This paper distinguishes between five different approaches to social discount rates in climate change economics, criticizes two of these, and explains how the other three are to some degree mutually compatible. It aims to shed some new light on a longstanding debate in climate change economics between so-called “descriptivists” and “prescriptivists” about social discounting. The ultimate goal is to offer a sketch of the conceptual landscape that makes visible some important facets of the debate that very often go unacknowledged.

This article is a critical survey of the debate over the value of the social discount rate, with a particular focus on climate change. The ma- jority of the material surveyed is from the economics rather than from the philosophy literature, but the emphasis of the survey itself is on founda- tions in ethical and other normative theory rather than highly technical details. I begin by locating the standard approach to discounting within the overall landscape of ethical theory, (...) and explaining the assumptions and simplifications that are needed in order to arrive at the model that is standard in the discounting literature. The article then covers the general theory of the Ramsey equation and its relationship to observed interest rates, arguments for and against a positive rate of pure time preference, the consumption elasticity of utility, and the effect of various sorts of uncertainty on the discount rate. Finally, it turns specifically to the ap- plication of this debate to the case of climate change, focussing on the recent controversy over the low discount rate used in the Stern Review of the Economics of Climate Change. (shrink)

Temporal discounting is a technical operation in climate change economics. When discount rates are positive, economic evaluation treats future benefits as less important than equivalent present benefits. This chapter explains and critically evaluates four different reasons economists have given for tying discount rates to the interest rates we observe in real-world markets. I suggest that while philosophers have correctly criticized three of these reasons, their criticisms of the fourth miss the mark. This is because philosophers have not taken (...) heed of the distinct analytical framework in which the fourth reason arises. (shrink)

Utility discounting in intertemporal economic modelling has been viewed as problematic, both for descriptive and normative reasons. However, positive utility discount rates can be defended normatively; in particular, it is rational for future utility to be discounted to take into account model-independent outcomes when decision-making under risk. The resultant values will tend to be smaller than descriptive rates under most probability assignments. This also allows us to address some objections that intertemporal considerations will be overdemanding. A principle for utility (...) discount rates is suggested which is rooted in probability discounting. Utility discounting is defended against objections from Parfit (1984) and Broome (2005); Broome (2012). A sample utility discount rate is estimated. [Open access]. (shrink)

In carrying out cost-benefit or cost-effective analysis, a discount rate should be applied to some kinds of future benefits and costs. It is controversial, though, whether future health is in this class. I argue that one of the standard arguments for discounting (from diminishing marginal returns) is inapplicable to the case of health, while another (favouring a pure rate of time preference) is unsound in any case. However, there are two other reasons that might support a positive (...) discount rate for future health: one relating to uncertainty, and the other relating to the instrumental benefits of improved health. While the latter considerations could be modelled via a discount rate, they could alternatively be modelled more explicitly, in other ways; I briefly discuss which modelling method is preferable. Finally, I argue against the common claims that failing to discount future health would lead to paradox, and/or to inconsistency with the way future cash flows are treated. (shrink)

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

The social cost of carbon (SCC) is a central concept in climate change economics. This chapter explains the SCC and investigates it philosophically. As is widely acknowledged, any SCC calculation requires the analyst to make choices about the infamous topic of discount rates. But to understand the nature and role of discounting, one must understand how that concept—and indeed the SCC concept itself—is yoked to the concept of a value function, whose job is to take ways the world could (...) be across indefinite timespans and to rank them from better to worse. A great deal, therefore, turns on the details of the value function and on just what is meant by “better” and “worse.” This chapter seeks to explicate these and related issues, and then to situate them within the evolving landscape of federal climate policy in the United States. (shrink)

Several areas of welfare economics seek to evaluate states of affairs as a function of interpersonally comparable individual utilities. The aim is to map each state of affairs onto a vector of individual utilities, and then to produce an ordering of these vectors that can be represented by a mathematical function assigning a real number to each. When this approach is used in intertemporal contexts, a central theoretical question concerns the evaluative weight to be applied to utility coming at different (...) times. This question concerns the rate of pure time preference, which is one key determinant of the social discount rate. This article argues that the standard philosophical account of pure time preference is mistaken, because it ascribes to economists a methodological commitment they need not, and often do not, accept. This in turn undercuts the most common philosophical objection to pure time preference, which traces at least to Rawls’s A Theory of Justice. The article then evaluates three further objections to pure time preference, concluding that it might still be defensible under certain circumstances. The article closes by articulating a final argument that is suggested by the “Social, Economic and Ethical Concepts and Methods” chapter of the most recent Intergovernmental Panel on Climate Change report. If this further argument is sound, it would constitute a decisive objection to pure time preference as it currently figures in much intertemporal welfare economics. (shrink)

