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Bard Early College New Orleans Bard Early College at the Harlem Children's Zone Bard Early College Hudson
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https://en.wikipedia.org/wiki/Bard_High_School_Early_College
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In 2009, President Barack Obama singled out BHSEC as the model for the future in his Centennial Speech to the NAACP: We also have to explore innovative approaches such as those being pursued here in New York City; innovations like Bard High School Early College and Medgar Evers College Preparatory School that are challenging students to complete high school and earn a free associate's degree or college credit in just four years.
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https://en.wikipedia.org/wiki/Bard_High_School_Early_College
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A newspaper bag or newspaper sleeve is a lightweight bag or sleeve used to wrap newspapers to protect them from the elements. These bags are primarily made of polyethylene, although some distributors have moved to using biodegradable bags. These bags may be clear to display the newspaper inside, but are ordinarily imprinted with advertisements.
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Newspaper publishers may use bags as part of their standard preparation for delivery, or only during expected inclement weather. When used intermittently, paperboys would roll the papers and insert them in the plastic sleeves as part of their daily preparations. == References ==
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The meridian 9° east of Greenwich is a line of longitude that extends from the North Pole across the Arctic Ocean, Europe, Africa, the Atlantic Ocean, the Southern Ocean, and Antarctica to the South Pole. The 9th meridian east forms a great circle with the 171st meridian west.
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Starting at the North Pole and heading south to the South Pole, the 9th meridian east passes through:
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Financial contagion refers to "the spread of market disturbances – mostly on the downside – from one country to the other, a process observed through co-movements in exchange rates, stock prices, sovereign spreads, and capital flows". Financial contagion can be a potential risk for countries who are trying to integrate their financial system with international financial markets and institutions. It helps explain an economic crisis extending across neighboring countries, or even regions. Financial contagion happens at both the international level and the domestic level.
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https://en.wikipedia.org/wiki/Financial_contagion
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At the domestic level, usually the failure of a domestic bank or financial intermediary triggers transmission when it defaults on interbank liabilities and sells assets in a fire sale, thereby undermining confidence in similar banks. An example of this phenomenon is the subsequent turmoil in the United States financial markets. International financial contagion, which happens in both advanced economies and developing economies, is the transmission of financial crisis across financial markets for direct or indirect economies.
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However, under today's financial system, with the large volume of cash flow, such as hedge fund and cross-regional operation of large banks, financial contagion usually happens simultaneously both among domestic institutions and across countries. The cause of financial contagion usually is beyond the explanation of real economy, such as the bilateral trade volume.The term financial contagion has created controversy throughout the past years. Some argue that strong linkages between countries are not necessarily financial contagion, and that financial contagion should be defined as an increase in cross-market linkages after a shock to one country, which is very hard to figure out by both theoretical model and empirical work. Also, some scholars argue that there is actually no contagion at all, just a high level of market co-movement in all periods, which is market "interdependence".More generally, there is controversy surrounding the usefulness of "contagion" as a metaphor to describe the "catchiness" of social phenomena, as well as debate about the application of context-specific models and concepts from biomedicine and epidemiology to explain the diffusion of perturbations within financial systems.
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Financial contagion can create financial volatility and can seriously damage the economy and financial systems of countries. There are several branches of classifications that explain the mechanism of financial contagion, which are spillover effects and financial crisis that are caused by the influence of the four agents' behavior. The four agents that influence financial globalization are governments, financial institutions, investors, and borrowers.The first branch, spill-over effects, can be seen as the negative externalities. Spillover effects are also known as fundamental-based contagion.
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These effects can happen either globally, heavily affecting many countries in the world, or regionally, affecting only neighboring countries. The big players, who are more of the larger countries, usually have a global effect. The smaller countries are the players who usually have a regional effect.
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"These forms of co-movements would not normally constitute contagion, but if they occur during a period of crisis and their effect is adverse, they may be expressed as contagion. ""Fundamental causes of contagion include macroeconomic shocks that have repercussions on an international scale and local shocks transmitted through trade links, competitive devaluations, and financial links." It can lead to some co-movements in capital flows and asset prices.
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Common shocks can be similar to the effects of financial links. "A financial crisis in one country can lead to direct financial effects, including reductions in trade credits, foreign direct investment, and other capital flows abroad." Financial links come from financial globalization since countries try to be more economically integrated with global financial markets.
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Allen and Gale (2000), and Lagunoff and Schreft (2001) analyze financial contagion as a result of linkages among financial intermediaries. The former provide a general equilibrium model to explain a small liquidity preference shock in one region can spread by contagion throughout the economy and the possibility of contagion depends strongly on the completeness of the structure of interregional claims. The latter proposed a dynamic stochastic game-theoretic model of financial fragility, through which they explain interrelated portfolios and payment commitments forge financial linkages among agents and thus make two related types of the financial crisis can occur in response.
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Trade links is another type of shock that has its similarities to common shocks and financial links. These types of shocks are more focused on its integration causing local impacts. "Any major trading partner of a country in which a financial crisis has induced a sharp current depreciation could experience declining asset prices and large capital outflows or could become the target of a speculative attack as investors anticipate a decline in exports to the crisis country and hence a deterioration in the trade account."
