A Literacy Review of The Prospect Theory: Why Has It Been Revolutionary and How It Has Changed the Way We Conceptualize Decision-Making Under Risk

To conclude, in this paper we discussed, in great detail, the revolutional axioms presented by Daniel Kahneman and Amos Tversky in 1979, namely the prospect theory. Prospect theory has forever changed the way we conseptualize the decision-making process under risk. The theory itself is divided into two separate phases; editing and evaluation phase. The most prominent part of the editing phase is coding, in which, decision makers change the meaning of, e.g., monetary sums of money, to more easily approachable form; gains and losses. This has been one of the biggest conceptual insights of this theory. However, as we established before, to review events in the light of gains and losses, they need to be in reference to something. In prospect theory, this was named as a reference point. The problem with coding (gains and losses) and the reference point is that, in the real-life applications, it has been unclear what a gain or loss represents in any given situation. This challenge remains unsolved. Addressing it is a key-challenge for the future of the prospect theory and its real-life applications. On top of this, prospect theorems strong suit has been the weighting function, which demonstrates the way in which decision makers over and undervalues mathematical probabilities. In figure 2, this is truly brilliantly demonstrated. This finding is to a great extent used in the field of, e.g., insurance since the uncertainty is an inherent part of the industry. The weighting function does also question the expected utility theorems axiom about a rational decision maker, because it shows how, even when decision makers are greatly exposed to the true mathematical probability, the anomalies of over and underweighting still occurs. Anomalies emerging from the evaluation of a prospect were greatly also noted by the value function. In the value function, it was demonstrated through empirical evidence, how decision makers were constantly feeling more pain (pleasure), from losing (gaining) an exactly equivalent monetary sum of money. In more conservative models, e.g., the expected utility theorem, this contradiction would be not possible. These emerged anomalies were truly hard to fathom within the economists and were, therefore, criticised extensively. The experiments were conducted multiple times, each time with more like real-life situations for the decisions made under risk. Even though the best efforts, these anomalies stayed. Because of this truly strong empirical evidence, the prospect theory is today widely recognized. The applications of this the prospect theory have been the most vital in the areas of finance and insurance since they are, in essence, concerned with situations involving uncertainty. This is why in these fields the prospect theory have naturally had a stronger foothold and also the framework has been adapted to the academic reasoning as well. In fact, this theorem has been an inherent part of the formulation in the field we today call behavioural economics. One of the first foot steps were made in that direction by Kahneman and Tversky and soon after by Thaler. In other fields, the theory itself has proven to be truly difficult to be modelled into a given situation at hand. There have been plenty of practical problems, one of which have to do in regard to the definition of the reference point. Despite this, during this millennium, successful attempts have been made and, therefore, the prospect theory has been more widely utilized. Thus, in the near future, we might be able to model the prospect theory to fit a larger range of applications. To conclude, the failure to endogenize all of the relevant variables at this stage of the prospect theory is a limitation of the theory but not a fatal flaw. Therefore, “we should see it as an opportunity to improve the theory rather than as a reason to reject it” (Rat Choice 1997). On top of that, the expected utility theorem is based on a normatively pleasing set of axioms, where as the prospect theory is mainly descriptive model, which has yielded inexplicable solid empirical evidence supporting this descriptive way of reasoning. When all this is taken into account, prospect theory has been a revolutionary descriptive model and even though it faces challenges in the real life applications, the potential behind the prospect theory is enormous

