This paper focuses on a potential problem with Sosa’s theory of default assumption, viz., the alleged incompatibility of this theory with the closure principle. Given the similarity between the notion of default assumption and Wittgenstein’s notion of hinge commitment, I suggest that two influential hinge epistemologies including Wright’s entitlement theory and Pritchard’s non-belief theory provide resources for possible solutions to the problem. I argue that default assumption should be classified as acceptance and hence as a non-doxastic (...) propositional attitude. Sosa’s theory can deal with the apparent incompatibility with the closure principle by adopting the solution of the non-belief theory, while also avoiding problems affecting the latter view. (shrink)

In this paper, I explore Bach’s idea (Bach, 2000) that null appositives, intended as expanded qua-clauses, can resolve the puzzles of belief reports. These puzzles are crucial in understanding the semantics and pragmatics of belief reports and are presented in a section. I propose that Bach’s strategy is not only a way of dealing with puzzles, but also an ideal way of dealing with belief reports. I argue that even simple unproblematic cases of belief reports are (...) cases of pragmatic intrusion, involving null appositives, or to use the words of Bach, ‘qua-clauses’. The main difference between my pragmatic approach and the one by Salmon (1986) is that this author uses the notion of conversational implicature, whereas I use the notion of pragmatic intrusion and explicature. From my point of view, statements such as ‘‘John believes that Cicero is clever’’ and ‘‘John believes that Tully is clever’’ have got distinct truth-values. In other words, I claim that belief reports in the default case illuminate the hearer on the mental life of the believer, that includes specific modes of presentation of the referents talked about. Furthermore, while in the other pragmatic approaches, it is mysterious how a mode of presentation is assumed to be the main filter of the believer’s mental life, here I provide an explanatory account in terms of relevance, cognitive effects, and processing efforts. The most important part of the paper is devoted to showing that null appositives are required, in the case of belief reports, to explain certain anaphoric effects, which would otherwise be mysterious. My examples show that null appositives are not necessitated at logical form, but only at the level of the explicature, in line with the standard assumptions by Carston and Recanati on pragmatic intrusion. I develop a potentially useful analysis of belief reports by exploiting syntactic and semantic considerations on presuppositional clitics in Romance. (shrink)

Many philosophical debates take for granted that there is such a thing as ‘the’ common-sense conception of the phenomenon of interest. Debates about the nature of perception tend to take for granted that there is a single, coherent common-sense conception of vision, consistent with Direct Realism. This conception is often accorded an epistemic default status. We draw on philosophical and psychological literature on naïve theories and belief fragmentation to motivate the hypothesis that untutored common sense encompasses conflicting Direct (...) Realist and Indirect Realist conceptions: there is no such thing as ‘the’ common-sense conception of vision that could enjoy epistemic default status. To examine this hypothesis, a survey administered an agreement rating task with verbal and pictorial stimuli to lay participants. We found many laypeople simultaneously hold conflicting Direct Realist and Indirect Realist beliefs about vision. Against common assumptions, Direct Realist beliefs are not clearly dominant, and consistent adherence to Direct Realism is not the norm, but the exception. These findings are consistent with recent accounts of belief fragmentation. They forcefully challenge common methodology in philosophical debates about the nature of perception and beyond. (shrink)

Bromwich (2010) argues that a belief is motivationally efficacious in that, other things being equal, it disposes an agent to answer a question in accordance with that belief. I reply that what we are disposed to do is largely determined by our genes, whereas what we believe is largely determined by stimuli from the environment. We have a standing and default disposition to answer questions honestly, ceteris paribus, even before we are exposed to environmental stimuli. Since this (...) standing and default disposition is innate, and our beliefs have their source in environmental stimuli, our beliefs cannot be the source of the disposition. Moreover, a recent finding in neuroscience suggests that motivation is extrinsic to belief. (shrink)

The debate on whether and why misinformation is bad primarily focuses on the spread of false beliefs as its main harm. From the assumption that misinformation primarily causes harm through the spread of false beliefs as a starting point, it has been contended that the problem of misinformation has been exaggerated. Its tendency to generate false beliefs appears to be limited. However, the near-exclusive focus on whether or not misinformation dupes people with false beliefs neglects other epistemic harms associated with (...) it. Specifically, I show that misinformation also causes trouble for the epistemic goods of truth attainment, intellectual autonomy and debate pluriformity. Moreover, for each of these goods, I argue that emphasizing error-avoidance exacerbates, rather than mitigates, the harms caused by misinformation. These oversights and dilemmas show that prioritizing error-avoidance in the fight against misinformation is not a neutral default policy or necessarily a net positive. A shift in focus away from the spread of false beliefs as the main harm of misinformation is needed to better understand and counter its negative effects. (shrink)

In this article, I explore how researchers’ metaphysical commitments can be conducive—or unconducive—to progress in animal cognition research. The methodological dictum known as Morgan’s Canon exhorts comparative psychologists to countenance the least mentalistic fair interpretation of animal actions. This exhortation has frequently been misread as a blanket condemnation of mentalistic interpretations of animal behaviors that could be interpreted behavioristically. But Morgan meant to demand only that researchers refrain from accepting default interpretations of (apparent) actions until other fair interpretations have (...) been duly considered. The Canon backfired largely because of Morgan’s background metaphysical commitment to a univocal, hierarchical, and anthropocentric account of cognitive architecture. I make the case that, going forward, comparative psychologists would do well to pair judicious use of Morgan’s Canon with an openness to the existence of non-humanlike animal minds comprising phenomena belonging to distinct cognitive and folk psychological ontologies. And I argue that this case gives us pragmatic reason to reconcile deep—e.g., psychofunctionalist—and superficial—e.g., dispositionalist—approaches to the metaphysics of belief. (shrink)

It is often claimed that epistemic bubbles and echo chambers foster post-truth by filtering our access to information and manipulating our epistemic attitude. In this paper, I try to add a further level of analysis by adding the issue of belief formation. Building on cognitive psychology work, I argue for a dual-system theory according to which beliefs derive from a default system and a critical system. One produces beliefs in a quasi-automatic, effortless way, the other in a slow, (...) effortful way. I also argue that digital socio-epistemic environments tend to inculcate disvalues in their agent's epistemic identity, a process that causes the cognitive shortcircuits typical of conspiracy theories. (shrink)

