Application of sequential nonparametric confidence bands in finance

In a nonparametric setting, the functional form of the relationship between the response variable and the associated predictor variables is assumed to be unknown when data is fitted to the model. Non-parametric regression models can be used for the same types of applications such as estimation, prediction, calibration, and optimization that traditional regression models are used for. The main aim of nonparametric regression is to highlight an important structure in the data without any assumptions about the shape of an underlying regression function. Hence the nonparametric approach allows the data to speak for itself. Applications of sequential procedures to a nonparametric regression model at a given point are considered.

The primary goal of sequential analysis is to achieve a given accuracy by using the smallest possible sample sizes. These sequential procedures allow an experimenter to make decisions based on the smallest number of observations without compromising accuracy. In the nonparametric regression model with a random design based on independent and identically distributed pairs of observations (X ,Y ), where the regression function m(x) is given bym(x) = E(Y X = x), estimation of the Nadaraya-Watson kernel estimator (m (x)) NW and local linear kernel estimator (m (x)) LL for the curve m(x) is considered. In order to obtain asymptotic confidence intervals form(x), two stage sequential procedure is used under which some asymptotic properties of Nadaraya-Watson and local linear estimators have been obtained.

The proposed methodology is first tested with the help of simulated data from linear and nonlinear functions. Encouraged by the preliminary findings from simulation results, the proposed method is applied to estimate the nonparametric regression curve of CAPM.

Human rights and forensic psychology

Objectives. Human rights serve to orientate practitioners to the necessary conditions for a minimally worthwhile life for service users, the prerequisites for a life of dignity and a chance at happiness, and the opportunity to incorporate into their life plans cherished values and goals. In this introduction to the special section paper, I discuss the basic concept of human rights and outline their relevance for clinical practice with offenders.

Method. I explore the core values associated with human rights and suggest that one of their primary functions is to protect the internal and external conditions of individuals' agency and their pursuit of better lives.

Conclusion. I briefly outline the three articles comprising this special section of LCP on human rights that address issues of risk, therapeutic jurisprudence, and the rights of detained persons.

Evolutionary psychology and the rehabilitation of offenders : constraints and consequences

The mainstream view in criminology and correctional psychology is that evolutionary perspectives have little to offer researchers or practitioners and may in fact lead to overly reductionist and crude responses to the complex issue of crime and its consequences. However, in our view all the major evolutionary approaches to the explanation of human behavior have something of value to contribute, with niche construction providing a particularly useful lens upon crime and its management. In this paper we analyze the concept of rehabilitation and describe the key features of effective rehabilitation. We argue that niche construction is responsive to the cognitive versatility and behavioral flexibility of human beings and can also accommodate the important role of social and cultural scaffolding in the rehabilitation process.

Blended learning in finance : comparing student perceptions of lectures, tutorials and online learning environments across different year levels

In modern pedagogy, a blended approach is used comprising both face-to-face and online learning. This study investigates how undergraduate students majoring in finance view the different learning environments, and evaluates the changes in perception over the three years of the degree after controlling for gender, age, international/domestic student and English as a first language. Using a purpose designed survey instrument, students across the three years of undergraduate study rated the importance of lectures, tutorials and web-based learning environments in a blended learning model. The results indicate that there is still a strong preference for face-to-face learning. Additionally, there were significant differences in attitudes and perception by year level.

Professional training in applied psychology : towards a signature pedagogy for forensic psychology training

Forensic Psychology is a recognised and important sub-specialty of the Psychology discipline. However, after an expansion in the number of training places that were offered when programmes were first developed, recent years have seen these diminish in response to changes in university policies, resulting from reformulated Federal government funding models. In this article, we argue that it is important for the future of specialist areas of professional psychology to not only articulate the core skills and competencies that are associated with specialist practice but also to develop unique and distinctive approaches to teaching and learning signature pedagogies. Based on the premise that forensic psychological practice is, indeed, a distinctive activity that requires different skills and, importantly, different ways of thinking about the work from other areas of professional psychology, it is suggested that professional training in this area should aim to develop a signature pedagogy which combines methods of teaching and learning that have been developed in legal training programmes with principles of problem-based learning.

Assessing impact of micro finance on poverty alleviation - Bangladesh perspective

“Micro finance” or its major part “micro credit”, both used interchangeably, is an important institutional device for alleviating poverty of the poor people. Micro finance concept was first developed and initiated in Bangladesh in the late seventies with a view to help the people living below the poverty line. Since its inception to till date, there has been tremendous growth of organizations, known as MFIs (Micro Finance Institutions), in this field to deal with the micro finance/credit activities. Despite this, the poverty situation of the poor people who have already used the micro finance programs was not improved substantially. The few MFIs have their own programs to conduct survey on impact assessment of their individual micro credit activities. The present study will focus on the impact assessment of micro finance activities on some variables of poverty alleviation, the extent to which these programs helped loanees to become micro finance graduates and the relevant suggestions as to the success of the micro finance activities.

Comparison theory in economic psychology regarding the easterlin paradox and decreasing marginal utility : a critique

This paper challenges the assumption within Economics that the relationship between money and subjective wellbeing is determined by processes of cognitive comparison. An alternative explanation for such well known phenomena as the Easterlin Paradox and Decreasing Marginal Utility are provided through a consideration of affect. The theoretical basis for such explanations relies on theory from Psychology usually overlooked by Economists, such as affect heuristics and Subjective Wellbeing Homeostasis. The presented evidence for this alternative source of explanation melds psychological theory with empirical data. It is concluded that affective processes offer a coherent alternative explanation for the phenomena under discussion.

Entrepreneurship, e-finance and mobile banking

This paper focuses on the role of entrepreneurship and e-finance in determining a person's intention to adopt mobile banking. The approach utilised in this paper is to develop a conceptual framework that includes a number of propositions that are developed and justified by the literature. The main findings of this paper are that people's entrepreneurial inclination and learning tendency will determine how they respond to marketing and knowledge about mobile banking. The practical implications are that financial institutions involved in e-finance can focus their marketing efforts at increasing people's exposure to mobile banking.

The nature of supervision in forensic psychology : some observations and recommendations

Purpose – Supervision is often regarded as an important aspect of forensic psychological practice and yet little evidence exists to support the idea that supervised practice leads to better outcomes for either clients or organisations. This paper seeks to discuss some of the aims of supervision in relation to the needs of forensic psychologists, such that practice in this area can be developed further.

Design/methodology/approach – The current published literature on the nature of forensic supervision is reviewed and discussed.

Findings – A number of different models of supervision have been proposed and supervisory experiences can vary markedly according to both the individuals involved and the setting in which the work is conducted. There is a need to develop specialist models of supervision for those who work in forensic settings. Further research is needed to establish an evidence-base for supervisory practices.

Originality/value – There has been very little previous consideration of the nature of post-qualification forensic supervision despite the need, and in some cases requirement, that forensic practitioners receive supervision. This paper discusses some of those issues that are considered important to effective supervision in the forensic setting.