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Motivational Quotes
A quote is the last price at which a security or commodity traded, meaning the most recent price on which a buyer and seller agreed and at which some amount of the asset was transacted.
2. The bid or ask quotes are the most current prices and quantities at which the shares can be bought or sold. The bid quote shows the price and quantity at which a current buyer is willing to purchase the shares, while the ask shows what a current participant is willing to sell the shares for.
This is also known as an asset's "quoted price".
BREAKING DOWN 'Quote'
1. Quotes for stock and bond prices change throughout the trading day as new transactions occur one after another in a continual stream of trades. When you look up a stock quote for a given company, you are looking at the most recent price at which a trade was successfully executed for that particular security.
2. Potential investors or sellers in a company are more concerned about the bid and ask quotes as they reflect at what prices the stock can be bought or sold, while the price quote as defined in the first definition shows the price at which the stock traded most recently.
A price quote on a security, made by a dealer or market maker, that guarantees a bid or ask price up to the amount quoted. This differs from a nominal quote wherein the price and quantity of a bid or ask quote are not firmly posted.
A quoted price is the most recent price at which an investment (or any other type of asset) has traded. The quoted price of investments such as stocks, bonds, commodities and derivatives changes constantly throughout the day as events occur that affect the financial markets and the perceived value of various investments. The quoted price represents the most recent bid and ask prices that buyers and sellers were able to agree on.
Motivation is a theoretical construct used to explain behavior. It gives the reasons for people's actions, desires, and needs. Motivation can also be defined as one's direction to behavior, or what causes a person to want to repeat a behavior and vice versa
Types of theories and models
Motivation theories can be classified on a number of bases.
Natural vs. Rational based on whether the underlying theory of human Cognition is based on natural forces (drives, needs, desires) or some kind of rationality (instrumentality, meaningfulness, self-identity).
Content vs. Process based on whether the focus is on the content ("what") motivates vs process ("how") motivation takes place.
Psychological theories
Motivation can be conceived of as a cycle in which thoughts influence behaviors, behaviors drive performance, performance affects thoughts, and the cycle begins again. Each stage of the cycle is composed of many dimensions including attitudes, beliefs, intentions, effort, and withdrawal which can all affect the motivation that an individual experiences. Most psychological theories hold that motivation exists purely within the individual, but socio-cultural theories express motivation as an outcome of participation in actions and activities within the cultural context of social groups.
Rational motivationsThe ideal that human beings are rational and human behavior is guided by reason is an old one. However, recent research (on satisficing for example) has significantly undermined the idea of homo economicus or of perfect rationality in favour of a more bounded rationality. The field of behavioural economics is particularly concerned with the limits of rationality in economic agents.
Incentive theories: intrinsic and extrinsic motivation
Motivation can be divided into two different theories known as intrinsic (internal or inherent) motivation and extrinsic (external) motivation.
Intrinsic motivation
See also: Flow (psychology) and Ikigai
Intrinsic motivation has been studied since the early 1970s. Intrinsic motivation is the self-desire to seek out new things and new challenges, to analyze one's capacity, to observe and to gain knowledge.[6] It is driven by an interest or enjoyment in the task itself, and exists within the individual rather than relying on external pressures or a desire for consideration. The phenomenon of intrinsic motivation was first acknowledged within experimental studies of animal behavior. In these studies, it was evident that the organisms would engage in playful and curiosity driven behaviors in the absence of reward. Intrinsic motivation is a natural motivational tendency and is a critical element in cognitive, social, and physical development. Students who are intrinsically motivated are more likely to engage in the task willingly as well as work to improve their skills, which will increase their capabilities. Students are likely to be intrinsically motivated if they:
attribute their educational results to factors under their own control, also known as autonomy or locus of control
believe they have the skills to be effective agents in reaching their desired goals, also known as self-efficacy beliefs
are interested in mastering a topic, not just in achieving good grades
An example of intrinsic motivation is when an employee becomes an IT professional because he or she wants to learn about how computer users interact with computer networks. The employee has the intrinsic motivation to gain more knowledge.[9] Art for art's sake is an example of intrinsic motivation in the domain of art.