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Kaminsky and Reinhart (2000) document the evidence that trade links in goods and services and exposure to a common creditor can explain earlier crises clusters, not only the debt crisis of the early 1980s and 1990s, but also the observed historical pattern of contagion. Competitive devaluation is also associated with financial contagion. Competitive devaluation, which is also known as a currency war, is when multiple countries compete against one another to gain a competitive advantage by having low exchange rates for their currency.
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"Devaluation in a country hit by a crisis reduces the export competitiveness of the countries with which it competes in third markets, putting pressure on the currencies of other countries; especially when those currencies do not float freely." This action causes countries to act irrationally due to fear and doubt. "If market participants expect that a currency crisis will lead to a game of competitive devaluation, they will naturally sell their holdings of securities of other countries, curtail their lending, or refuse to roll over short-term loans to borrowers in those countries.
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"Another branch of contagion is a financial crisis, which is also referred to irrational phenomena. A financial crisis as a branch of contagion is formed when "a co-movement occurs, even when there are no global shocks and interdependence and fundamentals are not factors." It is caused by any of the four agents' behaviors who influence financial globalization.
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Some examples that can cause contagion are increased risk aversion, lack of confidence, and financial fears. Under the correlated information channel, price changes in one market are perceived as having implications for the values of assets in other markets, causing their prices to change as well (King and Wadhwani (1990)). Also, Calvo (2004) argues for correlated liquidity shock channel meaning that when some market participants need to liquidate and withdraw some of their assets to obtain cash, perhaps after experiencing an unexpected loss in another country and need to restore capital adequacy ratios.
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This behavior will effectively transmit the shock. Out of the four agents, an investor's behavior seems to be one of the biggest one that can impact a country's financial system.
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There are three different types of investor behaviors, which generally are considered rational or irrational and individually or collectively. The first type of behavior is when "investors take action that is ex-ante individually rational but lead to excessive co-movements – excessive in the sense that they cannot be explained by real fundamentals." It breaks down into two sub-categories, liquidity and incentive problems and information asymmetries and coordination problems.
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The first sub-category is liquidity and incentive problems. A reduction of equity prices can result in a loss of money for investors. "These losses may induce investors to sell off securities in other markets to raise cash in anticipation of a higher frequency of redemptions."
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These liquidity problems are also challenges for banks, specifically commercial banks. Incentive problems can also have the same effects as liquidity problems. For instance, the first signs of a crisis may cause investors to sell their holdings in some countries, resulting in equity and different asset markets in economies to decline in value.
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This causes the value of currencies in these economies to also decrease. The second sub-category is information asymmetries and coordination problems. This type of investor behavior can either be considered rational or irrational.
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This sub-category is when one group, or country, has more or significantly better information compared to another group or country. This can cause a market failure problem, which could potentially cause a financial crisis. The second type of investor behavior concentrates on multiple equilibriums.
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It focuses on the investor's behavioral changes when the financial market can have multiple equilibrium changes. Thus, "contagion occurs when a crisis in one financial market causes another financial market to move or jump to a bad equilibrium, characterized by a devaluation, a drop in asset prices, capital outflows, or debt default." The third type of behavior is when there is a change in the international financial system, or in the rules of the game.
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It can make investors adjust their behaviors after a financial transaction occurs internationally or an initial crisis occurs. These behaviors can lead to spillover effect, causing contagion. In addition, there are some less-developed explanations for financial contagion.
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Some explanations for financial contagion, especially after the Russian default in 1998, are based on changes in investor "psychology", "attitude", and "behavior". This stream of research date back to early studies of crowd psychology of Mackay (1841) and classical early models of disease diffusion were applied to financial markets by Shiller (1984). Also, Kirman (1993) analyses a simple model of influence that is motivated by the foraging behavior of ants, but applicable, he argues, to the behaviour of stock market investors.
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Faced with a choice between two identical piles of food, ants switch periodically from one pile to the other. Kirman supposes that there are N ants and that each switch randomly between piles with probability ε (this prevents the system getting stuck with all at one pile or the other), and imitates a randomly chosen other ant with probability δ. Eichengreen, Hale and Mody (2001) focus on the transmission of recent crises through the market for developing country debt. They find the impact of changes in market sentiment tends to be limited to the original region.
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They also find market sentiments can more influence prices but less on quantities in Latin America, compared with Asian countries. Besides, there are some researches on geographic factors driving the contagion. De Gregorio and Valdes (2001) examine how the 1982 debt crisis, the 1994 Mexican crisis, and the 1997 Asian crisis spread to a sample of twenty other countries. They find that a neighborhood effect is the strongest determinant of which countries suffer from contagion. Trade links and pre-crisis growth similarities are also important, although to a lesser extent than the neighborhood effect.
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The term "contagion" was first introduced in July 1997, when the currency crisis in Thailand quickly spread throughout East Asia and then on to Russia and Brazil. Even developed markets in North America and Europe were affected, as the relative prices of financial instruments shifted and caused the collapse of Long-Term Capital Management (LTCM), a large U.S. hedge fund. The financial crisis beginning from Thailand with the collapse of the Thai baht spread to Indonesia, the Philippines, Malaysia, South Korea and Hong Kong in less than 2 months.
