Research on the influence of behavioral forces that motivate trader behavior and sentiment: A prospect theory exegesis

This study focuses on empirical investigations and seeks implications by utilizing three different methodologies to test various aspects of trader behavior. The first methodology utilizes Prospect Theory to determine trader behavior during periods of extreme wealth contracting periods. Secondly, a threshold model to examine the sentiment variable is formulated and thirdly a study is made of the contagion effect and trader behavior. ^ The connection between consumers' sense of financial well-being or sentiment and stock market performance has been studied at length. However, without data on actual versus experimental performance, implications based on this relationship are meaningless. The empirical agenda included examining a proprietary file of daily trader activities over a five-year period. Overall, during periods of extreme wealth altering conditions, traders "satisfice" rather than choose the "best" alternative. A trader's degree of loss aversion depends on his/her prior investment performance. A model that explains the behavior of traders during periods of turmoil is developed. Prospect Theory and the data file influenced the design of the model. ^ Additional research included testing a model that permitted the data to signal the crisis through a threshold model. The third empirical study sought to investigate the existence of contagion caused by declining global wealth effects using evidence from the mining industry in Canada. Contagion, where a financial crisis begins locally and subsequently spreads elsewhere, has been studied in terms of correlations among similar regions. The results provide support for Prospect Theory in two out of the three empirical studies. ^ The dissertation emphasizes the need for specifying precise, testable models of investors' expectations by providing tools to identify paradoxical behavior patterns. True enhancements in this field must include empirical research utilizing reliable data sources to mitigate data mining problems and allow researchers to distinguish between expectations-based and risk-based explanations of behavior. Through this type of research, it may be possible to systematically exploit "irrational" market behavior. ^

Research on the influence of behavioral forces that motivate trader behavior and sentiment- a prospect theory exegesis

This study focuses on empirical investigations and seeks implications by utilizing three different methodologies to test various aspects of trader behavior. The first methodology utilizes Prospect Theory to determine trader behavior during periods of extreme wealth contracting periods. Secondly, a threshold model to examine the sentiment variable is formulated and thirdly a study is made of the contagion effect and trader behavior. The connection between consumers' sense of financial well-being or sentiment and stock market performance has been studied at length. However, without data on actual versus experimental performance, implications based on this relationship are meaningless. The empirical agenda included examining a proprietary file of daily trader activities over a five-year period. Overall, during periods of extreme wealth altering conditions, traders "satisfice" rather than choose the "best" alternative. A trader's degree of loss aversion depends on his/her prior investment performance. A model that explains the behavior of traders during periods of turmoil is developed. Prospect Theory and the data file influenced the design of the model. Additional research included testing a model that permitted the data to signal the crisis through a threshold model. The third empirical study sought to investigate the existence of contagion caused by declining global wealth effects using evidence from the mining industry in Canada. Contagion, where a financial crisis begins locally and subsequently spreads elsewhere, has been studied in terms of correlations among similar regions. The results provide support for Prospect Theory in two out of the three empirical studies. The dissertation emphasizes the need for specifying precise, testable models of investors' expectations by providing tools to identify paradoxical behavior patterns. True enhancements in this field must include empirical research utilizing reliable data sources to mitigate data mining problems and allow researchers to distinguish between expectations-based and risk-based explanations of behavior. Through this type of research, it may be possible to systematically exploit "irrational" market behavior.

Effects of Prenatal and Early Postnatal Exposure to Aversive Stimuli on Fearfulness and Exploratory Behavior in Bobwhite Qauil Neonates (Colinus virginianus)