This article examines the meaningful intervention that Gert-Jan Van der Heiden’s recent book, The Voice of Misery: A Continental Philosophy of Testimony, makes in the developing field of the philosophy of testimony. I argue that this intervention is accomplished through a phenomenological investigation into the nature of the testimonial object and of the demand that it makes upon one who bears witness. In taking such an approach, I argue, Van der Heiden initiates an ontological turn in the field of testimonial (...) theory, shifting the conversation away from a debate about the conditions in which belief in testimony is justified – a debate that has in many ways defined the field for philosophers in the Anglo-American tradition. I suggest that Van der Heiden’s account is helpful in demonstrating that, in many cases, doing justice to a testimonial object requires an epistemic-ethical attitude other than belief. The article concludes by developing a few questions for Van der Heiden based on my interpretation of his project, including to what extent his phenomenology of testimony can account for how often our receptivity to testimony depends on the default trust that we have in others by virtue of our fundamental immersion in social life. (shrink)

This paper defends a theory of speech act that I call concurrentism. It consists of the following three theses. 1. We believe, ceteris paribus, that other people’s speech acts concur with their beliefs. 2. Our speech acts, ceteris paribus, concur with our beliefs. 3. When our speech acts deviate from our beliefs, we do not, ceteris paribus, declare the deviations to other people. Concurrentism sheds light on what the hearer believes when he hears an indicative sentence, what the speaker believes (...) when he says an indicative sentence, what the speaker does after he says an indicative sentence contrary to what he believes, why Moore’s paradox occurs, why it is puzzling to say some variants of Moorean sentences, and why it is not absurd to say other variants of Moorean sentences. (shrink)

This thesis investigates Hume’s philosophy of external existence in relation to, and within the context of, his philosophy of scepticism. In his two main works on metaphysics – A Treatise of Human Nature (1739–40) and the first Enquiry (first ed. 1748) – Hume encounters a predicament pertaining to the unreflective, ‘vulgar’ attribution of external existence to mental perceptions and the ‘philosophical’ distinction between perceptions and objects. I argue that we should understand this predicament as follows: the vulgar opinion is our (...) natural and default belief for Hume, but causal reasoning reveals it to be false, and the philosophical alternative is a confabulation that we cannot permanently believe and is devoid of justification. Hume uses the fact that we cannot have a satisfactory account of belief in external existence as a sceptical consideration to motivate his wider philosophical scepticism. Hume’s response to his predicament about external existence is found in the context of his confrontation with other sceptical worries (Treatise 1.4.7 and Enquiry 12), in which Hume also reflects generally on the nature and implications of scepticism. I argue that we should characterise Hume’s position as residually sceptical. This means that, while Hume accepts the unanswerability of some sceptical problems, he denies that it is possible to eradicate all belief as a result (and denies that it is practically useful to even try) and instead uses sceptical problems as a motivation to adopt a moderately sceptical position. While we inevitably return to entertaining the vulgar belief, there is no solution to the sceptical predicament; Hume does not endorse the vulgar belief, or the philosophical system, or indeed any alternative system of the external world that might extinguish the predicament. Sceptical doubt, for Hume, does not derail intellectual pursuits, but rather modifies our attitudes in those very pursuits. (shrink)

This article tackles an epistemic puzzle formulated by R. Smullyan that we call the ‘Surprise Deception Paradox'. On the morning of April 1st 1925, his brother announced that he would deceive him during the day, but apparently nothing happened. Since R. Smullyan waited all day to be deceived by some action, he was actually deceived, but by the lack of an action, that is to say by omission. Afterwards, Smullyan felt immediately puzzled: because he expected to be deceived, he was (...) not deceived; but since he was not deceived the way he expected, he was actually deceived. We use dynamic belief revision logic to look more clearly into this puzzle. We argue that Smullyan's reasoning is not a self-referential paradox but shares common features with the more famous Surprise Examination Paradox. In Smullyan's riddle, we show that a misleading default mechanism makes R. Smullyan surprised by the deception he has been preyed to. We also use this solution to discuss whether such defaults, compared to other forms of truth-telling deception, may qualify as lies or not. (shrink)

The Australian philosopher Philip Gerrans ambitiously tries to provide a general theory about the formation of delusions that should enclose neuronal, cognitive and phenomenological levels of description. His theory is defined as narrative and it is grounded on the so called “default thoughts”, that consist in simulations, autobiographical narrative fragments produced by the Default Mode Network (DMN). The DMN is a powerful simulation system that evolved to allow humans to simulate and imagine experiences in the absence of an (...) eliciting stimulus. Such imaginative/simulative process is precariously disciplined by the Self’s demands of narrative coherence. The Author’s aim is to waive the notion of belief and the causal role played by the impairments of fixation-beliefs system in the onset of delusions, as predicted by the principle doxastic theories. (shrink)

I raise the question of what cognitive attitude self-deception brings about. That is: what is the product of self-deception? Robert Audi and Georges Rey have argued that self-deception does not bring about belief in the usual sense, but rather “avowal” or “avowed belief.” That means a tendency to affirm verbally (both privately and publicly) that lacks normal belief-like connections to non-verbal actions. I contest their view by discussing cases in which the product of self-deception is implicated in (...) action in a way that exemplifies the motivational role of belief. Furthermore, by applying independent criteria of what it is for a mental state to be a belief, I defend the more intuitive view that being self-deceived that p entails believing that p. Beliefs (i) are the default for action relative to other cognitive attitudes (such as imagining and hypothesis) and (ii) have cognitive governance over the other cognitive attitudes. I explicate these two relations and argue that they obtain for the product of self-deception. (shrink)

A number of prominent epistemologists claim that the principle of sensitivity “play[s] a starring role in the solution to some important epistemological problems”. I argue that traditional sensitivity accounts fail to explain even the most basic data that are usually considered to constitute their primary motivation. To establish this result I develop Gettier and lottery cases involving necessary truths. Since beliefs in necessary truths are sensitive by default, the resulting cases give rise to a serious explanatory problem for the (...) defenders of sensitivity accounts. It is furthermore argued that attempts to modally strengthen traditional sensitivity accounts to avoid the problem must appeal to a notion of safety—the primary competitor of sensitivity in the literature. The paper concludes that the explanatory virtues of sensitivity accounts are largely illusory. In the framework of modal epistemology, it is safety rather than sensitivity that does the heavy explanatory lifting with respect to Gettier cases, lottery examples, and other pertinent cases. (shrink)

