Veritists hold that only truth has fundamental epistemic value. They are committed to explaining all other instances of epistemic goodness as somehow deriving their value through a relation to truth, and in order to do so they arguably need a non-instrumental relation of epistemic value derivation. As is currently common in epistemology, many veritists assume that the epistemic is an insulated evaluative domain: claims about what has epistemic value are independent of claims about what has (...) class='Hi'>value simpliciter. This paper argues that the insulation approach to epistemic value is incompatible with non-instrumental epistemic value derivation. Veritsts who want to avail themselves of this important explanatory resource should therefore abandon the insulation approach. (shrink)

Sennett (1999) and Pawl & Timpe (2009; 2013) attempt to show how we can praise heavenly agents for things they inevitably do in heaven by appealing to the notion of derivative freedom. Matheson (2017) has criticized this use of derivative freedom. In this essay I show why Matheson's argument is inconclusive but also how the basic point may be strengthened to undermine the use Sennett and Pawl & Timpe make of derivative freedom. I then show why Matheson (...) is mistaken to claim that the value of free choice depends on an agent retaining the ability to change their mind; in so doing I demonstrate that some choices which result in fixed outcomes - a feature of the choices leading to impeccability - can indeed be valuable even if they cannot be undone. (shrink)

This article presents a generic model for pricing financial derivatives subject to counterparty credit risk. Both unilateral and bilateral types of credit risks are considered. Our study shows that credit risk should be modeled as American style options in most cases, which require a backward induction valuation. To correct a common mistake in the literature, we emphasize that the market value of a defaultable derivative is actually a risky value rather than a risk-free value. Credit (...) class='Hi'>value adjustment (CVA) is also elaborated. A practical framework is developed for pricing defaultable derivatives and calculating their CVAs at a portfolio level. (shrink)

Value Sensitive Design (VSD) is an established method for integrating values into technical design. It has been applied to different technologies and, more recently, to artificial intelligence (AI). We argue that AI poses a number of challenges specific to VSD that require a somewhat modified VSD approach. Machine learning (ML), in particular, poses two challenges. First, humans may not understand how an AI system learns certain things. This requires paying attention to values such as transparency, explicability, and accountability. Second, (...) ML may lead to AI systems adapting in ways that ‘disembody’ the values embedded in them. To address this, we propose a threefold modified VSD approach: 1) integrating a known set of VSD principles (AI4SG) as design norms from which more specific design requirements can be derived; 2) distinguishing between values that are promoted and respected by the design to ensure outcomes that not only do no harm but also contribute to good; and 3) extending the VSD process to encompass the whole life cycle of an AI technology in order to monitor unintended value consequences and redesign as needed. We illustrate our VSD for AI approach with an example use case of a SARS-CoV-2 contact tracing app. (shrink)

Why does knowledge matter? Two answers have been influential in the recent literature. One is that it has value: knowledge is one of the goods. Another is that it plays a significant normative role: knowledge is the norm of action, belief, assertion, or the like. This paper discusses whether one can derive one of the claims from the other. That is, whether assuming the idea that knowledge has value — and some defensible general hypotheses about norms and values (...) —, we could derive the claim that it plays the alleged normative role. Or whether, assuming that knowledge does play that role — and some defensible general hypotheses —, we could derive the claim that it has value. It argues that the route from Value to Norms is unsuccessful. The main problem here is that the idea that knowledge has value does not seem enough to derive the idea that one should act on what one knows. It finds the route from Norms to Value more promising, though a complete path is missing. The main idea here is that knowledge is good because it is normatively required to do good things, such as believing the truth and acting in view of true propositions. But since not all normative conditions for doing something good is itself good, we still lack an explanation of why knowledge would be so. The paper finally suggests an alternative perspective, on which we do not try to derive the idea that knowledge has value from its normative role, but rather use its normative role to explain away the idea that it has value. (shrink)

It is tempting to think that all of normativity, such as our reasons for action, what we ought to do, and the attitudes that it is fitting for us to have, derives from what is valuable. But value-first approaches to normativity have fallen out of favour as the virtues of reasons- and fittingness-first approaches to normativity have become clear. On these views, value is not explanatorily prior to reasons and fit; rather the value of things is understood (...) in terms of the pro-attitudes it is fitting to have, or that we have reasons to have, towards these things. The value-first accounts of reasons and fit that have been proposed have been direct accounts of reasons and fit. On these views, the fittingness of an attitude is explained in terms of the value of having it or the value of the object of that attitude. This chapter details and surveys these problems, explaining which are yet to be overcome, and explaining which problems direct value-first accounts can overcome. This chapter then explores the prospects of an indirect value-first account of reasons and fit. It argues that it avoids the problems that direct value-first accounts face and may be as explanatorily powerful as fittingness- and reasons-first accounts of value and normativity more generally. (shrink)

