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Recent research has shown that children often learn what to believe by attending to the claims of other people. Similarly, they often learn how to act by attending to the actions of other people. Moreover, in each of these two domains, children are selective in their learning – they prefer to endorse and to emulate individuals who, as representatives of the surrounding culture, can serve as good models. I argue that this type of selective social learning also plays a major role in children’s emotional development. Although young children may encounter some situations that have a universal biological significance – for example a steep cliff or a sudden loud noise – the emotional implications of many encounters, especially with artefacts, people and foods, are likely to vary from one culture to another. Children can learn to perceive these encounters through the distinctive emotional lens of their own culture if they attend to and adopt the expressive appraisals of individuals who are representative of their culture. Such appraisals may be conveyed non-verbally, as in the classic social-referencing paradigm, but they can also be conveyed verbally.
An increase in “unusual” news with negative sentiment predicts an increase in stock market volatility. Unusual positive news forecasts lower volatility. Our analysis is based on over 360,000 articles on 50 large financial companies, published during the period of 1996–2014. Unusualness interacted with sentiment forecasts company-specific and aggregate volatility several months ahead. Furthermore, unusual news is reflected more slowly in aggregate volatility than company-specific volatility. News measures from articles explicitly about the “market,” which are more easily accessible to investors, do not forecast volatility. The observed responses of volatility to news may be explained by attention constraints on investors.
After the Civil War, northern Methodists undertook a successful mission to recruit a biracial membership in the South. Their Freedmen's Aid Society played a key role in outreach to African Americans, but when the denomination decided to use Society funds in aid of schools for Southern whites, a national controversy erupted over the refusal of Chattanooga University to admit African Americans. Caught between a principled commitment to racial brotherhood and the pressures of expediency to accommodate a growing white supremacist commitment to segregation, Methodists engaged in an agonized and heated debate over whether schools intended for whites should be allowed to exclude blacks. Divisions within the leadership of the Methodist Episcopal Church caught the attention of the national press and revealed the limits of even the most well-intentioned efforts to advance racial equality in the years after Reconstruction.