En Electromecánicas IV, – Despliegue y activación de un espacio-tiempo barroco, Mónica Salinero socióloga y Renzo Filinich artista, se sumergen en el trabajo de análisis de la obra de Raúl Díaz, “Electromecánicas IV, poniendo en valor la diferencia conceptual y la diversidad del universo latinoamericano como espacio de creación situado. Inspirados en las teorías de Bolivar Echevarria, discuten la complejidad simbólica que rodea a esta experiencia estética, deteniéndose en los valores y funciones que se encuentran dentro del espectro cultural andino (...) que la contiene. El relato persigue desentrañar el armazón de pensamiento que alumbra el proceso de creación, cuando la puesta en marcha de dispositivos obsoletos, se vuelve metáfora de intervención local, sobre una reciclada y reconvertida tradición occidental, que representa la idea de Modernidad barroca. (shrink)

When disability-adjusted life years are used to measure the burden of disease on a population in a time interval, they can be calculated in several different ways: from an incidence, pure prevalence, or hybrid perspective. I show that these calculation methods are not equivalent and discuss some of the formal difficulties each method faces. I show that if we don’t discount the value of future health, there is a sense in which the choice of calculation method is a mere (...) question of accounting. Such questions can be important, but they don’t raise deep theoretical concerns. If we do discount, however, choice of calculation method can change the relative burden attributed to different conditions over time. I conclude by recommending that studies involving disability-adjusted life years be explicit in noting what calculation method is being employed and in explaining why that calculation method has been chosen. (shrink)

Economic models describe individuals in terms of underlying characteristics, such as taste for some good, sympathy level for another player, time discount rate, risk attitude, and so on. In real life, such characteristics change through experiences: taste for Mozart changes through listening to it, sympathy for another player through observing his moves, and so on. Models typically ignore change, not just for simplicity but also because it is unclear how to incorporate change. I introduce a general axiomatic framework (...) for defining, analysing and comparing rival models of change. I show that seemingly basic postulates on modelling change together have strong implications, like irrelevance of the order in which someone has his experiences and ‘linearity’ of change. This is a step towards placing the modelling of change on solid axiomatic grounds and enabling non-arbitrary incorporation of change into economic models. (shrink)

Intertemporal choice is the study of how people make choices about what and how much to do at various points in time, when choices at one time influence the possibilities available at other points in time. These choices are influenced by the relative value people assign to two or more payoffs at different points in time. Most choices require decision-makers to trade off costs and benefits at different points in time. These decisions may be about savings, work effort, education, nutrition, (...) exercise, health care and so forth. Since early in the twentieth century, economists have analyzed intertemporal decisions using the discounted utility model, which assumes that people evaluate the pleasures and pains resulting from a decision in much the same way that financial markets evaluate losses and gains, exponentially 'discounting' the value of outcomes according to how delayed they are in time. Discounted utility has been used to describe how people actually make intertemporal choices and it has been used as a tool for public policy. Policy decisions about how much to spend on research and development, health and education all depend on the discount rate used to analyze the decision. (shrink)

The stronger the level of economic integration between countries, the greater the need to study the formation patterns of the stock market reaction to the financial information signals. This concerns the Ukrainian stock market, which is now in its infancy, and which reaction to financial information signals is sometimes ambiguous. The research aims to identify the formation patterns of return and volatility indicators of the Ukrainian stock market reaction to the US financial information signals. To assess the direct nature of (...) US financial information signals effect on the PFTS stock index, the GARCH econometric modeling toolkit was applied. The research information base is the PFTS stock index and the Federal Reserve System financial information signals at the discount rate for 2000–2019. The fetch is divided into intervals corresponded to the ascent and decline phases of the financial cycle. It was found that an unforeseen increase in the discount rate at the financial cycle decline phase by 25 basis points decreases the PFTS stock index return, on average by 2.9%. Besides, the hypothesis about the general change stabilizing effect in the discount rate on the Ukrainian stock market volatility at the financial cycle growth phase was confirmed. Nevertheless, for investors, the most essential is the regulator’s monetary signals in the discount rate at the financial cycle decline phases rather than at the ascent phases because there is a more significant increase in the volatility level. (shrink)

Climate change policy decisions are inescapably intertwined with future generations. Even if all carbon dioxide emissions were to be stopped today, most aspects of climate change would persist for hundreds of years, thus inevitably raising questions of intergenerational justice and sustainability. -/- The chapter begins with a short overview of discount rate debate in climate economics, followed by the observation that discounting implicitly makes the assumption that natural capital is always substitutable with man-made capital. The chapter explains why (...) non-substitutability matters if we are to take intergenerational justice seriously and invest aptly in mitigation. Non-substitutability simply implies that there are some forms of capital that cannot be substituted by another, and so consumption of one cannot be compensated with additional stocks of the other. The non-substitutability of critical natural capital can be defended without empirical data about preferences or the need to view the environment as a superior good, and the argument is presented through the language of keeping options open. -/- Those alive today make decisions about what natural capital to use and what to save for future. These choices are often represented as different points in a continuum of sustainability: weak sustainability is associated with a high degree of substitutability and therefore a lot of flexibility over what capital to consume, whereas strong sustainability is more stringent on substitutability. While it may be that in economical understanding weak and strong sustainability collapse into one another, philosophically the emphasis is slightly different. The chapter discusses how normative sustainability can be supported without ignoring opportunity costs and trade-offs. (shrink)