Neophobia, the fear of novelty, is a behavioral trait found across a number of animal species, including humans. Neophobic individuals perceive novel environments and stimuli to have aversive properties, and exhibit fearful behaviors when presented with non-familiar situations. The present study examined how early life exposure to aversive novel stimuli could reduce neophobia in bobwhite quail chicks. Experiment 1 exposed chicks to a novel auditory tone previously shown to be aversive to naïve chicks (Suarez, 2012) for 24 hours immediately after hatching, then subsequently tested them in the presence of the tone within a novel maze task. Postnatally exposed chicks demonstrated decreased fearfulness compared to naïve chicks, and behaved more similarly to chicks tested in the presence of a known attractive auditory stimulus (a bobwhite maternal assembly call vocalization). Experiment 2 exposed chicks to the novel auditory tone for 24 hours prenatally, then subsequently tested them within a novel maze task. Prenatally exposed chicks showed decreased fearfulness to a similar degree as those postnatally exposed, revealing that both prenatal and postnatal exposure methods are capable of decreasing fear of auditory stimuli. Experiment 3 exposed chicks to a novel visual stimulus for 24 hours postnatally, then subsequently tested them within a novel emergence box / T-maze apparatus. Chicks exposed to the visual stimulus showed decreased fearfulness compared to naïve chicks, thereby demonstrating the utility of this method across sense modalities. Experiment 4 assessed whether early postnatal exposure to one novel stimulus could generalize and serve to decrease fear of novelty when chicks were tested in the presence of markedly different stimuli. By combining the methods of Experiments 1 and 3, this experiment revealed that chicks exposed to one type of stimulus (auditory or visual) demonstrated decreased fear when subsequently tested in the presence of the opposite type of novel stimulus. These results suggest that experience with novel stimuli can moderate the extent to which neophobia will develop during early development.

Public school administrators' knowledge of special education law

The purpose of this study was to assess the knowledge of public school administrators with respect to special education (ESE) law. The study used a sample of 220 public school administrators. A survey instrument was developed consisting of 19 demographic questions and 20 situational scenarios. The scenarios were based on ESE issues of discipline, due process (including IEP procedures), identification, evaluation, placement, and related services. The participants had to decide whether a violation of the ESE child's rights had occurred by marking: (a) Yes, (b) No, or (c) Undecided. An analysis of the scores and demographic information was done using a two-way analysis of variance, chi-square, and crosstabs after a 77% survey response rate.^ Research questions addressed the administrators' overall level of knowledge. Comparisons were made between principals and assistant principals and differences between the levels of schooling. Exploratory questions were concerned with ESE issues deemed problematic by administrators, effects of demographic variables on survey scores, and the listing of resources utilized by administrators to access ESE information.^ The study revealed: (a) a significant difference was found when comparing the number of ESE courses taken and the score on the survey, (b) the top five resources of ESE information were the region office, school ESE department chairs, ESE teachers, county workshops, and county inservices, (c) problematic areas included discipline, evaluation procedures, placement issues, and IEP due process concerns, (d) administrators as a group did not exhibit a satisfactory knowledge of ESE law with a mean score of 12 correct and 74% of responding administrators scoring in the unsatisfactory level (below 70%), (e) across school levels, elementary administrators scored significantly higher than high school administrators, and (f) a significant implication that assistant principals consistently scored higher than principals on each scenario with a significant difference at the high school level.^ The study reveals a vital need for administrators to receive additional preparation in order to possess a basic understanding of ESE school law and how it impacts their respective schools and school districts so that they might meet professional obligations and protect the rights of all individuals involved. Recommendations for this additional administrative preparation and further research topics were discussed. ^

Knowledge and perceptions about HIV/AIDS and safer sex practices among Korean-Americans in Dade County, Florida

This study was conducted to identify Korean-Americans' knowledge, perceptions, and efficacy (both self and response) relating to HIV/AIDS, as well as safer sex practices. Age, gender, education, Confucianism, religion, and acculturation were also examined for potential relationships with the main variables. A total of 200 Korean-Americans in Dade County, Florida, participated in the study. The mean age of the participants was 32.6 years (range 19-55). The AIDS Risk Assessment Questionnaire (ARA-Q) derived from the AIDS Risk Measurement Study Questionnaire (ARMS-Q) and the Risk Behavior Assessment (RBA) were used for data collection. The overall mean score of HIV/AIDS knowledge was 12.3 (77%) out of a possible 16. Knowledge, and perceptions about HIV/AIDS were not related to safer sex practices. Significant correlations between attitudes toward condoms and the frequency of condom use during oral intercourse were evident. Male subjects reported more sexual partners in their lifetime and more frequent condom use during vaginal intercourse during the last year than female subjects. The number of sexual partners in the last year was not related to perceived HIV/AIDS susceptibility and response-efficacy among men or women, but response-efficacy positively correlated to frequency of condom use among both genders. Acculturation scores were positively correlated with the number of sexual partners and the frequency of condom use during vaginal intercourse for men and women. Further research is needed to determine factors that may increase the cultural relevance of AIDS prevention strategies to the Korean-American community. The findings of this study may be used as a basis for designing culturally-sensitive HIV/AIDS education programs to reach various segments of this ethnic community. ^