Toiminnallisen tasa-arvosuunnitelman toteutuminen Kids’ Valleyn päiväkodissa

Tämän opinnäytetyön aiheena oli tutkia, millä tavoin Hyvinkääläisen Kids' Valleyn päiväkodin toiminnallinen tasa-arvosuunnitelma toteutui päiväkodin arjessa. Opinnäytetyömme oli työelämälähtöinen ja se toteutetiin yhteistyössä Kids' Valleyn päiväkodin kanssa heidän asettamien tavoitteiden pohjalta. Kids' Valleyn päiväkoti oli syksyllä 2016 luonut uuden toiminnallisen tasa-arvosuunnitelman ja tarvitsi nyt ulkopuolisen tahon tarkastelemaan tämän toteutumista. Tutkimuksen aineiston keräämisen suoritimme havainnoimalla varhaiskasvattajien toimintaa päiväkodin arjen tilanteissa ja käytimme havainnoinnin apuna videokameraa. Havainnoimme päiväkodin arkea yhteensä 10 päivän ajan. Tänä aikana kuvasimme videomateriaalia yhteensä noin 20 tunnin edestä eli noin kaksi tuntia yhtenä kuvauspäivänä. Havainnointi toteutettiin kevään 2017 aikana. Havainnoinnissa keskityimme päiväkodin arjen tilanteisiin, kuten ruokailuun, pukemiseen ja ulkoiluun sekä pienryhmätilanteisiin. Peilasimme tilanteita Kids' Valleyn toiminnalliseen tasa-arvosuunnitelmaan ja teoreettisina viitekehyksinä käytimme teorioita tasa-arvoisesta varhaiskasvatuksesta. Teimme havainnointiemme sekä keräämämme videomateriaalin pohjalta videokoosteen Kids' Valleyn päiväkotiin missä toimme esille niitä heidän toiminnalisen tasa-arvosuunnitelmansa mukaisia asioita, joissa huomasimme poikkeavuuksia. Huomasimme päiväkodin arjessa varhaiskasvattajien asettamien rajojen olevan sallivampia tyttöjen kuin poikien suhteen. Poikia komennettiin selkeästi tyttöjä helpommin. Opinnäytetyöllämme saamiemme tuloksien avulla Kids' Valleyn päiväkoti lähti kehittämään toimintaansa tasa-arvoisempaan suuntaan.The purpose of this thesis was to explore how the functional equality plan of the Hyvinkää Kids' Valley day care centre was implemented in the daycare. Our thesis was based on working life and was carried out in cooperation with the Kids' Valley day care centre on the basis of their objectives.In the fall of 2016, the Kids' Valley day care centre created a new functional equality plan and now needed a third party to look into its implementation. The research was carried out by observing the activities of early childhood educators in the everyday life of the day care centre and we used a camcorder as a support for the observation. We observed the day care centre for a total of 10 days. During this time, we recorded video material for about 20 hours, about two hours on one shooting day.The observation took place during spring 2017. In the observation, we focused on everyday life situations of the day care centre such as eating, dressing and outdoor activities as well as small group activities. We mirrored the situations to the functional equality plan of Kids' Valley, and as theoretical framework we used theories of equal early childhood education. Based on our observations and the video material we collected, we made a video compilation to the Kids' Valley day care centre where we highlighted those things in their functional equality plan where we discovered abnormalities. We noticed that the limits set by early childhood educators were more per-missible for girls than for boys. The boys were clearly commanded more easily than the girls. With the results we have gained through our thesis, the Kids' Valley kindergarten started to develop their activities in a more equitable direction

Optical amplification by surface-plasmon-resonant Au grating substrates: Monolayer MoS2 with 170-fold second harmonic generation and 3-fold (off-resonance) Raman scattering

Funding Information: This work was made possible by the Au MG substrates developed, fabricated, and provided by the Xfold Imaging Oy company. The research was funded by various grants from Aalto University , Finland. Authors acknowledge funding from the Academy of Finland Flagship Programme, Photonics Research and Innovation , decision number: 320167. The experiments were conducted in Aalto University at the OtaNano – Micronova Nanofabrication Centre and in University of Helsinki at the Biomedicum Imaging Unit. Publisher Copyright: © 2021 The AuthorsNanoplasmonics is a potential game-changer in the development of next-generation on-chip photonic devices and computers, owing to the geometrically controlled and amplified linear and nonlinear optical processes. For instance, it resolves the limited light-matter interaction of the unique two-dimensional (2D) crystalline materials like semiconducting monolayer molybdenum disulfide (1L-MoS2). Metal grating (MG) substrates excel at this because their surface plasmons (SPs) can lead to stark field confinement near the surface. This work studies optical amplification of 1L-MoS2 on the gold (Au) MG substrate, which was designed to operate in a glycerol environment with SP resonance (SPR) at 850 nm excitation wavelength. Its design was verified by simulated and experimental reflectances, and topographically inspected by atomic force microscopy (AFM). Two advanced imaging modalities, second harmonic generation (SHG) and confocal Raman microscopy (CRM) were used to evaluate its 170-fold SHG on- and 3-fold CRM off-resonance optical amplifications, respectively. Some MoS2-to-grating adhesion issues due to trapped liquid showed as image nonuniformities. Possible improvements to limitations like surface roughness were also discussed. These Au MG substrates can boost conventional linear and nonlinear backscattering microscopies because they are tunable in the visible and near-infrared range by selecting geometry, metal, and environment.Peer reviewe

