Summary of the learning points (ranked by importance to you) Today’s class discussed the mental accounting for money management. 1. Prospect theory. The theory can be represented by a value function‚ as shown below. The value function starts from a reference point‚ and is normally concave for gains‚ and convex for losses. It is also steeper for losses than for gains. The theory intends to explain why people behave irrationally when making choices. 2. Framing effect. It refers
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Definition of Ecopreneurship The term “ecopreneur” is derived from two terms which are “entrepreneur” and “ecology. An entrepreneur is a person who undertakes innovations‚ finance and business acumen in an effort to transform innovations into economic goods and who accepts the risks associated with them. (Schaper‚ Michael.2002) He can be anyone who identifies an opportunity in a market and has a belief that it would succeed in the economy and on that belief he starts exploiting the opportunity
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The research of organic food Yining Wang— Victoria Northwood University 2011/12/01 The research of organic food Organic foods are foods that are produced without using modern synthetic inputs such as synthetic pesticides and chemical fertilizers. (Wikipedia‚ 2011‚ para. 1). Some people think organic foods are healthier than the traditional foods‚ some people oppose this opinion. The most important difference between organic foods and traditional foods is the farming method. The different
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just looking at this we can see that local farming is very beneficial. But not only it is fresh and cheap‚ it supports the locals and reduces the environmental cost. First‚ it is beneficial for the consumers. Typical vegetables and fruits are usually picked 4 to 7 days before the distribution so in this period the products are kept in the freezing facilities. However‚ when you freeze the vegetables‚ their quality goes down. On the other hand‚ local farming provides fresh newly picked foods to the
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state that the US is currently in‚ we need an oil alternative‚ which is both economically friendly‚ and environmentally friendly. Algae farming tends to fall in both of these categories; what’s more‚ it is also efficient. For three very important rationales‚ I stand in a strong affirmation for this bill‚ in which we will fund algae farming. First off‚ Algae farming can be farmed realistically anywhere. There are very few requirements for algae biofuel. All biofuels that are created from land plants
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Dairy Farming 1. Introduction Dairying is an important source of subsidiary income to small/marginal farmers and agricultural labourers. The manure from animals provides a good source of organic matter for improving soil fertility and crop yields. The gobar gas from the dung is used as fuel for domestic purposes as also for running engines for drawing water from well. The surplus fodder and agricultural by-products are gainfully utilised for feeding the animals. Almost all draught power for
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Prospect Theory: An Analysis of Decision under Risk Daniel Kahneman; Amos Tversky Econometrica‚ Vol. 47‚ No. 2. (Mar.‚ 1979)‚ pp. 263-292. Stable URL: http://links.jstor.org/sici?sici=0012-9682%28197903%2947%3A2%3C263%3APTAAOD%3E2.0.CO%3B2-3 Econometrica is currently published by The Econometric Society. Your use of the JSTOR archive indicates your acceptance of JSTOR’s Terms and Conditions of Use‚ available at http://www.jstor.org/about/terms.html. JSTOR’s Terms and Conditions of Use provides
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People often contribute to the practices of factory farming and ignore the negative effects it produces. Factory farming does not just harm animals‚ but also the environment and humans. Society tends to avoid the dangerous impacts of the companies. Animals used in factory farms‚ suffer because the company neglects the welfare of the animals in order to maximize their profit (PETA). They cram as many factory animals as they can into small spaces get more money. Chickens‚ pigs‚ cows‚ and turkeys stay
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Marketplace Characteristics of U.S. Organic Sector The U.S. organic food industry crossed a threshold in 2000: for the first time‚ more organic food was purchased in conventional supermarkets than in any other venue. Industry estimates suggest that nearly half of the $7.8 billion spent on organic food in 2000 was purchased in conventional retail outlets. Organic products are now available in nearly 20‚000 natural foods stores (Natural Foods Merchandiser)‚ and are sold in 73 percent
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Urban Farming Our country is encountering rapid urbanization‚ which is increasing urban poverty in countries across the United States as well as in many other parts of the world. A Bill trying to be passed by the U.S. senate states “Dramatic economic‚ demographic‚ and land use changes in the United States have created areas where no supermarkets exist and where limited food choice‚ poor food quality‚ and lack of affordable food prices impact large segments of the country’s population.” It is
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