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Psc essay questions

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Essay: Jack Welch as a transformational leader. Leadership is the collective action of everyone to influence. One’s behavior actions and words determine how he or she will influence ( Scott, 2005). In my paper, I will explore the psc essay important concept of leadership and more particularly transformation leadership. I will discuss the transformational model of leadership as I base Jack Welch as a good example of such a leader in kings the modern workplace. Psc Essay? From the research it will come out clearly that leadership styles and essays inequality, capabilities that are associated with effectiveness, leadership competencies have been essential to psc essay all organizations. Leadership is basically the collective action of anyone to influence.

Ones behavior actions and words determine how he or she can influence. (Scott, 2005). As such, a leader is someone who guides other in doing what is required but does not command them. On Income Inequality? On the psc essay questions same note, leader is born but not trained. Through his captivate nature, something that is well brought about by his visionary nature, he has been able to transform his company to the next level. Transformation is all about the ability of the all the kings leader to be an influential figure, motivational factor and the capability of empower others into putting an effort into effectiveness of their organizations. More research thus needs to be done regarding what leadership entails especially in the modern working environment that gets complex with time. Type of leadership #038; Core competencies. An understanding of the main qualities that make a leader is vital as it is the qualities that bring out the different kinds of leaders. Emerging approaches on leadership tend to be result-oriented and driven. Charismatic leader’s exhibit ambitious move and are aware of the main aims and are able to communicate effectively .Leaders have Strong moral and self-discipline.

Charisma attracts people around and provides for chances of competition thus success attributive nature of leaders ten to link all happenings to specific cause. An approach of exchange relationship between leaders and the led bring closer faster development and psc essay, goal achievement. Good Thesis Sentence Flies? Transformative leaders tend to be the psc essay questions most popular type of leaders in that they forego personal need is for on income, the benefit of the general community. Transformational leaders can be identified as people who recognize potential in their subordinates and help in developing it. Transformational type of leadership is identified by psc essay questions mentoring and empowering employees to paper social contribute. This is illustrated here in psc essay questions the diagram. Transformational leaders pay attention to ielts worries also developmental wishes of their followers, help them in looking at old problems from questions, new perspectives, and on climate change, have the ability of exciting and inspiring followers towards achieving organizational goals.

Joseph (2010) denotes that transformational type leadership, if contrasted with transactional leadership appears to psc essay questions be strongly associated with lower forms of turnover rates, increased productivity besides employee satisfaction. Transformational leaders are viewed by superiors as being more competent, higher performers and more promotable. Jack Welch as a Transformational Leader. Having joined GE in 1960, Jack Welch was in 1981 named CEO of GE. In the early years Jack Welch as CEO initiated a plan of restructuring that consisted of cuts in all the kings massive jobs, placing the many businesses in number one or in number two according to various respective segments and unprofitable ones could be sold.

Jack Welch although celebrated as the psc essay leader of the global manufacturer, always famous for the technological prowess, he utilized the essays on income actual human process in bringing change into the vast GE organization. Showing respect to every individual because of the essential force brought towards organizational change, Jack formed the model of extraordinary performance which each leader of a corporate may learn from. Under Jack’s leadership, the managers have a varied range of latitude that can help build the GE units in the entrepreneurial fashion. Being determined in harnessing the joint power of the employees of questions, GE, Welch also had to redefine the correlation between subordinates and generation gap essay ielts, the boss. An individual being the source of innovation and creativity as written by Welch, people should have to agree that the better way that one can manage a group of people is by just going out of their own way. Welch developed a 4 E leadership model; the E’s here are acronyms to the following as discussed next. i. Energy- ‘go, go, go’ is the motto of the individuals who have energy. These people have energy that is psc essay, not bound and always get up early each day ready to essay face any job. ii. Energizers-these people know how to make others perform. They always outline visions and in psc essay many occasions get people who will perform it.

They know how to excite people about a crusade or a cause. They give others credit selflessly when thing are right but when wrong they accept responsibility quickly. iii. Edge-these are the competitive type. On Climate Change? They know well how to make difficult decisions, for questions, instance, hiring, promoting and firing stand their way. iv. Execute-the essential one to persuasive essay the whole model. Without good results, other e’s have little use. The executers recognize when productivity and activity ain’t same. They are also capable of psc essay, changing edge and energy into work and results.

A Case study on the 2 -decade transformation of General Electric under the leadership of Welch. In 1981, as the Chief Executive Officer, Jack Welch’s mission was to give more energy to the General Electric, one of the good sentence largest companies in America. By just reviewing the company’s mission and values, he made GE to experience an increase in the capital base from USD 24 billion to USD 74billion which formed a good base for psc essay, the readiness to meet more competitors among other predicaments in the future. He focused on the realignment of the objectives and the motivation hence making the managers stretch to limits that were previously unknown. Firms that did not merit to either the first or second positions in performance in the industrial development were met by blows such as divestment or faced closure. Though at some point he was termed as a destroyer, he is known to have caused a great impact in the restructuring of the GE to become one of the persuasive best corporate organizations globally. The management and motivation structure of questions, Jack Welch entailed three major areas: i. He set the goals and prepared the firm on a corporate basis for essays on income inequality in america, the purposes of the competition challenges; ii. He also set to empower all the workers at all the levels of the organizations; and.

iii. Ensuring that there was a communication of the new goals and visions via the whole organization by way of communication tools, for psc essay questions, instance, extensive programs of training, forming new teams as well as the on climate 3600 review processes. In the mind of Welch, he purposely had the vision of transforming and creating a firm which will have people at all the levels being held accountable for their deeds, and in the long run help in making decisions which will make the work better. His motive was not to control the psc essay employees but to essay change liberate the workers. Welch termed this as forming an organization from barriers and one that will facilitate employees to questions have self-direction and motivation to enhance realization of their goals. He had discovered that GE was being run the same way it was organized many years since its incorporation near the turn of century. Welch found out that the company was specifically represented by an overwhelming nine stacks of management that lay between the shop floor and the CEO. The bureaucracy enhanced a non-responsive and an inward focus in the company where the workers had a hell of time in essays communicating with one another. Psc Essay Questions? As a matter of fact, had it not been that Welch caused a massive cost restructuring in the GE, the analysts had projected that the GE would plunge into a hole of good thesis lord flies, losses by the end of the year 1982. In addressing the issue of GE falling into unproductive business, Welch did a complete overhaul of the management structure and thus eliminated all the layers of management, consolidated the jobs that seemed to overlap and the business units and questions, made all the workers at every level to generation be held accountable for their work. They put to a halt to gathering unnecessary data as relates to questions finances and also did away with reports that were regarded as unnecessary.

Previously, the business managers usually requested for daily reports that contained much detail that often caused a chunk of a high stack of paper which made the essay sheer mass of psc essay, detailed pieces of information impossible to be mastered thus making the information useless. In relation to the firm equipment, the operators started being accountable for the quality and standard of lord flies, their work thus reducing the essence of having the inspectors. The net effect was that the psc essay workers had the chance of to get rid of the aspects of their work that was not productive as well as unnecessary. The most significant thing is that this has been the Work-Out plan that has led to the opening of the communication channels that helped the inception of innovative change. Currently, the Welch favors the Work-Out which to him is an empowerment concept.

A great number of employees in GE get a chance to gap essay be together to share ideas and thoughts as well as the know-how amid building and fostering a creative and teamwork environment. The plan facilitates communicating within the psc essay questions firm and responsibility with the paper social ultimate goal being to drive above team performance. Psc Essay Questions? The rationale of giving the members the chance to table their ideas in the decision making was to promote individual openness and enable them to constructively challenge their leaders thus promoting a more motivated working environment. This was thus a management strategy that was a success to Welch. All the paper Work-Outs involved the follow-up activities where the commitments previously assigned were deliberated upon and the issue of accountability was enforced. The concept of empowerment has been of two types. Psc Essay Questions? First, the workers are actually satisfied by the fact that they are allowed to give out their concerns and second, the company has been able to benefit from the insights that are usually shared in the Work-Outs. Under the auspices of the CEO, Welch, the GE realized that people are not like machines however each person has the potential of enhancing productivity. Format Research Paper Social Sciences? Knowledge of how best to use the human resource gives the company a competitive edge as well as making the worker feel an air of importance in psc essay the process of production and thesis sentence lord, generally feel motivated.

In as much as it is hard to determine and measure the importance of psc essay, empowerment, the GE has the belief that the format research paper social sciences company’s success in the future will ultimately indicate that it was a right move to have been made. The significant point is to investigate the way leaders like Welch is able to questions make the decisions that empowerment is the right mechanism and how they generally decide that as the persuasive and assignment best mechanism for their firms. In order to encourage the setting of goals and empowerment within the GE, Welch just needed to psc essay questions influence the establishment of vivid lines of communication in the firm. Essay? He had realized that many workers came to GE from different backgrounds and skills. However he did not want to psc essay questions take them for granted and reshaping them with the philosophy of GE but wanted them to be free thinkers. He encouraged the art of free thinking and therefore challenges the status quo. The concept of open communication is of essence in GE since it facilitated his objective of motivating the workers to think outside the persuasive box. Psc Essay? This is because the channels work in both directions and thus give the workers the chance to air their grievances and thus work towards creating a consensus for action. It also helps in the motivation of the workers since that inculcates the feeling of directly contributing to the success of the company. Cultural change processes. The Work-Out process in the GE was formed in 1988 as part of the drive for better productivity and efficiency.

In the initial stages, the intention of the Work-Outs was for essays on income inequality, the identification and elimination of the unwanted processes that were left over from the past years where the management structure contained more layers. Upon the process of restructuring, a lot of groups performed more work with lesser workforce as compared to making comprehensive operational changes. The Work-Out process involved the identification of an area of need improvement and putting people together from all the sides of the design process, marketing process, production process as well as the sales process to identify a better method. The Work-Outs discuss the questions issues and put some recommendations on record (Richard, 2009). The recommendations are then presented to format paper social sciences the managers who are accountable such that they may accept or reject the proposals at the instance. The whole process leads to psc essay responsive leadership and a greater rate of change in the organization. During the inception of the Work-Out, numerous groups attacked the things that did not seem to make sense in the new GE. Essay On Climate Change? As the Work-Out plan underwent evolution, the customers and partners of supply were incorporated in the process. Questions? The plan is currently part of the day to day life in GE. Jack Welch will be remembered for causing changes such as: ‘ Merger #038; Acquisition- he is remembered to have made around 200 mergers and acquisition with his first acquisition with Hungary Lighting in 1989 and the reason behind the success of the mergers was the incorporation of the integration model.

This facilitated the future of GE. ‘ Delayering- on assuming office as CEO, Welch saw the degree of the large bureaucracy in GE. There were a lot of managers and on climate, thus he embarked on the removal of the whole system of management which formed Welch’s hardware revolution. He dismantled the walls of separating the manufacturing and marketing functions within the GE. ‘ E-initiative- upon assuming office, Welch recommended that everything in the GE be made digital. Psc Essay? This, according to him, was an important step towards making the firm faster and agile. The digitalization facilitated sales of up to USD 8 billion in gap essay ielts 2000 through the internet. The e- initiative also helped the GE to psc essay questions save on the operational costs.

‘ Globalization- According to him, GE should be moved to the global arena in order to enhance competition. Therefore in 1980s, GE started a revolution to ensure placement of GE in the global markets. With the key growth initiative, the concept of globalization has had a role in helping GE rise at almost a double digit in rates. Currently, globalization is a major component of the GE fabric. ‘ GE Six Sigma Quality Coach- GE is an gap essay, internet based mentoring program that facilitates in the training of the GE workforce on the quality initiative (Kim, 2009). This is a significant tool that helps GE achieve the Six Sigma Quality.

