Nobel Prize Winners Essays - Fellows Of The Econometric Society

Nobel Prize Winners The theories of these five men: John C. Harsanyi, John Nash, Reinhard Selten, Robert W. Fogel, and Douglass C. North, made an abundant progress in the Economic Sciences in America and the economy. For these great accomplishments, these five were awarded the Noble Peace Prize in Economic Sciences in 1994(Harsanyi, Nash, Selten), and 1993(Forgel, North). The three economists who was awarded the Noble Peace Prize in 1994 for their excellent work and progress in game theory was know as pioneers in using games like chess and poker as the foundation for understanding complex economic issues. This was precisely half a century after John Von Neumann and Osar Morgenstern launched the field with the publication of "The Theory of Games and Economic Behavior." "John F. Nash of Princeton University(a American economists), John C. Harsanyi of the University of California at Berkeley(a Hungarian economist), and Reinhard Selten of the Rheinische Friedrich- Wilhelms-Universitat in Bonn(a German economists), shared the award, and the $930,000 cash award for their achievements in economics."1 The trios accomplishment portrayed the significance of Von Neumann and Morgenstern's contribution to game theory, which was recognized by economists and others almost immediately. The lessons they drew from homely games like chess and poker had exemplified universal application to economic situations in which the participants had the power to anticipate and affect other participants' actions. Harsanyi stated "it is a theory of strategic interactions...of rational behavior in social situations in which each player has to choose his moves on the basis of what he thinks the other players' counter moves are likely to be"2 Economists did not have an immediate success in applying their insights to a field whose preoccupation with the idea of"free competition" required that the ability of each particular participant to influence outcomes be negligible. So instead, game theory found all kinds of immediate applications in the 1950's to problems of the Cold War, everything from airplane dog-fights to doctrines of massive retaliation. "In book '"Prisoner's Dilemma," writer William Poundstone records the heady intellectual excitement around the Institute for Advanced Study at Princeton and Rand Corp. in Santa Monica, Calif., which was where much of the early work was done."3 Nash hinted the first formal breakthrough meanwhile he was still a young instructor at the Massachusetts Institute of Technology. He succeeded in generalizing a set of problems known to economists since the 1840's, when Augustine Cournot began writing about what might happen when two big companies collide with one another in the marketplace. Nash also formulated a universal"solution concept" for many-person '"noncooperative" games (meaning those in which has no outside authority assures that players stick to some predetermined rules). His name was thus attached to the whole range of possibilities that might arise from successfully seeing through a rival's strategy, they have been called "Nash equilibria" ever since. "It was a very deep achievement,"4 said Princeton's Avinash Dixit, who was among those who nominated Nash for the prize. Nash accomplished many other things, including introducing a formal theory of bargaining into economics (which the Swedes did not mention in the main body of their citation). But he made his way mainly as a pure mathematician, doing widely admired work, exhibiting many of the eccentricities that are associated with the model of that professional type. Though Thomas Schelling, a University of Maryland economist demonstrated how many game theory concepts could be applied to economics. The awards were given to Harsanyi, 74, and Selten, 64. Both researchers proved important mathematical theorems while refining the concept of Nash equilibria, and Harsanyi in particular has ventured into topics of philosophy. The two economists, Robert W. Fogel and Douglass North, won the Nobel Prize in 1993 were known as pioneering economic historians for economics. These two turned the theoretical and statistical tools of modern economics on the historical past: on subjects ranging from slavery and railroads to ocean shipping and property rights. Fogel, a professor at the University of Chicago, often is described as the father of modern econometric history. He's especially noted for using careful empirical work to overturn conventional wisdom. North, a professor at Washington University in St. Louis, was honored as a pioneer in the "new" institutional history. In the Nobel announcement, they specifically mention North's research in 1968 that showed how organizational changes played a greater role in increasing productivity than did technical change. "The Cambridge native has also written a series of books, including "The Rise of the Western World" in 1971 and "Structure and Change in Economic History," which set out with clarity how the role of institutional change, and