Academic achievement orientation of West Indian American parents and adolescents

Literature addressing academic achievement orientation of Black adolescents in the United States often depicts poor school related attitudes and adaptation patterns, low academic achievement, and deficient family backgrounds. However, some researchers maintained that certain Black immigrant groups possessed positive academic achievement orientations and exemplary academic achievements (Ogbu, 1991; Gibson, 1991; Vernez, & Abrahamse, 1996). In this study, I attempted to combine qualitative data from multiple sources (surveys, interviews, observations, literature, and document analysis), using standard case study methodology and the constant comparative method of analysis to understand the relationship that existed between the academic achievement orientation of a select group of West Indian American parents and adolescents in Broward County, Florida. The sub-sample of 11 families, comprising 15 adolescents and 13 parents, was selected through maximum variation sampling from a pool of 23 families. The findings were presented as a single composite case study. The participants possessed specific, longstanding educational and career goals for the children. The parents were deeply involved and were knowledgeable of their children's schools and academic progress. While mothers were the parents most actively involved in the schools, fathers were strong authoritative figures. Families evidenced a strong moral religious base with set rules of behavior, firm parenting practices, and established chains of authority. Family members emphasized education over material things; reading over audiovisual or social activities; family cohesion over individual wishes; and academics over extracurricular activities. The parents' strong positive academic achievement orientation was communicated to the children and reinforced by relatives, family friends, and others. In turn, the adolescents possessed positive school-related attitudes and attributional styles. While they admitted their parents were somewhat strict, they voluntarily complied with the rules and were highly motivated to succeed because they believed their parents deeply cared for them and that education leads to success and upward mobility. Each adolescent was pursuing an academic track and planning for college and specific profession. The findings support Ogbu's cultural ecological model (1991). I recommend these findings to teachers, counselors, administrators, parents, and others working with West Indian American families. ^

An investigation of mathematics and science instruction in English and Spanish for English language learners

The contextual demands of language in content area are difficult for ELLS. Content in the native language furthers students' academic development and native language skills, while they are learning English. Content in English integrates pedagogical strategies for English acquisition with subject area instruction. The following models of curriculum content are provided in most Miami Dade County Public Schools: (a) mathematics instruction in the native language with science instruction in English or (b) science instruction in the native language with mathematics instruction in English. The purpose of this study was to investigate which model of instruction is more contextually supportive for mathematics and science achievement. ^ A pretest and posttest, nonequivalent group design was used with 94 fifth grade ELLs who received instruction in curriculum model (a) or (b). This allowed for statistical analysis that detected a difference in the means of .5 standard deviations with a power of .80 at the .05 level of significance. Pretreatment and post-treatment assessments of mathematics, reading, and science achievement were obtained through the administration of Aprenda-Segunda Edición and the Florida Comprehensive Achievement Test. ^ The results indicated that students receiving mathematics in English and Science in Spanish scored higher on achievement tests in both Mathematics and Science than the students who received Mathematics in Spanish and Science in English. In addition, the mean score of students on the FCAT mathematics examination was higher than their mean score on the FCAT science examination regardless of the language of instruction. ^

The civic achievement gap: A study on the civic knowledge, skills, and attitudes of Hispanic students in Miami-Dade County Public Schools

