I. This summative assignment has two assessment tasks. You must complete both task 1 and task 2. Each task is worth 50 marks.

II. For task 1, download and extract BFE_Takeaway.zip. You must use dataXY.dta where XY refers to the last two digits of your anonymous exam code. For example, if anonymous code is Z0912345, you must use data45.dta. Each data file is in Stata format, and has been simulated using BFE_Sect2.dta (i.e. the data file that you analysed in your computer practical) as a basis. All variable names and definitions are identical to the source data.

III. In task 2, Barberis, Mukherjee and Wang [2016] refers to the following article: Barberis N, Mukherjee A and Wang B. 2016. Prospect Theory and Stock Returns: An Empirical Test. Review of Financial Studies 29: 3068-3107. [Link]

IV. Your assignment must include a code appendix that reports all computer codes that have been used to generate your output for task 1. The code appendix DOES NOT count towards your overall word limit. Failure to include the code appendix may result in a loss of marks awarded to task 1.

Assessment Tasks

Task 1: There are well-known models in finance which assume that the decision maker is an expected utility maximiser with a CARA utility function. Propose structural econometric models which can be used to test this assumption, and use your allocated data file to estimate at least two of the proposed models. Report the estimation results in a format that is suitable for academic journals, and discuss your findings.

Task 2: Critically evaluate the construction and use of variable TK in Barberis, Mukherjee and Wang [2016]. You must cite appropriate studies to support your discussion.

Overall word limit, 2500 words maximum.

The word count should:
• Include all the text, including title, preface, introduction, in-text citations, quotations, footnotes and any other item not specifically excluded below.
• Exclude diagrams, tables (including tables/lists of contents and figures), equations, executive summary/abstract, acknowledgements, declaration, bibliography/list of references and appendices. However, it is not appropriate to use diagrams or tables merely as a way of circumventing the word limit. If a student uses a table or figure as a means of presenting his/her own words, then this is included in the word count.

Examiners will stop reading once the word limit has been reached, and work beyond this point will not be assessed. Checks of word counts will be carried out on submitted work, including any assignments or dissertations/business projects that appear to be clearly over- length. Checks may take place manually and/or with the aid of the word count provided via an electronic submission. Where a student has intentionally misrepresented their word count, the School may treat this as an offence under Section IV of the General Regulations of the University. Extreme cases may be viewed as dishonest practice under Section IV, 5
(a) (x) of the General Regulations.

Very occasionally it may be appropriate to present, in an appendix, material which does not properly belong in the main body of the assessment but which some students wish to provide for the sake of completeness. Any appendices will not have a role in the assessment
– examiners are under no obligation to read appendices and they do not form part of the word count. Material that students wish to be assessed should always be included in the main body of the text.

Performance in the summative assessment for this module is judged against the following criteria:
• Relevance to question
• Organisation, structure and presentation
• Depth of understanding
• Analysis and discussion
• Use of sources and referencing

• Overall conclusions

Students are strongly advised to use Arial font size 11 for their assignments. A template assignment is provided for students and it is recommended for students to use this.

You must submit an electronic copy of your assignment on DUO which will be put through the plagiarism detection service.

The electronic version of the assignment which you submit on-line should INCLUDE all appendices and any extracts from the companies’ financial statements.

Sample Solution

Sample solution

Dante Alighieri played a critical role in the literature world through his poem Divine Comedy that was written in the 14th century. The poem contains Inferno, Purgatorio, and Paradiso. The Inferno is a description of the nine circles of torment that are found on the earth. It depicts the realms of the people that have gone against the spiritual values and who, instead, have chosen bestial appetite, violence, or fraud and malice. The nine circles of hell are limbo, lust, gluttony, greed and wrath. Others are heresy, violence, fraud, and treachery. The purpose of this paper is to examine the Dante’s Inferno in the perspective of its portrayal of God’s image and the justification of hell. 

In this epic poem, God is portrayed as a super being guilty of multiple weaknesses including being egotistic, unjust, and hypocritical. Dante, in this poem, depicts God as being more human than divine by challenging God’s omnipotence. Additionally, the manner in which Dante describes Hell is in full contradiction to the morals of God as written in the Bible. When god arranges Hell to flatter Himself, He commits egotism, a sin that is common among human beings (Cheney, 2016). The weakness is depicted in Limbo and on the Gate of Hell where, for instance, God sends those who do not worship Him to Hell. This implies that failure to worship Him is a sin.

God is also depicted as lacking justice in His actions thus removing the godly image. The injustice is portrayed by the manner in which the sodomites and opportunists are treated. The opportunists are subjected to banner chasing in their lives after death followed by being stung by insects and maggots. They are known to having done neither good nor bad during their lifetimes and, therefore, justice could have demanded that they be granted a neutral punishment having lived a neutral life. The sodomites are also punished unfairly by God when Brunetto Lattini is condemned to hell despite being a good leader (Babor, T. F., McGovern, T., & Robaina, K. (2017). While he commited sodomy, God chooses to ignore all the other good deeds that Brunetto did.

Finally, God is also portrayed as being hypocritical in His actions, a sin that further diminishes His godliness and makes Him more human. A case in point is when God condemns the sin of egotism and goes ahead to commit it repeatedly. Proverbs 29:23 states that “arrogance will bring your downfall, but if you are humble, you will be respected.” When Slattery condemns Dante’s human state as being weak, doubtful, and limited, he is proving God’s hypocrisy because He is also human (Verdicchio, 2015). The actions of God in Hell as portrayed by Dante are inconsistent with the Biblical literature. Both Dante and God are prone to making mistakes, something common among human beings thus making God more human.

To wrap it up, Dante portrays God is more human since He commits the same sins that humans commit: egotism, hypocrisy, and injustice. Hell is justified as being a destination for victims of the mistakes committed by God. The Hell is presented as being a totally different place as compared to what is written about it in the Bible. As a result, reading through the text gives an image of God who is prone to the very mistakes common to humans thus ripping Him off His lofty status of divine and, instead, making Him a mere human. Whether or not Dante did it intentionally is subject to debate but one thing is clear in the poem: the misconstrued notion of God is revealed to future generations.



Babor, T. F., McGovern, T., & Robaina, K. (2017). Dante’s inferno: Seven deadly sins in scientific publishing and how to avoid them. Addiction Science: A Guide for the Perplexed, 267.

Cheney, L. D. G. (2016). Illustrations for Dante’s Inferno: A Comparative Study of Sandro Botticelli, Giovanni Stradano, and Federico Zuccaro. Cultural and Religious Studies4(8), 487.

Verdicchio, M. (2015). Irony and Desire in Dante’s” Inferno” 27. Italica, 285-297.