In an article previously published in this Journal, Anthony Oyowe critically engages with my attempt to demonstrate how the human rights characteristic of South Africa’s Constitution can be grounded on a certain interpretation of Afro-communitarian values that are often associated with talk of ‘ubuntu’. Drawing on recurrent themes of human dignity and communal relationships in the sub-Saharan tradition, I have advanced a moral-philosophical principle that I argue entails and plausibly explains a wide array of individual rights to civil liberties, political (...) power, criminal procedures and economic resources. Oyowe’s most important criticism of my theory is in effect that it is caught in a dilemma: either the principle I articulate can account for human rights, in which case it does not count as communitarian, or it does count as the latter, but cannot account for the former. In this article, I reply to Oyowe, contending that he misinterprets key facets of my theory to the point of not yet engaging with its core strategy for deriving human rights from salient elements of ubuntu. I conclude that Oyowe is unjustified in claiming that there are ‘theoretical lapses’ that ‘cast enormous doubts’ on my project of deriving human rights from a basic moral principle with a recognizably sub-Saharan and communitarian pedigree. (shrink)

The reason for physics’ failure to find a final theory of the universe is examined. Problems identified are: the lack of unequivocal definitions for its fundamental elements (time, length, mass, electric charge, energy, work, matter-waves); the danger of relying too much on mathematics for solutions; especially as philosophical arguments conclude the universe cannot have a mathematical basis. It does not even need the concept of number to exist. Numbers and mathematics are human inventions arising from the human predilection for measurement. (...) Following Aristotle, a single fundamental cause is proposed to explore the efficacy of using pure non-mathematical philosophy to explain the universe, contrary to current quantum physical views. The cause is taken as Time, which is then defined, surprisingly leading automatically to a definition of a three-dimensional space answering the question into what can a universe be placed (space before space seems non-sensical). This enables the philosophical arguments to derive a universal rule giving clear-cut descriptions (definitions) of force (both gravitational and electromagnetic), motion, energy, and particles. The formation of atomic nuclei and atomic properties together with an unexpected role for neutrinos follow. In particular, a Popper-test can be prepared by introducing the concept of measurement to allow the philosophy arguments to be tested in another discipline - mathematics. The solution agrees with human physical observations to a remarkable degree of accuracy, automatically explaining and predicting values for Planck’s and the fine-structure constants. Although mathematical, it is included as confirming the efficacy of philosophy in attaining a final theory. (shrink)

This chapter outlines a new disentangling strategy for moral epistemology. It builds on the fundamental distinction between value-neutrality and value-independence as two separate aspects of methodological austerity introduced by Matthew Kramer. This type of conceptual analysis is then applied to two major challenges in moral epistemology: globalised scepticism and debate fragmentation. Both challenges arise from collapsing the fact/value dichotomy. They can be addressed by comprehensive disentangling that runs along both dimensions – value neutrality vs. value (...) non-neutrality and value independence vs. value dependence. The success of this strategy rests on two factors. The first is broadening the scope of disentangling to include theoretical-explanatory values on a par with distinctly ethical values. The second is differentiating between wider and narrower conceptualisations of what value neutrality requires with respect to contested matters. The objective is to pre-empt unjust theorising, a distinctive form of epistemic injustice that derives from the exclusive methodological focus on ethical evaluations at the expense of epistemic ones. When these methodological conditions are fulfilled, opponents should gain the confidence to treat each other as fellow inquirers engaged in the same project, that of reducing the scope of unhelpful disagreements. (shrink)

In the first half of the 20 th century, philosophers of science used to sustain that the correct theory acceptance in science derived from their conforming to certain rules. However, from the historicist and practical turn in the philosophy of science, the theory acceptance started to be analyzed based on values rather than on a priori established rules. In this article, I will present four paradigmatic positions on the role of values in science. The first position, articulated by Hugh Lacey, (...) defends a regulative ideal of 'impartiality' in the acceptance of scientific theories as established. The other positions convey arguments that seem to conflict with this ideal. I characterize them as 'blind spot argument', 'inductive risk argument' and 'trust-based acceptance argument'. Based on this analysis, I will defend two main theses. My first thesis is that the ideal of impartiality is compatible with the arguments just mentioned. My second thesis is that the defense of impartiality has the advantage of providing a support for the epistemic authority of properly established scientific knowledge. Following Lacey, I will argue that theories can only be accepted as established under specified domains of phenomena. However, theories are accepted for other purposes, for example, when they are adopted to develop research or when they are endorsed to inform the legitimacy of an action. In such cases of theory acceptance, impartiality is neither possible nor desirable, which requires the support of other ideals. (shrink)