Eric Posner’s signaling theory of social norms holds that individuals adopt social norms in order to signal that they have a low discount rate , and are therefore reliable long-term cooperative partners. This paper radically expands Posner’s theory by incorporating internalization into his model . I do this by tethering Posner’s theory to an evolutionary model. I argue that internalization is an adaptive quality that enhances the individual’s ability to play Posner’s signaling game and was thus selected for. (...) The idea that internalization is evolutionarily conditioned is not new; however, linking this to Posner’s theory of discount rate signals is, and doing so offers tremendous explanatory potential.Part I identifies the limitations of Posner’s purely rational choice approach, argues for the necessity of including internalization, and then proposes a model that does so – what I call the Expanded Signaling Model of Norms . Part II examines the problems that arise when we embrace such a model. How this model answers some key criticisms plaguing sociobiology is also briefly explored. Part III then examines existing criticisms of Posner’s theory, demonstrating how the Expanded Signaling Model clearly resolves these issues. The paper concludes that incorporating internalization into Posner’s signaling model greatly broadens the explanatory reach of Posner’s theory, providing a measure of clarity and predictability regarding how and why norms are internalized – an important insight, as these beliefs form the normative underpinning to law. (shrink)

Listening effort helps explain why people who are hard of hearing are prone to fatigue and social withdrawal. However, a one-factor model that cites only effort due to hardness of hearing is insufficient as there are many who lead happy lives despite their disability. This paper explores other contributory factors, in particular motivational arousal and pleasure. The theory of rational motivational arousal predicts that some people forego listening comprehension because they believe it to be impossible and hence worth no effort (...) at all. This is problematic. Why should the listening task be rated this way, given the availability of aids that reduce its difficulty? Two additional factors narrow the explanatory gap. First, we separate the listening task from the benefit derived as a consequence. The latter is temporally more distant, and is discounted as a result. The second factor is displeasure attributed to the listening task, which increases listening cost. Many who are hard of hearing enjoy social interaction. In such cases, the actual activity of listening is a benefit, not a cost. These people also reap the benefits of listening, but do not have to balance these against the displeasure of the task. It is suggested that if motivational harmony can be induced by training in somebody who is hard of hearing, then the obstacle to motivational arousal would be removed. This suggests a modified goal for health care professionals. Don’t just teach those who are hard of hearing how to use hearing assistance devices. Teach them how to do so with pleasure and enjoyment . (shrink)

The purpose of the research is to study the feasibility of using the combined modeling method in evaluation of business value. Modern approaches and methods of evaluating business value and the possibilities of combining them are explored. The peculiarities of the methodology of evaluating the business value by methods of Gordon Growth Model and Exit Multiple are disclosed. During the research the fair value of Luxoft company and the reasons for its deviation from the cost of sale are found. Luxoft’s (...) business value forecast is calculated by 2023. Recommendations for further development of the field of knowledge of modern business analyst are given. (shrink)

This paper defends the claim that mere temporal proximity always and without exception strengthens certain moral duties, including the duty to save – call this view Robust Temporalism. Although almost all other moral philosophers dismiss Robust Temporalism out of hand, I argue that it is prima facie intuitively plausible, and that it is analogous to a view about special obligations that many philosophers already accept. I also defend Robust Temporalism against several common objections, and I highlight its relevance to a (...) number of practical policy debates, including longtermism. My conclusion is that Robust Temporalism is a moral live option, that deserves to be taken much more seriously in the future. (shrink)

The desirable gambles framework offers the most comprehensive foundations for the theory of lower pre- visions, which in turn affords the most general ac- count of imprecise probabilities. Nevertheless, for all its generality, the theory of lower previsions rests on the notion of linear utility. This commitment to linearity is clearest in the coherence axioms for sets of desirable gambles. This paper considers two routes to relaxing this commitment. The first preserves the additive structure of the desirable gambles framework and (...) the machinery for coherent inference but detaches the interpretation of desirability from the multiplicative scale invariance axiom. The second strays from the additive combination axiom to accommodate repeated gambles that return rewards by a non-stationary processes that is not necessarily additive. Unlike the first approach, which is a conservative amendment to the desirable gambles framework, the second is a rad- ical departure. Yet, common to both is a method for describing rewards called discounted utility. (shrink)