Wars are large-scale conflicts between organized groups of belligerents, which involve suffering, devastation, and brutality unlike almost anything else in human experience. Whatever one’s other beliefs about morality, all should agree that the horrors of war are all but unconscionable, and that warfare can be justified only if we have some compel- ling account of what is worth fighting for, which can justify contributing, as individu- als and as groups, to this calamitous endeavour. Although this question should obviously be central (...) to both philosophical and politi- cal discussion about war, it is at the forefront of neither. In recent years, philosophical discussion of warfare has bloomed, but the debate has focused on whom we may kill, on the assumption that our aims are justified.1 Political debate, meanwhile, is more concerned with matters of prudence, international law, and public justification, than with reassessing what is worth fighting for. For wars of intervention to halt or prevent massive humanitarian crises, this gap is not so troubling. When warfare is the only means to prevent the mass killing or enslavement of the innocent, the purposes of military force are clear enough (though undoubtedly many other problems remain). The problem is more pressing, how- ever, for the justification of national defence.3 Although common-sense morality and international law view national defence as the paradigm case of justified warfare, grounding this consensus is surprisingly difficult.4 We typically believe that any state is justified in using lethal force to protect its territory against any form of uninvited military incursion by any other state. And yet we lack a good argument to explain why this should be so. In this chapter, I explain why one familiar and otherwise plausible approach to the justification of killing in war cannot adequately ground common-sense views of permissible national defence.5 Reductionists believe that justified warfare reduces to an aggregation of acts that are justified under ordinary principles of interpersonal morality.6 The standard form of reductionism focuses on the principles governing killing in ordinary life, specifically those that justify intentional killing in self- and other-defence, and unintended but foreseen (for short, collateral) killing as a lesser evil. Justified warfare, on this view, is no more than the coextension of multiple acts justified under these two principles. Reductionism is the default philosophical approach to thinking through the ethics of killing in war. It makes perfect sense to ask what principles govern permissible kill- ing in general, before applying them to the particular context of war. If it cannot deliver a plausible set of conclusions about when national defence is permitted, then we must either revise our beliefs about which conclusions count as plausible, or else face the significant challenge of developing a different theoretical model for justifying war- fare—an exceptionalist model, which views war as an exception to the regular moral landscape, to which principles apply which apply to nothing else but war.7 We must show, in other words, that there is something worth fighting for in wars of national defence, which is not engaged when we use force in any other context. The chapter proceeds as follows. Section 2.2 sets out the argument against reduc- tionism.8 Section 2.3 considers and rebuts one common response to the argument, which has often been thought sufficient grounds to disregard its conclusion. Section 2.4 then asks whether a modified reductionism would survive unscathed by the argu- ment. Finally, section 2.5 sets out some desiderata on a plausible exceptionalist alterna- tive. Section 2.6 concludes. (shrink)

Several important philosophical problems (including the problems of perception, free will, and scepticism) arise from antinomies that are developed through philosophical paradoxes. The critical strand of ordinary language philosophy (OLP), as practiced by J.L. Austin, provides an approach to such ‘antinomic problems’ that proceeds from an examination of ‘ordinary language’ (how people ordinarily talk about the phenomenon of interest) and ‘common sense’ (what they commonly think about it), and deploys findings to show that the problems at issue are artefacts of (...) fallacious reasoning. The approach is capable, and in need of, empirical development. Proceeding from a case-study on Austin’s paradigmatic treatment of the problem of perception, this paper identifies the key empirical assumptions informing the approach, assesses them in the light of empirical findings about default inferences, contextualisation failures, and belief fragmentation, and explores how these findings can be deployed to address the problem of perception. This facilitates a novel resolution of the problem of perception. Proceeding from this paradigm, the paper proposes ‘experimental critical OLP’ as a new research program in experimental philosophy that avoids apparent non-sequiturs of OLP, extends and transforms experimental philosophy’s ‘sources program’, and provides a promising new strategy for deploying empirical findings about how people ordinarily talk and think about phenomena, to address longstanding philosophical problems. (shrink)

