in the social sciences assume that humans can be reasonably approximated or described as "rational" entities (see for example rational choice theory). Many economics models assume that people are on average rational‚ and can in large enough quantities be approximated to act according to their preferences. The concept of bounded rationality revises this assumption to account for the fact that perfectly rational decisions are often not feasible in practice due to the finite computational resources available
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History of Virgin Virgin Trains was born on 29th of November 1996 when it was awarded the Cross Country franchise following the privatisation of British Rail‚ the franchise will last until April 2012. Along with the Cross Country line‚ Virgin also won the West Coast franchise and took control on the 9th of March 1997‚ this franchise will end in March 2012. The West Coast line was the last but one of the franchises to be handed over to the private sector‚ all of which had been completed in less
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1. 2. A rational appeal in advertising ( refers cognitive strategy) means more emphasis is placed on providing factual information and specific details about product benefits. For example: Generic messages Preemptive messages Unique selling propositions The hyperbole Good example was DLR ‚ their messages have been very product focused‚ typified by ads for speed of recovery‚ get you home services‚ helpfulness of their staff and a range of ancillary products such as car finance‚ legal and advisory
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fully understand and impossible for them to fully control’ (The Times‚ n.d. p1). Virgin Atlantic is an international airline that is based in the UK. It was started by the entrepreneur Richard Branson in 1982 and now flies to 30 destinations around the world (Virgin Atlantic Airways Ltd‚ 2011). By looking at the PEST forces of Virgin’s external environment‚ the aim is to see how these influence the airline and how Virgin can use this information to their advantage. Two main political factors in Virgin’s
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The Rational Choice Theory states that crime is a rational decision to violate any law. It is made for many reasons‚ such as greed‚ revenge‚ need‚ anger‚ lust‚ jealousy‚ thrill-seeking or vanity. This theory has been passed down through many different time periods. During the early Middle Ages‚ there was superstition and fear that criminals were going through satanic possession. During the time of the Renaissance‚ they began to study human nature and behavior to figure out what causes criminal
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Amalia dos Ramos 17830176 Industrial Psychology 224 Ms L Bailey 24 March 2014 Assignment 2: Rational and Emotional Motives INTRODUCTION When consumers think of ice cream‚ majority picture the brand with the enormous red heart logo‚ OLA. From an indulgent classic Magnum ice creams to the delicious Rich ‘n Creamy‚ OLA offers a large variety of frozen treats*. Magnum was owned by a Dutch UNILEVER company and sold as part of the Heartbrand line of products in most countires.* Magnum was launched
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concept of rational actor: a. National actor‚ nation or government must have one set of specified goals‚ one set of options‚ and estimation of the consequences. b. The problem‚ action is chosen based on the problem that faced by the nation. c. Static selection‚ the representative of government has chosen the relevant solution toward the problem as the alternative outcomes. d. Action as rational choice‚ which are include the components below: The basic concepts of the action of rational actor are:
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DIVERSIFICATION The Virgin Group covers a wide range of industries But keeping the brand name in all of them is not a good strategy. This is because the brand Virgin originally stood for a particular set of products/services with its own brand image. But when it affixed it to every possible product/service that wasn’t necessarily related to the original product/service‚ it lost its value. The brand lost its brand image that it cannot deliver one particular message to its consumers as the products/services
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02/2013 RATIONAL AND EMOTIONAL SHOPPING Shopping is always a necessity in our lives. When we feel the necessity of something‚ we go shopping at that time. Before we do shopping‚ we have several motives that influence the kind of products we buy. These motives may be rational or emotional ones‚ consciously recognized or completely subconscious. Firstly‚ we can do rational shopping in different ways. In this way‚ it what we will buy can be long lasting. Rational shopping has got a lot
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Rational Choice Theory in Comparative Politics The field of comparative politics is one in which a variety of different approaches have been undertaken with varying results. Rational Choice in Comparative Politics attempt to devise a theoretical framework that explains the process of decision-making. The rational choice institutionalism was born out of the study of American congressional behavior. At the time scholars were trying to explain why congressional outcomes were considerably stable and
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