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This caused economists to realize the importance of financial contagion and produced a large volume of researches on it. Yet, there were episodes of international financial crisis that occurred before the introduction of the term contagion. Some analysts, including Bordo and Murshid, identify the crisis that happened in 1825 as the first international financial crisis.
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"The liberation of Latin American in the early 1820s led to a massive inflow of capital from Britain to finance the exploitation of gold and silver mines and of sovereign loans to the newly independent republics." Between new industries beginning to grow, an increase in foreign influence, and a liberal monetary expansion after the Napoleonic Wars, there was an increase in irrationality on the London Stock Exchange. As a result, the bank decided to increase its discount rate.
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The stock market crashed in October, which triggered a banking crisis around December. This crisis spread throughout the continent. "This crisis spread to Latin America as the overseas loans were cut off, a decline in investment and exports reduced tax revenues and led to sovereign debt defaults across the region.
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"One of the biggest worldwide crises was the stock market crash on Wall Street in October 1929. The failure from 1929–33 was foreshadowed by collapses in commodity prices in multiple emerging nations. The stock market boom in New York by 1928 choked off U.S.
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capital flows to central Europe and Latin America and precipitated currency crises in a number of countries (Australia, Argentina, Uruguay, and Brazil) and early in 1929. The Wall Street crash caused stock market scares globally. This is known as the Great Depression.
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The U.S. crisis in 1929 turned into the Great Depression by 1930 and 1931 because the Federal Reserve was unsuccessful at relieving multiple banking panics. The resultant collapse in prices and output worldwide forced sovereign borrowers to cut back on servicing their debts and then to default, precipitating a collapse of foreign lending in 1931.One of the contributors to the 1997 Asian financial crisis was excessive borrowing by national banks.
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National banks continuously borrowed from countries abroad and continuously lent within their own country. At the time, it did not seem excessive, but it appeared so in the aftermath.
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Bad loans were made, risks were taken due to misunderstandings, and the level of debt continued to grow. "After the start of the crisis, national equity betas increased and average returns fell substantially". The first currency that faced problems was the Thai baht.
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With the Thai baht having issues, it doubled the debt of Thai organizations, which started the spread of the crisis to other countries. As this was happening, investors started reevaluating their investments in this region. This caused the flow of money to disappear rapidly, resulting in the growth of this crisis.
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The crisis of 2007–08 has been identified as the most severe since the 1930 Great Depression. Major financial institutions around the world were greatly affected. The history of the 2007–08 crisis traces back to the bursting of the housing bubble in the United States, and the increase in mortgage defaults.
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This came about as a result of the mandate by the U.S. Congress for the Federal National Mortgage to increase access to low-income housing.
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As a result of the high default rates, many financial institutions across the U.S. were affected.
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Although the U.S. government had attempted to salvage the situation through liquidity doses, the crisis further deepened. By March 2008, Bear Sterns, a U.S.
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investment bank, required the efforts of the government to be rescued. At this stage, it was clear that the crisis had deepened. Other financial institutions, such as the Lehman bank and American International Group (AIG), started to feel the effects of the crisis.
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The severity of this crisis grew, and most U.S. and European banks were pulling back their international loans. This move caused major financial problems across the world, especially for those countries that rely heavily on international borrowing.
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Financial contagion was felt severely, especially in countries whose financial systems were vulnerable due to local housing bubbles and current account deficits. Some of the countries affected were Germany, Iceland, Spain, Britain and New Zealand among others. Many analysts and governments had failed to predict the real effects of the crisis. As major economies of the world started to feel the effects of the crisis, nearly every economy was affected directly or indirectly. In particular, there was a drop in exports and a lowering of commodity prices.
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Financial contagion is one of the main causes of financial regulation. A top priority for both domestic financial regulators and international organizations is to prevent financial contagion using financial regulation and planning the international financial architecture. This priority was especially important during the 2007-2008 period, when global economies were under challenge from the U.S. subprime mortgage crisis and European sovereign debt crisis.
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At the international level, under today's modern financial systems, a complicated web of claims and obligations link the balance sheets of a wide variety of intermediaries, such as hedge funds and banks, into a global financial network. The development of sophisticated financial products, such as credit default swaps and collateralized debt obligations, has complicated the financial regulation. As has been shown by the U.S.
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financial recession, the trigger of failure of Lehman Brothers dramatically spread the shock to the whole financial system and other financial markets. Therefore, understanding the reasons and mechanisms of international financial contagion can help policy makers improve the global financial regulation system and thus make it more resistant to shocks and contagions. At domestic level, financial fragility is always associated with a short maturity of outstanding debt as well as contingent public liabilities.
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Therefore, a better domestic financial regulation structure can improve an economy's liquidity and limit its exposure to contagion. A better understanding of financial contagion between financial intermediaries, including banking, rating agencies and hedge funds will be conducive to making financial reform in both U.S. and European Countries. For example, financial reformers study how to set up the capital ratio to balance maximizing banks' profit and shielding banks from shocks and contagions.
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The econometric literature on testing for contagion has focused on increases in the correlation of returns between markets during periods of crisis. Forbes and Rigobon (2002) described the current imprecision and disagreement surrounding the term contagion. It proposes a concrete definition, a significant increase in cross-market linkages after a shock, and suggests using the term "interdependence" in order to differentiate this explicit definition from the existing literature. It shows the elementary weakness of simple correlation tests: with an unchanged regression coefficient, a rise in the variance of the explanatory variable reduces the coefficient standard error, causing a rise in the correlation of a regression.