Traditionally, researchers thought of motivations to use computer systems to be primarily driven by extrinsic purposes; however, many modern systems have their use driven primarily by intrinsic motivations. Examples of such systems used primarily to fulfil users' intrinsic motivations, include on-line gaming, virtual worlds, online shopping, learning/education, online dating, digital music repositories, social networking, online pornography, gamified systems, and general gamification. Even traditional management information systems (e.g., ERP, CRM) are being 'gamified' such that both extrinsic and intrinsic motivations must increasingly be considered.
Advantages: Intrinsic motivation can be long-lasting and self-sustaining. Efforts to build this kind of motivation are also typically efforts at promoting student learning. Such efforts often focus on the subject rather than rewards or punishments.
Disadvantages: Efforts at fostering intrinsic motivation can be slow to affect behavior and can require special and lengthy preparation. Students are individuals, so a variety of approaches may be needed to motivate different students. It is often helpful to know what interests one's students in order to connect these interests with the subject matter. This requires getting to know one's students. Also, it helps if the instructor is interested in the subject.
Extrinsic motivation
See also: Goal orientation
Extrinsic motivation refers to the performance of an activity in order to attain a desired outcome and it is the opposite of intrinsic motivation.Extrinsic motivation comes from influences outside of the individual. In extrinsic motivation, the harder question to answer is where do people get the motivation to carry out and continue to push with persistence. Usually extrinsic motivation is used to attain outcomes that a person wouldn't get from intrinsic motivation. Common extrinsic motivations are rewards (for example money or grades) for showing the desired behavior, and the threat of punishment following misbehavior. Competition is an extrinsic motivator because it encourages the performer to win and to beat others, not simply to enjoy the intrinsic rewards of the activity. A cheering crowd and the desire to win a trophy are also extrinsic incentives.
Social psychological research has indicated that extrinsic rewards can lead to overjustification and a subsequent reduction in intrinsic motivation. In one study demonstrating this effect, children who expected to be (and were) rewarded with a ribbon and a gold star for drawing pictures spent less time playing with the drawing materials in subsequent observations than children who were assigned to an unexpected reward condition. However, another study showed that third graders who were rewarded with a book showed more reading behavior in the future, implying that some rewards do not undermine intrinsic motivation.While the provision of extrinsic rewards might reduce the desirability of an activity, the use of extrinsic constraints, such as the threat of punishment, against performing an activity has actually been found to increase one's intrinsic interest in that activity. In one study, when children were given mild threats against playing with an attractive toy, it was found that the threat actually served to increase the child's interest in the toy, which was previously undesirable to the child in the absence of threat.
Behaviorist theories
While many theories on motivation have a mentalistic perspective, behaviorists focus only on observable behavior and theories founded on experimental evidence. In the view of behaviorism, motivation is understood as a question about what factors cause, prevent, or withhold various behaviors, while the question of, for instance, conscious motives would be ignored. Where others would speculate about such things as values, drives, or needs, that may not be observed directly, behaviorists are interested in the observable variables that affect the type, intensity, frequency and duration of observable behavior. Through the basic research of such scientists as Pavlov, Watson and Skinner, several basic mechanisms that govern behavior have been identified. The most important of these are classical conditioning and operant conditioning.
Classical and operant conditioning
In classical (or respondent) conditioning, behavior is understood as responses triggered by certain environmental or physical stimuli. They can be unconditioned, such as in-born reflexes, or learned through the pairing of an unconditioned stimulus with a different stimulus, which then becomes a conditioned stimulus. In relation to motivation, classical conditioning might be seen as one explanation as to why an individual performs certain responses and behaviors in certain situations. For instance, a dentist might wonder why a patient does not seem motivated to show up for an appointment, with the explanation being that the patient has associated the dentist (conditioned stimulus) with the pain (unconditioned stimulus) that elicits a fear response (conditioned response), leading to the patient being reluctant to visit the dentist.