This study assessed the civic knowledge, skills, and attitudes of Hispanic eighth grade students in Miami-Dade County Public Schools (M-DCPS), Florida. Three hundred sixty one Hispanic students of Cuban (253), Colombian (57), and Nicaraguan (51) ancestry from 10 middle schools participated in the study. Two hundred twenty eight students were from low socio-economic status (SES) background, and 133 were of middle SES background. There were 136 boys and 225 girls. The International Association for the Evaluation of Educational Achievement Civic Education Student Questionnaire was used to collect data. The instrument assessed the students’ civic knowledge, skills, and attitudes. Multivariate analysis of variance was used to test for differences in the civic knowledge, skills, and attitudes of participants based on ancestry, SES, and gender. ^ The findings indicated that there was no significant difference in the civic knowledge, skills, and attitudes of Hispanic eighth grade students that were of Cuban, Colombian, and Nicaraguan ancestry. There was no significant difference in the civic skills and in five of the civic attitude scales for students from low SES families compared to those from middle SES families. However, there was a significant difference in the civic knowledge and in the civic attitude concerning classroom discussions and participation based on SES. The civic knowledge of middle SES students was higher than that of low SES students. Furthermore, middle SES Hispanic students displayed a higher mean score for the civic attitude of classroom discussions and participation than low SES students. There was no significant difference in the civic knowledge and in five of the civic attitude scales between boys and girls. However, there was a significant difference in the civic skills and the civic attitude of support for women’s rights between boys and girls. Hispanic girls displayed a higher mean score in civic skills than Hispanic boys. Furthermore, the mean score of civic attitude of support for women’s rights for Hispanic girls was higher than that of Hispanic boys. ^ It was concluded that Cuban, Colombian, or Nicaraguan participants did not demonstrate differences in civic attitudes and levels of civic knowledge and skills that eighth grade students possessed. In addition, when compared to boys, girls demonstrated a higher level of civic skills and a greater support for women’s rights and participation in politics and their roles in politics. Moreover, SES was demonstrated to be a key factor in the acquisition of civic knowledge, regardless of ancestry.^

Eastern oysters (Crassostrea virginica) as an indicator for restoration of Everglades Ecosystems

The Comprehensive Everglades Restoration Plan (CERP) attempts to restore hydrology in the Northern and Southern Estuaries of Florida. Reefs of the Eastern oyster Crassostrea virginica are a dominant feature of the estuaries along the Southwest Florida coast. Oysters are benthic, sessile, filter-feeding organisms that provide ecosystem services by filtering the water column and providing food, shelter and habitat for associated organisms. As such, the species is an excellent sentinel organism for examining the impacts of restoration on estuarine ecosystems. The implementation of CERP attempts to improve: the hydrology and spatial and structural characteristics of oyster reefs, the recruitment and survivorship of C. virginica, and the reef-associated communities of organisms. This project links biological responses and environmental conditions relative to hydrological changes as a means of assessing positive or negative trends in oyster responses and population trends. Using oyster responses, we have developed a communication tool (i.e., Stoplight Report Card) based on CERP performance measures that can distinguish between responses to restoration and natural patterns. The Stoplight Report Card system is a communication tool that uses Monitoring and Assessment Program (MAP) performance measures to grade an estuary's response to changes brought about by anthropogenic input or restoration activities. The Stoplight Report Card consists of both a suitability index score for each organism metric as well as a trend score (− decreasing trend, +/− no change in trend, and + increasing trend). Based on these two measures, a component score (e.g., living density) is calculated by averaging the suitability index score and the trend score. The final index score is obtained by taking the geometric score of each component, which is then translated into a stoplight color for success (green), caution (yellow), or failure (red). Based on the data available for oyster populations and the responses of oysters in the Caloosahatchee Estuary, the system is currently at stage “caution.” This communication tool instantly conveys the status of the indicator and the suitability, while trend curves provide information on progress towards reaching a target. Furthermore, the tool has the advantage of being able to be applied regionally, by species, and collectively, in concert with other species, system-wide.

