The phenomenal character of perceptual experience involves the representation of colour, shape and motion. Does it also involve the representation of high-level categories? Is the recognition of a tomato as a tomato contained within perceptual phenomenality? Proponents of a conservative view of the reach of phenomenal content say ’No’, whereas those who take a liberal view of perceptual phenomenality say ’Yes’. I clarify the debate between conservatives and liberals, and argue in favour of the liberal view that high-level content can (...) directly inform the phenomenal character of perception. (shrink)

The phenomenology of agency has, until recently, been rather neglected, overlooked by both philosophers of action and philosophers of consciousness alike. Thankfully, all that has changed, and of late there has been an explosion of interest in what it is like to be an agent. 1 This burgeoning field crosses the traditional boundaries between disciplines: philosophers of psychopathology are speculating about the role that unusual experiences of agency might play in accounting for disorders of thought and action; cognitive scientists are (...) developing models of how the phenomenology of agency is generated; and philosophers of mind are drawing connections between the phenomenology of agency and the nature of introspection, phenomenal character, and agency itself. My aim in this paper is not to provide an exhaustive survey of this recent literature, but to provide a.. (shrink)

Actions performed in a state of automatism are not subject to moral evaluation, while automatic actions often are. Is the asymmetry between automatistic and automatic agency justified? In order to answer this question we need a model or moral accountability that does justice to our intuitions about a range of modes of agency, both pathological and non-pathological. Our aim in this paper is to lay the foundations for such an account.

According to conventional wisdom, the split-brain syndrome puts paid to the thesis that consciousness is necessarily unified. The aim of this paper is to challenge that view. I argue both that disunity models of the split-brain are highly problematic, and that there is much to recommend a model of the split-brain—the switch model—according to which split-brain patients retain a fully unified consciousness at all times. Although the task of examining the unity of consciousness through the lens of the split-brain syndrome (...) is not a new one—such projects date back to Nagel’s seminal paper on the topic—the time is ripe for a re-evaluation of the issues. (shrink)

Explanation does not exist in a metaphysical vacuum. Conceptions of the structure of a phenomenon play an important role in guiding attempts to explain it, and erroneous conceptions of a phenomenon may direct investigation in misleading directions. I believe that there is a case to be made for thinking that much work on the neural underpinnings of consciousness—what is often called the neural correlates of consciousness—is driven by an erroneous conception of the structure of consciousness. The aim of this paper (...) is lay bare some connections between the explanation of consciousness and the structure of consciousness, and to argue for a conception of the structure of consciousness that is more adequate than that which currently drives much research into the neural correlates of consciousness. (shrink)

Although delusions are typically regarded as beliefs of a certain kind, there have been worries about the doxastic conception of delusions since at least Bleuler’s time. ‘Anti-doxasticists,’ as we might call them, do not merely worry about the claim that delusions are beliefs, they reject it. Reimer’s paper weighs into the debate between ‘doxasticists’ and ‘anti-doxasticists’ by suggesting that one of the main arguments given against the doxastic conception of delusions—what we might call the functional role objection—is based on a (...) fallacy. She also draws attention to certain parallels between delusions and what she calls “nihilistic philosophical doctrines,” such as the skeptical position that we have no .. (shrink)

Can a person be harmed or wronged by being brought into existence? Can a person be benefited by being brought into existence? Following David Heyd, I refer to these questions as “genethical questions”. This chapter examines three broad approaches to genethics: the no-faults model, the dual-benchmark model, and the parity model. The no-faults model holds that coming into existence is not properly subject to moral evaluation, at least so far as the interests of the person that is to be brought (...) into existence are concerned. The dual benchmark model allows that coming into existence can be subject to moral evaluation, but holds that our judgments about the kinds of lives worth starting ought not be aligned with our judgments about the kinds of lives worth sustaining. I argue against both the no-faults and dual benchmark models. In their place, I argue for a parity approach to genethics, according to which our judgments about the conditions under which life is worth creating ought to be constrained by our judgments about the conditions under which life is worth continuing. (shrink)