The orientation of this paper is that there is no special science of "business ethics" any more than there is one of "medical ethics" or "legal ethics". While there may be issues that arise in medicine or law that require special treatment, the ways of relating to such issues are derived from a basic ethical stance. Once one has evolved such an ethical stance and thus has incorporated a fundamental mode of relating to her or his fellow human beings, the (...) "how" to deal with various ethical "issues" will follow as a natural consequence of one's ethical stance or modality. It is not necessary, in the formation of one's fundamental ethical stance to know if one is a utilitarian or a deontologist. It is doubtful whether Buddha knew what kind of ethics he was practising. If one conceives of ethics as something extrinsic to various disciplines and attempts to first practise a discipline and then to apply ethics to modify the results of that discipline it is entirely possible that conflicts will result between what is perceived of as the proper pursuit of that discipline and the ethical considerations. The argument of this paper is that it is more efficacious (in addition to being more true) to take ethical considerations into account in the construction of the definition of the discipline. This paper is devoted to showing that business and ethics are not two different and competing fields of interest (thus requiring a discipline of business ethics to be grafted onto the study of business enterprise), but that ethical concerns are part and parcel of the very concept of a business enterprise and the internal operation of a business organization. (shrink)

This paper critically examines Michael Zimmerman’s account of basic final value in The Nature of Intrinsic Value. Zimmerman’s account has several positive features. Unfortunately, as I argue, given one plausible assumption about value his account derives a contradiction. I argue that rejecting that assumption has several implausible results and that we should instead reject Zimmerman’s account. I then sketch an alternative account of basic final value, showing how it retains some of the positive features of Zimmerman’s (...) account while avoiding its pitfalls. (shrink)

Within the Thomistic moral tradition, the is-ought gap is regularly treated as identical to the fact-value gap, and these two dichotomies are also regularly treated as being identical to Aristotle and Aquinas’s distinction between the practical and speculative intellect. The question whether (and if so, how) practical (‘ought’) knowledge derives from speculative (‘is’) knowledge has driven some of the fiercest disputes among the schools of Thomistic natural lawyers. I intend to show that both of these identifications are wrong and (...) the debate has been misframed. The is-ought gap is not the fact-value gap, nor does the is-ought gap correspond to Aquinas’s distinction between the speculative and practical. This opens the possibility of a resolution--within the Thomistic school--to a debate that has, heretofore, proven particularly resistant of consensus. I close by offering a tentative account of precisely how synderesis gives us our first awareness of moral law from a prior speculative understanding. (shrink)

The essentially comparative conception of value entails that the value of a state of affairs does not depend solely upon features intrinsic to the state of affairs, but also upon extrinsic features, such as the set of feasible alternatives. It has been argued that this conception of value gives us reason to abandon the transitivity of the better than relation. This paper shows that the support for intransitivity derived from this conception of value is very limited. (...) On its most plausible interpretations, it merely provides a necessary, but not sufficient, condition for intransitivity. It is further argued that the essentially comparative conception of value appears to support a disjunctive conclusion: there is incommensurability of value or betterness is not transitive. Of these two alternatives, incommensurability is preferable, because it is far less threatening to our other axiological commitments. (shrink)

Many think that a specific aspect of phenomenal consciousness – valenced or affective experience – is essential to consciousness’s moral significance (valence sentientism). They hold that valenced experience is necessary for well-being, or moral status, or psychological intrinsic value (or all three). Some think that phenomenal consciousness generally is necessary for non-derivative moral significance (broad sentientism). Few think that consciousness is unnecessary for moral significance (non-necessitarianism). In this paper I consider the prospects for these views. I first consider (...) the prospects for valence sentientism in light of Vulcans, beings who are conscious but without affect or valence of any sort. I think Vulcans pressure us to accept broad sentientism. But I argue that a consideration of explanations for broad sentientism opens up possible explanations for non-necessitarianism about the moral significance of consciousness. That is, once one leans away from valence sentientism because of Vulcans, one should feel pressure to accept a view on which consciousness is not necessary for well-being, moral status, or psychological intrinsic value. (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)

Alvin Plantinga has famously responded to the logical problem of evil by appealing to the intrinsic value of significant free will. A problem, however, arises because traditional theists believe that both God and the redeemed who go to heaven cannot do wrong acts. This entails that both God and the redeemed in heaven lack significant freedom. If significant freedom is indeed valuable, then God and the redeemed in heaven would lack something intrinsically valuable. However, if significant freedom is not (...) intrinsically valuable, then Plantinga’s reply to the logical problem of evil fails. In this paper, we assess three contemporary solutions to the dilemma above. The first is the love solution, which proposes that significant freedom is necessary for agents to love, and loving others is intrinsically good. The second is the soul-making solution, which argues that significant freedom is necessary for self-developing one’s moral character, and having a self-developed moral character is intrinsically good. The third is the derivative free will solution, which argues that significant freedom is necessary for derivative free will in heaven, and derivative free will is intrinsically good. We raise problems against all three solutions and instead defend a fourth solution – the ultimate responsibility solution. That is, significant freedom is instrumentally valuable as it gives agents ultimate responsibility with regards to morally significant acts. Finally, we defend the ultimate responsibility solution against two major objections. (shrink)