Changes in China After 1911 essays

Changes in China After 1911 essays The 1911 Revolution was an epochal event in Chinese history. It brought an end to more than two thousand years of imperial dynasties and the monopolistic Manchus rule. A republic was set up in China under the leadership of Yuan Shikai. It also marked Chinas separation from the past. The Chinese began to turn away from the Confucianism and became more exposed to western influence. The creation of a western-style republic speeded up and extended westernization and modernization in all areas of Chinese city life and culture. Thousands of young people went abroad to study and brought back the foreign ideas and ideologies. Because of the writings of the intellectuals and the establishment of schools and universities, Chinese literacy increased. Also, China international status had increased after 1911. It seemed that China had changed a lot after 1911. However, many things still the same as before 1911. According to Immanuel Hsu, the founding of the republic had not brought peace, order, and unity. Instead, the early republican years were characterized by moral degradation, monarchist movement, warlordism, and intensified foreign imperialism. The republic set in 1911 was just only in name. Yuan controlled most of the power and tried to change it back to dictatorial rule. The instability of the republic also provided a chance for the rise of the military leaders and caused political decentralization. The warlords usually ruled like a dictator and exploited the people. Peoples livelihood didnt improve after the 1911 Revolution. Moreover, foreign imperialism was not removed. And Japanese Imperialism e ven intensified in the warlord period. Therefore, China was not fundamentally changed in the decade after 1911 Revolution. After 1911 Revolution, a republic was set up in China. This put to an en to more than two thousand years dynastic cycle. China was no longer belonged to any Mandate of ...

Should You Include a Summary on Your Resume

Should You Include a Summary on Your Resume Gone are the old days of the â€Å"Objective† paragraph at the top of a resume. Everywhere you look, job gurus are insisting that the â€Å"Summary† statement is the next new thing. Does that mean we should all run out and add one to our resumes? Not exactly. In some cases, it’s just a matter of fashion. Style, not substance. In those cases, it’s best to resist the trend and stick with the traditional. Here’s a primer for determining whether or not you need a summary statement- and, more importantly, whether one could help or hurt you.Ask Yourself: Where are you now?Figure out what you would feature in the summary. Just a distilled repetition of information you already have in the body of your resume? Are you just taking up valuable real estate on the page to repeat yourself?If you have a wealth of seemingly disparate experiences that require a bit of context to tie together- i.e. you want to feature a particular core set of skills to unify your job history, or you have multiple years of experience and would like to highlight the arc of your work journey (aka, your brand)- then it can be an incredibly useful tool.Ask Yourself: Where do you want to be?Do the requisite soul searching to figure out what you really want in your next position. What kind of job are you after? What skills do you enjoy utilizing the most? What accomplishments highlight those skills best? What are you passionate about? Once you answer these questions, you’ll be much better prepared to highlight the skills and special information that would make you more appealing to hiring managers in that area.Ask Yourself: Where is your industry?Do a bit of legwork to figure out what your ideal industry is after. What skills will matter most to hiring managers in your field? Are these skills you have, but perhaps aren’t clear enough in your work history?Wield your summary to show HR you have what they need most. Consider what your biggest selling points might be and focus on those. Show how uniquely equipped you are to tackle their biggest issues and address their biggest needs. Show you care about their core concerns.Craft your statement.Be concise. You have limited space and you really don’t want to just regurgitate the bullet points in your resume. Try not to repeat anything that follows in the Summary. Instead, focus on providing valuable context, narrative-shaping, and synthesis that will hopefully prove to be game-changing. Use this space to show your potential employer what you have to offer, but make sure to target and match that with what they’re looking for and need the most.

Economic Growth in Israel Essay Example | Topics and Well Written Essays - 1750 words

Economic Growth in Israel - Essay Example From this essay it is clear that  the OECD aims at providing support to the member countries to restore confidence in their market and institutions and foster new sources of growth through technology and innovation which would provide a basis for sustainable future economic growth. The data analysis provided by OECD regarding the major economic indicators of the member country Israel will provide a clear picture to its institutions and organisations about the current scenario of the economy and help them to propose appropriate solutions through the application of economic theories and practices. OECD works with the prime motive of providing information on a wider range of topics to provide assistance to the government and other institutions of a member country to formulate appropriate polices that can help them to foster growth and stability in the economy. This report analyzes the major indicators of economic performance of Israel. The data of major economic indicators of Israel a re collected from OECD and can be used to analyze how the growth and performance of the country can be improved based on its reports. There are variety of economic indicators like agriculture, energy, finance, governmental interference, employment, technology and research, health and environment on the basis of which OECD analyzes the performance and growth of Israel. It provides a relative framework for understanding the role of government and local organisations in their contribution towards long term growth and efficiency of the economy.