‘ Work-Out- this was Welch’s cultural initiative that was responsible for the changing of attitudes and behaviors within the psc essay questions GE. The Work-Out made sure that the management listened to employees giving them a voice the lord flies making of decisions. Work-Out is credited for having caused a culture devoid of boundaries which was helpful in creating GE’s learning engine. The few simple ideas that Jack’s attitude of management break into psc essay are; ensuring flow of free information in the whole organization, hierarchical break down and to encourage people to speak, hear and feel free to the new ideas. At the age of 36 when Jack first became the vice president in GE he received every person’s call when a problem arose regardless of the persons post and on climate change, this was the organization which Jack built in terms of organizational communication. Jack successful transformed the contented behemoth to a strong company that is prepared to face the competition of the world. ‘ By getting out layers of the bureaucracy who are not necessary and organization flattening, Jack enlightened the psc essay questions employees and also empowering them in sentence lord flies making decisions and an effect to their jobs, also the whole company. Also he relied on satisfaction slope and the stretch goals to push further to achievement of questions, new goals in the company. ‘ Relaying via the various communication means, motivational mediums and training there was an addition of empowerment.

Welch also underlined all his words to accompany actions and also exemplary attitude. Lord Flies? By use of 3600 review process, suitable bonus schemes and psc essay questions, the structural changes in the organization, Jack formed and started channels of communication at GE which allowed for networking that was unprecedented, openness and teamwork to be seen at GE. ‘ Every factor combined to form motivational force for all the employees in GE. In turn, the motivation also leads to an outstanding performance in General Electric Corporation and Jack Welch. In conclusion, a leader is someone who guides other in doing what is required but does not command them. Transformation is all about the ability of the leader to and assignment be an influential figure, motivational factor and the capability of empower others into putting an effort into effectiveness of their organizations. It is also clear that emerging approaches on questions, leadership tend to be result-oriented and kings, driven. Charismatic leader’s exhibit ambitious move and are aware of the main aims and are able to communicate effectively .leaders have Strong moral and self-discipline. Charisma attracts people around and provides for chances of competition thus success attributive nature of psc essay, leaders ten to link all happenings to specific cause. An approach of exchange relationship between leaders and the led bring closer faster development and goal achievement. Transformative leaders tend to essay and assignment be the most popular type of leaders in that they forego personal need is for the benefit of the general community.

Joseph G.2010. Residential Construction Management: Managing According to the Lifecycle. J. Psc Essay? Ross Publishing.pg121. Richard D.2009.Management. Cengage Learning.pp514-15. Credit Suisse (Research Institute).2012. Gender diversity and corporate performance. Zurich, Switzerland, 13 July 2012. Credit Suisse AG.

Scott N . Essays? 2005. Questions? Executive Leadership for Effective Administration. Pearson/Allyn and Bacon. Kim H. 2009. Gap Essay? Six Sigma for psc essay, the New Millennium: A CSSBB Guidebook’s Quality Press. Marc H . 2004. High Performance Teams: How to Make Them Work. Greenwood Publishing Group. Search our thousands of essays: If this essay isn't quite what you're looking for, why not order your own custom Management essay, dissertation or piece of coursework that answers your exact question?

There are UK writers just like me on hand, waiting to help you. Each of us is qualified to a high level in our area of expertise, and we can write you a fully researched, fully referenced complete original answer to all the man essay your essay question. Just complete our simple order form and you could have your customised Management work in your email box, in as little as 3 hours. This Management essay was submitted to psc essay us by a student in order to help you with your studies. This page has approximately words. If you use part of this page in inequality in america your own work, you need to provide a citation, as follows: Essay UK, Essay: Jack Welch as a transformational leader . Available from: [04-10-17]. If you are the original author of psc essay, this content and no longer wish to have it published on our website then please click on gap essay ielts, the link below to request removal: 21-12-16 - Public relations 06-11-16 - Total safety management 05-11-16 - Public Relations and Crisis Management in questions Tertiary Institutions 03-11-16 - Talent management 26-08-16 - Internal and external factors that can affect the supply chain management - Cultism in tertiary institution 28-07-16 - Organisational Behaviour 29-06-16 - Logistics survey 05-03-16 - Differences between leaders and managers 04-03-16 - Mass production of goods and work flow. We offer professional custom essay writing, dissertation writing and coursework writing service.

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Unit 3: Argumentative Essay on Males in the Nursing Profession. This piece is very close to my heart, not because I want the nursing field to become dominated by males, but because I am a prospective nursing student who hopes that one day, this profession would lend itself to psc essay questions, an equal work environment. The goal of this piece is to explore how the research paper social nursing industry, as well as the society, has been changing to attract more males to enter the nursing piece. Psc Essay! In my opinion, this piece is very much worth the read because it reveals many things that one might not have thought about before in the field of nursing. DO YOU THINK THE SAME? As a prospective nursing student, I automatically look over and admire those students I see on all the campus wearing their green scrubs.

The students proudly wear such uniform as they serve as an embodiment of questions, being a part of the inequality in america university’s nursing school. Interestingly, I have noticed that often times, the psc essay questions proud model of these green scrubs on format research paper sciences campus are female students. Questions! Even in hospitals, rarely do I see males wearing nursing scrub suits. Historically, nursing has been a professional occupation often associated with femininity. Demographically, statistics show that indeed, this profession is comprised overwhelmingly by females. Essays Inequality! Because of psc essay questions, these, many claim that males are discriminated upon in this field or that there exists a gender bias in nursing. However, the small percentage of male nurses in the US is slowly growing. This is because the nursing field has transformed in many ways to accommodate its growing demand of on climate, healthcare providers. The nursing industry in questions the US has become more attractive to essay on climate change, male nurses because of the economic stability the job provides, the shifting of gender norms associated with nursing and psc essay questions the greater opportunities to man essay, hold leadership positions, thus encouraging more male nurses to join the field and even have an advantage if they choose to psc essay, do so.

The economic stability that the essays on income nursing profession offers has been an encouraging factor in the recruitment of male nurses. Sheila Dewan, a National Economy Reporter at psc essay New York Times, says that more and more men are attracted to “pink-collar jobs” such as nursing because of the essay on climate job’s stability (2012, p. A1). She also points out that the economic recession in the US has greatly affected male nurses in their choice of career because jobs held by men such as business managers or even CEO positions are jeopardized by fluctuations in the economic trends. Meanwhile the need for nurses will continue to psc essay questions, be in high demand especially because 40% of the nursing workforce will retire in the next 20 years (Jones and Gates, 2004, p. 618). In 2004, Cheryl Jones and Michael Gates, associate professors in gap essay school of nursing in University of North Carolina Chapel Hill and University of San Diego, identify nursing as the “single largest group of health care professionals” and that they are needed “24 hours a day 7 days a week” (p. 615).

Because of this, it remains as one of the most stable as well as flexible jobs in the workforce. This job stability, thus, leads to financial security which plays a crucial part in the roles that males play as their family’s provider; therefore, more and more males enter nursing. Besides the psc essay questions job stability it provides, another economic advantage males have in nursing lies in persuasive the mean nursing wages. Questions! Research shows that males have higher mean wages than females in the nursing field. On Climate Change! As a part of their research on nursing wage difference in 2004, Jones and Gates reveal data from Bureau of Labor Statistic showing that from every dollar that a male nurse earns, a female nurse only earns $0.77 (p. 618).

In 2001, the mean hourly wage of a female with a nursing degree was at $24.00 while a male with a nursing degree was at $27.00 per hour (Jones and Gates, p. 618). Psc Essay Questions! Although it is acknowledged that male nurses are more likely to work as full-time nurses than their female counterparts do, it is still quite surprising that such a difference in the wages exists. It shows that the small portion of male nurses in the nursing population have the economic advantage. This questions the preconception that gender bias exists in nursing to favor the change female population for clearly when it comes to psc essay, monetary rewards, male nurses gain the greater advantage. Not only do male nurses have advantage in mean wages, they also have more opportunities to hold positions higher up in the ladder of the nursing career. . Generation! In 2012, Caryl Rivers and Rosalind Barnett, Forbeswoman journalists, describes an instance called “glass escalator” (p. 1). This is an instance where male nurses tend to be given quicker promotions to fill leadership positions in nursing compared to their female counterparts.

Since males are more likely to psc essay, work full time and less likely to request for personal leaves compared to female nurses, most hiring managers are more likely to promote male nurses than female nurses who started at the same time (Barnett and Rivers, 2012, p. 1). Also, most hiring managers will more likely to hire a male nurse over a female nurse for the same reasons if given an option (Edwards et al, 2002, p. 308). This leads to employers seeing male nurses as more committed to their jobs and thus, more deserving of higher wages and and assignment quicker promotions. Additionally, most of the higher positions in psc essay nursing such as nurse anesthetists or nurse practitioners are also held by male nurses (Edwards et al, 2002, p. 314). Although these positions do require more years of training and education, it is still surprising how the small portion of males in the nursing field holds the majority of the leadership and higher up positions in this profession. Thesis Lord! In 2002, researchers Edwards et al describe this occurrence as the ”gender trap” (p. 310). This term pertains to the trend of female nurses being trapped in the lower fields of nursing because they do not enjoy the same mobility granted to male nurses when it comes to getting job promotions. They point out that indeed nursing is one of the best jobs for females due to the flexible hours the job provides, whether one chooses to work day shifts or night shifts; however, this can be a disadvantage to female nurses who choose to questions, work part-time because they are less likely to receive all the gap essay ielts benefits that full-time workers receive (p. Psc Essay! 309).

Therefore, male nurses have another advantage over essay on climate, female nurses when it comes to psc essay questions, leadership positions in nursing. Another aspect of why more and more males are attracted to the field of nursing is because of the shifting gender norms in the US. Essay On Climate Change! As mentioned before, the flexible schedule that the job provides has been a very influential factor in why many females choose this career. The flexible schedule is especially enticing to questions, females because of familial commitments such as taking care of children or taking care of maternity matters. But nowadays, the flexible schedule has been enticing to males as well because of the essay and assignment shifting of parental roles within the family unit. Caryl Rivers, a professor of Journalism at Boston University, and Rosalind Barnett, a scientist at the Women’s Studies Research Center at questions Brandeis Univerisity, examine the on climate change shifting gender norms where the psc essay parents, regardless of gender, now share more equal responsibilities in the household (2012, p. 1). Unlike before, when wives often stay at home to cook meals and watch the man essay children, they now go out the workforce to help the husband add to the family’s income. In return, many husbands also share housekeeping and child responsibilities that the wives leave when they go to work. Therefore, this shift in a more equal sharing of responsibilities in the household allows the flexible nursing schedules to attract more males into the field who are not only prioritizing work, but also prioritizing the roles that they play within their own families.

Thus, male nurses also enjoy the advantage of having flexible working schedule while still keeping up with their roles outside work. In 2011, a study conducted by researchers Kenny, Lee and Vertein further gives evidence to the shifting gender norms (p.478). The participants were nursing students across United States who completed the Bem Sex-Role Inventory or BSRI to investigate if the stereotypical image that nurses tend to psc essay, be more feminine is indeed true. The study had two initial hypotheses: male nurses are as feminine as female nurses and male nurses are less masculine than their male counterparts who are not in the nursing profession. The results rejected both of these hypotheses as the findings suggested that male nurses and female nurses had no significant difference in masculinity and persuasive essay and assignment femininity. They found that male and questions female nurses exhibited both masculine and good thesis lord flies feminine characteristics and are thus classified as androgynous rather than feminine or masculine (Kenny et al , 2011, pg 479).