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Let V {\displaystyle {\mathcal {V}}} is the set of financial assets and p v ( t ) {\displaystyle p_{v}(t)} be the price of asset v ∈ V {\displaystyle v\in {\mathcal {V}}} at time t {\displaystyle t} . A network with contagion is defined in matrix form as Γ ( t ) ∈ { 0 , 1 } n × n {\displaystyle \Gamma (t)\in \{0,1\}^{n\times n}} , whose ( v , v ′ ) {\displaystyle (v,\,v^{\prime })} component represents the connection between two stocks v {\displaystyle v} and v ′ {\displaystyle v^{\prime }} . In vector notation, the standard model for contagion tests can be written as a VAR (vector autoregression) model of order τ {\displaystyle \tau }: ln p ( t ) = Γ ( t − 1 ) ln p ( t − 1 ) + … + Γ ( t − τ ) ln p ( t − τ ) + ϵ v ( t ) , {\displaystyle \ln \mathbf {p} (t)\,=\,\Gamma (t-1)\ln \mathbf {p} (t-1)\,+\,\ldots \,+\,\Gamma (t-\tau )\ln \mathbf {p} (t-\tau )\,+\,\epsilon _{v}(t),} where ϵ v ( t i ) {\displaystyle \epsilon _{v}(t_{i})} is a random term.
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In their specific application, Forbes and Rigobon (2002) estimated a variant of this model to study contagion between countries. They first estimated the variance-covariance matrices for each pair of countries during the stable period, turmoil period, and full period. Then, they use the estimated variance-covariance matrices to calculate the cross-market correlation coefficients (and their asymptotic distributions) for each set of markets and periods.
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As Pesaran and Pick (2007) observe, however, financial contagion is a difficult system to estimate econometrically. To disentangle contagion from interaction effects, county-specific variables have to be used to instrument foreign returns. Choosing the crisis period introduces sample selection bias, and it has to be assumed that crisis periods are sufficiently long to allow correlations to be reliably estimated.
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In consequence, there appears to be no strong consensus in the empirical literature as to whether contagion occurs between markets, or how strong it is. The financial and economic literature presents ample evidence that in time of crisis co-movements between the returns of assets increase. This increase in correlation between the returns of the loans' collateral causes an increase in the volatility of bank assets and, therefore an increase in the value of the bank's stock and its cost of default, while decreasing the value of its debt.
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The increase in correlation can be explained by a procyclical forbearance policy of regulators. Since regulators have greater forbearance during systemic crises, the increase in correlation creates incentives for banks to herd and become interconnected so that when they fail, they fail together, increasing their chances of being bailed-out. Peleg and Raviv (2018) shows that as the correlation between the returns of bank's borrowers' increases, asset risk increases as well. Thus an increase in co-movement of a bank's loan portfolio increases the bank's cost of default through a second channel: an increase in risk shifting.
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Recently, Nasini and Erdemlioglu have proposed a model to study how the effects on stock price dynamics of different network propagation channels vary according to the state of the economy. Drawing on the view that decisions and outcomes of financial firms are influenced by multiple network channels, they studied the stock price dynamics of listed enterprises connected by supply-chain relationships, competition linkages and business partnerships. Let s v ( t ) {\displaystyle s_{v}(t)} be the market value of asset v ∈ V {\displaystyle v\in {\mathcal {V}}} , defined as the share price times the number of shares outstanding: s v ( t ) = p v ( t ) ν v ( t ) {\displaystyle s_{v}(t)=p_{v}(t)\nu _{v}(t)} . At each moment in time t {\displaystyle t} , a network with connection of type c ∈ C {\displaystyle c\in {\mathcal {C}}} is defined in matrix form as Γ ( t , c ) ∈ { 0 , 1 } n × n {\displaystyle \Gamma (t,c)\in \{0,1\}^{n\times n}} , whose ( v , v ′ ) {\displaystyle (v,\,v^{\prime })} component represents the c t h {\displaystyle c^{th}} connection between two stocks v {\displaystyle v} and v ′ {\displaystyle v^{\prime }} .
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Define s ^ v , v ′ ( ℓ ) = ∑ c β c ℓ s v , v ′ Δ ( t − ℓ ) γ v , v ′ ( c ) {\displaystyle {\hat {s}}_{v,v^{\prime }}(\ell )=\sum _{c}\beta _{c\ell }s_{v,v^{\prime }}^{\Delta }(t-\ell )\gamma _{v,v^{\prime }}(c)} , where s v , v ′ Δ ( t − ℓ ) {\displaystyle s_{v,v^{\prime }}^{\Delta }(t-\ell )} quantifies the difference between the market value of v {\displaystyle v} and v ′ {\displaystyle v^{\prime }} . The financial econometric model of Nasini and Erdemlioglu can be written as p v ( t ) = η v ( t ) ∏ ℓ = 1 τ ∏ v ′ ∈ V p v ′ ( t i − ℓ ) s ^ v , v ′ ( ℓ ) , {\displaystyle p_{v}(t)~=~\eta _{v}(t)\prod _{\ell =1}^{\tau }\prod _{v^{\prime }\in {\mathcal {V}}}p_{v^{\prime }}(t_{i-\ell })^{{\hat {s}}_{v,v^{\prime }}(\ell )},} where η v ( t ) {\displaystyle \eta _{v}(t)} is a random term. They derived an important relationship between this model and the classical Fama–French three-factor model.