In this essay we collect and put together a number of ideas relevant to the under- standing of the phenomenon of creativity, confining our considerations mostly to the domain of cognitive psychology while we will, on a few occasions, hint at neuropsy- chological underpinnings as well. In this, we will mostly focus on creativity in science, since creativity in other domains of human endeavor have common links with scientific creativity while differing in numerous other specific respects. We begin by briefly (...) introducing a few basic notions relating to cognition, among which the notion of ‘concepts’ is of basic relevance. The myriads of concepts lodged in our mind constitute a ‘conceptual space’ of an enormously complex structure, where con- cepts are correlated by beliefs that are themselves made up of concepts and are as- sociated with emotions. The conceptual space, moreover, is perpetually in a state of dynamic evolution that is once again of a complex nature. A major component of the dynamic evolution is made up of incessant acts of inference, where an inference occurs essentially by means of a succession of correlations among concepts set up with beliefs and heuristics, the latter being beliefs of a special kind, namely, ones relatively free of emotional associations and possessed of a relatively greater degree of justification. Beliefs, along with heuristics, have been described as the ‘mind’s software’, and con- stitute important cognitive components of the self-linked psychological resources of an individual. The self is the psychological engine driving all our mental and physical activity, and is in a state of ceaseless dynamics resulting from one’s most intimate ex- periences of the world accumulating in the course of one’s journey through life. Many of our psychological resources are of a dual character, having both a self-linked and a shared character, the latter being held in common with larger groups of people and imbibed from cultural inputs. We focus on the privately held self-linked beliefs of an individual, since these are presumably of central relevance in making possible inductive inferences – ones in which there arises a fundamental need of adopting a choice or making a decision. Beliefs, decisions, and inferences, all have the common link to the self of an individual and, in this, are fundamentally analogous to free will, where all of these have an aspect of non-determinism inherent in them. Creativity involves a major restructuring of the conceptual space where a sustained inferential process eventually links remote conceptual domains, thereby opening up the possibility of a large number of new correlations between remote concepts by a cascading process. Since the process of inductive inference depends crucially on de- cisions at critical junctures of the inferential chain, it becomes necessary to examine the basic mechanism underlying the making of decisions. In the framework that we attempt to build up for the understanding of scientific creativity, this role of decision making in the inferential process assumes central relevance. With this background in place, we briefly sketch the affect theory of decisions. Affect is an innate system of response to perceptual inputs received either from the exter- nal world or from the internal physiological and psychological environment whereby a positive or negative valence gets associated with a perceptual input. Almost every sit- uation faced by an individual, even one experienced tacitly, i.e., without overt aware-ness, elicits an affective response from him, carrying a positive or negative valence that underlies all sorts of decision making, including ones carried out unconsciously in inferential processes. Referring to the process of inferential exploration of the conceptual space that gener- ates the possibility of correlations being established between remote conceptual do- mains, such exploration is guided and steered at every stage by the affect system, analogous to the way a complex computer program proceeds through junctures where the program ascertains whether specified conditions are met with by way of generating appropriate numerical values – for instance, the program takes different routes, depending on whether some particular numerical value turns out to be positive or negative. The valence generated by the affect system in the process of adoption of a choice plays a similar role which therefore is of crucial relevance in inferential processes, especially in the exploration of the conceptual space where remote domains need to be linked up – the affect system produces a response along a single value dimension, resembling a number with a sign and a magnitude. While the affect system plays a guiding role in the exploration of the conceptual space, the process of exploration itself consists of the establishment of correlations between concepts by means of beliefs and heuristics, the self-linked ones among the latter having a special role in making possible the inferential journey along alternative routes whenever the shared rules of inference become inadequate. A successful access to a remote conceptual domain, necessary for the creative solution of a standing problem or anomaly – one that could not be solved within the limited domain hitherto accessed – requires a phase of relatively slow cumulative search and then, at some stage, a rapid cascading process when a solution is in sight. Representing the conceptual space in the form of a complex network, the overall process can be likened to one of self-organized criticality commonly observed in the dynamical evolution of complex systems. In order that inferential access to remote domains may actually be possible, it is necessary that restrictions on the exploration process – necessary for setting the context in ordinary instances of inductive inference – be relaxed and a relatively free exploration in a larger conceptual terrain be made possible. This is achieved by the mind going into the default mode, where external constraints – ones imposed by shared beliefs and modes of exploration – are made inoperative. While explaining all these various aspects of the creative process, we underline the supremely important role that analogy plays in it. Broadly speaking, analogy is in the nature of a heuristic, establishing correlations between concepts. However, analo- gies are very special in that these are particularly effective in establishing correlations among remote concepts, since analogy works without regard to the contiguity of the concepts in the conceptual space. In establishing links between concepts, analogies have the power to light up entire terrains in the conceptual space when a rapid cas- cading of fresh correlations becomes possible. The creative process occurs within the mind of a single individual or of a few closely collaborating individuals, but is then continued by an entire epistemic community, eventually resulting in a conceptual revolution. Such conceptual revolutions make pos- sible the radical revision of scientific theories whereby the scope of an extant theory is broadened and a new theoretical framework makes its appearance. The emerging theory is characterized by a certain degree of incommensurability when compared with the earlier one – a feature that may appear strange at first sight. But incommen- surability does not mean incompatibility and the apparently contrary features of the relation between the successive theories may be traced to the multi-layered structureof the conceptual space where concepts are correlated not by means of single links but by multiple ones, thereby generating multiple layers of correlation, among which some are retained and some created afresh in a conceptual restructuring. We conclude with the observation that creativity occurs on all scales. Analogous to correlations being set up across domains in the conceptual space and new domains being generated, processes with similar features can occur within the confines of a domain where a new layer of inferential links may be generated, connecting up sub- domains. In this context, insight can be looked upon as an instance of creativity within the confines of a domain of a relatively limited extent. (shrink)

This paper advances an approach to presupposition rooted in the concept of commitment, a dialectical notion weaker than truth and belief. It investigates ancient medieval dialectical theories and develops the insights thereof for analyzing how presuppositions are evaluated and why a proposition is presupposed. In particular, at a pragmatic level, presuppositions are reconstructed as the conclusions of implicit arguments from presumptive reasoning, grounded on presumptions of different type and nature. A false (or rather unaccepted) presupposition can be thus represented (...) as the outcome of a conflict of presumptions – the ones used by the Speaker and the ones commonly accepted or backed by evidence. From an interpretative perspective, this defaulted presumptive reasoning can be explained by comparing the available presumptions and repaired by replacing the weaker and unacceptable ones. (shrink)

Susanna Rinard aims to show that it is possible to rationally persuade an external world skeptic to reject external world skepticism. She offers an argument meant to convince a skeptic who accepts her views on “several orthogonal issues in epistemology” to give up their external world skepticism. While I agree with Rinard that it is possible to reason with a skeptic, I argue that Rinard overlooks a variety of good epistemic grounds a skeptic could appeal to in rejecting her argument (...) and its conclusion. More specifically, I argue that the external world skeptic can resist Rinard’s conclusion by (1) distinguishing between skepticism about knowledge and skepticism about justification, (2) by prioritizing obtaining accurate beliefs (maximizing true beliefs and minimizing false beliefs) over being rational, or (3) by treating suspension of judgment as the default rational doxastic attitude. (shrink)