Consciousness in experimental subjects is typically inferred from reports and other forms of voluntary behaviour. A wealth of everyday experience confirms that healthy subjects do not ordinarily behave in these ways unless they are conscious. Investigation of consciousness in vegetative state patients has been based on the search for neural evidence that such broad functional capacities are preserved in some vegetative state patients. We call this the standard approach. To date, the results of the standard approach have suggested that some (...) vegetative state patients might indeed be conscious, although they fall short of being demonstrative. The fact that some vegetative state patients show evidence of consciousness according to the standard approach is remarkable, for the standard approach to consciousness is rather conservative, and leaves open the pressing question of how to ascertain whether patients who fail such tests are conscious or not. We argue for a cluster-based ‘natural kind’ methodology that is adequate to that task, both as a replacement for the approach that currently informs research into the presence or absence of consciousness in vegetative state patients and as a methodology for the science of consciousness more generally. 1. Introduction2. The Vegetative State3. The Standard Approach4. The Natural Kind Methodology5. Is Consciousness a Special Case? 5.1 Is consciousness a natural kind?5.2 A special obstacle?6. Conclusion. (shrink)

Most animals have mental states of one sort or another, but few species share our capacity for self-awareness. We are aware of our own mental states via introspection, and we are aware of the mental states of our fellow human beings on the basis of what they do and say. This chapter is not concerned with these traditional forms of mind-reading—forms whose origins predate the beginnings of recorded history—but with the prospects of a rather different and significantly more recent form (...) of ‘mind-reading’: the capacity to reliably ascribe mental states to a creature on the basis of information derived from information about their brain states. (shrink)

This paper develops a novel problem for representationalism (also known as "intentionalism"), a popular contemporary account of perception. We argue that representationalism is incompatible with supervaluationism, the leading contemporary account of vagueness. The problem generalizes to naive realism and related views, which are also incompatible with supervaluationism.

Although the study of epileptic absence seizures has the potential to contribute a great deal to the scientific understanding of consciousness, this potential has yet to be fully exploited. There have been a number of insightful discussions of consciousness in the context of epileptic seizures, but the basic conceptual issues are still poorly understood and many empirical questions remain unexplored. In this paper I review a number of questions that are of interest to consciousness scientists and identify ways in which (...) the study of absence seizures might bear on their investigation. (shrink)

A review of Cognitive Phenomenology by Tim Bayne and Michelle Montague, with some thoughts on the epistemology of the cognitive phenomenology debate.

Tim Bayne and Susanna Siegel have recently offered interesting arguments in favor of the view that we can experience high-level properties like being a pine tree or being a stethoscope (Bayne 2009, Siegel 2006, 2011). We argue first that Bayne’s simpler argument fails. However, our main aim in this paper is to show that Siegel’s more sophisticated argument for her version of the high-level view can also be resisted if one adopts a view that distinguishes between perceptual (...) experiences and seemings. (shrink)

According to perceptualism, fluent comprehension of speech is a perceptual achievement, in as much as it is akin to such high-level perceptual states as the perception of objects as cups or trees, or of people as happy or sad. According to liberalism, grasp of meaning is partially constitutive of the phenomenology of fluent comprehension. I here defend an influential line of argument for liberal perceptualism, resting on phenomenal contrasts in our comprehension of speech, due to Susanna Siegel and Tim (...) class='Hi'>Bayne, against objections from Casey O'Callaghan and Indrek Reiland. I concentrate on the contrast between the putative immediacy of meaning-assignment in fluent comprehension, as compared with other, less ordinary, perhaps translation-based ways of getting at the meaning of speech. I argue this putative immediacy is difficult to capture on a non-perceptual view (whether liberal or non-liberal), and that the immediacy in question has much in common with that which applies in other, less controversial cases of high-level perception. (shrink)

Do we perceptually experience meanings? For example, when we hear an utterance of a sentence like ‘Bertrand is British’ do we hear its meaning in the sense of being auditorily aware of it? Several philosophers like Tim Bayne and Susanna Siegel have suggested that we do (Bayne 2009: 390, Siegel 2006: 490-491, 2011: 99-100). They argue roughly as follows: 1) experiencing speech/writing in a language you are incompetent in is phenomenally different from experiencing speech/writing you are competent in; (...) 2) this contrast is best explained by the fact that we experience meanings in the latter case, but not the former. In contrast, in an important recent discussion Casey O’Callaghan has argued that we do not (O’Callaghan 2011). He responds to the above contrast argument by claiming that this phenomenal contrast is instead best explained by the fact that we hear language-specific phonological properties in the latter case, but not in the former. In this paper I argue that O’Callaghan’s response to the popular contrast argument is too limited in scope, provide a more general response, and present a new case against experiencing meanings. (shrink)