This study, however, propose that being androgynous or having both feminine and masculine characteristics rather than being strictly one of the two, provides flexibility and questions maturity in the nursing career because nurses are able to adjust in different situations they will face in the work force (Kenny et al , 2011,p. Essays In America! 482). For instance, conveying unfortunate news about a patient’s health requires courage, which is psc essay questions, usually associated with masculinity, and compassion, which is good sentence lord flies, usually associated with femininity. Another interesting result of this study was that male nursing students had higher masculinity scores than males in other majors implying that the males who venture into the field of nursing view themselves as more masculine than feminine (Kenny et al , 2011,p. 484). Such results were opposite to the stereotype that male nurses are less masculine than males who are not nurses, and that male nurses become very feminine if they enter the field. Psc Essay! Therefore, even those who venture into nursing view themselves not strictly as feminine or masculine but a combination of both which essentially expresses the shifting of stereotypical gender norms in the US. Research Social! This shift in the gender norm allows for the easier acceptance of psc essay questions, male nurses in our society. Nursing has historically been associated with femininity for several reasons.

In 2004, Ann Anthony, Associate Dean of Nursing Division of Tulsa Community College, says that nurses were seen as the “doctor’s handmaiden” who performed menial task such as giving baths and feeding patients (p. 121). It was not until Florence Nightingale’s proposal to sciences, create training grounds for women who aim to become nurses did this occupation start to gain respect to some extent (Anthony, 2004, p. 122). Psc Essay! As nursing gained more and more respect, more women turned to this profession; thus, women slowly established the nursing field as a female profession and over time, stereotypes for nurses developed as individuals who are “subordinate, nurturing, domestic, humble, and self-sacrificing”. On Income In America! (Anthony, 2009 p. Psc Essay Questions! 123). Therefore, in a patriarchal society where masculinity is branded as being strong and superior, being a male nurse carries a stigma that often discourages males to become nurses.

However, this trend might be slowly changing as more and more males, especially in the US, are attracted to this career for research social, the array of opportunities they can have if they chose to enter the field of nursing. In reality it seems that although females dominate the field population-wise, there exist many privileges that male nurses enjoy upon questions entering the field. It seems, however, that this might be a beginning of thesis sentence, a reverse gender-based discrimination because by having privileges readily available for male nurses but not female nurses, unequal opportunities begin to rise. Although such special privileges might be needed to entice more males to the nursing field, which is extremely important if we want to have a representative nursing population, it is crucial to watch the psc essay questions steps that our society will be taking in order to gap essay, prevent creating an unequal working environment to our future nurses both males and females. Anthony, A.S. Psc Essay! (2004). Gender Bias and change Discrimination in Nursing Education: Can We Change It? Nurse Educator, 29, 121-126. Questions! Retrieved from Barnett, R., Rivers, C. (2012, June).

Are you working in essays inequality a woman dominated industry? Forbes. Retrieved from Dewan S., Gebeloff R. (2012, May). More Men Enter Fields Dominated by psc essay questions Women. Sentence Lord! The New York Times Magazine, 302(A1). Questions! Retrieved from Edwards, C., Mclaren, S., Robinson, O., Whittock, M. (2002). ‘The tender trap’: gender, part-time nursing and the effects of ‘family-friendly’ policies on generation gap essay ielts career advancement. Sociology of Health Illness, 24, 305-326. doi: 10. 1111/1467-9566.00296.

Jones, C., Gates, M. Psc Essay Questions! (2004). Sentence Lord Flies! Gender-based wage differentials in a predominantly female profession: observations from nursing. Economics of psc essay questions, Education Review, 23, 615-631. doi: 10.1016/j.econedurev.2004.06.001. Kenny, T., Lee G., Vertein D. (2011). Comparison of essay on climate, Masculine and Feminine Traits in a National Sample of Male and Female Nursing Students. American Journal of psc essay, Men’s Health , 5.6, 477-487. doi: 10.1177/1557988311404925. Leave a Reply Click here to paper social, cancel reply.

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anarchism essays Search all books by: Title, Author or Keyword. Questions. Anarchism and research Other Essays By: Emma Goldman (1869-1940) Chicago, May 4, 1886. In the Haymarket region of the psc essay city, a peaceful Labor Day demonstration suddenly turns into a riot. The police intervene to maintain peace, but they soon use violence to quell the mob and a bomb is all the, thrown, resulting in death and injuries to scores of people. In the widely publicized trial that followed, eight anarchists were condemned to death or life imprisonment, convicted of conspiracy, though none of psc essay questions them had actually thrown the good sentence lord bomb.

A young Russian immigrant, Emma Goldman, had arrived just the previous year in psc essay questions, the United States. She was deeply affected by what came to be known as the Haymarket Affair. Generation Gap Essay. She took on various jobs, including that of psc essay a factory worker before becoming a writer and lecturer committed to anarchist philosophy. In the years to follow, she and her lover planned to assassinate a well known financier and industrialist. Though the victim survived, Goldman's lover was sentenced to essay change, life imprisonment while she received a lesser sentence. However, she continued to spend time in and out of jail for psc essay various activities including distribution of literature regarding birth control, inducing people not to join the newly introduced military draft etc. She was deported back to Russia but found the regime there highly repressive and lived in Canada, England and France. She wrote passionately about issues that concerned humanity including prisons, religion, marriage, free love, the generation right of choice, capitalism, homosexuality, gender politics and militarism. Anarchism and Other Essays was first published by her own publishing house, Mother Earth. It opens with an introduction by Hippolyte Havel, a Czech anarchist who lived in Greenwich Village in New York. He was a great friend of the playwright, Eugene O'Neill, who based some of the characters in his plays on Havel.

Havel provides a detailed biography of psc essay questions Emma Goldman and ends with a stirring call to emancipate humanity. Emma Goldman's preface describes her own journey and motives. Twelve chapters delineate Goldman's philosophy and ideas. They include thoughts on Minorities versus Majorities, Prisons: A Social Crime and Failure, The Hypocrisy of generation gap essay Puritanism, Marriage and Love, The Tragedy of Women's Emancipation and several more. Living in an age marked by psc essay the rise of unbridled capitalism, self righteousness, imperialism and greed, in these essays she writes simply, passionately, earnestly and penetratingly about ideas and ideals and how individuals are constantly in format paper social sciences, conflict with society. Psc Essay Questions. Goldman wrote ceaselessly; her works include pamphlets, essays, books and tracts. As an interesting and radical viewpoint, Anarchism and Other Essays is a thought provoking read which was also strangely prophetic about the future of politics to come. Chicago, May 4, 1886. In the Haymarket region of the city, a peaceful Labor Day demonstration suddenly turns into a riot.

The police intervene to maintain peace, but they soon use violence to quell the mob and a bomb is thrown, resulting in death and injuries to scores of people. In the widely publicized trial that followed, eight anarchists were condemned to death or life imprisonment, convicted of conspiracy, though none of them had actually thrown the good sentence lord flies bomb. Questions. A young Russian immigrant, Emma Goldman, had arrived just the previous year in the United States. Research Paper Social. She was deeply affected by psc essay questions what came to be known as the format social Haymarket Affair. She took on various jobs, including that of a factory worker before becoming a writer and lecturer committed to anarchist philosophy. In the psc essay questions years to follow, she and paper her lover planned to assassinate a well known financier and questions industrialist. Though the victim survived, Goldman's lover was sentenced to life imprisonment while she received a lesser sentence. However, she continued to spend time in and out of jail for various activities including distribution of literature regarding birth control, inducing people not to join the newly introduced military draft etc.

She was deported back to Russia but found the regime there highly repressive and lived in Canada, England and France. She wrote passionately about issues that concerned humanity including prisons, religion, marriage, free love, the right of choice, capitalism, homosexuality, gender politics and militarism. Generation Gap Essay Ielts. Anarchism and questions Other Essays was first published by her own publishing house, Mother Earth. Thesis. It opens with an introduction by Hippolyte Havel, a Czech anarchist who lived in Greenwich Village in New York. He was a great friend of the playwright, Eugene O'Neill, who based some of the characters in his plays on Havel. Havel provides a detailed biography of Emma Goldman and ends with a stirring call to emancipate humanity.

Emma Goldman's preface describes her own journey and motives. Twelve chapters delineate Goldman's philosophy and ideas. They include thoughts on Minorities versus Majorities, Prisons: A Social Crime and Failure, The Hypocrisy of Puritanism, Marriage and Love, The Tragedy of Women's Emancipation and several more. Living in an age marked by the rise of unbridled capitalism, self righteousness, imperialism and greed, in these essays she writes simply, passionately, earnestly and penetratingly about ideas and ideals and how individuals are constantly in conflict with society. Goldman wrote ceaselessly; her works include pamphlets, essays, books and tracts.

As an questions interesting and radical viewpoint, Anarchism and Other Essays is a thought provoking read which was also strangely prophetic about the future of politics to come. Download mp3 files for each chapter of this book in one zip file (191MB)

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Essay on Oligopoly: Top 8 Essays on Oligopoly | Markets | Microeconomics. Here is a compilation of essays on psc essay questions ‘Oligopoly’ for class 9, 10, 11 and 12. Find paragraphs, long and short essays on ‘Oligopoly’ especially written for school and college students. Essay on the Introduction to Oligopoly Essay on the Characteristics of Oligopoly Essay on the Scope of Study of Oligopoly Essay on essay change the Models of Oligopoly Essay on the Sales (Revenue) Maximisation Essay on the Constrained Revenue Maximisation Essay on Game Theory Essay on Payoff (Profit) Matrix. Essay # 1. Introduction to Oligopoly: Two extreme market forms are monopoly (characterised by the existence of a single seller) and perfect competition (characterised by a large number of questions, sellers).

Competition is of two types- perfect competition and monopolistic competition. In perfect competition, all sellers sell ho­mogeneous products while in monopolistic competition they sell heterogeneous products. In monopoly there is no rival. So the generation monopolist is not concerned with the effect of his actions on rivals. In both types of competition, the number of firms is so large that the questions actions of persuasive and assignment, any one seller have little, if any, effect on its competitors. An industry with only a few sellers is psc essay questions, known as an oligopoly, a firm in format sciences such an industry is psc essay questions, known as an oligopolist. Although car-wash is a million rupee business, it is not exactly a product familiar to most consumers. However, often many familiar goods and services are supplied only by a few com­peting sellers, which means the industries we are talking about are oligopolies.

An oligopoly is not necessarily made up of large firms. When a village has only two medi­cine shops, service there is inequality, just as much an oligopoly as air shuttle service between Mumbai and Pune. Essentially, oligopoly is the result of the same factors that sometimes produce monopoly, but in somewhat weaker form. Honestly, the psc essay questions most important source of oligopoly is the exist­ence of economies of scale, which give better producers a cost advantage over smaller ones. When these economies of scale are very strong, they lead to monopoly, but when they are not that strong they lead to competition among a small number of firms. Since an oligopoly con­tains a small number of firms, any change in the firms’ price or output influences the sales and profits of competitors.

Each firm must, therefore, recognise that changes in its own policies are likely to elicit changes in the policies of its competitors as well. As a result of this interdependence, oligopolists face a situation in which the optimal deci­sion of one firm depends on what other firms decide to do. And so there is opportunity for both conflict and cooperation. Kings Man Essay! Oligopoly refers to a market situation in psc essay questions which the number of sellers is few, but greater than one. A special case of oligopoly is monopoly in which there are only two sellers. Essay # 2. Generation Gap Essay! Characteristics of Oligopoly: The notable characteristics of oligopoly are: An oligopolist is neither a price-taker (like a competitor) nor a price-maker (like a monopolist).

It is psc essay questions, a price-searcher. Generation Ielts! An oligopolist is neither a big enough part of the market to psc essay questions, be able to act as a monopolist, nor a small enough part of the market to be able to act as a competitor. But each firm is a dominant part of the market. In such a situation, competition among buyers will force all the sellers to charge a uniform price for a product. But each firm is sufficiently so large a part of the essays in america market that its actions will have noticeable effects upon questions his rivals. This means that if a single firm changes its output, the prices charged by essay all the firms will be raised or lowered. In oligopoly, there may be product differentiation as in monopolistic competition (called differ­entiated oligopoly) or a homogeneous product may be traded by all the few dominant firms (as in pure oligopoly).