This paper investigates the possibilities of ordinary people to estabish a moral authority in a subclass of everyday scenarios in the public domain that are characterised by an underdetermination of the obtaining norms and regulations. The paper offers a strategy based on hospitality to challenge the all too common practice of ignoring one’s responsibility as a moral agent and to hide in one’s shell, hoping that others (police power!) will solve one’s problem. The paper begins with a description of a (...) few scenarios in which it is less or more complicated for people to intervene as authorities. The tendency in such scenarios to retreat from one’s responsibility is analysed in terms of a distinction between power and authority, the latter enabling interventions based on a framework of justifying reasons. It is argued that a lack of confidence in the availability of such a framework of justifying reasons might explain the popularity of the current defensive tendency, especially against the background belief that interventions based on power are by default unjustified. An analysis is provided of trust as an attitude that complements authority. No authority, and no framework of justifying reasons, without trust. But a crucial feature of trust is the courage to accept one’s own vulnerability. This insight is used as the stepping stone for the alternative stategey based on hospitality. A sketch is provided of how this might work, involving five steps, the crucial ones being (1) an invitation to the other people in the scenario to compose a plural subject and (2) an offer to take up the responsibility to host this plural subject acknowledging one’s vulnerabilty to the independence of one’s guests. (shrink)

This paper argues that the reduced-form jump diffusion model may not be appropriate for credit risk modeling. To correctly value hybrid defaultable financial instruments, e.g., convertible bonds, we present a new framework that relies on the probability distribution of a default jump rather than the default jump itself, as the default jump is usually inaccessible. As such, the model can back out the market prices of convertible bonds. A prevailing belief in the market is that convertible (...) arbitrage is mainly due to convertible underpricing. Empirically, however, we do not find evidence supporting the underpricing hypothesis. Instead, we find that convertibles have relatively large positive gammas. As a typical convertible arbitrage strategy employs delta-neutral hedging, a large positive gamma can make the portfolio highly profitable, especially for a large movement in the underlying stock price. (shrink)

This paper presents a new model for valuing hybrid defaultable financial instruments, such as, convertible bonds. In contrast to previous studies, the model relies on the probability distribution of a default jump rather than the default jump itself, as the default jump is usually inaccessible. As such, the model can back out the market prices of convertible bonds. A prevailing belief in the market is that convertible arbitrage is mainly due to convertible underpricing. Empirically, however, we (...) do not find evidence supporting the underpricing hypothesis. Instead, we find that convertibles have relatively large positive gammas. As a typical convertible arbitrage strategy employs delta-neutral hedging, a large positive gamma can make the portfolio highly profitable, especially for a large movement in the underlying stock price. (shrink)

This dissertation is a contribution to the field of empirically informed metaethics, which combines the rigorous conceptual clarity of traditional metaethics with a careful review of empirical evidence. More specifically, this work stands at the intersection of moral psychology, moral epistemology, and philosophy of action. The study comprises six chapters on three distinct (although related) topics. Each chapter is structured as an independent paper and addresses a specific open question in the literature. The first part concerns the psychological features and (...) cognitive function of moral intuition. Chapter 1 (“Moral intuition, strength, and metacognition”) is focused on the concept of intuitive strength, which is one of the defining features of moral intuition. I provide a metacognitive account of intuitive strength and show why such a view is preferable to emotional or quasi-perceptual accounts. Then, in Chapter 2 (“Dual process reflective equilibrium”), I will discuss the interplay between intuition and reflection in moral reasoning. I will contend that the influential “default-interventionist” model of reasoning, theorized by Greene, is insufficiently supported by the evidence. In light of some recent studies, I outline an account of moral reasoning in which intuition and reflection are not in conflict but cooperate to reach a reflective goal. I call this model dual process reflective equilibrium. The aim of the first part is descriptive, i.e., it argues for an accurate understanding of moral intuition and reasoning in light of the available empirical evidence. In contrast, the second part addresses a normative question: is a subject epistemically justified in forming a belief on the basis of a moral intuition? Skeptics of moral intuition argue that accepting moral intuitions should be the exception rather than the rule to the extent that epistemically defective processes determine the content of moral intuitions. Chapter 3 (“Moral intuitionism and the reliability challenge”) introduces the recent empirical challenges to the reliability of moral intuitions and elaborates a promising strategy for defending intuitionism. In short, I consider whether subjects can track the reliability of their intuitions with their confidence. In Chapter 4 (“The argument from limited cognitive resources”), I evaluate a different strategy to defend moral intuitionism. Specifically, I develop an argument according to which accepting moral intuitions is legitimate because it is the most rational option that a subject has, given her limited resources. The third and final part of the dissertation concerns the role of moral intuitions in action. The influence of automatic processes on moral conduct raises different challenges to moral philosophy. The first challenge is to explain how a subject can be motivated by certain values without the mental effort of deliberation. Chapter 5 (“Caring, moral motivation, and automatic conduct”) tackles this issue. Chapter 6 (“Moral sensitivity as skillful automaticity”) aims to explain how moral agents can be sensitive to good reasons through automatic mental processes. (shrink)

Most mental disorders affect only a small segment of the population. On the reasonable assumption that minds or brains are prone to occasional malfunction, these disorders do not seem to pose distinctive explanatory problems. Depression, however, because it is so prevalent and costly, poses a conundrum that some try to explain by characterizing it as an adaptation—a trait that exists because it performed fitness-enhancing functions in ancestral populations. Heretofore, proposed evolutionary explanations of depression did not focus on thought processes; instead, (...) they emphasized that it facilitates navigation of adverse social circumstances or promotes immune response to infectious agents. According to a new hypothesis, the “analytical rumination hypothesis” (ARH), however, depression’s crucial adaptive trait is rumination—negative, intrusive thought. ARH holds that, (i) social dilemmas trigger depressed mood; (ii) depressed mood induces changes in body systems that facilitate ruminative analysis aimed at solving dilemmas; and, (iii) depressive rumination is a fitness-enhancing trait that was selected for in evolutionary time. Jointly, (i)~(iii) imply that we should not think of rumination as a disorder; instead, it is a trade-off, an eminently rational one. In the same way that fever solves a problem—coordination of the immune system in response to infection—so too does depressive rumination solve a problem, a social dilemma, albeit at the cost of inducing anhedonia and other maladies. But they argue that the cost is worthwhile, something that should be endured “until the problem is solved.” First, we argue that there are two distinct types of rumination, brooding and pondering; the former is associated with a disposition for depression, not the latter. But only the latter has the problem-solving capabilities that ARH requires. Second, recent brain imaging studies of depression reveal resting state hypoactivity in lateral regions and hyperactivity in paralimbic regions; this asymmetric pattern correlates with heightened levels of brooding, self-focused rumination. In other words, on the personal level, patients are trapped within self, isolated from the external world and suffused with negative affect; on the subpersonal level, this pattern is reflected by an asymmetric pattern of lateral vs. paralimbic resting state activity. Third, we proceed to conjecture that rational responses (e.g., pondering) to social dilemmas are those that strike a balance between internal and external considerations in the process of belief formation. Fourth, because the asymmetric resting state activity blocks those who suffer with depression from accessing and processing potentially positive stimuli from the external world, the capacity for rational, analytic response—hence, problem-solving—is constrained. Fifth, it follows that, although there might be conditions for which suffering should be endured rather than pharmacologically alleviated, depression is not one of those. Indeed, in view of the effects of the asymmetric resting state pattern, it is unlikely that depressive rumination would have been useful even for ancestral populations. (shrink)

