6.2 A rational-economic perspective on risk

A rational-economic perspective generally represents risk as a combination of the expected magnitude of a gain or loss, combined with some probability distribution of anticipated outcomes. Economic ideas of risk behaviour are founded largely on expected utility theory. Expected utility theory predicts that investors will always be risk averse. The shape of the utility curve (utility plotted against increasing wealth) is such that utility increases with wealth, but at a declining rate. This is
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8.1 Reading 1: The Lancet Paper

Fitzpatrick, M. (2004) Chapter 8 ‘The Lancet Paper’ taken from MMR and Autism: What Parents Need to Know, London, Routledge. Copyright © 2004 Michael Fitzpatrick.

We identified associated gastrointestinal disease and developmental regression in a group of previously normal children, which was generally associated in time with possible environmental triggers.

(Wakefield et al., 1998,
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The rise and fall of the interrobang


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Supply chains: healthcare
From surgical tools to obstetric instruments, personalised colostomy bags to hip implants, the UK's National Health Service requires an astonishing number of products to be manufactured, delivered and routinely managed. What happens behind the scenes to ensure the systems function smoothly? This album focuses on the different roles of B.Braun, a large supplier of medical equipment which also provides customised services for patients. In this time-critical setting, their supply chain processes mu
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2 Gaynor and Liz comment on Brian and Sylvia's situation

At the time of the recording, Gaynor was a social worker employed by social services. She specialised in working with older people. Liz was an occupational therapist also employed by social services. Both had extensive experience of carrying out assessments under the NHS and Community Care Act 1990.

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2.1 Introduction

Globalisation is used in different contexts to mean quite different things. According to the prestigious Economist magazine's Pocket Strategy: The Essentials of Business Strategy from A to Z, globalisation is: ‘The marketing of uniform products around the globe, based on an idea put forward by Harvard's Theodore Levitt in an article published in the Harvard Business Review in 1983’ (The Economist Books, 1998, p. 88). In his article ‘The globalization of markets’,
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3.7.1 Deafblindness

There are about 23,000 deafblind people in the UK. Some are totally deaf and totally blind, while others have some hearing and/or some vision (RNID, 2005, ‘Deafblind people’). Those who are totally blind may read Braille. Totally deafblind people may use the deafblind manual alphabet to communicate if they cannot hear or speak and cannot see sufficiently to use full sign language. The deafblind alphabet allows the ‘speaker’ to spell out words on the ‘listener's’ hand using specifi
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2.4 The atmosphere and polar ice

David A. Rothery Teach Yourself Planets, Chapter 6, pp. 66-75, Hodder Education, 2000, 2003.

Copyright © David Rothery

The Moon's atmosphere is almost as insubstantial as Mercury's, and probably has much the same origin. The Clementine mission returned our first clear views of the lunar poles, showing sites in particular near the south pole that are permanently in shadow, and which could therefore be places where ice might accumulate (Figure 1). Clementine's
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Learning outcomes

After studying this course, you should be able to:

  • explain correctly the meaning of the emboldened terms in the main text and use them correctly in context

  • describe simply what a pressure wave is and give a simple explanation of sound in terms of a travelling pressure wave

  • explain ‘cycle’ in terms of an oscillating source and the pressure wave it produces

  • relate amplitude (including peak-to-peak and r.m.s.), frequency, period and
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Music in Code
Today, listening to music is easy - we have CDs, MP3s, radio, television and the internet. But around a hundred years ago life was very different - either you had to play music yourself or have someone else play it for you. The 15 video tracks in this album demonstrate various ways to play music by mechanical means, with the ingenious use of levers, pegs, cylinders or paper rolls, and explain the principles used to create and control these music-making machines. This material forms part of TA212
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2.5 Summary of Section 1

  • England, Scotland and Wales are nations.

  • Wales was conquered by the English in 1282 and its parliamentary union with England took place in 1536.

  • The United Kingdom of Great Britain was formed by the Act of Union of 1707, although the term Great Britain had been in use since 1603, when James VI of Scotland became James I of England (including Wales). Later unions created the United Kingdom of Great Britain and Ireland and,
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3.5 Default or credit risk

This is the risk that contractual returns will not be paid because the borrower's financial situation has deteriorated to the point that it is no longer able to service the debt. It is possibly the commonest type of risk in commerce generally, and you are probably familiar with it in some shape or form. It affects many areas of business decision-making over and beyond the specialised world of investment risk and return. Most large companies devote significant resources to the identification,
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Double Angle Identities, Half Angle, and Reduction Formulas
OpenStax CAT

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Unequal Mobility and its Social Consequences
Dr Karen Lucas delivers a seminar as part of the 'Socio-spatial inequalities, transport and mobilities' seminar series held in the Transport Studies Unit during Hilary Term 2012.
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Invasion of Poland 1 of 3
1943 War Department Film Bulletin No 48 produced by the Signal Corps Photographic Center. Invasion of Poland in Sept of 1939 which was the beginning of WWII. Contains footage shot by German troops and confiscated by the Allied Forces of artillery and infantry attacks which resulted in the capture of Warsaw. (06:51)
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Embedding enterprise in the curriculum
This presentation discusses the pioneering approach to the embedding of enterprise in the curriculum through people and pedagogy
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Conclusion

This free course provided an introduction to studying Mathematics. It took you through a series of exercises designed to develop your approach to study and learning at a distance and helped to improve your confidence as an independent learner. 


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The University of Memphis minute for the week of September 28, 2012.
The University of Memphis minute for the week of September 28, 2012.
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Unique Learning Environment of MIT
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Creating a City Administration System (CAS) using Virtual Reality in an Immersive Collaborative Envi
Current problems in administration of a city are found to be decentralized and noninteractive for an effective city management. This usually will result in inconsistencies of decision-making, inefficient services and slow response to a particular action. City administration often spends more money, time and human resource because of these problems. This research demonstrates our research and development of creating a City Administration System (CAS) to solve the problems stated above. The task o
Author(s): Ahmad Rafi, M.E. and Mohd Fazidin, J.

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