3. Psc Essay Questions! Interdependence and Uncertainty : In oligopoly no firm can take decision on price independently. Good Lord Flies! It is because the decision to fix a new price or change an existing price will create reactions among the rival firms. Psc Essay! But rivals’ reactions cannot be predicted accurately. If a firm reduces its price its rivals may reduce their prices or they may not. So there is lack of symmetry in and assignment the behaviour of rival firms.

This type of reaction of psc essay, rivals is not found in perfect competition or monopolistic competition where all firms change their price in the same direction and by the same magnitude in order to remain competitive and survive in the long run. So the outcome of a firm’s decision is uncertain. For this reason it is difficult to predict the format research paper sciences total demand for questions, the product of an oligopolistic industry. It is gap essay, still more difficult, and in some situations virtually impossible, to estimate the share of an individual firm in industry’s output. It is true that the questions consequences of attempted price variations on the part of an individual seller are uncertain. His rivals may follow his change, or they may not, but they will, in all likelihood, notice it. The results of man essay, any action on the part of an questions oligopolist or even a duopolist depend upon the reactions of his rivals.

In short, it is not possible to define general price- quantity relations for on climate change, an individual firm, since reaction patterns of rivals are highly uncertain and almost completely unknown. 4. Psc Essay Questions! Different Reaction Patterns and Use of Models : It is not true to say that, in oligopoly, profit is always maximised. It is because an thesis sentence lord oligopolist does not have control over all the variables which affect his profit. Moreover, a variety of possible reaction patterns is possible in this market—there is a conjectural variation in this market. Just as firm A’s profit depends on questions the output of firm B also, firm B’s profit, in format research sciences its turn, depends on firm A’s output. This is why various models are used to describe the diverse behaviour of psc essay, oligopoly markets where a variety of outcomes is possible. As in monopolistic competition there is not only price competition but non-price competition as well in oligopoly (and, to some extent, in duopoly). For example, advertising is persuasive and assignment, often a life and death question in this type of market due to strategic behaviour of all firms.

In most oligopoly situations we find intermediate outcomes. Psc Essay Questions! Economists are yet to emerge with a definite behaviour pattern in oligopoly. Essay # 3. Scope of Study of all the man essay, Oligopoly : Here we study a few of the many possible reaction patterns in duopoly and oligopoly situa­tions. The focus is on pure oligopoly. Here we assume that all firms produce a homogeneous product. We do not discuss the case of differentiated oligopoly and questions, the issue of selling cost (advertising) separately. Of course, we discuss briefly Baumol’s sales maximisation hypoth­esis—without and with advertising. The focus here is on the interdependence of the various sellers’ reactions, which is the essay on climate change essential distinguishing feature of oligopoly.

If the influence of one seller’s quantity decision from the profit of psc essay questions, another, ?? i /?q j , is negligible, the industry must be either perfectly competi­tive or monopolistically competitive. Generation! If ?? i /?q j , is perceptible, the industry is duopolistic or oligopolistic. The optimum quantity and maximum profit of a duopolist or oligopolist depend upon the actions of the firms belonging to psc essay, the industry. He can control only his own output level (or price, if his product is differentiated), but he has no direct control over other variables which are likely to (or do) affect his profits. In truth, the profit of each oligopolist is the result of the interaction of the essay and assignment decisions of all players in the market. Since there are no generally accepted behavioural assumptions for oligopolists and duopolists as is found in other market forms, there are diverse patterns of behaviour and many different solutions for oligopolistic and psc essay, duopolistic markets. Each solution is based on different types of models and each model is based on a different behavioural assumption or a set of assumptions. Here we start with one or two simple duopoly models.

The same analysis (solution) can be extended to cover any oligopolistic market. The earliest model of gap essay, duopoly behaviour is the Cournot model, with which we may start our review of different oligopoly models. We end with the game theoretic treatment of psc essay questions, oligopoly which shows decision-making under conflict. Essay # 4. Models of Oligopoly: The Cournot model (presented in 1838) is based on the analysis of a market in which two firms produce a homogeneous product.

Augustin Cournot (a French economist) noticed that only two firms were producing mineral water for sale. He argued that each firm would choose quan­tity that would maximise profit, taking the essay and assignment quantity marketed by its competitor as given. Two main features of the model are: (i) Each firm chooses a quantity of output instead of price; and. (ii) In choosing its output each firm takes its rival’s output as given. In Cournot’s model, then, strategies are quantities of output. Here we assume that firms produce a homoge­neous good and know the market demand curve. Each firm must decide how much to produce, and the two firms make their decisions at the same time. When taking its production decision, each duopolist takes into psc essay questions consideration its competitor. It knows that its competitor is also de­ciding how much to produce, and good thesis sentence lord, the market price will depend on the total output of both firms. The essence of the questions Cournot model is generation gap essay ielts, that each firm treats the psc essay questions output level of its competitor as fixed and then decides how much to produce. Each Cournot’s duopolist believes that the other’s quantity will not change.

In Fig. 1 when I produces Q M , II maximises its profit by man essay producing 1/4Q C . In order to sell Q M plus Q c , the price must fall to P 1 . Here Q M is the mo­nopoly output which is half the competitive output Q c . The inverse demand function, stating price as a function of the aggregate quantity sold, is expressed as: where q 1 and q 2 are the output levels of the duopolists. Psc Essay! The total revenue of each duopolist depends upon his own output level as also as that of his rival: The profit of each equals his total (sales) revenue, less his cost, which depends upon good sentence lord his output level above: The basic behavioural assumption of the Cournot model is that each duopolist maximises his profit on psc essay questions the assumption that the quantity produced by his rival is invariant with respect to his own decision regarding output quantity. Good Thesis! Duopolist I maximises ? 1 with reference to q 1 , treating q 2 as a parameter, and duopolist II maximises ? 2 , with reference to q 2 , treating q 1 as a parameter. Setting the partial derivatives of (3) equal to zero, we get: The first order (necessary) condition of profit-maximisation requires that each duopolist equates his marginal cost to questions, his marginal revenue. The second order (sufficient) condition of each duopolist requires that. The slope of the marginal revenue curve of each duopolist must be less than that of the marginal cost curve.

Unlike the two-cost monopolist, where a single individual controls the value of format research paper social sciences, both output levels, in the Cournot model each duopolist maximises his profit with reference to a single variable under his control. This simply implies that the marginal revenues of the duopolists are not necessarily the same. The marginal revenues of the duopolists are: Since the demand curve is downward sloping the duopolist with the greater output will have the questions smaller marginal revenue (because a duopolist has to reduce price to sell more). The Cournot solution is simple enough. In this model, the duopolist market is in all the kings equilibrium if the values of q 1 and q 2 are such that each duopolist maximises his profit, taking the output of the sole rival as a parameter, and neither desires to change his output level. Thus, there is no conjectural variation in this model.

The optimum solution (equilibrium condition) can be found out in this model by solving (3) for q 1 and q 2 if (4) is satisfied. At this stage we have to introduce an additional step to get a more complete picture of duopoly. Reaction functions which express the output of each duopolist as a function of his rival’s output are determined by solving the first equation of (3) for q 1 and psc essay questions, the second for q 2 : The reaction function of duopolist I gives a relationship between q 1 and and assignment, q 2 with the property that, for any specified value of q 2 , the corresponding value of q 1 maximises p 1 . Psc Essay Questions! In a like man­ner, duopolist II’s reaction function gives the value of q 2 which maximises p 2 for any specified value of q 1 . An equilibrium solution here is a pair of values for q 1 and q 2 which satisfy both reaction functions. Let us suppose the demand and cost functions of duopolists are: All parameters are positive here.

So the profits of the duopolists are. The corresponding reaction functions are: Since the parameters B, b 1 q 1 and b 2 , q 2 are all positive, an increase in output of generation gap essay, ei­ther duopolist will lead to a fall in the other optimum (profit-maximising) output. Psc Essay! The reaction functions are linear as shown in Fig. 2. Gap Essay Ielts! An equilibrium is found out by psc essay solv­ing (7), or by the intersection point E of the two reaction curves (point E in Fig. 2). The solution of (7) is. The second-order (sufficient) conditions are satisfied by the linear demand and quadratic cost functions:

The restrictions of the Cournot model lies in its basic behavioural assumption regarding the continuing belief that a firm’s only rival will always produce the quantity that is currently being produced. Each duopolist acts on the basis of the assumption that his rival’s output remained fixed. However, this need not necessarily be true. If we assume that equilib­rium is lord flies, reached through a sequence of finite adjustments, one duopolist sets an psc essay output; this induces the other to adjust his output, which, in turn, induces the first to thesis, adjust his, and so on. It is quite unlikely that “each will assume that his quantity decisions do not affect his rival’s quantity decision if each of his adjustments is immediately followed by a reaction on the part of his rival”. To be more specific, if equilibrium is assumed to psc essay questions, be reached simultaneously, the optimal quantity of a duopolist is not given by q 1 =f 1 (q 2 ), but by essays on income inequality q 1 =f 1 [f 2 (q 1 )] and, similarly for psc essay questions, II, since each knows the behaviour pattern of his rival. Alternatively stated, the gap essay Cournot model assumes that each duopolist maximises his profit at the assumption that his rival’s price re­mains constant. Questions! But this is not a very realistic assumption for a homogeneous product.

As a general rule, duopolists and oligopolists take into consideration their mutual interdependence while taking output decisions. The simple Cournot model can be extended to format research social sciences, cover more than two firms. As the number of questions, firms expands, industry output expands according to the relation. where n denotes the good thesis lord number of firms. Clearly, as the number of firms increases, n/(n + 1) will approach one, and the industry output (Q) will approach the psc essay questions competitive level (Q c ). In gen­eral, we can write the duopolists’ profit functions as ? 1 (q 1 , q 2 ) = q 1 D (q 1 +q 2 ) – C (q 1 ) and ? 2 (q 1 , q 2 ) = q 2 D (q 1 + q 2 ) – C (q 2 ) where D is the demand for, and C is the cost function. The first firm chooses a quantity q 1 , where the partial derivatives of ?, with functions to q 1 is equal to zero: Of course, this is an implicit expression for on climate, the first firm’s best-response function because it determines the profit-maximising quantity of the first firm (q 1 ) for any value of psc essay, q 2 . Paper Social Sciences! Similarly, the second firm’s best response function is implicitly defined by.

The Cournot equation is then a pair of quantity q 1 C q 2 C that satisfies both the best-response functions. To operate a cartel successfully, the questions firms must learn to threaten to punish each other for format research paper, cheating on psc essay questions the cartel agreement. Let us consider a duopoly consisting of two identical firms such that each firm produces just half the monopoly amount of output where total profits will be maximised and essay on climate change, each firm will get a payoff of ? p ( say). In order to make this outcome stable, one firm threatens the other in terms of the production of psc essay, output such that if any one of them tries to cheat by producing more than the joint industry profit level of output, then it will be punished by the other firms, who will be producing at the Cournot level of output forever. This is inequality in america, known as a punishment strategy.

Now we assume that cheating occurs, and the punishment is carried out. As the ultimate optimal response to Cournot behaviour is the Cournot behaviour, it will result in each firm receiving a per-period profit of, say ? c , such that. where ? c > Cournot payoff. We suppose that each of the two firms is producing at the collusive monopoly level of output. If a firm produces more output, deviating from its quota of psc essay questions, production, the level of generation ielts, its profit is questions, such that. and it is the standard temptation facing a cartel member.

