Conflicts of Interest in Financial Intermediation

The last years have seen a surge of scandals in financial intermediation. This article argues that the agency structure inherent to most forms of financial intermediation gives rise to conflicts of interest. Though this does not excuse scandalous behavior it points out market imperfections. There are four types of conflicts of interest: personal-individual, personal-organizational, impersonal-individual, and finally, impersonal-organizational conflicts. Analyzing recent scandals we find that all four types of conflicts of interest prevail in financial intermediatio

Konflik Anna Fitzgerald Dalam Novel My Sister's Keeper Karya Jodie Picoult

“My Sister's Keeper” is one of the Jodie Picoult's masterpieces that was chosen as the object of the writer's research. This research entitled, “Anna Fitzgerald's Conflicts in the Novel My Sister's Keeper by Jodie Picoult aims to identify Anna Fitzgerald's inner and physical conflicts in the story, and the cause and effects to Anna Fitzgerald. The writer used Buehler's theory (1998) dealing with conflict style to analyze the inner and physical conflicts of Anna Fitzgerald in the novel. In addition to Wellek and Warren's theory (1964) was used to find the relation of literature and psychological aspect by analyzing the causes of the conflict and effects to Anna Fitzgerlad which are successfully depicted by Jodie Picoult in her novel My Sister's Keeper. The data were collected from the novel focusing on conflicts by identifying inner and physical conflicts, and the cause and effects to Anna Fitzgerald. The identified data were analyzed by using intrinsic and extrinsic approaches. The Intrinsic approach was used to analyze the plot of the story and the character of Anna Fitzgerald. The extrinsic approach was used to analyze the psychological aspect in this case cause and effect to Anna Fitzgerald. The result of this research reveals that Anna Fitzgerald as the main character in the novel My Ssiter's Keeper experiences two types of conflicts; inner conflict and physical conflict that affected her life; this inner and physical conflicts are caused by her sister's illness that leads to physical, psychological, or mental effects on Anna Fitzgerald and also her behavior

To Choose or Not to Choose: Contracts, Reference Points, Reciprocity, and Signaling

Hart and Moore (2008) argue that varying degrees of flexibility in contracts induce differing reference points and aspiration levels for parties' shares of a transactions total surplus. As a consequence, a trade-off between adaptational flexibility and the prevention of distributional conflicts emerges. In a recent paper Fehr et al. (2009b) analyze a buyer-seller-relationship with incomplete contracts and ex ante uncertainty about the sellers' cost level to test these effects. We rerun their experiment and introduce another treatment with exogenously determined contract types. Like FHZ we find reference point effects in both treatments. However, uncooperative shading behavior in our treatments differs substantially from the one described in FHZ. Furthermore, it makes a significant difference whether contract types are determined by buyers or determined exogenously. We explain this by introducing two further effects, a reciprocity effect and a signaling effect

Changing, priming, and acting on values: Effects via motivational relations in a circular model

Circular models of values and goals suggest that some motivational aims are consistent with each other, some oppose each other, and others are orthogonal to each other. The present experiments tested this idea explicitly by examining how value confrontation and priming methods influence values and value-consistent behaviors throughout the entire value system. Experiment 1 revealed that change in 1 set of social values causes motivationally compatible values to increase in importance, whereas motivationally incompatible values decrease in importance and orthogonal values remain the same. Experiment 2 found that priming security values reduced the better-than-average effect, but priming stimulation values increased it. Similarly, Experiments 3 and 4 found that priming security values increased cleanliness and decreased curiosity behaviors, whereas priming self-direction values decreased cleanliness and increased curiosity behaviors. Experiment 5 found that priming achievement values increased success at puzzle completion and decreased helpfulness to an experimenter, whereas priming with benevolence values decreased success and increased helpfulness. These results highlight the importance of circular models describing motivational interconnections between values and personal goals

Age of second language acquisition affects nonverbal conflict processing in children : an fMRI study