Arguments concerning central issues of contemporary Medical Ethics often not only bear similarities, but also derive their sheer essence from notions which belong to the celebrated history of Ethics. Thus, argumentation pro euthanasia and assisted suicide which focus on the detainment of dignity and the ensuring of posthumous reputation on behalf of the moral agent is shown to echo stoic views on arête and the subordination of life to the primary human goal, namely the achievement of virtue. The progress made (...) in palliative care when seen alongside the — steadily increasing — requests for suicide, is indicative of the fact that, though pain now days can be effectively controlled, moral agents often consider the preservation of their life detrimental to the detainment of virtue or posthumous reputation. The stoic view is considered to justify elective death as a personal choice, but is deemed inadequate as well as inconsistent in the broader context of a coherent value theory. (shrink)

In this paper, I will discuss an objection to Buck-Passing accounts of value, such as Reasons Fundamentalism. Buck-Passing views take value to be derivative of or reducible to reasons. The objection is that since there can be value in possible worlds in which there are no reasons, value must not be ontologically derivative of reasons. Thus, BP is false. In this paper, I show that by accepting a dispositionalist revision, BP can allow such worlds (...) while maintaining that reasons are interestingly prior to value, and without having to adopt any controversial metaphysics. I show this by exploring the debate over the nature of dispositions, identifying the diverse resources BP can appeal to. The paper proceeds as follows. I first explain BP. Next, I discuss a few versions of the challenge, settling on what seems to be the strongest form. Following this, I show that on many accounts of dispositions, while we should accept that particular instances of dispositions are prior to their particular manifestations, we should also accept that there is a sense in which dispositions are dependent on their manifestations. This provides BP with resources to respond to the challenge: BP can accept a dispositional revision, without committing to a theory of dispositions. Finally, I will respond to two objections. The first is about whether there are dispositions with impossible manifestations, contrary to my thesis that dispositions depend on their manifestations. The second is about whether there could be value where it would be impossible for that value to give reasons. (shrink)

This paper outlines a new pluralistic theory of normative reasons for belief, welfarist pluralism, which aims to explain how there can be basic alethic/epistemic reasons for belief and basic pragmatic/non-alethic reasons for belief that can combine to determine what one ought to believe. The paper shows how this non-derivative first-order pluralism arises from a purely welfarist account of the foundations of theoretical normativity, thereby combining foundational pragmatism with non-derivative pluralism about normative reasons for belief. In addition, this paper (...) outlines how welfarist pluralism provides a new and potentialy attractive account of the value of truth (or its indicators), namely that the value of truth (or its indicators) is its direct contribution to individuals' personal good or wellbeing. (shrink)

This paper examines the debate as to whether something can have final value in virtue of its relational (i.e., non-intrinsic) properties, or, more briefly put, whether final value must be intrinsic. The paper adopts the perspective of the fitting-attitude analysis (FA analysis) of value, and argues that from this perspective, there is no ground for the requirement that things may have final value only in virtue of their intrinsic properties, but that there might be some grounds (...) for the alternate requirement that final value be grounded only in the essential properties of their bearers. First, the paper introduces the key elements of the FA analysis, and sets aside an obvious but unimportant way in which this analysis makes all final values relational. Second, it discusses some classical counterexamples to the view that final value must be intrinsic. Third, it discusses the relation between final, contributive, and signatory value. Fourth, it examines Zimmerman’s defense of the requirement that final value must be intrinsic on the grounds that final value cannot be derivative. And finally, it explores the alternative requirement that something may have final value in virtue of its essential properties. (shrink)

Most engineers Fwork within social structures governing and governed by a set of values that primarily emphasise economic concerns. The majority of innovations derive from these loci. Given the effects of these innovations on various communities, it is imperative that the values they embody are aligned with those societies. Like other transformative technologies, artificial intelligence systems can be designed by a single organisation but be diffused globally, demonstrating impacts over time. This paper argues that in order to design for this (...) broad stakeholder group, engineers must adopt a systems thinking approach that allows them to understand the sociotechnicity of artificial intelligence systems across sociocultural domains. It claims that value sensitive design, and envisioning cards in particular, provides a solid first step towards helping designers harmonise human values, understood across spatiotemporal boundaries, with economic values, rather than the former coming at the opportunity cost of the latter. (shrink)

This article presents a new model for valuing financial contracts subject to credit risk and collateralization. Examples include the valuation of a credit default swap (CDS) contract that is affected by the trilateral credit risk of the buyer, seller and reference entity. We show that default dependency has a significant impact on asset pricing. In fact, correlated default risk is one of the most pervasive threats in financial markets. We also show that a fully collateralized CDS is not equivalent to (...) a risk-free one. In other words, full collateralization cannot eliminate counterparty risk completely in the CDS market. (shrink)

The view that something's being good for a person depends on his capacity to care about it – sometimes called internalism about a person’s good – is here derived from the principle that 'ought' implies 'can'. In the course of this derivation, the limits of internalism are discussed, and a distinction is drawn between two senses of the phrase "a person's good".