Many population axiologies avoid the Repugnant Conclusion by endorsing Superiority: some number of great lives is better than any number of mediocre lives. But as Nebel shows, RC follows from the Intrapersonal Repugnant Conclusion: a guaranteed mediocre life is better than a sufficiently small probability of a great life. This result is concerning because IRC is plausible. Recently, Kosonen has argued that IRC can be true while RC is false if small probabilities are discounted to zero. This article details the (...) unique problems created by combining Superiority with discounting. The resultant view, Superiority Discounting, avoids the Repugnant Conclusion only at the cost of the Preposterous Conclusion: near-certain hell for arbitrarily many people is better than near-certain heaven for arbitrarily many people. (shrink)

The best justification of time-discounting is roughly that it is rational to care less about your more distant future because there is less of you around to have it. I argue that the standard version of this argument, which treats both psychological continuity and psychological connectedness as reasons to care about your future, can only rationalize an irrational—because exploitable—form of future discounting.

Future-biased individuals systematically prefer pleasures to be in the future and pains to be in the past. Empirical research shows that negative future-bias is robust: people prefer more past pain to less future pain. Is positive future-bias robust or fragile? Do people only prefer pleasures to be located in the future, compared to the past, when those pleasures are of equal value, or do they continue to prefer that pleasures be located in the future even when past pleasures outweigh future (...) ones? Some arguments against the rationality of future-bias require positive future-bias to be robust, while others require it to be fragile. We empirically investigate and show that positive future-bias is robust. (shrink)

Economic policy evaluations require social welfare functions for variable-size populations. Two important candidates are critical-level generalized utilitarianism (CLGU) and rank-discounted critical-level generalized utilitarianism, which was recently characterized by Asheim and Zuber (2014) (AZ). AZ introduce a novel axiom, existence of egalitarian equivalence (EEE). First, we show that, under some uncontroversial criteria for a plausible social welfare relation, EEE suffices to rule out the Repugnant Conclusion of population ethics (without AZ’s other novel axioms). Second, we provide a new characterization of CLGU: (...) AZ’s set of axioms is equivalent to CLGU when EEE is replaced by the axiom same-number independence. (shrink)

This paper challenges the conventional wisdom dominating the social sciences and philosophy regarding temporal discounting, the practice of discounting the value of future utility when making decisions. Although there are sharp disagreements about temporal discounting, a kind of standard model has arisen, one that begins with a normative standard about how we should make intertemporal comparisons of utility. This standard demands that in so far as one is rational one discounts utilities at future times with an exponential discount function. (...) Tracing the justification for this standard through economics, philosophy and psychology, I’ll make what I believe is the best case one can for it, showing how a non-arbitrariness assumption and a dominance argument together imply that discounting ought to be exponential. Ultimately, however, I don’t find the case compelling. Non-exponential temporal discounting is often rational. If this is correct, Instead of trying to ‘fix’ non-exponential discounting because it is irrational and associated with negative life outcomes, we might instead focus attention on why the conditions obtain that make such discounting rational. (shrink)

During multiple testing, researchers often adjust their alpha level to control the familywise error rate for a statistical inference about a joint union alternative hypothesis (e.g., “H1,1 or H1,2”). However, in some cases, they do not make this inference. Instead, they make separate inferences about each of the individual hypotheses that comprise the joint hypothesis (e.g., H1,1 and H1,2). For example, a researcher might use a Bonferroni correction to adjust their alpha level from the conventional level of 0.050 to (...) 0.025 when testing H1,1 and H1,2, find a significant result for H1,1 (p < 0.025) and not for H1,2 (p > .0.025), and so claim support for H1,1 and not for H1,2. However, these separate individual inferences do not require an alpha adjustment. Only a statistical inference about the union alternative hypothesis “H1,1 or H1,2” requires an alpha adjustment because it is based on “at least one” significant result among the two tests, and so it refers to the familywise error rate. Hence, an inconsistent correction occurs when a researcher corrects their alpha level during multiple testing but does not make an inference about a union alternative hypothesis. In the present article, I discuss this inconsistent correction problem, including its reduction in statistical power for tests of individual hypotheses and its potential causes vis-à-vis error rate confusions and the alpha adjustment ritual. I also provide three illustrations of inconsistent corrections from recent psychology studies. I conclude that inconsistent corrections represent a symptom of statisticism, and I call for a more nuanced inference-based approach to multiple testing corrections. (shrink)

Abstract: The aim behind analyzing the Goodreads dataset is to get a fair idea about the relationships between the multiple attributes a book might have, such as: the aggregate rating of each book, the trend of the authors over the years and books with numerous languages. With over a hundred thousand ratings, there are books which just tend to become popular as each day seems to pass. We proposed an Artificial Neural Network (ANN) model for predicting the overall rating of (...) books. The prediction is based on these features (bookID, title, authors, isbn, language_code, isbn13, # num_pages, ratings_count, text_reviews_count), which were used as input variables and (average_rating) as output variable for our ANN model. Our model were created, trained, and validated using data set in JNN environment, which its title is “Goodreads-books”. Model evaluation showed that the ANN model is able to predict correctly 99.78% of the validation samples. (shrink)