This chapter introduces the rationalist model of delusions. It begins by presenting John Campbell’s seminal proposal that delusions are caused top-down by pathological Wittgensteinian framework or hinge beliefs. After presenting Campbell’s rationalist account of delusions, the chapter raises and examines prominent objections by Tim Bayne & Elisabeth Pacherie as well as by Tim Thornton. The former make an important distinction between the aetiological top-down cognitive part and the epistemological rationalist framework part of Campbell’s account. The thesis that delusions are (...) caused top-down by pathological beliefs is not equivalent to the thesis that delusions are Wittgensteinian framework certainties. This chapter endorses this distinction. While the arguments against the top-down aspect are found to be more convincing – which motivates popular two-factor theories – the rationalist framework model of delusions is defended as an epistemologically promising account of delusion. Finally, this chapter examines a range of developments that have been made taking Campbell’s rationalism as a starting point. Most prominently the section examines Eilan’s early development of rationalism and Rhodes and Gipps’ proposal that delusions are not framework propositions but a product of their absence. (shrink)

Various strands of religious thought distinguish veneration from worship. According to these traditions, believers ought to worship God alone. To worship anything else, they say, is idolatry. And yet many of these same believers also claim to venerate—but not worship—saints, angels, images, relics, tombs, and even each other. But what's the difference? Tim Bayne and Yujin Nagasawa (2006: 302) are correct that “it seems to be extremely difficult to distinguish veneration from worship.” Many have argued throughout history that veneration (...) collapses into worship and that those who venerate saints or icons are guilty of idolatry. In this essay, we distinguish worship from veneration in two stages. First, we give a formal account of their difference. Drawing from St. John of Damascus (c. 675-749 AD), we argue that worship is a determinate of the determinable veneration. Second, we give more substantive accounts of both that explain their differences and similarities. Drawing again from St John, we argue that acts of veneration and worship signify subordination. Their difference, however, lies in the fact that worship alone requires absolute subordination. (shrink)

This chapter critically assesses recent arguments that acquiring the ability to categorize an object as belonging to a certain high-level kind can cause the relevant kind property to be represented in visual phenomenal content. The first two arguments, developed respectively by Susanna Siegel (2010) and Tim Bayne (2009), employ an essentially phenomenological methodology. The third argument, developed by William Fish (2013), by contrast, is supported by an array of psychophysical and neuroscientific findings. I argue that while none of these (...) arguments ultimately proves successful, there is a substantial body of empirical evidence that information originating outside the visual system can nonetheless modulate the way an object’s low-level attributes visually appear. Visual phenomenal content, I show, is not only significantly influenced by crossmodal interactions between vision and other exteroceptive senses such as touch and audition, but also by interactions between vision and non-perceptual systems involved in motor planning and construction of the proprioceptive body-image. (shrink)

In response to the claim that our sense of will is illusory, some philosophers have called for a better understanding of the phenomenology of agency. Although I am broadly sympathetic with the tenor of this response, I question whether the positive-theoretic blueprint it promotes truly heralds a tenable undertaking. Marshaling a Schopenhauerian insight, I examine the possibility that agency might not be amenable to phenomenological description. Framing this thesis in terms of Charles S. Peirce’s semiotic framework, I suggest a way (...) to integrate the idea of streaming experiences with that of bodily strivings, which, owing to their primitive structure, can never be represented. (shrink)