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Filter theory is a sociological theory concerning dating and mate selection. It proposes that social structure limits the number of eligible candidates for a mate. Most often, this takes place due to homogamy, as people seek to date and marry only those similar to them (characteristics that are often taken into account are age, race, social status and religion). Homogamy is the idea of marriage between spouses who share similar characteristics, where heterogamy denotes marriage between spouses of different characteristics.
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The idea of "opposites attract” is heterogamous, as well as the idea that one spouse has complementing, not similar characteristics to the other. : 4 Helpful terms in defining filter theory are "endogamy", which indicates that both partners come from the same group (ethnicity, religion, culture, age similarity, lifestyle, etc.) and may also carry cultural sanctions against marrying outside of one's own group,: 4 and "exogamy", which indicates marrying out of one's own social group. Examples of exogamy include marrying outside of one's own race or religion.
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Filtering model created by psychologists Louis Janda and Karen Klende-HamelMarried Couples → Eligible Partner Starting with the base of all people, remove married couples, who are not available to be in a relationship, and Eligible Partners remain; all those who are available to be in a relationship. Compatibility Filter → Eligible Individuals Attracted to Each Other The Compatibility Filter removes all people who are not attracted to each other, leaving only those who are compatible Physical Attractiveness Filter → Homogamous Potential Partners Outside appearance and attraction People are more likely to be physically attracted to those who look similar to themselves. Humans have inherited the innate instinct to survive and reproduce and must do both within the confines of the particular environment where they live, from their animal ancestors. Nevertheless, the importance of physical homogamy in marital relationships is decreasing This can be due to interracial marriage Similar and Complementary Views Filter People are more likely to choose to be with a partner who think very similarly to themselves while straying from people with conflicting ideas and views.
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Potential Field of Partners After all filters have been applied, this group of people remains as potential partners. People Who Live in Proximity → Total Field of Potential PartnersOf all the people who are potential partners, for practical reason people choose partners who are close by. With growing communications and technological advances, proximity is not limited to being geographically nearby. The spreading availability of online dating is increasing the ability to communicate without face-to-face interactions and activities.
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Different cultures have different desired aspects in a partner, but all of these different aspects fall into the same categories. For example, love-marriage selection criteria seem to reflect individuals' personal concerns, such as personal and interpersonal qualities of the prospective mate and compatibility issues, while arranged-marriage selection criteria, not surprisingly, reflect concerns of the total family unit (Blood 1972). These family concerns include socioeconomic status, health, strength, fertility, temperament, and emotional stability of the prospective spouse. Yet, the similarities in characteristics between the two partners is consistent in both marriages.
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People are drawn to someone with a similar lifestyle and standard of living. These people have a higher chance of common personal tastes, opinions and values with one another, making it easier to establish affinitive relations. These aspects can be assimilated through the different social networks.
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Contrary to popular belief, having a common profession is not the strongest predictor of compatibility; educational homophily trends towards confirming cultural differences and similarities, which are stronger than occupational stratification. In essence, working in proximity with someone in a similar work force does not necessarily lead to a stronger bond than having educational similarities. Some of this leads back to the similarities between cultures and education; in education there is a separation of the larger peer group into smaller peer groups, of which share common economic status, subject of study, and/or backgrounds. This allows homogamy between these subgroups of peers, and thus creating smaller groups that share two or more similarities. This example of status and educational culture reflects how people meet in the world through social networks.
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A study carried out by sociologist Robert F. Winch on twenty five couples for the purpose of testing out the theory of the ways in which complementariness appears to function in mate-selection. The theory is both psychological and sociological because it derives from the Freudian tradition, but also concerns the formation of a social group; the marital dyad. : 12 The theory states that individuals choose partners based on their needs being complementary to oneself. It begins with the observation that, in the United States, a couple is first formed by the meeting and acquainting of one another, and then by falling in love before deciding to marry.
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As a result, Winch proposes that, "since meeting appears to be a precondition for falling in love, what observations can we make about whom one meets or is likely to meet? ": 12 Well, he states, it is more common than not that if one frequents certain places, they will most likely find someone who is, "accustomed to the same level of consumption, that they will cherish similar values, and that they will harbor similar aversions and prejudices". : 13 In other words, an atheist is unlikely to encounter a habitué of Sunday mass, as a man who frequents the bar is unlikely to encounter a recovering alcoholic.
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As social psychologist Andrea B. Hollingshead states, "next to race, religion is the most decisive factor in the segregation of males and females into categories that are approved or disapproved with respect to nuptiality". Winch found that people tend to associate with and to marry among persons similar to themselves, but that it is also thought to be desirable and right for one to marry "among one's own" in regard to race, religion, etc..: 13 He also argued that there is a set of variables on which homogamy has been shown to function: race, religion, social class, broad occupational grouping, location of residence, income, age, level of education, intelligence, etc.: 14 With these variables, he argues, the sort of people with whom one shall most likely interact with are chosen, and in turn, they define a "field of eligible spouse-candidates". : 14 These 'spouse-candidates' are not just people within close proximity to us, but rather, people who we pass on a day-to-day basis because of our routine and may have never even noticed. In other words, someone's spouse may end up being the man sitting behind them in church every Sunday, or the woman they are running next to at the gym.