The relationship of managers' self -reported leadership practices and their spirituality

The role of spirituality in leadership in business and other organizations has gained growing recognition. The purpose of this study was to explore the relationship between spirituality and nine selected transformational leadership practices. Community leaders (N = 138) in business, education, and other professions who were graduates of a 10-week leadership program, Leadership Fort Lauderdale, from 1994 to 2004 completed the Spirituality Assessment Scale (SAS), the Leadership Practices Inventory (LPI), and four transformational leadership items of the Multifactor Leadership Questionnaire (MLQ). ^ The predictor variables were participants' scores on the LPI and MLQ. The criterion variable was their score on the SAS. Stepwise multiple regression analysis was used to test the hypothesis: Is there a combination of nine selected transformational leadership practices that would account for a significant portion of the variance of each of two spirituality measures? The Definitive and Correlated dimensions and Total spirituality score of the SAS were used in the analysis. ^ Results showed that two of the LPI leadership practices were significantly related to spirituality. The variable Inspiring a Shared Vision accounted for 10% of the variance of the SAS Definitive dimension. The variable Encouraging the Heart accounted for 30% of the variance of the Correlated dimension. For the Total spirituality score, two models were revealed. In the first model, Encouraging the Heart accounted for 28% of the variance of the total spirituality score. In the second model, Encouraging the Heart and Inspiring a Shared Vision together accounted for 31% of the total spirituality score. None of the transformational leadership practices from the MLQ were significantly related to spirituality. ^ The data partially support the hypothesis: two of the nine leadership variables did in combination correlate with leaders' spirituality. The results also support at least a partial relationship between spirituality and certain transformational leadership practices among leaders in various spheres, such as education, business, and other professions. ^

A study of the relationship between employee virtuality and technology deviance as mediated by leadership and employee perceptions

Recent studies found that organizations have been investing significant capital in developing teams and employees in geographic areas where labor and resources are considerably cheaper. Furthermore, organizations are moving core operational activities such as research and development and back-office processes to globally distributed teams. ^ However, several factors that are inherent to these virtual teams can have a negative impact on employee perceptions and engagement; specifically, the physical and temporal differences between employees and their supervisors, the lack of meaningful social interaction intrinsic to working relationships, and cultural biases that can be fostered when close, daily interactions is not there to help bridge the dissimilarity. ^ When strategies are not in place to mitigate these deficiencies, it can cause virtual employees to disengage emotionally and intellectually from the organization, or lead them to feel justified in working against the best interest of the company. ^ Past research indicates that although deviant behavior in the workplace is not new, transgressions committed by employees have been increasing significantly every year. Beyond the focus of why employees are motivated to act against the organization, to what extent do the recent changes to the organization’s structure influence this type of behavior through their actions at the macro (organizational) and micro level (leadership). ^ In addition, there is a related phenomenon that has aided the transformation of the workplace—namely, the ubiquity of technology. In the context of workplace deviance, established research has documented an increasing trend of employees utilizing company technology as a medium and amplifier when harming the organization. It is important to understand whether technology has facilitated or hindered workplace deviance by virtue of the technology itself (as a means), and as part of the new employee roles created by the evolving technology (i.e., virtual employees). Therefore, it is important to identify how individual attitudes and behaviors can be affected by an employee’s degree of virtuality. ^ This study will add to the understanding of how social interaction and physical proximity, leadership and other perception factors contribute to the changes organizations are experiencing as their structure evolves and adapts to compete in the new global environment. ^

Towards the prediction of mutations in genomic sequences

Bio-systems are inherently complex information processing systems. Furthermore, physiological complexities of biological systems limit the formation of a hypothesis in terms of behavior and the ability to test hypothesis. More importantly the identification and classification of mutation in patients are centric topics in today's cancer research. Next generation sequencing (NGS) technologies can provide genome-wide coverage at a single nucleotide resolution and at reasonable speed and cost. The unprecedented molecular characterization provided by NGS offers the potential for an individualized approach to treatment. These advances in cancer genomics have enabled scientists to interrogate cancer-specific genomic variants and compare them with the normal variants in the same patient. Analysis of this data provides a catalog of somatic variants, present in tumor genome but not in the normal tissue DNA. In this dissertation, we present a new computational framework to the problem of predicting the number of mutations on a chromosome for a certain patient, which is a fundamental problem in clinical and research fields. We begin this dissertation with the development of a framework system that is capable of utilizing published data from a longitudinal study of patients with acute myeloid leukemia (AML), who's DNA from both normal as well as malignant tissues was subjected to NGS analysis at various points in time. By processing the sequencing data at the time of cancer diagnosis using the components of our framework, we tested it by predicting the genomic regions to be mutated at the time of relapse and, later, by comparing our results with the actual regions that showed mutations (discovered at relapse time). We demonstrate that this coupling of the algorithm pipeline can drastically improve the predictive abilities of searching a reliable molecular signature. Arguably, the most important result of our research is its superior performance to other methods like Radial Basis Function Network, Sequential Minimal Optimization, and Gaussian Process. In the final part of this dissertation, we present a detailed significance, stability and statistical analysis of our model. A performance comparison of the results are presented. This work clearly lays a good foundation for future research for other types of cancer.^