Default positions, predetermined starting points that aid in complex decision-making, are common in clinical medicine. In this article, we identify and critically examine common default positions in clinical ethics practice. Whether default positions ought to be held is an important normative question, but here we are primarily interested in the descriptive, rather than normative, properties of default positions. We argue that default positions in clinical ethics function to protect and promote important values in medicine—respect for (...) persons, utility, and justice. Further, default positions in clinical ethics may also guard against harm. Where default positions exist, there are epistemic burdens to overturn them. The person wishing to reject the default position, rather than the person endorsing it, bears this burden. The person who bears the burden of meeting the epistemic requirements must provide evidence proportional to the degree of harm the default position protects against. Default positions that protect against significant harm impose significant epistemic requirements to overturn. This asymmetry not only makes medical decision-making more economical but also serves to promote and protect certain values. The identification and analysis of common and recognizable default positions can help to identify other default positions and the conditions under which their associated epistemic requirements are met. The article concludes with considerations of potential problems with the use of default positions in clinical ethics. (shrink)

Relationship between default semantics and modularity of mind (in particular mind reading through the principle of Relevance).

The default theory of aesthetic value combines hedonism about aesthetic value with strict perceptual formalism about aesthetic value, holding the aesthetic value of an object to be the value it has in virtue of the pleasure it gives strictly in virtue of its perceptual properties. A standard theory of aesthetic value is any theory of aesthetic value that takes the default theory as its theoretical point of departure. This paper argues that standard theories fail because they theorize from (...) the default theory. (shrink)

We start with an observation about implicit quantifier domain restriction: certain implicit restrictions (e.g., restricting objects by location and time) appear to be more natural and widely available than others (e.g., restricting objects by color, aesthetic, or historical properties). Our aim is to explain why this is. That is, we aim to explain why some implicit domain restriction possibilities are available by default. We argue that, regardless of their other explanatory virtues, extant pragmatic and metasemantic frameworks leave this question (...) unanswered. We then motivate a partially nativist account of domain restriction that involves a minimal view of joint planning around broad shared goals about navigating and influencing our environments augmented with cognitive heuristics that facilitate these. Finally, we sketch how the view can be extended to account for the ways non-default restriction possibilities become available when conversationalists have shared idiosyncratic goals. (shrink)

The notions of inference and default are used in pragmatics with different meanings, resulting in theoretical disputes that emphasize the differences between the various pragmatic approaches. This paper is aimed at showing how the terminological and theoretical differences concerning the two aforementioned terms result from taking into account inference and default from different points of view and levels of analysis. Such differences risk making a dialogue between the theories extremely difficult. However, at a functional level of analysis the (...) different theories, definitions, and approaches to interpretation can be compared and integrated. At this level, the standardization of pragmatic inferences can be regarded as the development of a specific type of presumptions, used to draw prima-facie interpretations. (shrink)

In this paper, I show that Polleit and Mariano (2011) are right in concluding that Credit Default Swaps (CDS) are per se unobjectionable from Rothbard’s libertarian perspective on property rights and contract theory, but that they fail to derive this conclusion properly. I therefore outline the proper explanation. In addition, though Polleit and Mariano are correct in pointing out that speculation with CDS can conceivably hurt the borrowers’ interests, they fail to grasp that this can be the case only (...) in some peculiar circumstances that I identify. In other words, they miss the bigger picture, the one outside special circumstances, in which CDS trading has the opposite effect. That is, CDS facilitate debt accumulation, including government debt accumulation. Finally, I point out how this can precipitate the collapse of fiat money regimes. An incidental goal of the analysis is to provide a better account than Polleit and Mariano of recent government interventions in and around CDS markets. (shrink)

Reasoning by default is a relevant aspect of everyday life that has traditionally attracted the attention of many fields of research, from psychology to the philosophy of logic, from economics to artificial intelligence. Also in the field of law, default reasoning is widely used by lawyers, judges and other legal decision-makers. In this paper, a philosopher of language (Carlo Penco) and a philosopher of law (Damiano Canale) attempt to explore some uses of default reasoning that are scarcely (...) considered by legal theory. In particular, the dialogue dwells on the notion of literal meaning, witness testimony, and the problem of disagreement among experts in legal proceedings. The paper is intended as a sort of brain storming useful to identify new lines of research straddling philosophy of law, cognitive psychology and philosophy of language. (shrink)

According to the cognitive model of psychopathology, maladaptive beliefs about oneself, others, and the world are the main factors contributing to the development and persistence of various forms of mental suffering. Therefore, the key therapeutic process of Cognitive Behavioral Therapy (CBT)—a therapeutic approach rooted in the cognitive model—is cognitive restructuring, i.e., a process of revision of such maladaptive beliefs. In this paper, I examine the philosophical assumptions underlying CBT and offer theoretical reasons to think that the effectiveness of belief (...) revision in psychotherapy is very limited. This is the case, I argue, because the cognitive model wrongly assumes that our body of beliefs is unified, while it is in fact fragmented. (shrink)

Belief-in reports of the form 'S believes in O' have been taken to have at least two senses: factual and evaluative. I begin by briefly suggesting that there is no evidence for two distinct senses, then spend most of the paper developing a general semantics for belief-in reports. I explore, and use my semantics to explain, several features of belief-in reports: the context-dependence of what belief-that reports they entail, their widespread lack of equivalence with belief-that (...) reports, and their neg-raising property. Put roughly, my semantics says that 'S believes in O' a) asserts that, for some contextually salient property F, S believes that O has F and b) presupposes that S either has a belief that O has F for which they meet an affective and evidential requirement or has a belief that O doesn’t have F for which they meet an affective and evidential requirement. (shrink)