Background: In their daily communication, bilinguals switch between two languages, a process that involves the selection of a target language and minimization of interference from a nontarget language. Previous studies have uncovered the neural structure in bilinguals and the activation patterns associated with performing verbal conflict tasks. One question that remains, however is whether this extra verbal switching affects brain function during nonverbal conflict tasks. Methods: In this study, we have used fMRI to investigate the impact of bilingualism in children performing two nonverbal tasks involving stimulus-stimulus and stimulus-response conflicts. Three groups of 8-11-year-old children - bilinguals from birth (2L1), second language learners (L2L), and a control group of monolinguals (1L1) - were scanned while performing a color Simon and a numerical Stroop task. Reaction times and accuracy were logged. Results: Compared to monolingual controls, bilingual children showed higher behavioral congruency effect of these tasks, which is matched by the recruitment of brain regions that are generally used in general cognitive control, language processing or to solve language conflict situations in bilinguals (caudate nucleus, posterior cingulate gyrus, STG, precuneus). Further, the activation of these areas was found to be higher in 2L1 compared to L2L. Conclusion: The coupling of longer reaction times to the recruitment of extra language-related brain areas supports the hypothesis that when dealing with language conflicts the specialization of bilinguals hampers the way they can process with nonverbal conflicts, at least at early stages in life

Pro-active Meeting Assistants: Attention Please!

This paper gives an overview of pro-active meeting assistants, what they are and when they can be useful. We explain how to develop such assistants with respect to requirement definitions and elaborate on a set of Wizard of Oz experiments, aiming to find out in which form a meeting assistant should operate to be accepted by participants and whether the meeting effectiveness and efficiency can be improved by an assistant at all. This paper gives an overview of pro-active meeting assistants, what they are and when they can be useful. We explain how to develop such assistants with respect to requirement definitions and elaborate on a set of Wizard of Oz experiments, aiming to find out in which form a meeting assistant should operate to be accepted by participants and whether the meeting effectiveness and efficiency can be improved by an assistant at all

Simulating the Impact of Traffic Calming Strategies

This study assessed the impact of traffic calming measures to the speed, travel times and capacity of residential roadways. The study focused on two types of speed tables, speed humps and a raised crosswalk. A moving test vehicle equipped with GPS receivers that allowed calculation of speeds and determination of speed profiles at 1s intervals were used. Multi-regime model was used to provide the best fit using steady state equations; hence the corresponding speed-flow relationships were established for different calming scenarios. It was found that capacities of residential roadway segments due to presence of calming features ranged from 640 to 730 vph. However, the capacity varied with the spacing of the calming features in which spacing speed tables at 1050 ft apart caused a 23% reduction in capacity while 350-ft spacing reduced capacity by 32%. Analysis showed a linear decrease of capacity of approximately 20 vphpl, 37 vphpl and 34 vphpl when 17 ft wide speed tables were spaced at 350 ft, 700 ft, and 1050 ft apart respectively. For speed hump calming features, spacing humps at 350 ft reduced capacity by about 33% while a 700 ft spacing reduced capacity by 30%. The study concludes that speed tables are slightly better than speed humps in terms of preserving the roadway capacity. Also, traffic calming measures significantly reduce the speeds of vehicles, and it is best to keep spacing of 630 ft or less to achieve desirable crossing speeds of less or equal to 15 mph especially in a street with schools nearby. A microscopic simulation model was developed to replicate the driving behavior of traffic on urban road diets roads to analyze the influence of bus stops on traffic flow and safety. The impacts of safety were assessed using surrogate measures of safety (SSAM). The study found that presence of a bus stops for 10, 20 and 30 s dwell times have almost 9.5%, 12%, and 20% effect on traffic speed reductions when 300 veh/hr flow is considered. A comparison of reduction in speed of traffic on an 11 ft wide road lane of a road diet due to curbside stops and bus bays for a mean of 30s with a standard deviation of 5s dwell time case was conducted. Results showed that a bus stop bay with the stated bus dwell time causes an approximate 8% speed reduction to traffic at a flow level of about 1400 vph. Analysis of the trajectories from bust stop locations showed that at 0, 25, 50, 75, 100, 125, 150, and 175 feet from the intersection the number of conflicts is affected by the presence and location of a curbside stop on a segment with a road diet

Labor Relations Conflict in the Workplace: Scale Development, Consequences and Solutions

Because the goals of employers and employees are often incompatible, conflicts are inevitable and an essential part of organizational life. The three studies reported in this paper addressed the issues of identifying the dimensions of workplace conflicts within organizations, exploring the consequences of conflicts, and finding appropriate methods of conflict resolution. The first study identified and developed three dimensions of labor relations conflict, including interest-based, rights-based, and emotion-based conflicts. The second study explored two sets of individual outcomes of labor relations conflicts and found labor relations conflicts had a negative effect on employee job satisfaction and affective commitment and positive effects on employee turnover intention and counterproductive work behavior. The third study tested the effectiveness of partnership practices as an alternative method of resolving labor relations conflicts. Suggestions are offered for future research on the labor relations conflict dimensions as well as its outcomes and solutions introduced in these studies