Most of our best scientific descriptions of the world employ rates of change of some continuous quantity with respect to some other continuous quantity. For instance, in classical physics we arrive at a particle’s velocity by taking the time-derivative of its position, and we arrive at a particle’s acceleration by taking the time-derivative of its velocity. Because rates of change are defined in terms of other continuous quantities, most think that facts about some rate of change obtain in virtue (...) of facts about those other continuous quantities. For example, on this view facts about a particle’s velocity at a time obtain in virtue of facts about how that particle’s position is changing at that time. In this paper we raise a puzzle for this orthodox reductionist account of rate of change quantities and evaluate some possible replies. We don’t decisively come down in favour of one reply over the others, though we say some things to support taking our puzzle to cast doubt on the standard view that spacetime is continuous. (shrink)

Abstract: Online book review platforms generate vast user data, making accurate rating prediction crucial for personalized recommendations. This research explores neural networks as simple models for predicting book ratings without complex algorithms. Our novel approach uses neural networks to predict ratings solely from user-book interactions, eliminating manual feature engineering. The model processes data, learns patterns, and predicts ratings. We discuss data preprocessing, neural network design, and training techniques. Real-world data experiments show the model's effectiveness, surpassing traditional methods. This research can (...) enhance user experience, book catalog organization, and aid publishers, simplifying recommendation processes and providing tailored suggestions based on user preferences. (shrink)

This chapter introduces several distinctions relevant to what is called the “discounting problem”, since the issue is how (future) costs and benefits are discounted to make them comparable in present terms. The author defends the claim that there are good reasons to adopt Ramsey-style discounting in the context of climate change: the Ramsey rule is robust, flexible, and well-understood. An important distinction involved in discounting—“descriptivism” and “prescriptivism”—is discussed. It is argued that, even if we adopt prescriptivism, and accept that this (...) means there is need for moral experts in parameter assignments, there is a significant issue. The type of moral expertise required for the discounting problem will not involve knowledge of moral theory—thus making moral philosophy unhelpful in terms of making particular parameter assignments, despite these being substantive moral judgments. (shrink)

When probability discounting (or probability weighting), one multiplies the value of an outcome by one's subjective probability that the outcome will obtain in decision-making. The broader import of defending probability discounting is to help justify cost-benefit analyses in contexts such as climate change. This chapter defends probability discounting under risk both negatively, from arguments by Simon Caney (2008, 2009), and with a new positive argument. First, in responding to Caney, I argue that small costs and benefits need to be evaluated, (...) and that viewing practices at the social level is too coarse-grained. Second, I argue for probability discounting using a distinction between causal responsibility and moral responsibility. Moral responsibility can be cashed out in terms of blameworthiness and praiseworthiness, while causal responsibility obtains in full for any effect which is part of a causal chain linked to one's act. With this distinction in hand, unlike causal responsibility, moral responsibility can be seen as coming in degrees. My argument is, given that we can limit our deliberation and consideration to that which we are morally responsible for and that our moral responsibility for outcomes is limited by our subjective probabilities, our subjective probabilities can ground probability discounting. (shrink)

In "A Mathematical Theory of Saving", Ramsey writes, “it is assumed that we do not discount later enjoyments in comparison with earlier ones, a practice which is ethically indefensible and arises merely from the weakness of imagination” (Ramsey 543). Ramsey doesn’t tell us how discounting the enjoyment of future lives is ethically indefensible. Discounting is, however, very prevalent in the common economist’s work. Thus, Ramsey’s claim might be surprising. In this paper, then, I do two things. Firstly, I explain (...) why not discounting the enjoyment of future lives is a much-needed premise for Ramsey’s theory of saving to have normative weight and practical import. Secondly, I argue that accepting the premise of not discounting the enjoyment of future lives leads us to have decision paralysis in certain situations. This shows us, at the very least, that discounting can aid us in making the correct choice and thus not “ethically indefensible.” -/- Written in 2023. (shrink)

The inflation of Type I error rates is thought to be one of the causes of the replication crisis. Questionable research practices such as p-hacking are thought to inflate Type I error rates above their nominal level, leading to unexpectedly high levels of false positives in the literature and, consequently, unexpectedly low replication rates. In this article, I offer an alternative view. I argue that questionable and other research practices do not usually inflate relevant Type I error rates. I begin (...) with an introduction to Type I error rates that distinguishes them from theoretical errors. I then illustrate my argument with respect to model misspecification, multiple testing, selective inference, forking paths, exploratory analyses, p-hacking, optional stopping, double dipping, and HARKing. In each case, I demonstrate that relevant Type I error rates are not usually inflated above their nominal level, and in the rare cases that they are, the inflation is easily identified and resolved. I conclude that the replication crisis may be explained, at least in part, by researchers’ misinterpretation of statistical errors and their underestimation of theoretical errors. (shrink)