In operant conditioning, the type and frequency of behavior is determined mainly by its consequences. If a certain behavior, in the presence of a certain stimulus, is followed by a desirable consequence (a reinforcer), the emitted behavior will increase in frequency in the future, in the presence of the stimulus that preceded the behavior (or a similar one). Conversely, if the behavior is followed by something undesirable (a punisher), the behavior is less likely to occur in the presence of the stimulus. In a similar manner, removal of a stimulus directly following the behavior might either increase or decrease the frequency of that behavior in the future (negative reinforcement or punishment). For instance, a student that gained praise and a good grade after turning in a paper, might seem more motivated in writing papers in the future (positive reinforcement); if the same student put in a lot of work on a task without getting any praise for it, he or she might seem less motivated to do school work in the future (negative punishment). If a student starts to cause trouble in class gets punished with something he or she dislikes, such as detention (positive punishment), that behavior would decrease in the future. The student might seem more motivated to behave in class, presumably in order to avoid further detention (negative reinforcement).
The strength of reinforcement or punishment is dependent on schedule and timing. A reinforcer or punisher affects the future frequency of a behavior most strongly if it occurs within seconds of the behavior. A behavior that is reinforced intermittently, at unpredictable intervals, will be more robust and persistent, compared to one that is reinforced every time the behavior is performed.For example, if the misbehaving student in the above example was punished a week after the troublesome behavior, that might not affect future behavior. Instead, whatever behavior the student was performing just prior to the punishment would instead decrease.
In addition to these basic principles, antecedent factors also affect behavior. Behavior is punished or reinforced in the context of whatever stimuli were present just before the behavior was performed, which means that a particular behavior might not be affected in every context, just because it was punished or reinforced in a particular one.A lack of praise for school-related behavior might, for instance, not decrease sports-related behavior usually reinforced by praise.
The various mechanisms of operant conditioning may be used to understand the motivation for various behaviors by examining what happens just after the behavior (the consequence), in what context the behavior is performed or not performed (the antecedent), and under what circumstances (motivating operators).
Motivating operations
Motivating operations, MOs, relate to the field of motivation in that they help improve understanding aspects of behavior that are not covered by operant conditioning. In operant conditioning, the function of the reinforcer is to influence future behavior. The presence of a stimulus believed to function as a reinforcer does not according to this terminology explain the current behavior of an organism – only previous instances of reinforcement of that behavior (in the same or similar situations) do. Through the behavior-altering effect of MOs, it is possible to affect current behavior of an individual, giving another piece of the puzzle of motivation.
Motivating operations are factors that affect learned behavior in a certain context. MOs have two effects: a value-altering effect, which increases or decreases the efficiency of a reinforcer, and a behavior-altering effect, which modifies learned behavior that has previously been punished or reinforced by a particular stimulus.
When a motivating operation causes an increase in the effectiveness of a reinforcer, or amplifies a learned behavior in some way (such as increasing frequency, intensity, duration or speed of the behavior), it functions as an establishing operation, EO. A common example of this would be food deprivation, which functions as an EO in relation to food: the food-deprived organism will perform behaviors previously related to the acquisition of food more intensely, frequently, longer, or faster in the presence of food, and those behaviors would be especially strongly reinforced.[17] For instance, a fast-food worker earning minimal wage, forced to work more than one job to make ends meet, would be highly motivated by a pay raise, because of the current deprivation of money (a conditioned establishing operation). The worker would work hard to try to achieve the raise, and getting the raise would function as an especially strong reinforcer of work behavior.