Each firm has an incentive to capitalize on persuasive and assignment the high price by increasing its production, if each one restricts output and raises the price and for this there can be a punishment for cheating. Clearly, if a firm produces at questions, the cartel amount, each one gets a steady flow of payments of format research paper sciences, ? p . Thus, the psc essay present value of this flow today can be given by: Present Value of cartel behaviour – ? p + ? p /r. The firm gets a one-time benefit of profit, ? d , if it produces more than the good sentence lord flies cartel amount. This results is the reversion to Cournot behaviour: Here the numerator of this fraction is psc essay questions, positive, as the essay monopoly profits are larger than the Cournot profits, and the deviation is even more profitable than sticking with the monopoly quota which helps the denominator to be positive.

The inequality suggests that as long as the rate of interest is quite small, it will be profitable for the firms to adhere to their quotas, so that the prospect of future punishment is sufficiently important. The Bertrand model was developed in 1883 by psc essay questions the French economist Joseph Bertrand. Like the Cournot model, it applies to firms that produce the same homogeneous good and make other decisions simultaneously. This change may affect market outcome dramatically. The Bertrand model substitutes price ? 1 and ? 2 for quantities q 1 and q 2 as the variables to be chosen.

Thus, the Cournot and Bertrand equilibrium are logical first cousins. What is the man essay first firm’s demand function if it takes its rivals’ price p 2 as given? The first firm will anticipate that if it charges a price higher than its rivals’ (p 1 p 2 ), everyone will buy from its rival. Psc Essay! If the first firm charges a lower price than its rivals’ (p 1 p 2 ), however, everyone will buy from thesis sentence it. And if it charges a price equal to its rivals’ (p 1 = p 2 ), the firms will divide the market among them. The dia­gram for this profit function is shown in Fig. Psc Essay Questions! 3. Here OM is the sentence lord flies marginal cost of producing the commodity. The second firm’s price is p 2 . Psc Essay! The first firm’s profit function is composed of three segments. When p 1 p 2 , the first firm captures the entire mar­ket, and its profit increases as its price increases.

When p 1 p 2 , the two firms split the total profits equal to thesis flies, distance CA, and each makes a profit equal to CB. Questions! When p 1 p 2 , the first firm’s profit is zero because it sells nothing when its price exceeds the second firm’s price. The Bertrand model has been criticised on two main grounds. First, when firms produce a homogeneous good, it is more natural to compete by on climate setting quantities rather than prices. Second, even if firms do set prices and choose the same price (as the model predicts), what share of total sales will go to each one? The model assumes that sales would be divided equally among the firms, but there is no reason why this must be the case. However, despite these shortcomings, the psc essay Bertrand model is useful because it shows how the lord flies equilibrium out­come in psc essay questions an oligopoly can depend crucially on the firms’ choice of strategic variable. The Stackelberg model (presented by the German economist Heinrich von Stackelberg) is kings man essay, a modified version of the Cournot model.

In the Cournot model, we assume that two duopolists make their output decisions at the same time. Psc Essay! The Stackelberg model examines what happens if one of the firms can set its output first. The Stackelberg model of duopoly is different from the Cournot model, in which neither firm has any opportunity to react. The model is on climate change, based on the assumption that the profit of each duopolist is a function of the output levels of both: The Cournot solution is psc essay questions, found out by maximising ? 1 with reference to q 1 , assuming q 2 to essays on income inequality in america, be constant and ? 2 with reference to q 2 , assuming q 1 to be constant. In general, each firm might make some other assumption about the response (reaction) of its only rival. In such a situation, profit-maximisation by the two duopolists requires the fulfillment of the following two condi­tions:

The terms of ?q 2 /?q 1 and ?q 1 /?q 2 represent what economists call the conjectural variation, i.e., the assumed response of each firm to the output of its lone rival. If firms make wrong assumptions about each other’s responses, (2) will not represent an questions improvement over the Cournot model. The Stackelberg model contains one of the more interesting set of assumptions about con­jectural variation based on the analysis of leadership and followership. A follower obeys his reaction function q 1 =f 1 (q 2 ) or q 2 =f 2 (q 1 ) and adjusts his output level with a view to maximising his profits given the quantity decision of his rival, when he assumes to social sciences, be a leader. Psc Essay Questions! But a leader does not obey his (the follower’s) reaction function. He simply assumes that his rival acts as a follower, and essay and assignment, maximises his profit, given his rival’s reaction function.

If the first duopolist acts as a leader, he assumes his rival’s reaction function is valid and, therefore, substitutes this relation into his own profit function. The first duopolist’s profit is now a function of q 1 alone. So it can be maximised with respect to this single variable. Psc Essay! The second duopolist can also determine the maximum profit from all the man essay leadership on the assumption that the psc essay first one obeys his reaction function and acts as a follower. On Climate Change! The first duopolist’s maximum profit from psc essay questions followership is determined by substituting his rival’s optimum leadership output level in his reaction function. Similarly, the second duopolists’ maximum profit from followership is determined by substituting the first duopolist’s optimum leadership output level in his reaction function. This kind of essay, ‘first mover advantage’ occurs in many strategic situations. Questions! Each duopolist determines his maximum profit levels from both leadership and followership and essays, seeks to play the role which yields the larger maximum.

Stackelberg thinks of four possible outcomes: (1)1 desires to be a leader and 2 a follower; (2) 2 desires to be a leader and 1 a follower; (3) both desire to be leaders; and. (4) both desire to psc essay, be the followers. The first outcome results in a consistent behaviour pattern and, therefore, a determinate equilibrium (assuming that the change first and second order conditions for maximum are fulfilled in psc essay questions all cases). Similarly, the second outcome results in a determinate equilibrium. But if both desire to act as followers, their expectations are not fulfilled, since each assumes that the change other will take the leadership role. Comparison with Cournot Model: Even in terms of the Stackelberg model, the Cournot solution is achieved if each desires to act as a follower, knowing fully well that the other will also take a follower’s role.

Otherwise, one has to change his behaviour pattern and questions, act as a leader before attaining equilibrium. If both desire to act as leaders, each assumes that the other’s behaviour is governed by his reaction function, but, in fact, neither of the reaction functions is obeyed. Consequently, a Stackelberg disequilibrium situation is encountered, which, in Stackelberg’s view, is the most frequent outcome. However, if Stackleberg was correct, the situation will result in quantity market-sharing war, and equilibrium will not be achieved until one has succumbed to the leadership of the on income inequality in america other or a collusive agreement has been reached. However, by using this model, it is possible to show that each duopolist can receive a greater profit from questions leadership. So it is quite obvious that both desire to social sciences, act as leaders. The Cournot and Stackleberg models are alternative representatives of oligopolistic behaviour.

Which model is the questions more appropriate depends on the industry. In an kings industry where all firms are more or less identical, none of which has a pricing advantage or leadership position, the Cournot model is probably the psc essay more appropriate. On the other hand, some industries are dominated by a large firm that usually takes the lead in introducing new products or setting price—the mainframe computer market is an example, with IBM as the leader. Then the on climate Stackelberg model may be more realistic. Duopolists (or oligopolists) often recognise their mutual interdependence and questions, agree to act to­gether (in collusion) in order to maximise the total profit of the industry. Collusive model of oligopoly shows what happens when oligopolists do decide to man essay, collude on a joint strategy. In such situations, both output levels are under a single control, and the industry is, in effect, a monopoly. Let us suppose we represent total revenue as. Total profit is.

This type of psc essay, profit function is found in case of a two-plant monopolist. Here we substitute two plants by research two producers. The first order condition of profit-maximisation requires that marginal cost of each producer be equated to marginal revenue for output as a whole. In this model, the questions profit levels of two duopolists are determined as the all the kings basis of their indi­vidual profit functions. However, joint profit-maximisation or the questions final distribution of the ag­gregate profit is largely the essay on climate matter for questions, negotiation between the generation gap essay duopolists. Like the Cournot equilibrium, the Bertrand equilibrium is individually rational, but collec­tively irrational. Again, firms of the Bertrand equilibrium have a clear incentive to collude. Does this mean that the collusive model makes better sense of questions, oligopoly than do the Cournot and Bertrand models? Not necessarily.

On the one hand, if firms find themselves at a Cournot or a Bertrand equi­librium, they have a clear incentive to collude. On the other hand, if firms manage to force a collusive agreement, there is a clear private incentive for each party to cheat on all the the collusive agreement. In the Cournot model, the individual incentive to cheat on a collusive agreement increases as the number of questions, parties to the agreement increases, which means that the larger the number of firms in an industry, the less likely is a collusive equilibrium. If the number of firms is large enough, some firm or firms will succumb to the temptation to cheat, thereby destroying the collusive agreement. The Market-sharing Solution : Some economists have analysed the nature of oligopolistic interdependence in case of differen­tiated products. In truth, product differentiation is good, likely to occur with duopoly and oligopoly as with monopolistic competition. If duopolists produce differentiated products we can think of a type of conjectural variation (different from the one assumed by Stackleberg). This form of conjectural variation assures that duopolist 2 desires to maintain a fixed share of the total sales of a differentiated product, regardless of the effects of his actions on psc essay questions his short-run profits.

He is mainly concerned with the long-run advantages that can be gained from maintaining a given market share. A quantity change on the part of duopolist I will be immediately followed by a proportionate change on the part of duopolist II. The relation is: where k is duopolist II’s market share, will always hold. Here duopolist I is a market leader in the sense that his actions will always be followed by duopolist II in a predetermined manner. Substituting from ielts (1) for q 2 , Thus, duopolist I’s profit is a function of his own output (q 1 ) and may be maximised with reference to this single variable as long as duopolist II reacts to maintain his market share. In 1939, Paul Sweezy presented the kinked demand curve model to questions, demonstrate clearly that some duopolistic and oligopolistic markets are characterised by infrequent price changes. Sweezy has argued that in most real-life oligopoly markets firms usually do not change their price- quantity combinations in response to small shifts of their cost curves as is normally found in most market situations. The kinked demand curve model is consistent with the behaviour of firms. Starting from an persuasive essay and assignment initial price-quantity combination, if one of the duopolists lowers his price (increasing his quantity), the other is psc essay questions, assumed to format research paper social, react by lowering his price (increasing his quantity) in order to maintain his market share. If one of the duopolists raises his price, his rival is assumed to leave his own price unchanged and, thereby, increases his share of the questions market.

Price cuts are matched, but price increases are not. Since implicit collusion tends to be fragile, oligopolistic firms often have a strong desire for on climate change, stability, particularly with reference to psc essay, price. This is why price rigidity is a characteristic of good thesis sentence lord, oligopolistic industries. Psc Essay! Unless there are substantial changes of costs or demand, firms hesitate to change price. If costs fall or market demand declines, oligopolists fear that lower prices might give the wrong signal to their competitors and initiate some sort of price war.

And if cost or demand rises, they are reluctant to good sentence lord, raise prices because they are afraid that their competitors may refuse to raise prices. This price rigidity forms the basis of the kinked demand curve model of oligopoly. Accord­ing to this model, each firm faces a demand curve kinked at current prevailing price P?, as shown in psc essay Fig. 4. At prices above P the demand curve is highly elas­tic because price increase is all the, not matched. So the exist­ing firm will lose its market share considerably. On the other hand, the firm believes that if it lowers its price below P?, other firms will make matching price cuts, because they do not lose their market share.

Thus, for price increase, the demand curve is psc essay questions, inelastic. In that case, sales will expand only to the extent that a lower market price increases total market demand. Thus, nei­ther price cut, nor price increase is thesis sentence flies, desirable. In each case, the firm loses. Since the psc essay questions firm’s demand curve is kinked, its combined marginal revenue curve is discon­tinuous. This means that the firm’s cost can change without leading to price change. In this figure, marginal cost could increase but would still equal marginal revenue at the original out­put level. This means that price remains the same.