Craig Callender [2022] provides a novel challenge to the non-arbitrariness principle. His challenge plays an important role in his argument for the rational permissibility of a non-exponential temporal discounting rate. But the challenge is also of wider interest: it raises significant questions about whether we ought to accept the non-arbitrariness principle as a constraint on rational preferences. In this paper, I present two reasons to resist Callender’s challenge. First, I present a reason to reject his claim that the non-arbitrariness principle (...) only targets pure time preferences. Second, I criticize the inference Callender draws from a modest claim to a much stronger claim. The modest claim is that it can be hard to reveal the contents of an agent’s preferences. The stronger claim is that this provides us with a reason to reject a certain kind of normative constraint on rational preferences. I argue that the modest claim doesn’t motivate the stronger claim. The upshot of my two arguments is good news for those sympathetic to the non-arbitrariness principle: Callender’s challenge can be overcome, at least as it currently stands. (shrink)

Donald Trump and Boris Johnson are notoriously uninterested in truthtelling. They also often appear uninterested even in constructing plausible falsehoods. What stands out above all is the brazenness and frequency with which they repeat known falsehoods. In spite of this, they are not always greeted with incredulity. Indeed, Republicans continue to express trust in Donald Trump in remarkable numbers. The only way to properly make sense of what Trump and Johnson are doing, we argue, is to give a greater role (...) to audience relativity - and in some cases, audience participation - in notions like bullshitting and bald-faced lying. In this paper, we develop a new understanding of bullshitting, one that includes bald-faced lying, and recognizes that different communicative acts may be directed at different audiences with a single utterance. In addition, we argue for recognition of the category of bald-faced bullshitting, a particular speciality of both Trump and Johnson, and one especially useful to authoritarian leaders. (shrink)

We argue that S is in a position to know that p iff S can know that p. Thus, what makes position-to-know-ascriptions true is just a special case of what makes ability-ascriptions true: compossibility. The novelty of our compossibility theory of epistemic modality lies in its subsuming epistemic modality under agentive modality, the modality characterizing what agents can do.

This paper presents a new model for pricing OTC derivatives subject to collateralization. It allows for collateral posting adhering to bankruptcy laws. As such, the model can back out the market price of a collateralized contract. This framework is very useful for valuing outstanding derivatives. Using a unique dataset, we find empirical evidence that credit risk alone is not overly important in determining credit-related spreads. Only accounting for both collateral arrangement and credit risk can sufficiently explain unsecured credit costs. This (...) finding suggests that failure to properly account for collateralization may result in significant mispricing of derivatives. We also empirically gauge the impact of collateral agreements on risk measurements. Our findings indicate that there are important interactions between market and credit risk. (shrink)

I defend the intention-dependence of artifacts, which says that something is an artifact of kind K only if it is the successful product of an intention to make an artifact of kind K. I consider objections from two directions. First, that artifacts are often mind- and intention-dependent, but that this isn’t necessary, as shown by swamp cases. I offer various error theories for why someone would have artifact intuitions in such cases. Second, that while artifacts are necessarily mind-dependent, they aren’t (...) necessarily intention-dependent. I consider and reject three kinds of cases which purport to show this: accidental creation, automated production, and mass production. I argue that intentions are present in all of these cases, but not where we would normally expect. (shrink)

This paper studies the relationship between labelled and nested calculi for propositional intuitionistic logic, first-order intuitionistic logic with non-constant domains and first-order intuitionistic logic with constant domains. It is shown that Fitting’s nested calculi naturally arise from their corresponding labelled calculi—for each of the aforementioned logics—via the elimination of structural rules in labelled derivations. The translational correspondence between the two types of systems is leveraged to show that the nested calculi inherit proof-theoretic properties from their associated labelled calculi, such as (...) completeness, invertibility of rules and cut admissibility. Since labelled calculi are easily obtained via a logic’s semantics, the method presented in this paper can be seen as one whereby refined versions of labelled calculi (containing nested calculi as fragments) with favourable properties are derived directly from a logic’s semantics. (shrink)

When are you in a position to rely on p in practical reasoning? Existing accounts say that you must know that p, or be in a position to know that p, or be justified in believing that p, or be in a position to justifiably believe it, and so on. This paper argues that all of these proposals face important problems, which I call the Problems of Negative Bootstrapping and of Level Confusions. I offer a diagnosis of these problems, and (...) I argue that an adequate epistemic norm must be transparent in the following sense: According to the correct epistemic norm, a consideration counts in favor of (or against) relying on p in practical reasoning iff, and to the extent that, this consideration also counts in favor of (or against) p being true. I introduce a candidate epistemic norm that satisfies this condition. According to this norm, one should rely on p in practical reasoning only if it must be that p. If we adopt a non-factualist account of “must”, this amounts to a novel and attractive proposal, a proposal that satisfies the transparency condition. (shrink)