Kemikaalisuuronnettomuus : yhteistoimintaharjoituksen suunnittelu, toteutus ja arviointi

Opinnäytetyön tarkoituksena oli suunnitella, toteuttaa ja arvioida kemikaalisuuronnettomuusharjoitus yhteistyössä Päijät-Hämeen sosiaali- ja terveydenhuollon kuntayhtymän ensihoitokeskuksen kanssa. Opinnäytetyön tavoitteena oli ensihoitajaopiskelijoiden suuronnettomuuksiin liittyvän ammatillisen osaamisen sekä projektityöskentelyosaamisen kehittäminen. Kemikaalisuuronnettomuusharjoitukselle oli laadittu omat tavoitteet. Opinnäytetyössä kuvattiin suuronnettomuutta ja siihen varautumista sekä kemikaalisuuronnettomuuden erityispiirteitä. Lisäksi kuvattiin hälyttämistä, johtosuhteita, viestiliikennettä ja ensihoidon toimintaa suuronnettomuustilanteissa. Yhteistyötahojen varmistumisen jälkeen aloitettiin suuronnettomuusharjoituksen varsinainen suunnittelutyö. Suuronnettomuusharjoitus järjestettiin Lahdessa Niemen pelastusasemalla syyskuussa 2015. Harjoituksen suorittajina olivat PHSOTEY Ensihoitokeskuksen ja Päijät-Hämeen pelastuslaitoksen ensihoitajat ja Päijät-Hämeen pelastuslaitoksen palomiehet. Opinnäytetyön tekijöiden rooli oli toimia harjoituksen järjestäjinä ja tarkkailijoina. Potilaina toimivat Metropolia Ammattikorkeakoulun ensihoitajaopiskelijat eri opiskelijaryhmistä. Aiempien tutkimusten perusteella suuronnettomuusvalmiustaso ei ole riittävä. Tämänkin harjoituksen perusteella myös tulevaisuudessa on tarve harjoitella suuronnettomuustilanteita eri viranomaisten kanssa yhteistyössä. Tätä harjoitusta arvioitaessa suurimmat kehittämiskohteet liittyivät pelastuksen ja ensihoidon väliseen viestintään.The purpose of this final project was to plan, execute and evaluate a chemical mass casualty incident exercise in concert with Päijät-Häme Social and Health Care Group’s Emergency Medical Services Department. The aim of the final project was to advance our mass casualty incident related professional competence and develop our project working skills as paramedic students. The chemical mass casualty incident exercise had its own goals. In the final project we described mass casualty incident and its preparing methods and also the special features of a chemical mass casualty incident. Moreover, we described alerting, command structure, communication and emergency care in mass casualty incidents. We began planning for the mass casualty incident exercise after we had established the cooperation organizations. We executed the mass casualty incident exercise at a fire station in Lahti southern Finland in September 2015. The participants of the exercise were paramedics from Päijät-Häme Social and Health Care Group’s Emergency Medical Services Department and firefighters from Päijät-Häme Rescue Department. Our role in the exercise was to organize, observe and evaluate. The patients of the exercise were paramedic students from Metropolia University of Applied Sciences. According to previous studies the preparedness for mass casualty incidents is not sufficient enough. Therefore, based on our final project we conclude that it is vital to prepare for mass casualty incidents in the future by executing multi-organizational exercises. As we evaluated this exercise we reached a conclusion that especially the communication between different authorities should be improved