In this commentary on Elpidorou‘s book, I first note a certain arbitrariness in his choice, for his purpose of showing the bright side of negative emotions, of boredom, frustration, and anticipation. Many other emotions carry negative valence and might be said to be useful in motivating us to avoid or escape them. I then focus on boredom, and consider four candidates for the role of its formal object. All four turn out to be problematic. I then consider the moral and (...) prudential value of boredom, and conclude that if boredom is to be attributed some sort of intrinsic value, it is more likely to derive it from its complex role in aesthetic experience. (shrink)

The primary aim of this paper is to argue that the value of understanding derives in part from a kind of subjective stability of belief that we call epistemic resilience. We think that this feature of understanding has been overlooked by recent work, and we think it’s especially important to the value of understanding for social cognitive agents such as us. We approach the concept of epistemic resilience via the idea of the experience of epistemic ownership and argue (...) that the former concept has Platonic pedigree. Contrary to longstanding exegetical tradition, we think that Plato solves the “Meno problem” with an appeal to the epistemic resilience characteristic of understanding, not the well-groundedness characteristic of canonical cases of propositional knowledge. Finally, we apply our discussion to the case of science outreach and the challenge of global warming skepticism and conclude with directions for future research. (shrink)

Sam Harris, in his book The Moral Landscape, argues that "science can determine human values." Against this view, I argue that while secular moral philosophy can certainly help us to determine our values, science must play a subservient role. To the extent that science can what we ought to do, it is only by providing us with empirical information, which can then be slotted into a chain of deductive reasoning. The premises of such reasoning, however, can in no way be (...) derived from the scientific method: they come, instead, from philosophy – and common sense. (shrink)

We address the most fundamental yet routinely ignored issue in economics today: that of distributive impact of the monetary system on the real economy. By re-examining the logical implications of token re-presentation of value and Irving Fisher’s theory of exchange, we argue that producers of value incur incidental expropriation of wealth associated with the deflationary effect that new value supply has on the purchasing power of money. In order to remedy the alleged inequity we propose a (...) class='Hi'>value-added negative tax (VANT) based on net individual contribution to the economic output, which is structured as a negative tax function geared to profits derived from eligible productive activities in consideration of their estimated deflationary impact. We show that an adequately optimised VANT can be non-inflationary and have zero net cost to the public. Furthermore, economic output stands to improve due to direct incentivisation of value creation, making the proposed scheme not only politically feasible but economically desirable. The proposal advances the principle of ‘fair money’, where all forms of economic value are attributed to their rightful owners prior to any positive taxation. (shrink)

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)

Capital Redefined presents a unique perspective on the nature of “capital,” departing from the prevailing reductionist accounts. Hosseini and Gills offer an expanded perspective on Marxian value theory by addressing its main limitations and building their own integrative value theory. They argue that the current understanding of “value” must be re-examined and liberated from its subservient ties to capital while acknowledging the ways in which capital appropriates value. This is achieved by differentiating between “fetish value” (...) created by capital and “true value” generated through various commons-based forms of coexistence. The authors propose a defetishization of value by rejecting the commonly accepted idea of its objectivity. They introduce their “commonist value theory,” which redefines capital as both the product and process of perverting the fundamental commoning causes of true value into sources of fetish value. Capital is theorized through a “modular” framework, where multiple intersecting processes constitute a comprehensive power structure, a “value regime,” representing an unprecedented degree of the domination of capital over life. Their theory reconciles two apparently incompatible views on the notion of value. One view encompasses all inputs involved in capitalist value production and conflates intrinsic and commodity values. The other warns against this conflation as it treats capital as an entity tightly associated only with commodity production and wage labor. The authors believe that establishing alternative forms of value creation based on normative principles of living in commons is crucial as an analytical base for criticizing existing power structures and economic systems. The book offers a theoretical foundation for transforming our life worlds toward “post-capitalist” futures. It appeals to scholars and students in various fields, such as political economy, capitalism, and post-capitalist studies, economic and political sociology, globalization, development studies, social ecology, and ecological philosophy. The Open Access version of this book, available at taylorfrancis com, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives (CC-BY-NC-ND) 4.0 license. (shrink)