This paper addresses a recent suggestion that moral particularists can extend their view to countenance default reasons (at a first stab, reasons that are pro tanto unless undermined) by relying on certain background expectations of normality. I first argue that normality must be understood non-extensionally. Thus if default reasons rest on normality claims, those claims won't bestow upon default reasons any definite degree of extensional generality. Their generality depends rather on the contingent distributional aspects of the world, (...) which no theory of reasons should purport to settle. Appeals to default reasons cannot therefore uniquely support particularism. But this argument also implies that if moral generalism entailed that moral reasons by necessity have invariant valence (in the natural extensional sense), it would be a non-starter. Since generalism is not a non-starter, my argument forces us to rethink the parameters of the generalism-particularism debate. Here I propose to clarify the debate by focusing on its modal rather than extensional aspects. In closing, I outline the sort of generalism that I think is motivated by my discussion, and then articulate some worries this view raises about the theoretical usefulness of the label ‘default reason’. -/- [Note: The outline of moral generalism provided in this paper is superseded by those in "Moral Generalism: Enjoy in Moderation" and "A Theory of Hedged Moral Principles".]. (shrink)

Default logic has been a very active research topic in artificial intelligence since the early 1980s, but has not received as much attention in the philosophical literature thus far. This paper shows one way in which the technical tools of artificial intelligence can be applied in contemporary epistemology by modeling a paradigmatic case of deep disagreement using default logic. In §1 model-building viewed as a kind of philosophical progress is briefly motivated, while §2 introduces the case of deep (...) disagreement we aim to model. On the heels of this, §3 defines our formal framework, viz., a refined Horty-style default logic. §4 then uses the framework to model deep disagreement, and finally §5 provides a critical discussion of the result. (shrink)

I identify and develop a solution to the puzzles of anankastic conditionals that is novel in the sense that it has gone largely unnoticed, but also well-worn in that the materials for it have long been available. The solution involves an integration of the classical Kratzerian premise semantics and a default theory of reasons (such as the one presented in Horty, 2012, leveraging several decades of research on default logic). To stress-test the proposal I also investigate how it (...) might be applied to the variety of anankastic-adjacent data discussed by Condoravdi and Lauer (2016). The resulting approach is not just an exceptional fit for the problem of anankastic conditionals, but also an independently promising upgrade on the classical account of modals. (shrink)

It may seem that epistemic and practical rationality weigh reasons differently, because ties in practical rationality tend to generate permissions and ties in epistemic rationality tend to generate a requirement to withhold judgment. I argue that epistemic and practical rationality weigh reasons in the same way, but they have different "default biases". Practical rationality is biased toward every option being permissible whereas epistemic rationality is biased toward withholding judgment's being required.

Radical moral encroachment is the view that belief itself is morally evaluable, and that some moral properties of belief itself make a difference to epistemic rationality. To date, almost all proponents of radical moral encroachment hold to an asymmetry thesis: the moral encroaches on rational belief, but not on rational credence. In this paper, we argue against the asymmetry thesis; we show that, insofar as one accepts the most prominent arguments for radical moral encroachment on belief, (...) one should likewise accept radical moral encroachment on credence. We outline and reject potential attempts to establish a basis for asymmetry between the attitude types. Then, we explore the merits and demerits of the two available responses to our symmetry claim: (i) embracing moral encroachment on credence and (ii) denying moral encroachment on belief. (shrink)

Belief-credence dualism is the view that we have both beliefs and credences and neither attitude is reducible to the other. Pragmatic encroachment is the view that practical stakes can affect the epistemic rationality of states like knowledge or justified belief. In this paper, I argue that dualism offers a unique explanation of pragmatic encroachment cases. First, I explain pragmatic encroachment and what motivates it. Then, I explain dualism and outline a particular argument for dualism. Finally, I show how (...) dualism can explain the intuitions that underlie pragmatic encroachment. My basic proposal is that in high-stakes cases, it is not that one cannot rationally believe that p; instead, one ought not to rely on one's belief that p. One should rather rely on one's credence in p. I conclude that we need not commit ourselves to pragmatic encroachment in order to explain the intuitiveness of the cases that motivate it. (shrink)

Some theorists have recently raised doubts about much of the experimental evidence purporting to demonstrate the existence of unconscious perception. In our (2019) in this journal, we argued some of these considerations are not decisive. Phillips (forthcoming a) replies thoughtfully to our paper, concluding that he is unconvinced by our arguments. Phillips maintains that the view that perception is invariably conscious remains, as he puts it, the “default” hypothesis both within the folk understanding and experimental study of perception. There (...) is much to agree with in Phillips’ piece, but there remain some substantive points of disagreement, which we outline here. (shrink)

I explore how rational belief and rational credence relate to evidence. I begin by looking at three cases where rational belief and credence seem to respond differently to evidence: cases of naked statistical evidence, lotteries, and hedged assertions. I consider an explanation for these cases, namely, that one ought not form beliefs on the basis of statistical evidence alone, and raise worries for this view. Then, I suggest another view that explains how belief and credence relate to (...) evidence. My view focuses on the possibilities that the evidence makes salient. I argue that this makes better sense of the difference between rational credence and rational belief than other accounts. (shrink)

Philosophers are divided over whether implicit biases are beliefs. Critics of the belief model of implicit bias argue that empirical data show that implicit biases are habitual but unstable and not sensitive to evidence. They are not rational or consistently action-guiding like beliefs are supposed to be. In contrast, proponents of the belief model of implicit bias argue that they are stable enough, sensitive to some evidence, and do guide our actions, albeit haphazardly sometimes. With the help of (...) revisionary notions of belief, such as fragmented, Spinozan, and dispositional belief, these theorists argue that implicit biases are beliefs. I argue that both the critiques and defenses of belief models of implicit bias are problematic. This methodological critique suggests that debates about nature of the implicit bias ought to shift away from the belief question and toward more fundamental questions about stability and evidential sensitivity of implicit biases. I chart the path forward for this prescribed shift in the debate. (shrink)

