Brief review and explanation of Effort Justification Effort Justification is a theory of social psychology stemming from Festinger ’s (1957) theory of Cognitive Dissonance. Effort justification theory states that people have tendency to attribute a greater value to an outcome they had to put effort into obtaining. Cognitive Dissonance theory attempts to explain people ’s change of attitudes or beliefs when they face a dissonance between contradicting cognitions. Effort Justification theory is only
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TOO BIG TO FAIL Jamie Dimon‚ CEO‚ of JP Morgan Chase‚ attended an emergency meeting at the Federal Reserve Bank of New York on September 17‚ 2008. A dozen CEOs from rival firms were present-the meeting’s goal was to devise a plan to save Lehman Brothers‚ the nation’s fourth largest investment bank‚ from bankruptcy. Dimon knew Merrill Lynch and AIG were also in trouble. Many present at the meeting thought the government would step in and rescue Lehman Brothers. Dimon held a conference call
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other viewpoint on the bailout‚ stating that taxpayers shouldn’t be responsible for corporations that failed because it wasn’t the taxpayer’s fault that they failed to begin with. However‚ the name of the movie couldn’t be more correct. “To Big to Fail” is 100% right. Freddie Mac‚ Fannie Mae‚ and Bear Stearns are tremendous corporations that supply an invaluable product to the market. I believe that an increase in taxes is a small price to pay considering how bad things could have potentially been
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Citigroup Fails Fed’s Stress Test as BofA Gets Dividend Boost By Michael J. Moore and Elizabeth Dexheimer Mar 27‚ 2014 9:45 AM GMT+0545 - Comments Email Print AprJunAugOctDecFeb40.0045.0050.0055.0060.00* Price chart for CITIGROUP INC. Click flags for important stories. C:US50.16-0.14 -0.28% Related Citigroup‚ Four Other Banks Fail Fed Stress Test Citigroup Inc.’s capital plan was among five that failed Federal Reserve stress tests‚ while Bank of America Corp. won approval for its first
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This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research Volume Title: A Retrospective on the Bretton Woods System: Lessons for International Monetary Reform Volume Author/Editor: Michael D. Bordo and Barry Eichengreen‚ editors Volume Publisher: University of Chicago Press Volume ISBN: 0-226-06587-1 Volume URL: http://www.nber.org/books/bord93-1 Conference Date: October 3-6‚ 1991 Publication Date: January 1993 Chapter Title: The Collapse of the Bretton
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In the article “Why some schools are giving letter grades a fail‚” written by Erin Millar in April 2014 for the Globe and Mail newspaper‚ various perspectives of assessing students’ work is discussed. Millar begins by attributing the opinion of Ms. Wolfram‚ who is a parent of a student in Grade 2 as she states “some of were scared to change” after realizing that schools are slowly discontinuing to award letter grades in elementary schools. As technology continues to improve each year‚ the education
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Segregation was the predominant political challenge in the U.S. during the 1950’s and 1960’s. Though discrimination was considered socially acceptable at the time‚ civil rights activists began to assemble to combat prejudice. These activists utilized methods of peaceful demonstrations‚ unionization‚ and rides for freedom‚ to sway pro-segregation opinions. It may be argued these methods were successful as a whole‚ however; riding for freedom was the most significant in eliminating segregation because
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Topic: Never‚ never give up. Do you agree? In our life‚ we obviously meet with many difficulties. While some of us can successfully overcome their problems‚ there are also people who get failure and cannot continue their work. From my perspective‚ difficulties is an indispensable part in our life‚ and I strongly agree with statement ‘Never‚ never give up’. Initially‚ to never stop working for your goal is an effective way for you to enjoy your life as well as realize true values of it. It
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Version A Concordia University Department of Economics ECON 331 Section B Winter 2013 MIDTERM EXAM Name: ______________ Student ID: _____________________________ Mark: ___________________/70 marks Instructor: Faisal Rabby Feb. 28‚ 2013 Time Limit: 70 minutes MULTIPLE CHOICE: Circle the one alternative that best completes the statement or answers the question. (2x15 =30 points) 1) Which of the following can be described as involving indirect finance? A) People buy shares of a mutual fund
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Cheating refers to an immoral way of achieving a goal. It is generally used for the breaking of rules to gain advantage in a competitive situation. Cheating is the setting of reward for ability by dishonest means. And to fail is to repeat. There is a quote: “I would prefer even to fail with honor than win by cheating.” Sophocles. For example let’s take a Doctor: If someone becomes a doctor‚ and to pass his or her medical exams‚ that person cheated. And then in professional life that person has
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