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 5Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kong MATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1E LEMENTARY M ATRICESLEMENTARYM ATRICES2We have seen that any m
The Chinese University of Hong Kong - MATH - 2510
Markov ChainDr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kong MATH 2510Linear Algebra and Its ApplicationsFall, 2010Produced by Jeff Chak-Fu WONG1A PPLICATIONS TO M ARKOV C HAINSPPLICATIONS TOM ARKOV C HAINS2What
The Chinese University of Hong Kong - MATH - 2510
Partitioned MatrixDr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kong MATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1M ATRIX O PERATIONS : PAR TITIONINGATRIXO PERATIONS : PARTITI
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 6Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kong MATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1D ETERMINANTS1. Denition and Properties2. Cofactor Expansion and
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 7Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1R EAL V ECTOR S PACES1. Vector Spaces2. Subs
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 9Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1R EAL V ECTOR S PACES1. Vector Spaces2. Subs
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 10Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1R EAL V ECTOR S PACES1. Vector Spaces2. Sub
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 11Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1R EAL V ECTOR S PACES1. Vector Spaces2. Sub
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 12Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1 Matrix Transformations Linear Transformatio
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 13Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1R EAL V ECTOR S PACES1. Coordinates and Chan
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 15Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1D OT P RODUCT ON RnWe shall now dene the not
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 16Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsFall, 2010Produced by Jeff Chak-Fu WONG1O R THONORMAL B ASES IN RnRTHONORMALB ASES IN
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 17Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1O R THOGONAL C OMPLEMENTSRTHOGONALC OMPLEME
The Chinese University of Hong Kong - MATH - 2510
Lecture Note 18Dr. Jeff Chak-Fu WONGDepartment of MathematicsChinese University of Hong Kongjwong@math.cuhk.edu.hkMATH 2510Linear Algebra and Its ApplicationsWinter, 2011Produced by Jeff Chak-Fu WONG1A PPLICATIONS OF R EAL V ECTOR S PACES - QR-F