I find much to like in Craig Callender's [2022] arguments for the rational permissibility of non-exponential time discounting when these arguments are viewed in a conditional form: viz., if one thinks that time discounting is rationally permissible, as the social scientist does, then one should think that non-exponential time discounting is too. However, time neutralists believe that time discounting is rationally impermissible, and thus they take zero time discounting to be the normative standard. The time neutralist rejects time discounting because (...) they think it is rationally impermissible to prefer to live a worse life in expectation because of arbitrariness. Callender’s attack on the time-neutralist position is the following: the time-neutralist’s non-arbitrariness intuition assumes the existence of nonexistent ‘pure’ time preferences. In response, I aim to clarify the time-neutralist position and show that the non-arbitrariness argument does not rely on the existence of pure time preferences. Instead, the debate between time neutralism and permissivism about time discounting boils down to a methodological question: can we ever criticize the content of preferences? If so, we should embrace time neutralism. (shrink)

Fixed-rate versions of rule-consequentialism and rule-utilitarianism evaluate rules in terms of the expected net value of one particular level of social acceptance, but one far enough below 100% social acceptance to make salient the complexities created by partial compliance. Variable-rate versions of rule-consequentialism and rule-utilitarianism instead evaluate rules in terms of their expected net value at all different levels of social acceptance. Brad Hooker has advocated a fixed-rate version. Michael Ridge has argued that the variable-rate version (...) is better. The debate continues here. Of particular interest is the difference between the implications of Hooker's and Ridge's rules about doing good for others. (shrink)

Molecular clocks based upon amino acid sequences in proteins have played a major role in the clarification of evolutionary phylogenies. Creationist criticisms of these methods sometimes rely upon data that might initially seem to be paradoxical. For example, human cytochrome c differs from that of an alligator by 13 amino acids but differs by 14 amino acids from a much more closely related primate, Otolemur garnettii. The apparent anomaly is resolved by taking into consideration the variable substitution rate of (...) cytochrome c, particularly among primates. This paper traces some of the history of extensive research into the topic of rate heterogeneity in cytochrome c including data from cytochrome c pseudogenes. (shrink)

Uncertainty plays an important role in The General Theory, particularly in the theory of interest rates. Keynes did not provide a theory of uncertainty, but he did make some enlightening remarks about the direction he thought such a theory should take. I argue that some modern innovations in the theory of probability allow us to build a theory which captures these Keynesian insights. If this is the right theory, however, uncertainty cannot carry its weight in Keynes’s arguments. This does not (...) mean that the conclusions of these arguments are necessarily mistaken; in their best formulation they may succeed with merely an appeal to risk. (shrink)

Ensemble perception—the encoding of objects by their group properties—is known to be resistant to outlier noise. However, this resistance is somewhat paradoxical: how can the visual system determine which stimuli are outliers without already having derived statistical properties of the ensemble? A simple solution would be that ensemble perception is not a simple, one-step process; instead, outliers are detected through iterative computations that identify items with high deviance from the mean and reduce their weight in the representation over time. Here (...) we tested this hypothesis. In Experiment 1, we found evidence that outliers are discounted from mean orientation judgments, extending previous results from ensemble face perception. In Experiment 2, we tested the timing of outlier rejection by having participants perform speeded judgments of sets with or without outliers. We observed significant increases in reaction time (RT) when outliers were present, but a decrease compared to no-outlier sets of matched range suggesting that range alone did not drive RTs. In Experiment 3 we tested the timing by which outlier noise reduces over time. We presented sets for variable exposure durations and found that noise decreases linearly over time. Altogether these results suggest that ensemble representations are optimized through iterative computations aimed at reducing noise. The finding that ensemble perception is an iterative process provides a useful framework for understanding contextual effects on ensemble perception. (shrink)

In 2011, Hibbard suggested an intelligence measure for agents who compete in an adversarial sequence prediction game. We argue that Hibbard’s idea should actually be considered as two separate ideas: first, that the intelligence of such agents can be measured based on the growth rates of the runtimes of the competitors that they defeat; and second, one specific (somewhat arbitrary) method for measuring said growth rates. Whereas Hibbard’s intelligence measure is based on the latter growth-rate-measuring method, we survey other (...) methods for measuring function growth rates, and exhibit the resulting Hibbard-like intelligence measures and taxonomies. Of particular interest, we obtain intelligence taxonomies based on Big-O and Big-Theta notation systems, which taxonomies are novel in that they challenge conventional notions of what an intelligence measure should look like. We discuss how intelligence measurement of sequence predictors can indirectly serve as intelligence measurement for agents with Artificial General Intelligence (AGIs). (shrink)