Conversely, a motivating operation that causes a decrease in the effectiveness of a reinforcer, or diminishes a learned behavior related to the reinforcer, functions as an abolishing operation, AO. Again using the example of food, satiation of food prior to the presentation of a food stimulus would produce a decrease on food-related behaviors, and diminish or completely abolish the reinforcing effect of acquiring and ingesting the food.Consider the board of a large investment bank, concerned with a too small profit margin, deciding to give the CEO a new incentive package in order to motivate him to increase firm profits. If the CEO already has a lot of money, the incentive package might not be a very good way to motivate him, because he would be satiated on money. Getting even more money wouldn't be a strong reinforcer for profit-increasing behavior, and wouldn't elicit increased intensity, frequency or duration of profit-increasing behavior.
Motivation and psychotherapy
See also: Motivational interviewing
Motivation lies at the core of many behaviorist approaches to psychological treatment. A person with autism-spectrum disorder is seen as lacking motivation to perform socially relevant behaviors – social stimuli are not as reinforcing for people with autism compared to other people. Depression is understood as a lack of reinforcement (especially positive reinforcement) leading to extinction of behavior in the depressed individual. A patient with specific phobia is not motivated to seek out the phobic stimulus because it acts as a punisher, and is over-motivated to avoid it (negative reinforcement). In accordance, therapies have been designed to address these problems, such as EIBI and CBT for major depression and specific phobia.
Incentive theory
Incentive theory is a specific theory of motivation, derived partly from behaviorist principles of reinforcement, which concerns an incentive or motive to do something. The most common incentive would be a reward. Rewards can be tangible or intangible, and is presented generally after the occurrence of the action or behavior that one is trying to correct or cause to happen again. This is done by associating positive meaning to the behavior and or action. Studies show that if the person receives the reward immediately, the effect is greater, and decreases as delay lengthens. Repetitive action-reward combination can cause the action to become a habit. Motivation comes from two sources: oneself, and other people (see § Intrinsic motivation and § Extrinsic motivation, above).
"Reinforcers and reinforcement principles of behavior differ from the hypothetical construct of reward." A reinforcer is anything that follows an action, with the intentions that the action will now occur more frequently. From this perspective, the concept of distinguishing between intrinsic and extrinsic forces is irrelevant.
Incentive theory in psychology treats motivation and behavior of the individual as they are influenced by beliefs, such as engaging in activities that are expected to be profitable. Incentive theory is promoted by behavioral psychologists, such as B.F. Skinner. Incentive theory is especially supported by Skinner in his philosophy of Radical behaviorism, meaning that a person's actions always has social ramifications: and if actions are positively received people are more likely to act in this manner, or if negatively received people are less likely to act in this manner.
Incentive theory distinguishes itself from other motivation theories, such as drive theory, in the direction of the motivation. In incentive theory, stimuli "attract", a person towards them, and push them towards the stimulus. In terms of behaviorism, incentive theory involves positive reinforcement: the reinforcing stimulus has been conditioned to make the person happier. As opposed to in drive theory, which involves negative reinforcement: a stimulus has been associated with the removal of the punishment—the lack of homeostasis in the body. For example, a person has come to know that if they eat when hungry, it will eliminate that negative feeling of hunger, or if they drink when thirsty, it will eliminate that negative feeling of thirst.
Socio-cultural Theory
Sociocultural theory (see Cultural-historical psychology) emphasizes impact of activity and actions mediated through social interaction, and within social contexts. Sociocultural theory represents a shift from traditional theories of motivation, which view the individual’s innate drives or mechanistic operand learning as primary determinants of motivation. Critical elements to socio-cultural theory applied to motivation include, but are not limited to, the role of social interactions and the contributions from culturally-based knowledge and practice.Sociocultural theory extends the social aspects of Cognitive Evaluation Theory, which espouses the important role of positive feedback from others during action,but requires the individual as the internal locus of causality. Sociocultural theory predicts that motivation has an external locus of causality, and is socially distributed among the social group
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