By definition, pain is a sensory and emotional experience that is felt in a particular part of the body. The precise relationship between somatic events at the site where pain is experienced, and central processing giving rise to the mental experience of pain remains the subject of debate, but there is little disagreement in scholarly circles that both aspects of pain are critical to its experience. Recent experimental work, however, suggests a public view that is at odds with this conceptualisation. (...) By demonstrating that the public does not necessarily endorse central tenets of the “mental” view of pain (subjectivity, privacy, and incorrigibility), experimental philosophers have argued that the public holds a more “body-centric” view than most clinicians and scholars. Such a discrepancy would have important implications for how the public interacts with pain science and clinical care. In response, we tested the hypothesis that the public is capable of a more “mind-centric” view of pain. Using a series of vignettes, we demonstrate that in situations which highlight mental aspects of pain the public can, and does, recognize pain as a mental phenomenon. We also demonstrate that the public view is subject to context effects, by showing that the public’s view is modified when situations emphasizing mental and somatic aspects of pain are presented together. (shrink)

Are animals moral agents? In this article, a theologian and an anthropologist unite to bring the resources of each field to bear on this question. Alas, not all interdisciplinary conversations end harmoniously, and after much discussion the two authors find themselves in substantial disagreement over the answer. The article is therefore presented in two halves, one for each side of the argument. As well as presenting two different positions, our hope is that this article clarifies the different understandings of morality (...) in our respective fields and will help to offset confusion in interdisciplinary dialogue. In what follows, we each present our case. In the first section, Adam Willows argues that moral activity necessarily involves the use of reason, symbolic thought, and language and is on that basis an exclusively human affair. In the second, Marcus Baynes-Rock discusses his experience of relationality with other creatures; a relationality which, he argues, creates a shared understanding of obligations which are characteristically moral. (shrink)

Tim Button explores the relationship between words and world; between semantics and scepticism. -/- A certain kind of philosopher – the external realist – worries that appearances might be radically deceptive. For example, she allows that we might all be brains in vats, stimulated by an infernal machine. But anyone who entertains the possibility of radical deception must also entertain a further worry: that all of our thoughts are totally contentless. That worry is just incoherent. -/- We cannot, then, be (...) external realists, who worry about the possibility of radical deception. Equally, however, we cannot be internal realists, who reject all possibility of deception. We must position ourselves somewhere between internal realism and external realism, but we cannot hope to say exactly where. We must be realists, for what that is worth, and realists within limits. -/- In establishing these claims, The Limits of Realism critically explores and develops several themes from Hilary Putnam’s work: the model-theoretic arguments; the connection between truth and justification; the brain-in-vat argument; semantic externalism; and conceptual relativity. The book establishes the continued significance of these topics for all philosophers interested in mind, logic, language, or the possibility of metaphysics. (shrink)

Suppose we can save either a larger group of persons or a distinct, smaller group from some harm. Many people think that, all else equal, we ought to save the greater number. This article defends this view (with qualifications). But unlike earlier theories, it does not rely on the idea that several people's interests or claims receive greater aggregate weight. The argument starts from the idea that due to their stakes, the affected people have claims to have a say in (...) the rescue decision. As rescuers, our primary duty is to respect these procedural claims, which we must do by doing what these people would decide, in a process where each is given an equal vote on the matter. So in cases where each votes in their own self-interest, respect for their equal right to decide, or their autonomy, will lead us to save the greater number. The argument is explained in detail, with special attention to the questions of how, exactly, it avoids aggregation, and of why majority rule is superior to lottery procedures. The view has further advantages. Especially, it explains the “partial” relevance of numbers in cases involving unequal harms, and it does so in a way that dissolves the appearance of paradox that besets theories of “partial aggregation.”. (shrink)