This paper explores the sense in which correctness applies to belief-like imaginings. It begins by establishing that when we imagine, we ‘direct’ our imaginings at a certain imaginary world, taking the propositions we imagine to be assessed for truth in that world. It then examines the relation between belief-like imagining and positing truths in an imaginary world. Rejecting the claim that correctness, in the literal sense, is applicable to imaginings, it shows that the imaginer takes on, vis-à-vis the (...) imaginary world, the first-person perspective of a believer. Imaginings, it concludes, ‘mimic’ beliefs with respect to the property of being correct or incorrect by virtue of having true or false content. (shrink)

There is a fundamental disconnect between the public discourse about sovereign and external debt in comparison to private domestic debt. The latter is predominantly viewed through a Humean lens, which sees economic morality in terms of contingent social institutions, justified by the valuable goods they realize; while sovereign and external debt is viewed through a Lockean lens, which sees property, contract, and debt as possessing an intrinsic moral quality, independent of social context or consequences. This Article examines whether this Lockean (...) perspective on sovereign and external debt is compatible with the dominance of Humean approaches to the domestic economy. It considers and rejects the most plausible argument for reconciling these views, which emphasizes the different qualities of cooperation in the international and domestic economies. It further argues that many standard objections to a Humean approach to sovereign debt suggest, not the Lockean approach, but rather a Hobbesian international moral skepticism. Concluding that the Lockean approach is unmotivated, this Article instead advances a Humean account of sovereign debt and default. It shows how taking seriously the demand for institutional justification and the idea of persons and peoples as free and equal provides an account of the duties of states—whether creditors, debtors or third parties—in sovereign debt crises. It further examines the implications of each approach for democratic choice about sovereign default. (shrink)

There are currently two robust traditions in philosophy dealing with doxastic attitudes: the tradition that is concerned primarily with all-or-nothing belief, and the tradition that is concerned primarily with degree of belief or credence. This paper concerns the relationship between belief and credence for a rational agent, and is directed at those who may have hoped that the notion of belief can either be reduced to credence or eliminated altogether when characterizing the norms governing ideally rational (...) agents. It presents a puzzle which lends support to two theses. First, that there is no formal reduction of a rational agent’s beliefs to her credences, because belief and credence are each responsive to different features of a body of evidence. Second, that if our traditional understanding of our practices of holding each other responsible is correct, then belief has a distinctive role to play, even for ideally rational agents, that cannot be played by credence. The question of which avenues remain for the credence-only theorist is considered. (shrink)

In this paper, I argue that the relationship between belief and credence is a central question in epistemology. This is because the belief-credence relationship has significant implications for a number of current epistemological issues. I focus on five controversies: permissivism, disagreement, pragmatic encroachment, doxastic voluntarism, and the relationship between doxastic attitudes and prudential rationality. I argue that each debate is constrained in particular ways, depending on whether the relevant attitude is belief or credence. This means that epistemologists (...) should pay attention to whether they are framing questions in terms of belief or in terms of credence and the success or failure of a reductionist project in the belief-credence realm has significant implications for epistemology generally. (shrink)

The one-side defaultable financial derivatives valuation problems have been studied extensively, but the valuation of bilateral derivatives with asymmetric credit qualities is still lacking convincing mechanism. This paper presents an analytical model for valuing derivatives subject to default by both counterparties. The default-free interest rates are modeled by the Market Models, while the default time is modeled by the reduced-form model as the first jump of a time-inhomogeneous Poisson process. All quantities modeled are market-observable. The closed-form solution (...) gives us a better understanding of the impact of the credit asymmetry on swap value, credit value adjustment, swap rate and swap spread. (shrink)

Spontaneous activity levels prior to stimulus presentation can determine how that stimulus will be perceived. It has also been proposed that such spontaneous activity, particularly in the default-mode network (DMN), is involved in self-related processing. We therefore hypothesised that pre-stimulus activity levels in the DMN predict whether a stimulus is judged as self-related or not. Method: Participants were presented in the MRI scanner with a white noise stimulus that they were instructed contained their name or another. They then had (...) to respond with which name they thought they heard. Regions where there was an activity level difference between self and other response trials two seconds prior to the stimulus being presented were identified. Results: Pre-stimulus activity levels were higher in the right temporoparietal junction (RTPJ), the right temporal pole (RTP), and the left superior temporal gyrus in trials where the participant responded that they heard their own name than trials where they responded that they heard another. Conclusion: Pre-stimulus spontaneous activity levels in particular brain regions, largely overlapping with the DMN, predict the subsequent judgement of stimuli as self-related. This extends our current knowledge of self-related processing and its apparent relationship with intrinsic brain activity in what can be termed a rest-self overlap. (shrink)

How do opinion diversity and belief polarisation affect epistemic group decision-making, particularly if decisions must be made without delay and on the basis of permissive evidence? In an agent-based model, we track the consistency of group opinions aggregated through sentence-wise majority voting. Simulations on the model reveal that high opinion diversity, but not polarisation, incurs a significant inconsistency risk. These results indicate that epistemic group decisions based on permissive evidence can be particularly difficult for diverse groups. The results also (...) improve our understanding of what can reasonably be expected of expert groups, and where expert advice might have limits. (shrink)

The Bayesian maxim for rational learning could be described as conservative change from one probabilistic belief or credence function to another in response to newinformation. Roughly: ‘Hold fixed any credences that are not directly affected by the learning experience.’ This is precisely articulated for the case when we learn that some proposition that we had previously entertained is indeed true (the rule of conditionalisation). But can this conservative-change maxim be extended to revising one’s credences in response to entertaining propositions (...) or concepts of which one was previously unaware? The economists Karni and Vierø (2013, 2015) make a proposal in this spirit. Philosophers have adopted effectively the same rule: revision in response to growing awareness should not affect the relative probabilities of propositions in one’s ‘old’ epistemic state. The rule is compelling, but only under the assumptions that its advocates introduce. It is not a general requirement of rationality, or so we argue. We provide informal counterexamples. And we show that, when awareness grows, the boundary between one’s ‘old’ and ‘new’ epistemic commitments is blurred. Accordingly, there is no general notion of conservative change in this setting. (shrink)