The Clouds Essay Example | Topics and Well Written Essays - 500 words

The Clouds - Essay Example After realising that my digital camera would be unable to truly capture the vision before me, I put the device aside in order to study the cloud from every viewing point available to me. Although I am no meteorologist, this cloud is an outstanding specimen of nature. This is an enormous lenticular cloud, created and moulded by the wind. Hovering above the craggy horizon dominated by peaks competing for dominance, this cloud is a cohesive whole. Butting against the blue background in a scalloped and varying edge, it appears to be in overhanging layers. With edge conditions comparable to the exterior of a geode, less and less light flows through as the layers get deeper and lower. Through the varying shades of white, black and grey, I begin to fathom how large and intricate this formation truly is. This also makes for fascinating shadow play between the elements of this majestically still phenomenon, highlighting the collected microchasms creating the scene before me. Haunting my path throughout my explorations of the landscape, the cloud's massive thin and white expanse distinctly dominated an otherwise pristinely blue sky.

British Broadcasting Corporation

British Broadcasting Corporation Why For So Much of its History was British broadcasting organised as a public service? By way of introduction, it is important that I explain about the British Broadcasting Corporation, known otherwise as the BBC, in order to get a better insight to what I will be explaining further on. Being the first and the Worlds biggest broadcasting organisation, it has been known to be a public service broadcaster, which has been up and running since 1922, providing services on the internet, TV and radio. I should highlight the fact that when we talk about a â€Å"public service†, we mean services which have been provided to us via the government. Though according to Ofcom, (Office of Communications) a problem lies when we define this term, as it has 4 meanings attached to it. â€Å"Good television; worthy television; television that would not exist without some form of public intervention; and the institutions that broadcast this type of television.† (http://www.ofcom.org.uk/consult/) The BBC first started as a private company by manufacturers, whom in order to en courage their radio sales to the public, needed to go through a dependable foundation. The government therefore intervened in this new change, until 1926, when the Crawford Committee decided that the BBC should turn into a public corporation. The objective of this essay is to realise why the BBC has been linked with the public service for a great period of time. I will now begin the main part of the essay, where I will be discussing the history of the BBC followed by reasons to why it has been what it is. Firstly, let me shed light on the word broadcasting. Broadcasting is the transmitting of programmes to be heard simultaneously by an indefinitely large number of people-is a social invention, not a technical one. This form of conveying out messages started in the First World War, but was not yet completely recognised until the 1920s. Due to this recognition, in 1922 there was an increase in demand for applications in setting up broadcasting stations, which needed to be controlled. Quoted by one of the companys first employees, â€Å"the BBC was formed as an expedient solution to a technical problem. It owes its existence to the scarcity of air waves.† (Curran, 2003:110) In order to address the situation, rival manufacturers were persuaded by The Postmaster General to come together and join all the small broadcasting stations together into one station, which was The British Broadcasting Company. The BBC was to be financed by both tariffs and a licence fee, which after some time proved to be unsuccessful for the rapid expansion of the station. Listeners were building their personal sets with low-priced foreign components, and applying for new licenses. The BBC was not in favour of this and manufacturers were irritated that the production was not proving to be as cost-effective as it should have been. As a result of this, the Sykes Committee was established to help out. Two years later, the Crawford Committee accepted the essential need of a monopoly and proposed that the private company should be swapped with a â€Å"Public Commission operating in the National Interest.† (Curran, 2008:111) There were certain reasons to why the BBC was regulated, which we can consider. One of which, was that there was limited space on the frequency spectrum, which therefore meant that no organisations could appear freely without any government rule, so to limit this, the government had to step in. In other words, there were technological constraints. It was not technically possible to have numerous amounts of signals altogether, which could ultimately cause blockages. Further more, the Post Office were forcing all the electrical manufacturers to create a single system as it was finding it very difficult to control the private broadcaster who were transmitting messages freely without obtaining a licence from them. More over, being a more important reason was linked with the first managing director of the BBC, John Reith, whom believed that the aim of the BBC was to â€Å"inform, educate and entertain.† (Revue of the BBC Royal Charter, 2005:107) Being brought up within a Calvinism background, he viewed the world very differently and this increased his strengths and weaknesses on his view of broadcasting in general. â€Å"His duty as the managing director of a national company was to act in the national interest, which he interpreted along the lines of not broadcasting anything which might help to spread the strike and thus damage the nation.† (Sales, 1986:49) This quote therefore gives us the impression that according to Reith, the cultural life of Britain would improve, and whatever was to be shown should not only be done so to make the listeners happy, but at the same time to increase tastes and attitudes. Reith argued that the medium should be accessible to everyone, as he exp lained â€Å"There is no limit to the amount which may be drawn off. It does not matter how many thousands there may be listening; there is always enough for others.