The attention economy — the market where consumers’ attention is exchanged for goods and services — poses a variety of threats to individuals’ autonomy, which, at minimum, involves the ability to set and pursue ends for oneself. It has been argued that the threat wireless mobile devices pose to autonomy gives rise to a duty to oneself to be a digital minimalist, one whose interactions with digital technologies are intentional such that they do not conflict with their ends. In this (...) paper, we argue that there is a corresponding duty to others to be an attention ecologist, one who promotes digital minimalism in others. Although the moral reasons for being an attention ecologist are similar to those that motivate the duty to oneself, the arguments diverge in important ways. We explore the application of this duty in various domains where we have special obligations to promote autonomy in virtue of the different roles we play in the lives of others, such as parents and teachers. We also discuss the consequences of our arguments for employers, software developers, and policy makers. (shrink)

I advocate scepticism about epistemic blame; the view that we have good reason to think there is no distinctively epistemic form of blame. Epistemologists often find it useful to draw a distinction between blameless and blameworthy norm violation. In recent years, this has led several writers to develop theories of ‘epistemic blame.’ I present two challenges against the very idea of epistemic blame. First, everything that is supposedly done by epistemic blame is done by epistemic evaluation, at least according to (...) a prominent view about the social role of epistemic evaluation. Parsimony considerations count against introducing an idle mechanism that does the same work as an existing one. Second, no current theory of epistemic blame includes a plausible account of the force of epistemic blame or the practices that could express it. I conclude that we should give up the notion of epistemic blame. (shrink)

Much recent discussion has focused on the nature of artifacts, particularly on whether they have essences. While it is often held that artifacts are intention-dependent and necessarily have functions, it is equally commonly held, though far less discussed, that artifacts are the result of physical modification of some material objects. This paper argues that the physical modification condition on artifacts is false. First, it formulates the physical modification condition perspicuously for the first time. Second, it offers counterexamples to this condition, (...) both concrete and abstract. Third, it considers, and rejects, two responses to these counterexamples, one which appeals to the distinction between being a K and being used as a K and another which argues that the counterexamples are merely of functional, not artifactual, kinds. Finally, it considers, and rejects, a more general objection that appropriation makes artifact creation too easy. As a consequence, artifacts can be created by appropriating pre-existing objects and it sketches some success conditions for such appropriation. (shrink)

Much recent discussion has focused on the nature of artifacts, particularly on whether artifacts have essences. While the general consensus is that artifacts are at least intention-dependent, an equally common view is function essentialism about artifacts, the view that artifacts are essentially functional objects and that membership in an artifact kind is determined by a particular, shared function. This paper argues that function essentialism about artifacts is false. First, the two component conditions of function essentialism are given a clear and (...) precise formulation, after which counterexamples are offered to each. Second, ways to handle the counterexamples suggested by Randall Dipert and Simon Evnine are considered and rejected. Third, I then consider the prospects for restricting function essentialism to so-called technical artifacts, as Lynne Baker does, and argue that this, too, fails. This paper thereby consolidates the scattered literature on function essentialism and shows that, despite the seeming plausibility of the thesis, it should be rejected as an account of artifact essences. (shrink)

objects are standardly taken to be causally inert, but this claim is rarely explicitly argued for. In the context of his platonism about musical works, in order for musical works to be audible, Julian Dodd argues that abstracta are causally efficacious in virtue of their concrete tokens participating in events. I attempt to provide a principled argument for the causal inertness of abstracta by first rejecting Dodd’s arguments from events, and then extending and generalizing the causal exclusion argument to the (...) abstract/concrete distinction. For reasons of parsimony, if concrete tokens or instantiations of abstract objects account for all causal work, then there is no reason to attribute causal efficacy to abstracta, and thus reason to maintain their causal inertness. I then consider how one of the main arguments against causal exclusion, namely Stephen Yablo’s notion of “proportionality”, could be modified to support the causal efficacy of abstracta. I argue that from a few simple premises Yablo’s account in fact supports their causal inertness. Having a principled reason for the causal inertness of abstracta appears to entail that the musical platonist must admit that we never literally hear the musical work, but only its performances. I sketch a solution to this problem available to Dodd, so that the musical platonist can maintain that musical works are abstract objects and are causally inert while retaining their audibility. (shrink)