It is not yet clear which response behavior requires self-regulatory effort in the moral dilemma task. Previous research has proposed that utilitarian responses require cognitive control, but subsequent studies have found inconsistencies with the empirical predictions of that hypothesis. In this paper we treat participants’ sensitivity to utilitarian gradients as a measure of performance. We confronted participants (N = 82) with a set of five dilemmas evoking a gradient of mean utilitarian responses in a 4-point scale and collected data on (...) heart rate variability and on utilitarian responses. We found positive correlations between tonic and phasic HRV and sensitivity to the utilitarian gradient in the high tonic group, but not in the low tonic group. Moreover, the low tonic group misplaced a scenario with a selfish incentive at the high end of the gradient. Results suggest that performance is represented by sensitivity correlated with HRV and accompanied with a reasonable placement of individual scenarios within the gradient. (shrink)

The aim behind analyzing the Goodreads dataset is to get a fair idea about the relationships between the multiple attributes a book might have, such as: the aggregate rating of each book, the trend of the authors over the years and books with numerous languages. With over a hundred thousand ratings, there are books which just tend to become popular as each day seems to pass. We proposed an Artificial Neural Network (ANN) model for predicting the overall rating of books. (...) The prediction is based on these features (bookID, title, authors, isbn, language_code, isbn13, # num_pages, ratings_count, text_reviews_count), which were used as input variables and (average_rating) as output variable for our ANN model. Our model were created, trained, and validated using data set in JNN environment, which its title is “Goodreads-books”. Model evaluation showed that the ANN model is able to predict correctly 99.78% of the validation samples. (shrink)

In 2012, a major traffic safety organization tasked the MIT AgeLab with developing a data-driven system for rating the effectiveness of new technologies intended to improve safety. Such a system was envisioned as having the potential to educate and guide consumers towards more confident and strategic purchasing decisions, ideally encouraging adoption of technologies with demonstrated safety benefit. In addition, an evaluation of the status and extent of existing data was seen as a way of identifying research gaps in the state (...) of knowledge about safety systems. The focus was on technologies as a class, not on a rating review of individual vehicle model implementations. As conceptualized, the system aimed to complement traditional NCAP style ratings as well as to provide consumers with transparent information on early stage and often improving safety technologies. Development of the rating system and identification of data was undertaken in consultation with a range of academic, industrial, consumer, NGO, and governmental experts as well as with representatives of many of the major automotive manufacturers and suppliers. -/- A key observation that emerged was that data on objectively demonstrable real-world benefits were generally sparse and often lower than expectations based on theoretical considerations, simulation studies, or pre-production evaluations. A number of experts and industry representatives expressed some surprise at both the divergence between theoretical and observed benefits and the relative scarcity of data upon which to make objective assessments, while others were quite aware of these issues and the need for the development of objective data under real-world operating conditions. A number of factors that might be relevant to understanding why such differences between expected and observed benefits exist were identified. One outcome of this effort was the founding of the Advanced Vehicle Technology (AVT) consortium to collect and examine objective data under naturalistic driving conditions of how drivers interact with, engage or don’t engage, various production safety and driver assistance systems. This ongoing effort is contributing to insights concerning actual benefits and reasons for benefit gaps. -/- Drawing from our initial work, as well as newer sources of data, we argue that the evaluation and rating of safety and driver assistance technologies for informing the consumer and the public at large should consider both theoretical potential and existing demonstrated benefit of specific technologies. This position is increasingly relevant as the effectiveness of many newer technologies have the potential to actually improve over the lifecycle of a vehicle through software updates. The emphasis on ratings based on observed benefit for actual drivers under real-world conditions is proposed to be complementary, rather than competing with, ratings focused largely on controlled test track evaluations of engineered capability. In addition, a case is made for providing ratings that assesses benefit relative to overall crash, injury, and fatality rates – and in relation to the specific scenario / crash event type that a given technology is intended to address. This approach should aid consumers in considering the extent to which a specific technology is or is not relevant to their particular driving needs. (shrink)

According to the No Alternate Possibilities argument, if time passes then the rate at which it passes could be different but time cannot pass at different rates, and hence time cannot pass. Typically, defenders of the NAP argument have focussed on defending premise, and have taken the truth of for granted: they accept the orthodox view of rate necessitarianism. In this paper we argue that the defender of the NAP argument needs to turn her attention to. We describe (...) a series of worlds that appear to contain differential passage: worlds where time passes at different rates in different subregions. If the NAP argument is to succeed, rate necessitarians must show that each of these worlds is either metaphysically impossible, or does not contain differential passage. (shrink)