The kinked demand curve model fails to explain oligopoly pricing. Paper Social Sciences! It says nothing about how marginal revenue firms arrived at the original price P? to start with. In fact, some arbitrary price is taken as both the starting and end point of our journey. Why firms did not arrive at some other price remains an open question. It just describes price rigidity but cannot explain it. In addition, the model has not been supported by empirical tests. In reality, rival firms do match price increases as well as price cuts. Market-sharing Price Leadership : Oligopolists often collude—jointly restrict supply to raise price and cooperate. Psc Essay Questions! This strategy can lead to format social, higher profits. Collusion is, however, illegal. Moreover, one of the main impedi­ments to implicitly collusive pricing is the fact that it is difficult for psc essay questions, firms to paper, agree (without talking to each other) on what the psc essay price should be.

Coordination becomes particularly problem­atic when cost and demand conditions—and, thus, the ‘correct’ price—are changing. However, benefits of cooperation can be enjoyed without actually colluding. One way of good thesis lord flies, doing this is through price leadership. Price leadership may be provided by a low-cost firm or a dominant firm. In this context, we may draw a distinction between price signalling and price leadership. Price signalling is questions, a form of implicit collusion that sometimes gets around this problem. Generation! For example, a firm might announce that it has raised its price with the expectation that its competi­tors will take this announcement as a signal that they should also raise prices.

If competitors follow, all of the firms (at least, in the short run) will earn higher profits. At times, a pattern is questions, established whereby one firm regularly announces price changes and other firms in format paper social the industry follow. Questions! This type of strategic behaviour is called price leadership— one firm is implicitly recognised as the research paper ‘leader’. The other firms, the ‘price followers’, match its prices. This behaviour solves the problem of psc essay questions, coordinating price: Everyone simply charges what the leader is charging. Price leadership helps to essay, overcome oligopolistic firms’ reluctance to change prices—for fear of being undercut. Psc Essay Questions! With changes in cost and demand conditions, firms may find it increas­ingly necessary to change prices that have remained rigid for man essay, some time.

In that case, they wait for the leader to signal when and by questions how much price should change. Sometimes a large firm will naturally act as a leader; sometimes different firms will act as a leader from generation time to time. In this context, we may discuss the psc essay questions dominant Firm model of leadership. This is known as market- sharing price leadership. In some oligopolistic markets, one large firm has a major share of total sales while a group of smaller firms meet the residual demand by supplying the remainder of the on income in america market. The large firm might then act as a dominant firm, setting a price that maximises its own profits. The other firms, which individually could exert little, if any, influence over price, would then act as perfect competitors; they all take the price set by the dominant firm as given and questions, produce accordingly. Research! But what price should the dominant firm set? To maximise profit, it must take into account how the output of the other firms depends on the price it sets. Fig.

5 shows how a dominant firm sets its prices. A dominant firm is questions, one with a large share of total sales that sets price to maximise profits, taking into all the kings account the supply response of psc essay questions, smaller firms. Inequality In America! Here D is the market demand curve and S F is the supply curve (i.e., the aggregate marginal cost curves of the smaller firms, called competitive fringe firms). The dominant firm must determine its demand curve D D . This curve is questions, just the difference between market demand and the supply of fringe firms. All The Kings Man Essay! For example, at price P 1 , the psc essay questions supply of fringe firms is just equal to market demand.

This means that the essay on climate dominant firm can sell nothing at this price. At a price P 2 or less, fringe firms will not supply any of the good, in which case, the dominant firm faces the market demand curve. If price lies between P 1 and P 2 , the dominant firm faces the psc essay demand curve D D . The marginal cost curve of the dominant firm corresponding to D D is generation ielts, MR D . The dominant firm’s marginal cost curve is MC D . In order to maximise its profit, the dominant firm produces quantity Q D at the interaction of questions, MR D and MC D . From the demand curve D D , we find P 0 . At this price, fringe firms sell a quantity Q F , thus the total quantity sold is Q T = Q D + Q F . 7. Collusive Oligopoly: The Cartel Model : Various models have been formulated to explain the good lord flies strategic behaviour of firms in an oligopolistic market. A price (cut-throat) competition exists among the rivals who try to psc essay, oust the others from the essay change market. Sometimes there ex­ists a dominant firm that acts as the leader in the market while the others just follow the leader. As a result, there happens to psc essay, be a clear possibil­ity of the thesis lord formation of a cartel by psc essay the rival firms in an oligopolistic market in order to eliminate competition among themselves.

This is termed as “collusive oligopoly” because the essays on income in america firms some­how manage to questions, combine together in order to kings, be­have collectively as a single monopoly. Now let us see graphically what incentives the firms get for forming a cartel. In Fig. 6, the market demand curve is psc essay, given by the D M the total supply curve is the horizontal summation of the marginal cost curves of persuasive, all existing firms in psc essay questions the industry, which is denoted by MC M . The market equilibrium is attained at the point of essays in america, intersection between the D M (demand curve) and psc essay, the marginal cost curve MC M , if the firms compete with each other. Good Sentence Lord Flies! OP M is the equilibrium price at which the total output of the industry is OQ M . In order to determine its own quantity, each firm equates this price to its marginal cost. The sum of the quantities of the firms is OQ. If the firms form a cartel in order to act as a monopolist, the price rises to psc essay, OP ‘ M and the quantity is essay and assignment, reduced to psc essay, OQ ‘ M to be in equilibrium. Now, when the quantity is being reduced by Q M Q’ M , then all the essay firms together save the cost represented by the area below the MC M curve which is psc essay questions, Q M E M F M Q ‘ M . Thus, a rise in price due to a reduction in the quantity is followed by essay a decrease in the total revenue represented by the area below the MR M curve, i.e., area Q M G M F M Q’ M . This, in turn, shows that the cost saved exceeds the psc essay questions loss in generation gap essay ielts revenue and, so, all the firms taken as a whole can increase their profit represented by the area E M F M G M . The prospect of earning this extra profit actually acts as the incentive to form a cartel in the oligopoly market structure. Since the cartel is formed, all firms agree together to produce the psc essay total quantity OQ’ M . In order to carry this out, each and every firm is allotted a quota or a certain portion of production such that the persuasive and assignment sum of all quotas is equal to OQ M . For this, the best way of quota allotment would be to treat each firm as a separate entity (plant) under the same monopolist.

Thus, all the psc essay questions firms have the same marginal cost (MC) such that MC = MR (marginal revenue). Finally, the total profit is maximised because the total output is produced at the minimum cost. Each and every firm can increase its profit by reducing the profits of essays on income, other firms, simply by increasing its output quantity above the allotted quota. The system of cartel formation must guard against the desire of individual firms to violate the quota and the cartel breaks down when the cost of guarding against quota violation is very high. The OPEC is an example of collusive oligopoly or cartel in which members (producers) explicitly agree to psc essay questions, cooperate in setting prices and output levels. All the producers in sentence lord flies an industry need not and often do not join the psc essay cartel. But if most producers adhere to essay on climate, the cartel’s agree­ments, and if market demand is sufficiently inelastic, the cartel may drive prices well above competitive levels. Two conditions for success:

Two conditions must be fulfilled for cartel success. Questions! First, a stable cartel organisation must be formed whose members agree on price and production levels and thesis sentence flies, both adhere to that agreement. The second condition is the potential for monopoly power. A cartel cannot raise price much if it faces a highly elastic demand curve. If the potential gains from cooperation are large, cartel members will have more incentive to share their organisa­tional problems. Analysis of Cartel Pricing: Cartel pricing can be analysed by using the psc essay questions dominant firm model of oligopoly. It is thesis, because a cartel usually accounts for only a portion of total production and must take into account the supply response of competitive (non-cartel) producers when it sets price. Here we illustrate the OPEC oil cartel. Fig. 7 illustrates the psc essay questions case of OPEC.

Total demand TD is the world demand curve for on income in america, crude oil, and S c is the competitive (non-OPEC) supply curve. The demand for OPEC oil D 0 is the difference between total demand (TD) and psc essay questions, competitive supply (SC), and MR 0 is the corresponding marginal revenue curve. MC 0 is OPEC’s marginal cost curve; OPEC has much lower production costs than do non-OPEC producers. OPEC’s marginal revenue and marginal cost are equal at quantity Q 0 , which is the quantity that OPEC will produce. Essays Inequality! Here we see from OPEC s demand curve that the price will be P 0 . Since both total demand and psc essay questions, non-OPEC supply are inelastic, the demand for essays inequality in america, OPEC oil is also fairly inelastic; thus the cartel has substantial monopoly. In the 1970s, it used that power to drive prices well above competitive levels. In this context, it is important to distinguish between short-run and long-run supply and demand curves. Questions! The total demand and non-OPEC supply curves in format research Fig.

7 apply to short-or intermediate-run analysis. In the questions long run, both demand and supply will be much more elastic, which means that OPEC’s demand curve will also be much more elastic. We would thus expect that, in the long run, OPEC would be unable to maintain a price that is essay change, so much above the competitors’ level. In truth, during 1982-99, oil prices fell steadily, mainly because of the long- run adjustment of psc essay questions, demand and on climate change, non-OPEC supply. However, cartel is not an unmixed blessing. No doubt cartel members can talk to one an­other in order to formalize an agreement.

But it is questions, not that easy to reach a consensus. Different members may have different costs, different assessments of market demand, and even different objectives, and they may, therefore, want to set prices at different levels. Furthermore, each member of the cartel will be tempted to “cheat” by generation ielts lowering its price slightly to capture a larger market share than it was allotted. Most often, only the threat of a long-term return to competi­tive prices deters cheating of this sort. Psc Essay Questions! But if the profits from cartelization are large enough, that threat may be sufficient. Essay # 5. Sales (Revenue) Maximisation : W.J. Ielts! Baumol presented an alternative hypothesis to profit maximisation, viz., sales (revenue) maximisation. He has suggested that large oligopolistic firms do not maximise profit, but rather maximise sales revenue, subject to psc essay questions, the constraint that profit equals or exceeds some minimum accepted level.

Various empirical studies support Baumol’s hypothesis. And it accurately cap­tures some aspects of oligopolistic firms’ behaviour. Most important, when firms are uncertain about their demand curve they actually face, or, when they cannot accurately estimate the marginal costs of their output (due to generation gap essay ielts, uncertainty about factor prices, or when they produce more than one product), the decision to try to maximise sales appears to be consistent with their long-term survival. Psc Essay Questions! This is why many oligopolist firms seek to maximise their market share in good thesis sentence lord order to protect themselves from the adverse effects of uncertain market environment. A revenue-maximising oligopolist would choose to produce that level of output for questions, which MR = 0. When MR = 0, TR is all the kings man essay, maximum. Psc Essay! That is, the oligopolist should proceed to the point at which selling any extra unit(s) actually leads to a fall in TR. Essay And Assignment! This choice is illustrated in Fig. 8. For the firm which faces the demand curve D, TR is maximum when output is q s . For q q s , MR is positive. Psc Essay! This means that selling more units increases TR (though not necessarily profit). For q q s , however, MR is negative.

So further sales actually reduce TR because of price cuts that are necessary to induce consumers to buy more. We know that. MR = 0 if e p = 1, in social which case TR will be maximum. Psc Essay Questions! TR is constant in a small neighbourhood of gap essay, that output quantity at M 1 P = 0, TR is maximum, and when TR is maximum, e p = 1. We may now compare the psc essay questions revenue-maximisation choice with the profit-maximising level of output, q s . At q p , MR equals marginal cost MC in Fig. 8. Increasing output beyond q p would reduce profits since MR MC. Even though TR continues to increase up to q s , units of output beyond q p bring in less than they cost to produce. Since marginal revenue is positive at essays on income inequality, q p , equation (1) shows that demand must be elastic (e p 1) at psc essay, this point. Essay # 6. Constrained Revenue Maximisation : A firm that chooses to maximise TR is neither taking into account its costs nor the profitabil­ity of the output that it is generation gap essay ielts, selling. And it is psc essay questions, quite possible that the output level q s in Fig.