Abstract objects are standardly taken to be causally inert, however principled arguments for this claim are rarely given. As a result, a number of recent authors have claimed that abstract objects are causally efficacious. These authors take abstracta to be temporally located in order to enter into causal relations but lack a spatial location. In this paper, I argue that such a position is untenable by showing first that causation requires its relata to have a temporal location, but second, that (...) if an entity is temporally located then it is spatiotemporally located since this follows from the theory of Relativity. Since abstract objects lack a spatiotemporal location, then if something is causally efficacious, it is not abstract. (shrink)

In this paper, I argue that businesses bear a pro tanto, negative, moral obligation to refuse to engage in economic relationships with representatives of intolerable ideologies. For example, restaurants should refuse to serve those displaying Nazi symbols. The crux of this argument is the claim that normal economic activity is not a morally neutral activity but rather an exercise of political power. When a business refuses to engage with someone because of their membership in some group, e.g., Black Americans, this (...) is a use of political power to signal that Black Americans are other. Conversely, when businesses engage with someone who is clearly representing an intolerable ideology, this is a use of political power that signals the acceptability of that ideology. Businesses should not do this. (shrink)

Equity-linked securities with a guaranteed return become popular in a volatile market environment. This paper presents a new model for valuing guaranteed equity-linked notes. We consider a security whose value depends on the performance of a basket of equities averaged over certain points in time, but that is floored by a guaranteed amount. We show that the security’s price is given by the sum of the guaranteed amount plus the price of an Asian style option on the basket above. The (...) model provides analytical formulas for the security’s price as well as for corresponding hedge ratios; these respective formulas appear to be accurate over a wide range of underlying security parameter values, based on numerical testing against a Monte Carlo benchmark, Finally, we apply our method to value a type of segregated fund with a maturity guarantee. (shrink)

This thesis introduces the "method of structural refinement", which serves as a means of transforming the relational semantics of a modal and/or constructive logic into an 'economical' proof system by connecting two proof-theoretic paradigms: labelled and nested sequent calculi. The formalism of labelled sequents has been successful in that cut-free calculi in possession of desirable proof-theoretic properties can be automatically generated for large classes of logics. Despite these qualities, labelled systems make use of a complicated syntax that explicitly incorporates the (...) semantics of the associated logic, and such systems typically violate the subformula property to a high degree. By contrast, nested sequent calculi employ a simpler syntax and adhere to a strict reading of the subformula property, making such systems useful in the design of automated reasoning algorithms. However, the downside of the nested sequent paradigm is that a general theory concerning the automated construction of such calculi (as in the labelled setting) is essentially absent, meaning that the construction of nested systems and the confirmation of their properties is usually done on a case-by-case basis. The refinement method connects both paradigms in a fruitful way, by transforming labelled systems into nested (or, refined labelled) systems with the properties of the former preserved throughout the transformation process. To demonstrate the method of refinement and some of its applications, we consider grammar logics, first-order intuitionistic logics, and deontic STIT logics. The introduced refined labelled calculi will be used to provide the first proof-search algorithms for deontic STIT logics. Furthermore, we employ our refined labelled calculi for grammar logics to show that every logic in the class possesses the effective Lyndon interpolation property. (shrink)

This paper offers some refinements to a particular objection to act consequentialism, the “causal impotence” objection. According to proponents of the objection, when we find circumstances in which severe, unnecessary harms result entirely from voluntary acts, it seems as if we should be able to indict at least one act among those acts, but act consequentialism appears to lack the resources to offer this indictment. Our aim is to show is that the most promising response on behalf of act consequentialism, (...) the threshold argument, cannot offer a fully general prescription about what to do in cases of collective action. (shrink)

The LIBOR Market Model has become one of the most popular models for pricing interest rate products. It is commonly believed that Monte-Carlo simulation is the only viable method available for the LIBOR Market Model. In this article, however, we propose a lattice approach to price interest rate products within the LIBOR Market Model by introducing a shifted forward measure and several novel fast drift approximation methods. This model should achieve the best performance without losing much accuracy. Moreover, the calibration (...) is almost automatic and it is simple and easy to implement. Adding this model to the valuation toolkit is actually quite useful; especially for risk management or in the case there is a need for a quick turnaround. (shrink)