† (Curran: 2008, 113) For that reason, having a monopoly was crucial and support from the State was needed. Following on, we can also take the example of USA into account. The way in which the model of organisation was in USA was not accepted by Britain, as the Politicians thought it was inappropriate and were not fond of what they saw, and moved to other models. The way in which the BBC is funded needs to be examined as well. It is through the licence fee, under the Wireless Telegraphy Act, that enables the BBC to act in the public interest. This fee is paid by households and is undoubtedly a reason to why the BBC is a public service, as the public are paying and therefore the BBC should be publicly responsible. Apart from analysing some factors which donated to the function of a public service, the relationship which existed between the BBC and the State can be looked into as it could have a part to play in why the BBC was organised as a public service for so much of its history. The BBC was neither self-governing of, nor managed by the government and was sympathetic of any values and institutions that were given by parliamentary democracy. In general they had a good relationship between one another, but sometimes the bond between Reith and the state was unsettled. However, this did not stop both parties from taking into account â€Å"a shared interest in reaching a mutually acceptable modus vivendi.†(Khun, 2007:43) The General Strike in 1926 could also help to understand the relationship between the BBC and the State, due to it being a very crucial time for the BBC, as it was the first serious confrontation it had with the Government. This strike happened when the BBC was going through an important change. Due to the strike, which lasted for a period of nine days, newspapers were not being published and as result the whole country turned to the BBC. At this point in time the BBC was favoured by Winston Churchill, as he could see that the radio was a more adaptable method to communicate with the population and therefore asked the Prime Minister of that time, Stanley Baldwin to take control of the company. This decision was not in Reiths favour as according to him, the company was doing very well being independent with the public, whilst avoiding any control by the government. Nevertheless, this was not an unavoidable situation, as under the BBCs 1923 Wireless Broadcasting Licence, the governmen t had legal rights to have the BBC broadcast what it wanted. Before I finish off, it is worth noting that from the Second World War, it was an end of the BBC monopoly in broadcasting and a beginning of the duopoly, as ITV was then introduced. However, this did not stop the BBC from being highly regulated. It was still under government control. Due to the opening of ITV, there was an increase in the variety of broadcasting, which undoubtedly had caused competition between the BBC and its competitors. However, the BBC along with other public service channels were doing well, as they were â€Å"achieving the purposes of public service broadcasting† (Ofcom, Service Broadcasting Review:5) But we need to take into consideration the effect digital age will have on these methods of broadcasting. For example, consumers will have more choice, as they can watch or listen to whatever they wish via the internet. However it is considered that the BBC will â€Å"continue to make a strong contribution to the purposes of public service broadcasting, g iven its scale and the certainty of its finances to the end of digital switchover. (Ofcom, Service Broadcasting Review:6) As a final point, it is interesting to note that the only thing which comes close to the BBC in the UK is the NHS, both being a very unique and popular corporation, which has expanded an enormous amount since its first opening. BBC however started as a radio show and now provides eight TV services, ten national local radio stations and has the most admired website in the world. Therefore, what the future holds for the BBC is vital, as it is important that the Corporation keeps up to date with the digital age and technology, and more over the BBC should still remain to serve the citizens, especially the ones who pay for it through licence fees. According to the BBC Charter Review2006, the role of the BBC is â€Å"recognised and admired by the British public and extensive consultation on the future of the BBC has shown that the public want that role to continue† (Page 9) The Government have realised up to what level the publicly-funded broadcaster plays on everyday life, and as a result, it wants to keep it like this due to the gains license fee payers and society as a whole get out of it. In conclusion, it is possible to say that the BBC has had a positive outlook, being able to adapt to any change to audiences attitudes quite easily. It did remain a public service for a very long time until the 1980s, until the whole notion of public service was called into question. The Thatcher government wanted to test out the notion of public service with broadcasting, by introducing a new thought linked with consumer sovereignty. Nevertheless, the fact that the BBC stayed under government control for a period amount of time acting as a monopoly, showed that it was successful in many ways. Yet, there are contradictions which exist, as many believe that the BBC should be fully regulated by Ofcom, whilst others disagree with this fact, as to them Ofcom did not have the BBC in mind when it had its goals laid out and also it is a busy regulator. As a result of this, the solution is to make sure the BBC board of governors provide successful regulation of the BBC in order to prevent t he BBC being under Ofcom. Throughout this essay, I have explained factors to why for so much of its history the BBC was organised as a public service. In order to achieve an overall answer, we as readers need to reflect over the reasons to why it continued to have any input from the government, which I have previously discussed. There are no explanations which show us that the BBC was not doing well under regulation, as since its change from a private to a public corporation in 1926 till today, the BBC has been the most popular broadcasting company in the UK and should remain to do so in the future. Bibliography  · Curran, J. and Seaton, J. (2003, 6th edition) Power without responsibility, Routledge.  · Kuhn, R (2007) Politics and the Media in Britain, Palgrave.  · Sales, R. (1986) An Introduction to Broadcasting History, Longman.  · Ofcom, Service Broadcasting Review  · http://www.ofcom.org.uk  · www.bbccharterreview.org.uk A Public Service for all: The BBC in the digital age 2006.