8 yields negative profit to the firm. However, it is not possible to any firm to survive for thesis sentence flies, ever with negative profits. So it may be more realistic to assume that firms do meet some mini­mum level (target rate) of profit from their activities. Thus, even though oligopolists may be prompted to produce more than q p with a view to maximising revenue, they may produce less than q p units in order to ensure an acceptable level of profit. They will, therefore, behave as constrained revenue maximises and will choose to produce an output level which lies between q p and q s . Let us assume that a unique unrestricted maximum profit ? m exists at psc essay, the output q p with R'(q r ) 0, C”(q) 0 for format research social, q q r , and R” (q) 0 for q 0. If ? 0 ? m , (2) cannot be satisfied and the maximum-revenue problem has no solution. Questions! A solution will exist if ? 0 ? m . If ? 0 = ? m is q r is the essay maximum solution since it is the only output that satisfies (2). If ? 0 ? m , revenue will increase and profit will decrease as q is increased beyond q r Thus, the oligopolist will continue to increase q until either (i) he reaches the unrestricted maximum of R(q); or (ii) (2) is satisfied as an equality, whichever occurs as the lower output.

If (i), (3) states that R (q) = 0 and ? = 0. Questions! If (ii) happens short of the output for (i), C'(q) R'(q) 0 and ? 0. The multiplier ? gives the rate at which revenue can be expanded per rupee of profit sacrificed. An example will make the idea clear. Suppose an oligopolist faces a linear demand curve p = 100 – 4q and his cost function is C = 50 + 20q. Assume that Rs 334 = ? 0 ? m = Rs 350. How much profit has to essays, be sacrificed per unit of revenue? The unrestricted maximum for R(q) is Rs 625 which occurs at q = 12.5 with ? = Rs 325. Psc Essay! This option may be excluded because it yields too low a profit. The equality of (2) is (100 – 4q 2 ) – (50 + 20q) = Rs 334.

It may also be expressed as: The quadratic equation has the roots 8 and 12 with respective total revenues of Rs 544 and research sciences, Rs 624. Thus, the revenue-maximising oligopolist produces 12 units which he sells at psc essay questions, a price of thesis sentence lord, Rs 52 to gain a total revenue of Rs 624 and a profit of Rs 334. By contrast, a profit-maximising oligopolist produces 10 units which he sells at a price of Rs 60 to gain a total revenue of Rs 600 and a profit of questions, Rs 350. Lord Flies! From (3), ? = 0.25. So the psc essay questions oligopolist sacrifices at the marginal rate of Rs 4 of profit to earn extra rupee of sales revenue. The theories of lord flies, duopoly and oligopoly lead to compact mathematical solutions with the cal­culus method. However, the psc essay various models developed are based on arbitrary (and often unrealistic) assumptions about change each firm’s beliefs about rivals’ reactions to its actions. The theory of games, developed by J. von Neumann and O. Morgentern, is an alternative ap­proach that has been applied to markets in psc essay questions which there are few sellers with interdependent outcomes. Here we restrict ourselves to non-cooperative, or competitive games, known as two-person zero-sum games. The game theory has been developed to determine a rival’s most profitable counter-strategy to format paper social sciences, one owns ‘best’ moves and to formulate the appropriate defensive measures.

A game is any situation in which players (the participants) make strategic decisions, i.e., decisions that take into account each one’s actions and responses, e.g., firms competing against each other for questions, setting prices or spending money on advertising. Essay And Assignment! Strategic decisions result in payoffs to the players: outcomes that generate rewards or benefits. For price-setting firms, the payoffs are profits. A duopoly game consists of a single move on psc essay questions the part of each firm. In this context, we define a few key terms: A strategy is a rule or plan of generation, action for playing the game; it is the specification of a particular move for one of the psc essay questions participants. The strategy of a duopolist may consist of select­ing a particular value for each of the variables under his control.

If price is his only strategic variable, a strategy consists of good thesis sentence flies, selecting a particular price. If price and advertising expenses are both variables, a strategy consists of setting specific values for both the variables. Each duopolist is assumed to have a large but a limited number of psc essay, strategies, in which case there is no possibil­ity of all the, continuous variation of the action variables. The final outcome of the duopolistic game is the profit earned by each of the participants. This is determined from the relevant cost and psc essay questions, demand functions once each firm has selected its own strategy. A key objective of the game theory is to determine the optimal strategy for each player. The optimal strategy for a player is the one that maximises his expected pay-off.

There are two criteria of classifying duopolistic games: (i) The number of participants; and. (ii) The net outcome. Since game theory is paper social, essentially a theory of deci­sion-making involving conflict the questions first criterion simply involves a counting of the number of kings man essay, participants with conflicting interests. Questions! Here we discuss any two-person games. The per­sons are like players of chess or card. In this case, there are the two duopolists, and each one is trying to outguess his rival. Gap Essay Ielts! The second criterion allows us to a draw a distinction between zero-sum and non-zero-sum games. A zero-sum game is questions, one in format paper which the sum of the out­comes—e.g., profits—for all the participants equals zero for every possible combination of strategies. The economic games that firms play can be either cooperative or non-cooperative. In a cooperative game, players can negotiate binding contracts that allow them to plan join strategies.

In a non-cooperative game, negotiation and enforcement of binding contracts are not possible. In any game, however, the most important aspect of strategic decision-making is understanding one’s opponent’s point of view, and (assuming one’s opponent is rational), deducing his likely responses to actions. Two-person zero-sum games are competitive (non-cooperative) in nature. Psc Essay Questions! The reason is that if one player always loses what the other wins, there can be no room for cooperation. A two-person zero-sum game can be applied to a duopolistic market in which one partici­pant’s gain always equals the loss of the other.

In general, if I has m strategies and II has n strategies, the possible outcome of the format research social sciences game is given by the following payoff matrix which shows what I will receive as a result of each possible combination of strategy choice by himself and by II: where the a ij is I’s profit if I employs his ith strategy and II employs his jth. In case of questions, zero-sum sum, the lord corresponding profit earned by II is – a ij . Duopolists adopt two approaches, viz., maximin and minimax. Psc Essay Questions! I can make the good flies best of the situ­ation aiming at the maximum of the minimal payoffs. This decision rule is called a maximin strategy. Similarly, the best of II’s most pessimistic payoff is called II’s minimax strategy. Let us consider the following payoff matrix: If I employs his first strategy and II employs his second, I’s profit is 40, and II’s is – 40. If I employs his second strategy and II employs his third, I’s profit is – 10 and II’s is 10.

The duopolist’s decision problem consists of choosing an psc essay optimal strategy. I desires the research outcome (40) in the first row and second column of (2), and II desires the outcome (- 10) in the second row and third column. The final outcome depends upon the strategies of both duopolists, and neither has the power to enforce his desires. If I selects his first strategy, II might select his fourth, and the outcome would be 5 rather than 40. If II selects his third strategy, I might select his first, and the outcome I would be 20 rather than -10. The theory of games postulates behav­iour patterns which allow the questions determination of equilibrium in these situations.

The decisions of the duopolists are consistent and the equation is achieved if. If (3) holds, the persuasive strategies of I and II are respectively, called an equilibrium pair of strate­gies. Questions! In example (2), suppose I employs his first strategy. If II anticipates I’s choice, I’s profit will be 5. If I employed his second strategy, and II anticipated his choice, his profit would be -10. II will employ his fourth strategy and his loss will be limited to 5. Generation Gap Essay Ielts! Every other column of (2) has a maximum greater than 5. In this case, The duopolists’ decisions are consistent, and an equilibrium is established. Neither duopolist can increase profit by changing his strategy if his opponent’s strategy remains unchanged.

An equilibrium point in terms of a payoff matrix is called a saddle point. However, the questions coinci­dence of all the kings, maximin-minimax strategy payoffs does not always occur. There are some cases in which the questions payoff matrix possesses no equilibrium pair. To understand this problem, we have to persuasive and assignment, introduce the concept of dominance. A dominant strategy is questions, one that is optimal—no matter what an opponent does. In general, the generation ielts ith row dominates the hth if a ij ? a hj for psc essay, all j, and a ij a hj for at least one j. A rational duopolist will never employ a dominant strategy. If he does, no equilibrium pair will exist. However, when every player has a dominant strategy, we call the outcome of the persuasive and assignment game an equilibrium in dominant strategies. Equilibrium in dominant strategies refers to the outcome of a game in which each firm is doing the best it can, regardless of questions, what its competitors are doing. In such a game, each player’s optimal strategy can be determined without worrying about the actions of the other players.

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Colonial Williamsburg Official History Site - Mobile Version. Christmas is a'coming, The goose is getting fat, Please put a penny in questions, the old man's hat. by Ivor Noël Hume.

Thomas Nast's twinkling nineteenth-century Santa is the one familiar now. The older St. Nicholas was rather grim. Sleigh bells ringing, children singing, Yule logs aglow, toy-filled stockings hanging by generation gap essay, the hearth, Currier and Ives, Tiny Tim, and a beer baron's Clydesdales tromping through the snow. 'Tis Christmastide again, and as Grand Illumination heralds the season in Williamsburg, we can easily imagine the questions, way it was in colonial times. Holly wreaths on every front door, mistletoe in the hallway, candle-lit tree in the parlor ringed round with brightly packaged gifts, and the sound of lantern-carrying carol singers amid the all the kings, gently falling snowflakes. But snow? What snow? How often did colonial Virginians get snow at Christmas in questions, Williamsburg? If modern experience is the judge, the answer is: Not often. Though in 1775 it fell right on cue.

On Friday, December 22, diarist John Harrower, writing from Belvidera Plantation near Fredericksburg, reported a great fall of snow. But for him, Christmas Day passed unnoticed. In the previous year it snowed on the thirteenth, but Harrower's Christmas entry told only that he had no saddle on which to in america ride to psc essay church. Another diarist, Philip Vickers Fithian, handed out generation gap essay ielts sixpences to the servants that cost him three shillings and a penny ha'penny, modest largesse then described as a Christmas box. But that was about the extent of psc essay questions Fithian's giving or receiving. He found Christmas dinner no otherwise than common, albeit elegantly laid out. The Christmas Day entry of a much earlier diarist, William Byrd of Westover, recalled that in 1740 it was too cold for persuasive essay and assignment him to go to church, though he did have roast turkey on the table. Turkeys and hams were traditional colonial fare, as they were in England.

Even in the midst of a hot and sickly summer, a Yorktown resident thought to ship two Christmas turkeys to London, saying, Mrs Mary Ambler will send hams to questions eat with them. But that was about as Christmassy as colonial Virginians became. It was no different in London for William Byrd in 1718, whose diary contributed only that he ate some roast beef for dinner in what we would consider a late lunch. No churchgoing, no gifts given or received. The following Christmas he was at sea on his way back to Virginia and eating plum pudding and boiled mutton, followed by roasted chestnuts and a bowl of persuasive essay punch with the captain. Byrd also conducted a service for the crew and wrote his own prayer. Some Christmas customs descend from Saturnalia festivals, Roman celebrations in late December. In short, an eighteenth-century Christmas, be it afloat, in Virginia, or in psc essay, the Royal Court in London, was primarily a religious festival—as it was meant to be. Nevertheless, being nice to the neighbors was a traditional facet of Christmas benevolence in high places. All The Kings Man Essay. In 1772 the Virginia Gazette reported that at Windsor Lodge the Duke of Cumberland kept open table for the Country People, for three Days, covered with Surloins of roast Beef, Plum Puddings, and minced Pies, the rich and ancient Food of Englishmen.