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https://en.wikipedia.org/wiki/Filter_theory_(sociology)
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While mate-selection has been found to be mostly homogamous in regard to social characteristics,: 5 such as religion, the psycho-dynamic of couples has not been. According to Sigmund Freud, there was a tendency for self-loving people to mate with those who were emotionally dependent, and similarly, one may fall in love with a particular person because they represent a perfection which the other has unsuccessfully striven to attain. This is in relation to Winchs' Theory of Complementary Needs, which says people look for qualities in a partner that will complement their own. According to the similarity principle, the more two people perceive themselves to be similar, the more likely their relationship is to grow and succeed.
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https://en.wikipedia.org/wiki/Filter_theory_(sociology)
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In this, the word “perceive” holds a lot of significance because one may perceive that they are more similar to someone than they actually are, and therefore believe they have more in common than they really do. Additionally, an individual may be inclined to overlook differences because importance is held over certain similarities more than others. == References ==
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https://en.wikipedia.org/wiki/Filter_theory_(sociology)
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Bundling, or tarrying, is the traditional practice of wrapping a couple together in a bed sometimes with a board between the two of them, usually as a part of courting behavior. The tradition is thought to have originated either in the Netherlands or in the British Isles and later became common in colonial United States, especially in Pennsylvania Dutch Country. Bundling is associated with the Amish as a form of courtship.
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https://en.wikipedia.org/wiki/Bundling_(tradition)
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It is possible the precedent for bundling came from the biblical story of Ruth and Boaz, in which Ruth, a widow, and Boaz, a wealthy landowner, spend a night together in a grain storage room. Tradition says they did not touch, and the pair later got married.
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https://en.wikipedia.org/wiki/Bundling_(tradition)
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Bundling, or "bed courting" is believed to have originated in the pre-Celtic populations of the British Isles and was introduced to the American colonies by European immigrants (primarily Dutch and Welsh) where it attained unprecedented popularity. Traditionally, the practice of courtship involved two young adults, often betrothed, who spent the night in bed together under the parental roof to ensure compatibility and accountability. A bundling board or bundling sack may make an appearance, as it takes the form of a contraceptive for a bundling couple. A bundling board was a large plank that was placed in between the couple and the bundling sack was a sleeping bag that was sewn up the middle.
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https://en.wikipedia.org/wiki/Bundling_(tradition)
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Periods of popularity for the practice of bundling often align with eras of enhanced social position for women, as this custom afforded a high level of protection against premarital sex.The custom of bundling, which became common in New England in the eighteenth century, was used to certify that an unwed father was held accountable for an illegitimate pregnancy. The courtship practice would ensure that there would be witnesses to certify any intimacy that took place. Within the seventeenth century, courts were more willing to accept a woman's testimony that a specific man had fathered her child.
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https://en.wikipedia.org/wiki/Bundling_(tradition)
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Stricter standards came about in the eighteenth century when the court officials wanted evidence in support of the woman's allegation, which could be difficult to obtain. If a couple had sex in secret and the woman became pregnant, no witness of the relation would have taken place. Marriage by a spousal contract or in a church would often follow bundling.
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https://en.wikipedia.org/wiki/Bundling_(tradition)
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Two forms of bundling in Colonial America are generally discussed: a sleeping arrangement between strangers, or the bed-sharing of lovers under parental supervision. The former definition refers to the practice used to accommodate the heavy traffic of travelers in the underdeveloped colonies, often with no implication of sexual activity. The latter, however, refers to the courtship practice which ensured legal accountability for an unwed father in the case of pre-marital pregnancy. The courtship ritual of bundling was primarily observed in rural communities.
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https://en.wikipedia.org/wiki/Bundling_(tradition)
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The measure of familial and community protection which bundling provided against the scandal of abandonment was not offered in urban settings where populations had a much higher degree of mobility and anonymity.Despite some religious criticism, bundling rose in popularity amongst rural populations throughout the eighteenth century. The prevalence of premarital sex in colonial America is shown by the rate of legitimate births within the first nine months of marriage; the late eighteenth century observed a remarkable increase in pre-marital pregnancies, with 30-40% of infants born within the first nine months of marriage. This is due in part to a sexually permissive subculture cultivated by parents of the less-wealthy classes.
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https://en.wikipedia.org/wiki/Bundling_(tradition)
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A high correlation is observed between the pre-marital pregnancy status of mothers and daughters in the 18th century.In Colonial United States, Jonathan Edwards and other preachers condemned bundling. American Puritanism condemned the practice of bundling as immoral, or un-Christian. The heydey of Bundling in the late 18th century corresponds to a period of low engagement with puritanical ideals, when religious participation for adolescents was not strictly enforced by societal standards.
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https://en.wikipedia.org/wiki/Bundling_(tradition)
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With the Second Great Awakening at the turn of the 19th century, religion became a much larger part of adolescent life and puritanical morals were more heavily enforced by a larger societal group. As social opinion moved away from the practical solution of bundling to the ideological solution of abstinence and moral responsibility, the popularity of bundling waned.It is possible that, as late as the mid-19th century, bundling was still practiced in New York state and perhaps in New England, though its popularity was waning. The court case of Graham v. Smith, 1 Edm.Sel.Cas.