Resources use and conservation attitudes of local people in the Western Terai landscape, Nepal

Two protected areas: Royal Bardia National Park (RBNP) and Royal Suklaphanta Wildlife Reserve (RSWR) in the Western Terai, Nepal, are under threats due to present political turmoil, uncontrolled immigration, inefficient land reform policies and unsustainable resource use. I did a stratified random questionnaire survey of 234 households to determine how resource use patterns and problems influence conservation attitudes. Chi-square, Student's t, Mann-Whitney and Kruskal-Wallis tests, and multiple regression were used. There was spatio-temporal variability in resource use patterns and dependency. People were collecting eight and seven types of resources in RBNP and RSWR, respectively. However, people in RBNP were more dependent on resources than RSWR. In both areas, the problem of firewood is serious. The mean attitude score of RBNP (8.4 ± 1.44) was significantly higher than the score of RSWR (7.7 ± 1.66; t = 3.24, p = 0.0007). Conservation attitude was determined by variables such as participation in trainings, wildlife damage, and satisfaction towards user groups.

Nutrition Knowledge of Amateur Bicyclists in South Florida, USA

Nutrition is an important component in chronic disease prevention. Diet plays an important role in the athletic performance and the overall health of the amateur bicyclists; yet information concerning diet and amateur bicyclists is lacking. This was a cross-sectional, convenience sample of 125 amateur bicyclists ages 18-65 years from South Florida who consented to SurveyMonkey, web-designed survey on nutrition knowledge. The survey was validated for endurance runners. Less than one-quarter of the participants had adequate nutrition knowledge (score of 75% or higher). Female bicyclists scored higher on nutrition knowledge as compared to males. There were no differences in nutrition knowledge by race, marital status, education or income. Accessibility to nutrition information is abundant, yet the validity of this information is questionable. Amateur bicyclist may not have access to the health professionals available to professional athletes. There is a need for nutrition counseling targeting amateur athletes.

A Study of the Relationship between Employee Virtuality and Technology Deviance as Mediated by Leadership and Employee Perceptions

Recent studies found that organizations have been investing significant capital in developing teams and employees in geographic areas where labor and resources are considerably cheaper. Furthermore, organizations are moving core operational activities such as research and development and back-office processes to globally distributed teams. However, several factors that are inherent to these virtual teams can have a negative impact on employee perceptions and engagement; specifically, the physical and temporal differences between employees and their supervisors, the lack of meaningful social interaction intrinsic to working relationships, and cultural biases that can be fostered when close, daily interactions is not there to help bridge the dissimilarity. When strategies are not in place to mitigate these deficiencies, it can cause virtual employees to disengage emotionally and intellectually from the organization, or lead them to feel justified in working against the best interest of the company. Past research indicates that although deviant behavior in the workplace is not new, transgressions committed by employees have been increasing significantly every year. Beyond the focus of why employees are motivated to act against the organization, to what extent do the recent changes to the organization’s structure influence this type of behavior through their actions at the macro (organizational) and micro level (leadership). In addition, there is a related phenomenon that has aided the transformation of the workplace – namely, the ubiquity of technology. In the context of workplace deviance, established research has documented an increasing trend of employees utilizing company technology as a medium and amplifier when harming the organization. It is important to understand whether technology has facilitated or hindered workplace deviance by virtue of the technology itself (as a means), and as part of the new employee roles created by the evolving technology (i.e, virtual employees). Therefore, it is important to identify how individual attitudes and behaviors can be affected by an employee’s degree of virtuality. This study will add to the understanding of how social interaction and physical proximity, leadership and other perception factors contribute to the changes organizations are experiencing as their structure evolves and adapts to compete in the new global environment.