Reward theory of attraction essay

The risk-return tradeoff also exists at the portfolio level. For example, a portfolio composed of all equities presents both higher risk and the potential for higher returns. Within an all-equity portfolio, risk and reward can be increased by concentrations in specific sectors or single positions that represent a large percentage of holdings. Conversely, a portfolio holding short-term Treasury’s presents low risk levels combined with limited returns. For investors, assessing the cumulative risk-return tradeoff of all positions can provide insight on whether a portfolio has assumed enough risk to achieve long-term return objectives or that risk levels are too high with the existing mix of holdings.

The expectancy theory of motivation has prevailed as an acceptably rational explanation for an individual decision-making model. It's without question that the theory which is a predictive value may enable managers to increase the likelihood of an individual acting out the desired behavior. However, the implementation of the theory in an organizational context isn't an easy task! Many sub-cognitive processes are involved in the overall decision that finding the balance between the individual's "reward" and the cost to be borne by the organization becomes a tedious task. In addition, each trial changes the equation, in the sense that the individual will use that new experience to alter his or her perception of the future probability of attaining the desired outcome.

This is a powerful movement, and the contributors include some of the most important people in psychology today:  Julian Rotter, Walter Mischel, Michael Mahoney, and David Meichenbaum spring to my mind.  Also involved are such theorists of therapy as Aaron Beck (cognitive therapy) and Albert Ellis (rational emotive therapy).  The followers of George Kelly also find themselves in this camp.  And the many people working on personality trait research -- such as Buss and Plomin (temperament theory) and McCrae and Costa (five factor theory) -- are essentially “cognitive behaviorists” like Bandura.

Another major criticism of the drive reduction theory of learning is that it does not explain why people engage in behaviors that do not reduce drives. For example, people often eat when they’re not hungry or drink when they’re not thirsty. In some cases, people actually participate in activities that increase tension such as sky-diving or bungee jumping. Why would people seek out activities that do nothing to fulfill biological needs and that actually place them in considerable danger? Drive-reduction theory cannot account for such behaviors.

Reward theory of attraction essay

reward theory of attraction essay

Another major criticism of the drive reduction theory of learning is that it does not explain why people engage in behaviors that do not reduce drives. For example, people often eat when they’re not hungry or drink when they’re not thirsty. In some cases, people actually participate in activities that increase tension such as sky-diving or bungee jumping. Why would people seek out activities that do nothing to fulfill biological needs and that actually place them in considerable danger? Drive-reduction theory cannot account for such behaviors.

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