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https://en.wikipedia.org/wiki/Bundling_(tradition)
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267 (N.Y. 1846), for example, initially argued before Judge Edmunds in the Orange Circuit Court of New York, concerned the seduction of a 19-year-old woman; testimony in the case established that bundling was a common practice in certain rural social circles at the time. By the 20th century, bundling seems to have disappeared almost everywhere, except for the more conservative Old Order Amish affiliations, where it was still in use as of 2006, regardless of location. In the modern United States, practices of "dating" and "necking" might be tied to the previous practice of bundling. Public widespread anxiety about the vulnerability of young women led to new writing which was published in newspapers and magazines during the eighteenth century.
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https://en.wikipedia.org/wiki/Bundling_(tradition)
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The Kwanyama are one of the eight Ambo Bantu tribes that live in Southwest Africa. The courtship practice of bundling is popular amongst the Kwanyama. This practice began within the Kwanyama Ambo tribe during the eighteenth century. Bundling for the Kwanyama does not imply sexual intercourse, but rather the word bundling is okunangala, which means "to sleep together."
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https://en.wikipedia.org/wiki/Bundling_(tradition)
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In South Africa, bundling prevented the birth of illegitimate children. Kwanyama engaged couples bundle under supervision, but illegitimate bundling occurs at night during public gatherings—meaning no witness is present.Bundling had been reported across the Germanic tribes, the Celts, the Finns and people of the Baltic states. The German-Swiss custom of Kiltgang demonstrates the practice of boys and girls who were at puberty age spending the night in bed together.
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https://en.wikipedia.org/wiki/Bundling_(tradition)
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This practice began in the nineteenth century in Norway and Sweden. The participants were either entirely or partially clothed, and sexual intercourse would not occur. The youth were enabled to choose a mate without the interference of their parents.In the seventeenth century, Jewish society encouraged affection before marriage similar to the practice of allowing engaged couples to spend time in bed together before their wedding.
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https://en.wikipedia.org/wiki/Bundling_(tradition)
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This suggests similarities to bundling practices in early modern France and North America. Bundling within Jewish courtship practices involved some sexual contact short of intercourse. Seventeenth century moralist Isaiah Horowitz denounced this practice, as he was concerned with the sexual transgressions that may occur from romantic affection before the wedding. In the eighteenth century, another moralist Ezekiel Landau reported a case where "Jewish bundling" led to intercourse.
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https://en.wikipedia.org/wiki/Bundling_(tradition)
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The writer Washington Irving, in book 3, chapter 7 of A History of New York (1809) as well as other of his works, refers to bundling as a Yankee practice.This amazing increase may, indeed, be partly ascribed to a singular custom prevalent among them, commonly known by the name of bundling—a superstitious rite observed by the young people of both sexes, with which they usually terminated their festivities, and which was kept up with religious strictness by the more bigoted part of the community.Historian Edward Shorter wrote in his novel, The Making of the Modern Family, that the widespread increase of illegitimate births through courtship practices comprised a "sexual revolution" that was issued by the rise of industrial capitalism within the eighteenth century.Jakob Huizinga, a Mennonite revered who remained on the island of Texel (northwestern part of The Netherlands) from 1844 to 1881 wrote about unlawful premarital sexuality in his diary. Huizinga referred to the "Texel custom" or "night courting" practice that consisted of potential suitors entering an unmarried woman's bedroom at night. Night courting, bundling, or festerln was organized in areas bordering the North Sea as well as the Alps and Baltic region.
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https://en.wikipedia.org/wiki/Bundling_(tradition)
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Gabriel Edward Martin, Heath Ledger's character in the 2000 film The Patriot, is bundled when he spends an overnight visit at the home of Anne Patricia Howard (Lisa Brenner), the girl that he is courting. Anna Gunn's character in the HBO series Deadwood mentions removing a bundling board from their bed in Season 2, Episode 2. In the TV series Salem during Season 1, Episode 7, "Our Own Private America", adolescent teens are seen bundling. In the TV series A Discovery of Witches during Season 1, episode 5, Matthew de Clairmont and Diana Bishop discuss the "bundling" custom.
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https://en.wikipedia.org/wiki/Bundling_(tradition)
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Positive psychology is a branch of psychology that studies the conditions that contribute to the optimal functioning of people, groups, and institutions. It studies "positive subjective experience, positive individual traits, and positive institutions... it aims to improve quality of life." It is a field of study that has grown as individuals and researchers look for common ground on better well-being.Positive psychology began as a new domain of psychology in 1998 when Martin Seligman chose it as the theme for his term as president of the American Psychological Association. It is a reaction against past practices, which tended to focus on mental illness and emphasized maladaptive behavior and negative thinking.