Why Are Teenagers Stressed?

Why Are Teenagers Stressed? BY Testators Can you trust everything you see or hear now-a-days? The media Is full of constant propaganda, propaganda which brainwashes the minds of young people. Children as young as 3 are already worrying about their appearances, as seen on the television shows such as ‘Toddlers and Tiaras. ‘ I believe the media has a much stronger impact on teenagers than any other age group. Everywhere you go, there will always be that â€Å"look,† that celebrities have and that every young person aspires to look like.Teenage girls will go to all extents in order to achieve the media's perception of a beautiful woman, when in fact few teenagers know that what they are seeing In magazines and on billboards are not In fact real humans, but they are what society has created. When parents think their children are safe at home, they are wrong. Young people's minds are being filled with poison which is also known as the perfect image.Shows such as ‘ Keeping up with the Sardinian,' Toddlers and Tiaras,' ‘America's next top model,' ‘Jersey Shore,' and '16 and Pregnant,' are giving teenagers the wrong idea that you must be ‘slim, fake, very award, and covered In make-up' to be considered anything near beautiful. Shows such as these are giving the Impression that you must be a specific way to be successful and/or notorious. This already creates large numbers of very unconcealed women, as they feel they are not ‘beautiful, ‘because they are not covered in make-up.These types of situations create stress for teenagers as they feel they must look a certain way to be deemed beautiful. When asked, 87% of British teenagers claimed to be unhappy with their physiques and 64% of those under 13 had already turned to tenting In order to lose weight as stated by In the Dally Mall Newspaper article. Many teenagers are pressured by their families Into doing well in their GASES_ This makes them feel like they must do well in order to keep their families happy. I can speak from personal experiences when I say that I felt even more pressured because I knew that my family were expecting good grades from me.This creates a large amount of stress for teenagers as they feel they must do well in order to make their families proud and In order to go to university to get a good job. It is said by the majority of the elder generation that going to university means that you will have a better future as you will get a good Job, which entails a larger salary as opposed to someone who did not attend university. This is not necessarily true as people who do not attend university can still manage to get a well-paid Job. Also, family members may expect their child to do a specific profession which the child themselves does not want to do.This means that the teenager Is pushed into schools which allow the best support in he subjects which will open pathways to these careers. This can also create higher levels as s tress as teenagers are being forced Into doing a subject they do not wish to do, which makes it more challenging to succeed, thus creating more stress. The teenagers which come from working class families, unfortunately, have it a lot harder than those that come from middle class or upper class families. A working class teenager may be pressured by their families to get a job as soon as possible in order to help out their living situation.This can create stress because distributing enough mime for school and work can not only be exasperating but It can also be difficult. At the case for those which come from working class families. Not only can teenagers be stressed from working, they can also be stressed as they are being put into a situation where money is a problem and they are constantly living under the threat that certain necessities may be cut off due to an outstanding bill payment or something as extreme as being kicked out the house. Society has a large impact on the amount of stress that a teenager has.By society I mean all things surrounding hem, media (as I previously discussed), friends, and the general public. Whether you want to admit it or not, everywhere you go, everything you do, you are always being judged, by everyone. Many people are aware of this whilst others aren't. The fact that we live in a country where everyone is Judged by the color of their skin, the way they present themselves and by their appearances makes it a more difficult place to fully be accepted. This applies stress to young people as they feel they need to be accepted in society by becoming something that they are now.The factor which disheartens me the most is that in society you are expected to be a specific way In order to be accepted and if you are anything other than ‘perfect,' you are looked upon as ‘morally wrong. ‘ Which leads me onto my next point, the general public (specifically the older generation) has generalized teenagers as being anti-so cial and rude when in fact only a minority of teens are actually this. By generalizing an age group based upon a few individuals can make it more challenging for the younger generation to speak their mind and have their voices heard.This also creates stress by making teenagers feel as if they are not important because of what they are depicted as. To sum up, teenagers have many reasons to feel like they have a build-up of stress, but I believe the two main factors are family and education as most of teenagers spend the majority of their time either in school and/or in the presence of their families. This means that they are constantly being told what to do, what to achieve and what is expected of them. Which makes life as a teen more difficult than it needs to be.