This is chapter 5 of the book project _The true and the good: a new theory of theoretical reason_, in which I explore the claim that both alethic and pragmatic reasons for belief are basic, but that they share a pragmatic foundation in a pluralist theory of wellbeing in which being in a positive epistemic state is a non-derivative component of wellbeing. This chapter argues that all three of fittingness first, reasons first, and value first views are false. (...) It does so by showing that fittingness and reasons both have unalike variance conditions with respect to value, i.e. that sometimes the value of something can switch from good to bad or bad to good without there being any change in whether it is fitting to favour it or whether there are reason to favour it. This is a form of an argument from under-generation following on earlier work by Krister Bykvist and Andrew Reisner, respectively. It is also more tentatively that reasons cannot be analysed in terms of correctness. Because the the arguments in this paper concern the extensional adequacy of the various bi-conditionals linking fittingness, reasons, and value, they suffice for rejecting even modest versions of '-first' views that do not purport to provide analyses, but rather only sets of correctness conditions for, e.g., reasons and value in terms of fittingness, or any two in terms of the third. (Updated 10 May 2022). (shrink)

This paper addresses the field of economic measurements of the value of assets, carried out by the methods of independent expert evaluation. The mathematical principles of application, within a comparative methodical approach, of additive and multiplicative models for correcting the cost of single indicator of compared objects have been considered. The differences of mathematical basis of the compared models were analyzed. It has been shown that the ambiguity in the methodology of correction procedure requires studying the advantages and disadvantages (...) of known models, as well as the justification and elaboration of recommendations for their application. Possible forms of correction representation using several alternative units of measurement have been defined; formulas for their interconnection have been built. Analytic expressions have been derived that mathematically describe the algorithms for performing the evaluation correction procedure using various forms of correction representation. The influence of the correction execution model on the characteristics of uncertainty in the independent evaluation result has been analyzed. The scope of two possible types of correction introduction models has been determined. A specific numerical example was used to demonstrate the methodological advantages of using a multiplicative model when summarizing percentage corrections. The independence of the correction result on the sequence of correction introduction has been confirmed. It is proposed to use the selected measure of partial corrections as a criterion for the adequacy of the correction introduction model. It is proved that the result of the independent expert evaluation depends on the chosen model and does not depend on the sequence of correction introduction. The reported study results are important in terms of theory and practice since they make it possible to improve the accuracy and reliability of the result of independent expert evaluation. (shrink)

Discussions of diversity tend to paint a mixed picture of the practical and epistemic value of diversity. While there are expansive and detailed accounts of the value of cognitive diversity, explorations of identity diversity typically focus on its value as a source or cause of cognitive diversity. The resulting picture on which identity diversity only possesses a derivative practical and epistemic value is unsatisfactory and fails to account for some of its central epistemic benefits. In (...) response, I propose that collective virtue epistemology offers theoretical models that can further our understanding of the benefits of diversity. And I offer a case study to illustrate how this approach could be used to explore the logic of the identity diversity bonus. (shrink)

One of the most common criticisms one hears of the idea of granting a legitimate role for social values in theory choice in science is that it just doesn’t make sense to regard social preferences as relevant to the truth or to the way things are. “What is at issue,” wrote Susan Haack, is “whether it is possible to derive an ‘is’ from an ‘ought.’ ” One can see that this is not possible, she concludes, “as soon as one expresses (...) it plainly: that propositions about what states of affairs are desirable or deplorable could be evidence that things are, or are not, so” (Haack 1993a, 35, emphasis in original). The purpose of this chapter is not to determine whether this widespread view is correct, but rather to show that even if we grant it (which I do), we may still consistently believe that social values have a legitimate role in theory choice in science. I will defend this conclusion by outlining a view about social values and theory choice that is available to a Constructive Empiricist anti-realist, but not to a realist. (shrink)

This paper explores the essence of the World and the essence of Life/Consciousness. Then derives from they the highest principles of value judgment and a series of ethics, providing a theoretical basis for guiding our future actions. The essence of the World consists of three aspects: 1. Existence, 2. Not nothingness, 3.Difference/Change. The essence of Life/Consciousness includes four aspects: 1.Has the distinction of "self" and "non-self".2. Has the change of the "new self" and the "old self".3. Pursues to maintain (...) "self".4. Pursue turning "non-self" into "self". Life and consciousness are completely identical. The pursuit of "Difference/Change" is the principle of the World. Beauty and art originate from the essence of the World and Life/Consciousness. The highest principle of value judgment for Life/Consciousness actions is that they should contribute to the growth of "Difference/Change". Ethics are inherent in Life /Consciousness. Low-level Life/Consciousness species have inherent rights. In the end, I argue that all of Life/Consciousness is a whole, which is also the consciousness or will of the World. Through the cognition of Life/Consciousness, the World achieves self-cognition and finally self-expansion. (shrink)