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https://en.wikipedia.org/wiki/Positive_psychology
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It builds on the humanistic movement by Abraham Maslow, Rollo May, and Carl Rogers, which encourages an emphasis on happiness, well-being, and positivity.Positive psychology largely relies on concepts from the Western philosophical tradition, such as the Aristotelian concept of eudaimonia, which is typically rendered in English with the terms "flourishing", "the good life" or even "happiness". Positive psychologists study empirically the conditions and processes that contribute to flourishing, subjective well-being and happiness, often using these terms interchangeably. Positive psychologists suggested a number of factors may contribute to happiness and subjective well-being, for example: social ties with a spouse, family, friends, colleagues, and wider networks; membership in clubs or social organizations; physical exercise; and the practice of meditation.
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https://en.wikipedia.org/wiki/Positive_psychology
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Spirituality can also lead to increased individual happiness and well-being. Spiritual practice and religious commitment is a possible source for increased well-being studied within positive psychology. Happiness may rise with increasing income, though it may plateau or even fall when no further gains are made or after a certain cut-off amount.
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https://en.wikipedia.org/wiki/Positive_psychology
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Seligman and Mihaly Csikszentmihalyi define positive psychology as "the scientific study of positive human functioning and flourishing on multiple levels that include the biological, personal, relational, institutional, cultural, and global dimensions of life."
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https://en.wikipedia.org/wiki/Positive_psychology
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Positive psychology concerns eudaimonia, which is considered an essential element for the pursuit of happiness and a good life. It emphasizes cherishing that which holds the greatest value in life and other such factors that contribute the most to having a good life. A ‘good life’ is defined by psychologists and philosophers as consisting of authentic expression of self, a sense of well-being, and active engagement in life.Seligman has proposed that the path to a person’s well-being is for them to nurture their character strengths.Positive psychology aims to complement and extend traditional problem-focused psychology.
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https://en.wikipedia.org/wiki/Positive_psychology
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It is concerned with positive states (e.g. happiness), positive traits (e.g. talents, interests, strengths of character), positive relationships and positive institutions and how these can apply to physical health.A basic premise of positive psychology is that human actions arise from our beliefs about the future; however, these beliefs are informed by our past experiences. Seligman identified other possible goals of positive psychology: families and schools that allow children to grow, workplaces that aim for satisfaction and high productivity, and teaching others about positive psychology. Daniel Gilbert has also written extensively on the effects of time perception and happiness.Those who practice positive psychology attempt psychological interventions that foster positive attitudes toward one's subjective experiences, individual traits, and life events. The goal is to minimize pathological thoughts that may arise in a hopeless mindset and to develop a sense of optimism toward life. Positive psychologists seek to encourage acceptance of one's past, excitement and optimism about one's future experiences, and a sense of contentment and well-being in the present.
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https://en.wikipedia.org/wiki/Positive_psychology
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Happiness can be defined in two general ways, one being an enjoyable state of mind and the other being the living out of an enjoyable life.
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https://en.wikipedia.org/wiki/Positive_psychology
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That which is ultimately good for an individual both physically and mentally.
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https://en.wikipedia.org/wiki/Positive_psychology
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Encompasses more than just physical and mental well-being; it can also include socioeconomic factors. This term can be perceived differently in different cultures and regions around the world. In the simplest of terms, this is how well you are living and functioning in life.
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https://en.wikipedia.org/wiki/Positive_psychology
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According to Seligman and Peterson, positive psychology addresses three issues: positive emotions, positive individual traits, and positive institutions. Positive emotions concern being content with one's past, being happy in the present, and having hope for the future. Positive individual traits are one's strengths and virtues. Positive institutions are strengths to better a community of people.According to Peterson, positive psychologists are concerned with four topics: positive experiences, enduring psychological traits, positive relationships, and positive institutions. He also states that topics of interest to researchers in the field are states of pleasure or flow, values, strengths, virtues, talents, as well as the ways that these can be promoted by social systems and institutions.
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https://en.wikipedia.org/wiki/Positive_psychology
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While the formal discipline of positive psychology has only existed since 2000, the concepts that form the basis of it have been the subject of empirical study since at least the 1980s, and present in religious and philosophical discourse for thousands of years. The field has been influenced by humanistic as well as psychodynamic approaches to treatment. Predating the use of the term "positive psychology", researchers within the field of psychology had been focusing on topics that would now be included under this new denomination.The term "positive psychology" dates at least to 1954, when Abraham Maslow's first edition of Motivation and Personality was published with a final chapter titled "Toward a Positive Psychology."
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https://en.wikipedia.org/wiki/Positive_psychology
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In the second edition published in 1970, he removed that chapter, saying in the preface that "a positive psychology is at least available today though not very widely." There have been indications that psychologists since the 1950s have increasingly focused on promoting mental health rather than merely treating mental illness. From the beginning of psychology, the field addressed the human experience using the "Disease model," studying and identifying the dysfunction of an individual. In the opening sentence of his book Authentic Happiness, Seligman claimed: "for the last half century psychology has been consumed with a single topic only - mental illness," expanding on Maslow's comments. He urged psychologists to continue the earlier missions of psychology of nurturing talent and improving normal life.
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https://en.wikipedia.org/wiki/Positive_psychology
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The first positive psychology summit took place in 1999. The First International Conference on Positive Psychology took place in 2002. In 2006, a course on positive psychology at Harvard University was one of the most popular courses on offer. In June 2009, the First World Congress on Positive Psychology took place at the University of Pennsylvania.The field of positive psychology today is most advanced in the United States and Western Europe.
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https://en.wikipedia.org/wiki/Positive_psychology
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