Many authors in ethics, economics, and political science endorse the Lottery Requirement, that is, the following thesis: where different parties have equal moral claims to one indivisible good, it is morally obligatory to let a fair lottery decide which party is to receive the good. This article defends skepticism about the Lottery Requirement. It distinguishes three broad strategies of defending such a requirement: the surrogate satisfaction account, the procedural account, and the ideal consent account, and argues that none of these (...) strategies succeed. The article then discusses and discharges some remaining grounds for resistance to these skeptical conclusions, as well as the possibility of defending a weaker version of a normative lottery principle. The conclusion is that we have no reason to believe that where equal claims conflict, we are morally required to hold a lottery, as opposed to simply picking one of the parties on more subjective grounds or out of pure whim. In addition to the practical consequences of this skeptical view, the article sketches some theoretical implications for debates about saving the greater number and about axiomatic utilitarianism. (shrink)

There are empirical grounds to doubt the effectiveness of a common and intuitive approach to teaching debiasing strategies in critical thinking courses. We summarize some of the grounds before suggesting a broader taxonomy of debiasing strategies. This four-level taxonomy enables a useful diagnosis of biasing factors and situations, and illuminates more strategies for more effective bias mitigation located in the shaping of situational factors and reasoning infrastructure—sometimes called “nudges” in the literature. The question, we contend, then becomes how best to (...) teach the construction and use of such infrastructures. (shrink)

Despite its central role in our cognitive lives, rational belief revision has received relatively little attention from epistemologists. This dissertation begins to fill that absence. In particular, we explore the phenomenon of defeasible epistemic justification, i.e., justification that can be lost as well as gained by epistemic agents. We begin by considering extant theories of defeat, according to which defeaters are whatever cause a loss of justification or things that somehow neutralize one's reasons for belief. Both of these theories are (...) both extensionally and explanatorily inadequate and, so, are rejected. We proceed to develop a novel theory of defeat according to which defeaters are reasons against belief. According to this theory, the dynamics of justification are explained by the competition between reasons for and reasons against belief. We find that this theory not only handles the counter-examples that felled the previous theories but also does a fair job in explaining the various aspects of the phenomenon of defeat. Furthermore, this theory accomplishes this without positing any novel entities or mechanisms; according to this theory, defeaters are epistemic reasons against belief, the mirror image of our epistemic reasons for belief, rather than sui generis entities. (shrink)

Phenomenalist interpretations of Kant are out of fashion. The most common complaint from anti-phenomenalist critics is that a phenomenalist reading of Kant would collapse Kantian idealism into Berkeleyan idealism. This would be unacceptable because Berkeleyan idealism is incompatible with core elements of Kant’s empirical realism. In this paper, I argue that not all phenomenalist readings threaten empirical realism. First, I distinguish several variants of phenomenalism, and then show that Berkeley’s idealism is characterized by his commitment to most of them. I (...) then make the case that two forms of phenomenalism are consistent with Kant’s empirical realism. The comparison between Kant and Berkeley runs throughout the paper, with special emphasis on the significance of their theories of intentionality. (shrink)

A widespread intuition is that words, musical works, and flags are intentionally produced and that they’re abstract types that can have incorrect tokens. But some philosophers, notably Julian Dodd and Nicholas Wolterstorff, think intention-dependence isn’t necessary; tokens just need to have certain relevant intrinsic features to be tokens of a given type. I show how there’s an unappreciated puzzle that arises from these two views: if tokens aren’t intention-dependent and types can admit of correct and incorrect tokens, then some driftwood (...) that washes up and forms what seems like the word ‘cat’ may simultaneously be a misspelling of ‘act’ and innumerable other misspelt words. I consider various ways Dodd and Wolterstorff can respond to this counterintuitive result and argue that biting the bullet, as well as nearby views, are implausible. Thus, they need to give up one of the two commitments, and I argue that requiring the intention-dependence of tokens, rather than the mere possession of certain intrinsic properties, is the best option. (shrink)