The goal of this paper consists of developing a new (more physical and numerical in comparison with standard and non-standard analysis approaches) point of view on Calculus with functions assuming infinite and infinitesimal values. It uses recently introduced infinite and infinitesimal numbers being in accordance with the principle ‘The part is less than the whole’ observed in the physical world around us. These numbers have a strong practical advantage with respect to traditional approaches: they are representable at a new kind (...) of a computer – the Infinity Computer – able to work numerically with all of them. An introduction to the theory of physical and mathematical continuity and differentiation (including subdifferentials) for functions assuming finite, infinite, and infinitesimal values over finite, infinite, and infinitesimal domains is developed in the paper. This theory allows one to work with derivatives that can assume not only finite but infinite and infinitesimal values, as well. It is emphasized that the newly introduced notion of the physical continuity allows one to see the same mathematical object as a continuous or a discrete one, in dependence on the wish of the researcher, i.e., as it happens in the physical world where the same object can be viewed as a continuous or a discrete in dependence on the instrument of the observation used by the researcher. Connections between pure mathematical concepts and their computational realizations are continuously emphasized through the text. Numerous examples are given. (shrink)

In this article I argue for the thesis that Alexander's main argument, in Ethical Problems I, is an attempt to block the implication drawn by the Stoics and other ancient philosophers from the double potential of use exhibited by human life, a life that can be either well or badly lived. Alexander wants to resist the thought that this double potential of use allows the Stoics to infer that human life, in itself, or by its own nature, is neither good (...) nor bad. Furthermore, I shall argue that Alexander's main argument establishes that human life, despite exhibiting a double potential of use, is by its own nature or intrinsically good. Finally, given that this is not a conclusion that the Stoics are likely to accept, I shall also contend that the argument should be regarded as conducted for the most part in foro interno, as a way of persuading the Peripatetics themselves of the falsity of the Indifference Implication, precisely because of the risk that such an implication be derived from their own theoretical framework. (shrink)

Recently, mental strength education requires to change in a way that establishes a military value system suitable for a liberal democracy while facing the need to strengthen mental strength in response to unpredictable security situations. The key to fulfilling these twofold objectives lies in the fact that there is a positive correlation between the enhancement of a soldier’s democratic awareness and intangible force. Therefore, it is of great importance to emphasize the concept of ‘citizen in uniform’ as one of (...) the central military values. However, this concept has one problem before its use in military mental strength in which the orders of the military status and the orders of the civic seem heterogeneous and even conflicting. This study aims to dissolve the internal tension of this concept through a new philosophical interpretation of citizens in uniform, freedom, people and state, thereby providing the foundation for establishing for establishing new military values and enhancement of mental force. To this end, it examines the explanation of the current curriculum regarding these concepts first and diagnoses its several problems (II). The current curriculum presents a brief explanation of the compatibility of civil rights and military obligations but does not resolve the conflict between the two. A new understanding of them is possible by introducing Hegelian insights in Philosophy of Rights (III). From Hegel's point of view, freedom is not the mere absence of coercion but a capacity for self-determination. Freedom is difficult to realize wholly at the level of an isolated individual, and it calls for an ethical community to give it a specific form. A state that is the best entity in humanity is the supreme unit that defines individual freedom and identity. Then it naturally derives that national defense is one of the supreme missions directly related to the freedom and identity of its people. A re-description of the contents of the curriculum based on these insights can conceptually resolve the aforementioned problem and even strengthen its arguments (IV). The state and the people are in a more essential correlation than previously depicted, and liberal democratic values such as freedom, human rights and welfare are proved as constitutive of a state itself. The superiority of liberal democracy, which the current textbook attempts to prove, also becomes transparent. Finally, military duties do not conceptually conflict with civil freedom but are considered as a form of it. (shrink)

New algorithms for the numerical solution of Ordinary Differential Equations (ODEs) with initial condition are proposed. They are designed for work on a new kind of a supercomputer – the Infinity Computer, – that is able to deal numerically with finite, infinite and infinitesimal numbers. Due to this fact, the Infinity Computer allows one to calculate the exact derivatives of functions using infinitesimal values of the stepsize. As a consequence, the new methods described in this paper are able to work (...) with the exact values of the derivatives, instead of their approximations. (shrink)

This research will discuss the new destination of Toraja coffee as a tourism development strategy. Questions that will be answered is what is the attraction of Toraja coffee tourism as a new tourist destination. Methods of research conducted are field observation and interviews with coffee stakeholders as an informant and foreign tourists as respondents. The results of this study concluded that the appeal of Toraja coffee as a tourism destination is Toraja coffee has characteristic (taste) differently based on the planting (...) area Toraja coffee. There are 15 names of coffee products based on the region and the name of Toraja coffee products taken from the region. E.g. coffee Toraja Sapan, derived from the Sapan area, and coffee Sesean derived from the village of Sesean. Perception of foreign tourists to Toraja coffee is that the taste of Toraja coffee is different based on the height of the coffee planting area to be a tourism identity Toraja Agritourism. (shrink)