The report said that this was in the old English solid way, a criticism still heard in this country about English cooking. In 1774 Christmas fell conveniently on a Sunday, and amid much regal pomp George III and Queen Charlotte received the sacrament in the Chapel-Royal from the hands of the Lord Bishop of London, assisted by the Lord Bishop of psc essay questions Chichester and sentence lord flies the Clerk of the King's Closet. In the following year the royal family went through the same ritual and made the usual offering. The reporting newspaper noted, however, that the day has been kept with more strictness, by all ranks of psc essay questions people in this metropolis, than for and assignment some years past. One immediately wonders what level of psc essay questions laxity had been perceived in previous years. It was, however, far more likely that antisocial behavior blossomed in the day after Christmas, that being the occasion for masters to reward servants and apprentices with ceramic money boxes containing their annual bonuses, which quickly went down their throats in the nearest taverns. 'Twas ever thus. As early as 1387 Geoffrey Chaucer wrote about the essays on income inequality in america, apprentice, his box, and his reputation for wild and riotous behavior. Although it is doubtful that any happy apprentice gave a thought to the origins of psc essay Boxing Day, the church was all too aware that the day of giving and receiving gifts could be traced to the pagan Roman Saturnalia, an event unfit for all the kings man essay pious eyes or ears. They saw it that way in Puritan Massachusetts. A law enacted in 1659 read: Whosoever shall be found observing any such day as Christmas, or the like, either by forebearing of questions labor, feasting in thesis sentence, any other way, shall be fined 5 shillings, and psc essay questions forbade the Festival of Christmas and kindred ones, superstitiously kept.

The law was only in effect for essay on climate twenty-two years, but Christmas was not made a legal holiday in Massachusetts until the mid-nineteenth century. In England during the Cromwellian interregnum, attending a Christmas service could get one into deep trouble, as it did for psc essay diarist John Evelyn. On Christmas Day, 1657, he and his wife were arrested while receiving the sacrament, musket-pointing Puritan soldiers threatening them as if they would have shot us at research paper, the altar. Turkey was a traditional English main course for psc essay questions eighteenth-century Christmases, along with Surloins of on income inequality roast Beef and hams, though colonists supped on the bird in summer, too. Although there is evidence that the stroke of a Puritanical pen outlawed many an old English custom thought to psc essay questions have had pagan origins, in the tradition-shrouded recesses of the countryside such edicts were contemptuously ignored. Albeit in distorted forms, therefore, some traditions survived to be absorbed into the Christmas we still enjoy.

Take, for example, the Yule log, whose ceremonial presentation is an established Colonial Williamsburg event. In the medieval centuries, when candles were expensive and gap essay hearths wide, the psc essay, notion that the essay, birth of the Christ child became the light of the world was reflected in the Christmas Eve burning of a large, knotted, and slow-burning log or wooden block. Psc Essay. Thus, in 1677, Poor Robin's Almanack included the December lines, Now blocks to cleave this time requires, / 'Gainst Christmas for to make good fires. Twenty-nine years earlier, Puritan cleric Thomas Warmstry said that the blazes are foolish and vaine, not countenanced by the church. More to the point, oversized blazing logs were liable to catch cottage chimneys on fire. The lighting of candles on Christmas Eve was another, somewhat safer means of welcoming the birth of Christ.

In the sixteenth century, and probably earlier, single, very large candles called specifically Christmas candles were burned in churches and in homes, and gap essay ielts it is this tradition of welcoming the questions, infant Jesus with candles that has become part of the Colonial Williamsburg prelude to the sacred day. Decorating one's home with ivy and other greenery was another tradition whose roots were dug deep in pagan Europe and persuasive essay were yet another feature of the questions, Roman saturnalia that stretched from December 17 to 24. Created as a celebration for Saturnus, the god of agriculture, it evolved into an all-you-can-think-of festival of unbridled joy. The thirteenth-century historian Mathew Paris said it was characterized by processions, singing, lighting candles, adorning the house with laurel and green trees, giving presents; the men dressed as women or masqueraded in the hides of animals. The fir we cut to stand in the living-room corner may stem from the same classical source, though most of the myths surrounding it are Germanic—as College of William and Mary professor Charles Frederick Ernest Minnegerode well knew. He joined the faculty in 1842 to all the man essay teach Latin and Greek and brought his native weinachtsbaum tradition with him. Psc Essay Questions. If you stumbled through that awkward word, just read it as Christmas tree. He set it up in the Courthouse Green home of his lawyer friend Beverley Tucker. It was not until Christmas Eve, 1915, however, that the City of Williamsburg chose Palace Green to gap essay erect its first public illuminated tree. The tradition continues, though it has shifted to Market Square and is lit at the time of the psc essay, holiday-launching Grand Illumination. Kevin Ernst as Philip Vickers Fithian dispenses holiday sixpences to research Jared Armstead, left, and Bliss Armstead as servants.

It was already a custom he felt obliged to psc essay follow. The illuminated Christmas tree was not a long-standing tradition in England. Just as Professor Minnegerode brought a touch of his old country to Virginia, so another German took it to all the Britain. He was Albert Saxe-Coburg Gotha, who married Queen Victoria in 1840 and psc essay questions two years later was granted the kings man essay, rank of consort and psc essay questions enjoyed the distinction of change introducing his weinachtsbaum to the English court. The year was 1842. It is psc essay questions doubtful that many among the crowd following the Fife and Drum Corps down Duke of Gloucester Street give much thought to essay on climate Professor Minnegerode's contribution to Williamsburg's Christmas or, indeed, to its German origins. Among the best known of the legends is that of questions a knight who on Christmas Eve was riding through a forest when he saw a strange light glimmering between the essay on climate, trees. Reaching it, he found a single fir tree bedecked in burning candles, some upright and others inverted, and topped by a glowing star.

Returning home, his mother told him that he had been privileged to psc essay see the flies, Tree of psc essay questions Humanity. The candles, she said, were people, the good ones pointing up and the bad down. The glowing star was the Infant Jesus watching over all humanity. Today, of course, few of us risk using anything but electric candles, but I recall a Christmas at Carter's Grove when a ceiling-height tree in the hall was so bedecked with flaming candles that the heat threatened to on income inequality set the house on fire. In a more restrained manner, fire has always been at the heart of Christmas.

In pre-Christian Germany in houses where smoke escaped through a hole in the roof rather than up a chimney, the winter solstice was dedicated to Hertha, the goddess of psc essay questions domesticity. The room was decked with evergreens and a great fire was laid on a large, flat altar stone set in the center. In the midst of feasting, the goddess would descend through the smoke to bestow good luck on good thesis sentence lord, the host and psc essay his guests. Thus, according to some mythologists, the Hertha stone became our hearthstones, and the legend explains why, rather than entering in a reasonable and civilized way, Santa Claus comes down the chimney. His North Pole address seems to be relatively new as no Saturnalian or ancient German knew that it existed. But Santa's alter ego, a grim-visaged Saint Nicholas, came out good sentence of the German forests riding a white horse carrying a basket of gifts for good children and a fistful of psc essay questions birch rods with which to beat the bad. The saint's demon attendant, Pelznickle, who did the punishing and who today has been transformed into a cute polar elf, provided an additional touch of menace. Good Thesis Sentence. As for Santa as we know him, he came with Dutch colonists to New Amsterdam, where they built a church to Santa Nikalaus. It was American author Washington Irving who in questions, his 1809 tongue-in-cheek A History of New York by Diedrich Knickerbocker first described Santa Claus as small, rotund, and soaring through the air on a reindeer-drawn sleigh.

Decades later, Thomas Nast, cartoonist for Harper's Illustrated Weekly, first drew him as we now know him. Nast also gave us the Democrats' donkey, and the GOP elephant. English writer John Evelyn and thesis sentence lord his wife, portrayed by Penn Russell and Lori Loughrey, found themselves in trouble with Cromwellian authorities, in the person of psc essay questions Willie Balderson, for receiving Christmas sacrament from their priest, here Robert Doares. And what about carols? Christmas without carolers would be like—well, like holly without ivy. The word is said to derive from the Latin cantare, to generation gap essay sing, and rola, an psc essay expression of joy, and its earliest surviving text dates from the thirteenth century. But caroling being a monastic activity, it fell into disfavor in the reign of man essay Henry VIII, later to be revived in more secular forms only to be condemned by psc essay, the Puritans. By the time the British got over that hurdle, old-style carols were considered antiquated. Consequently, it was not until the nineteenth century that most of the carols we now sing were written. Silent Night was first published in 1840, Hark the Herald Angels Sing in 1856, O Come, All Ye Faithful was not translated into English until 1841, and all the O Little Town of psc essay Bethlehem was written for a Philadelphia Sunday School in 1868.

In truth, most of the all the man essay, panoply of Christmas is the product of pagan tradition, of Victorian sentimentality, and psc essay of modern marketing that keeps millions of the world's elves in the manufacturing business. Even the mandatory Christmas cards to and from people you scarcely remember and probably wouldn't like if you saw them now have roots as shallow as the generation gap essay, sentiments expressed. The earliest known card was created and mailed in 1845 by Victorian painter William Charles Dobson. Psc Essay. A year later, another painter, John Calcott Horsley, was asked to provide a lithographed card to be sent out by the too-busy Sir Henry Cole, keeper of the records at the British Treasury Office, and thanks to all the kings man essay him we have ever since been wishing one and all a Merry Christmas and a Happy New Year! For my part I leave you with some much older Christmas wishes in verses that predate Thomas Nast and even Charles Dickens, and which eloquently portray a yearning for imagined simpler days and happier hearts:

Too busy or too indolent to write personal greetings, Sir Henry Cole stands accused of being the psc essay questions, sender of the second mass-produced Christmas and New Year's card in generation ielts, 1846. He at least wrote in the recipient's name and signed his own on the line. Loud songs to the praise. Of good old English pleasures: To the Christmas cheer, And the foaming beer, And the buttery's solid treasures;— To the stout sirloin, And the rich spiced wine, And the boar's head grimly staring; To the psc essay questions, frumenty, And the hot mince pie,

Which all folks were for sharing;— To the holly and bay, In their green array, Spread over the walls and dishes; To the research paper, swinging sup. Of the psc essay questions, wassail cup, With its toasted healths and wishes;— To the honest bliss. Of the hearty kiss,

Where the mistletoe was swinging; When the berry white, Was claimed by right, On the essay, pale green branch clinging;— When the warm blush came. From a guiltless shame,

And the lips, so bold in stealing, Had never broke. The vows they spoke, Of truth and manly feeling;— To the story told. By the gossip old, O'er the embers dimly glowing,

While the questions, pattering sleet. On the casements beat, And the blast was hoarsely blowing;— To the on climate change, tuneful wait. At the mansion gate, Or the glad, sweet voices blending, When the psc essay, carol rose,

At the midnight's close, To the format social, sleeper's ear ascending;— To all pleasant ways, In those ancient days, When the questions, good folks knew their station; When God was fear'd, And the king revered,

By the hearts of a grateful nation;— When a father's will. Was sacred still, As a law, by his children heeded; And none could brook. The mild sweet look, When a mother gently pleaded;— When the generation gap essay, jest profane.

Of the light and vain. With a smile was never greeted; And each smooth pretense, By plain good sense, With its true desert was treated. First published at Christmastide in 1832, the wistful verses clearly reflected dismay at psc essay questions, lost contentment, the eroding of family values, and the decline of morality and persuasive and assignment civility. Psc Essay Questions. Now, 173 Christmases later, what else is new? Robert Doares as the priest. Ms. Eveyln as portrayed by Lori Loughrey.

John Evelyn portrayed by Penn Russell. Willie Balderson portrays a Cromwellian authority. Kevin Ernst portraying Philip Vickers Fithian. Williamsburg-based Ivor Noël Hume contributed to the autumn 2005 journal an article about his archaeological adventures with wells.