‘Transplant’ thought-experiments, in which the cerebrum is moved from one body to another, have featured in a number of recent discussions in the personal identity literature. Once taken as offering confirmation of some form of psychological continuity theory of identity, arguments from Marya Schechtman and Kathleen Wilkes have contended that this is not the case. Any such apparent support is due to a lack of detail in their description or a reliance on predictions that we are in no position to (...) make. I argue that the case against them rests on two serious misunderstandings of the operation of thought-experiments, and that even if they do not ultimately support a psychological continuity theory, they do major damage to that theory’s opponents. (shrink)

Every higher education institution (HEI) needs to monitor the employability status of its graduates as this reflects the quality education that HEIs provide to their students. In this study, a retrospective approach was used to analyze the employment status of graduates of a state university in the Philippines from 2015 to 2019. A data mining procedure was adopted to obtain necessary data and analysis. It was hypothesized in the study that the employment rates are the same across programs per year. (...) Also, the employment rates from 2015 to 2019 are the same as the targeted employment rate in the strategic plan of the university. Statistical treatments such as mean, median, and standard deviation, Shapiro-Wilk test, and Analysis of Variance (ANOVA) were used to test the hypothesis. Results show that the employment rate of graduates of 2015-2019 is in the high-level category and significantly higher than the targeted employment rate in the university strategic plan. Similarly, findings show significant differences in the employability rates of graduates considering the programs they enrolled in. On the contrary, no significant difference in the employment rate of graduates per year graduated. The study concluded that the university is consistent in producing employable graduates. (shrink)

To obtain effective fusion results of multi source evidences with different importance, an evidence fusion method with importance discounting factors based on neutrosopic probability analysis in DSmT framework is proposed. First, the reasonable evidence sources are selected out based on the statistical analysis of the pignistic probability functions of single focal elements. Secondly, the neutrosophic probability analysis is conducted based on the similarities of the pignistic probability functions from the prior evidence knowledge of the reasonable evidence sources. Thirdly, the importance (...) discounting factors of the reasonable evidence sources are obtained based on the neutrosophic probability analysis and the reliability discounting factors of the real-time evidences are calculated based on probabilistic-based distances. Fourthly, the real-time evidences are discounted by the importance discounting factors and then the evidences with the mass assignments of neutrosophic empty sets are discounted by the reliability discounting factors. Finally, DSmT+PCR5 of importance discounted evidences is applied. Experimental examples show that the decision results based on the proposed fusion method are different from the results based on the existed fusion methods. Simulation experiments of recognition fusion are performed and the superiority of proposed method is testified well by the simulation results. (shrink)

There is a theorem that shows that it is impossible for an algorithm to jointly satisfy the statistical fairness criteria of Calibration and Equalised Odds non-trivially. But what about the recently advocated alternative to Calibration, Base Rate Tracking? Here, we show that Base Rate Tracking is strictly weaker than Calibration, and then take up the question of whether it is possible to jointly satisfy Base Rate Tracking and Equalised Odds in non-trivial scenarios. We show that it is (...) not, thereby establishing an even more general impossibility theorem. (shrink)

Abstract: This research delves into the utilization of Artificial Neural Networks (ANNs) as a powerful tool for predicting the overall ratings of books by leveraging a diverse set of attributes. To achieve this, we employ a comprehensive dataset sourced from Goodreads, enabling us to thoroughly examine the intricate connections between the different attributes of books and the ratings they receive from readers. In our investigation, we meticulously scrutinize how attributes such as genre, author, page count, publication year, and reader reviews (...) influence a book's overall rating. Through rigorous analysis and experimentation, we construct an advanced ANN model tailored for predictive analysis in the realm of book ratings. The outcomes of our study reveal the remarkable potential of ANNs in this domain. The ANN model exhibits an impressive level of accuracy when it comes to forecasting book ratings, underlining the efficacy and promise of artificial neural networks in enhancing our understanding and prediction of book evaluations. This research opens up new avenues for leveraging machine learning techniques to gain deeper insights into the dynamics of book ratings and reader preferences. (shrink)

This chapter argues for deregulation of the credit-rating market. Credit-rating agencies are supposed to contribute to the informational needs of investors trading bonds. They provide ratings of debt issued by corporations and governments, as well as of structured debt instruments (e.g. mortgage-backed securities). As many academics, regulators, and commentators have pointed out, the ratings of structured instruments turned out to be highly inaccurate, and, as a result, they have argued for tighter regulation of the industry. This chapter shows, however, that (...) the role of credit-rating agencies in achieving justice in finance is not as great as these commentators believe. It therefore argues instead for deregulation. Since the 1930s, lawgivers have unjustifiably elevated the rating agencies into official, legally binding sources of information concerning credit risk, thereby unjustifiably causing many institutional investors to outsource their epistemic responsibilities, that is, their responsibility to investigate credit risk themselves. (shrink)