According to Veritism, true belief is the sole fundamental epistemic value. Epistemologists often take Veritism to entail that all other epistemic items can only have value by standing in certain instrumental relations—namely, by tending to produce a high ratio of true to false beliefs or by being products of sources with this tendency. Yet many value theorists outside epistemology deny that all derivative value is grounded in instrumental relations to fundamental value. Veritists, I believe, (...) can and should follow suit. After setting the stage in §1, I explain in §2 why Veritism should not take an Instrumentalist form. Instrumentalist Veritism faces a generalized version of the swamping problem. But this problem undermines Instrumentalism, not Veritism: granting Instrumentalism, similar problems arise for any economical epistemic axiology. I show in §3 how Veritism can take a less narrow form and solve the swamping problem. After answering some objections in §4, I consider in §5 what some would regard as a less radical alternative solution and argue that it either fails or collapses into mine. I close in §6 by taking stock and re-evaluating the overall prospects for Veritism, suggesting that it is a highly promising epistemic axiology when divorced from Instrumentalism. (shrink)

I maintain that intrinsic value is the fundamental concept of axiology. Many contemporary philosophers disagree; they say the proper object of value theory is final value. I examine three accounts of the nature of final value: the first claims that final value is non‐instrumental value; the second claims that final value is the value a thing has as an end; the third claims that final value is ultimate or non‐derivative (...) class='Hi'>value. In each case, I argue that the concept of final value described is either identical with the classical notion of intrinsic value or is not a plausible candidate for the primary concept of axiology. (shrink)

Several democratic theorists have recently sought to vindicate the ideal of equal political power (“political equality”) by tying it to the non-derivative value of egalitarian relationships. This chapter critically discusses such arguments. It clarifies what it takes to vindicate the ideal of political equality, and distinguishes different versions of the relational egalitarian argument for it. Some such arguments appeal to the example of a society without social status inequality (such as caste or class structures); others to personal relationships (...) among equals, like friendship. Each strategy faces problems. After discussing what social status consists in, the chapter argues that social status equality does not require an equal distribution of power, but only that unequal distributions are not justified on grounds incompatible with the citizens’ fundamental equal moral standing. By contrast, personal relationships among equals do require equal power; but establishing that their norms apply to our political community is challenging. (shrink)

Erik Wielenberg [2014] and Mark Murphy [2017], [2018] have defended a series of arguments for the conclusion that creatures are not good intrinsically. In response, I take two steps. First, I introduce a conception of intrinsic value that makes created intrinsic value unproblematic. Second, I respond to their arguments in turn. The first argument is from the sovereignty-aseity intuition and an analysis of intrinsicality that makes derivative good extrinsic. I challenge the analysis. The second comes from a (...) conception of perfection where God exhausts all possibilities for goodness. I challenge this conception. The third comes from the contingency of creation and the internal logic of intrinsic value. I challenge the assumption that connects the two. I then present an argument from reference magnetism that the only conception of God, God's perfections, and religious language that makes it plausible that the sentence "God is intrinsically good and creatures are not" is true involves a strongly univocalist position. A view that is either unstatable or places strong demands on our conception of God, God's perfections and religious language thereby loses plausibility. (shrink)

John Broome has argued that value incommensurability is vagueness, by appeal to a controversial about comparative indeterminacy. I offer a new counterexample to the collapsing principle. That principle allows us to derive an outright contradiction from the claim that some object is a borderline case of some predicate. But if there are no borderline cases, then the principle is empty. The collapsing principle is either false or empty.

We might suppose it is not only instrumentally valuable for beliefs to be true, but that it is intrinsically valuable – truth makes a non-derivative, positive contribution to a belief's overall value. Some intrinsic goods are better than others, though, and this article considers the question of how good truth is, compared to other intrinsic goods. I argue that truth is the worst of all intrinsic goods; every other intrinsic good is better than it. I also suggest the (...) best explanation for truth's inferiority is that it is not really an intrinsic good at all. It is intrinsically neutral. (shrink)

In this paper, multi attribute decision making problem based on grey relational analysis in neutrosophic cubic set environment is investigated. In the decision making situation, the attribute weights are considered as single valued neutrosophic sets. The neutrosophic weights are converted into crisp weights. Both positve and negative GRA coefficients, and weighted GRA coefficients are determined. Hamming distances for weighted GRA coefficients and standard (ideal) GRA coefficients are determined. The relative closeness coefficients are derived in order to rank the alternatives. The (...) relative closeness coefficients are designed in ascending order. Finally, a numerical example is solved to demonstrate the applicability of the proposed approach. (shrink)

This paper presents a Least Square Monte Carlo approach for accurately calculating credit value adjustment (CVA). In contrast to previous studies, the model relies on the probability distribution of a default time/jump rather than the default time itself, as the default time is usually inaccessible. As such, the model can achieve a high order of accuracy with a relatively easy implementation. We find that the valuation of a defaultable derivative is normally determined via backward induction when their payoffs (...) could be positive or negative. Moreover, the model can naturally capture wrong or right way risk. (shrink)