Chinese international students who studied in the United States received “double stigmatization” from American and Chinese authorities because of the “political othering” tactic during COVID-19. The research used a phenomenological approach to examine why and how specifically the transnational identity of Chinese international students in the United States shifted during the double stigmatization. The researcher conducted a total of three rounds of interviews with 15 Chinese international students who studied in the United States and returned to China between 2018 and (...) 2020, which culminated in 45 interviews through a longitudinal study to probe the transnational identities of this population before and during the double stigmatization; the study also examined how the mindsponge mechanism worked during the identity shifts and the interplay among stigmatization, transnational identity shifts, and the mindsponge mechanism. The study concluded that before COVID-19, Chinese international students had been stigmatized in both China and the United States. (shrink)

Food prices are a daily concern in many households’ decision-making, especially when people want to have healthier diets. Employing Bayesian Mindsponge Framework (BMF) analytics on a dataset of 710 Indonesian citizens, we found that people from wealthier households are less likely to have concerns about food prices. However, the degree of health considerations in food consumption was found to moderate against the above association. In other words, people of higher income-based social classes may worry more about food prices if they (...) care more about the health impacts of their food choices. These findings provide more insights for policymakers on the psychological aspects of promoting the balance between finance and health in food consumption. (shrink)

Darwinian ideas were developed and radically transformed when they were transmitted to the alien intellectual background of late nineteenth- and early twentieth-century China. The earliest references to Darwin in China appeared in the 1870s through the writings of Western missionaries who provided the Chinese with the earliest information on evolutionary doctrines. Meanwhile, Chinese ambassadors, literati and overseas students contributed to the dissemination of evolutionary ideas, with modest effect. The ‘evolutionary sensation’ in China was generated by the Chinese Spencerian Yan Fu’s (...) paraphrased translation and reformulation of Thomas Huxley’s 1893 Romanes Lecture ‘Evolution and ethics’ and his ‘Prolegomena’. It was from this source that ‘Darwin’ became well known in China – although it was Darwin’s name, rather than his theories, that reached Chinese literati’s households. The Origin of Species itself began to receive attention only at the turn of the twentieth century. The translator, Ma Junwu (1881–1940), incorporated non-Darwinian doctrines, particularly Lamarckian and Spencerian principles, into his edition of the Chinese Origin. This partially reflected the importance of the pre-existing Chinese intellectual background as well as Yan Fu’s progressive ‘evolutionary paradigm’. In this paper, I will elucidate Ma Junwu’s culturally conditioned reinterpretation of the Origin before 1906 by investigating his transformation of Darwin’s principal concepts. (shrink)

Cheating is a major problem in society, especially in the educational system. From the viewpoint of subjective cost-benefit analysis, concerns about reputation damage as well as considerations of cultural values against unethical behavior can help increase the perceived costs of cheating. To explore deeper into the psychological processes in such assessments, we employ Bayesian Mindsponge Framework (BMF) analytics – an information-processingbased method. Conducting Bayesian analysis on 493 university students from Germany, Vietnam, China, Taiwan, and Japan, we found that reputation concern (...) is negatively associated with cheating behavior. If a student embraces Confucian values, the above negating effect is stronger. Our findings support the notion that mentally simulated negative consequences of cheating reduce the probability of carrying out such behavior. As the educational system is changing rapidly due to technological advancement, a better understanding of the influences of sociocultural factors can be helpful in cheating prevention efforts. (shrink)

Lack of a historical sense is the hereditary defect of philosophers. … So what is needed from now on is historical philosophizing, and with it the virtue of modesty.

Chapter 1 What Do Zen Masters Teach Us Today? The Case of Sŏn Master Hyeam Sŏnggwan Jin Y. Park Introduction Korean Sŏn Master Hyeam Sŏnggwan (慧菴性觀, 1920–2001) is a relatively unknown figure within English-language scholarship.1 However, among Korean Buddhists, his rigorous Zen practice has been well recognized. One-meal-per-day (K. ilchongsik 一種食), no-meal-in-the-afternoon (K. ohu pulsik 午後不食), and staying-sitting-in-meditation-without-lying-down (K. changjwa purwa 長坐不臥) are all well-known practices that frequently appear when describing Hyeam as a Zen master. What is less frequently asked (...) is what these rigorous Zen practices might mean to us commoners who live in a secular world or to monastics whose practice might not be as rigorous as Hyeam’s. Should Zen masters such as Hyeam who appear to exhibit superhuman capacity for religious practice be only an object of awe and admiration in our secular modern times? Even if so, what do the awe and admiration indicate? In this chapter, I try to bridge the gap between the rigorous practice typically seen in Korean Zen masters’ lives and its meaning for people living in modern times. What questions does a Zen master like Hyeam raise for us, and how should scholars address these issues? These are the inquiries with which I hope to engage. (shrink)

Throughout the COVID-19 pandemic, shortages of scarce healthcare resources consistently presented significant moral and practical challenges. While the importance of vaccines as a key pharmaceutical intervention to stem pandemic scarcity was widely publicized, a sizable proportion of the population chose not to vaccinate. In response, some have defended the use of vaccination status as a criterion for the allocation of scarce medical resources. In this paper, we critically interpret this burgeoning literature, and describe a framework for thinking about vaccine-sensitive resource (...) allocation using the values of responsibility, reciprocity, and justice. Although our aim here is not to defend a single view of vaccine-sensitive resource allocation, we believe that attending critically with the diversity of arguments in favor (and against) vaccine-sensitivity reveals a number of questions that a vaccine-sensitive approach to allocation should answer in future pandemics. (shrink)

Ratio, Volume 34, Issue 4, Page 303-311, December 2021.

In this thesis, I explore motivational internalism and externalism, which concern the relationship between moral judgments and motivation. I first introduce the basic terms and different forms of internalism and externalism, including the externalist objections to internalism based on the famous counterexamples. I then argue against externalism by defending and developing Michael Smith’s fetishism argument. I not only respond to the externalist objections to the fetishism argument but also further argue against different externalist explanations of moral motivation that intend to (...) avoid the fetishism charge. Finally, I re-examine different forms of internalism in order to argue for a new form of internalism that can better preserve our internalist intuitions whilst accommodating the externalist counterexamples. My ultimate conclusion will be that the most plausible form of internalism to accept is constitutional, unconditional, relatively strong, direct internalism that is formulated in terms of dispositional desires. (shrink)

We develop a theory of necessity operators within a version of higher-order logic that is neutral about how fine-grained reality is. The theory is axiomatized in terms of the primitive of *being a necessity*, and we show how the central notions in the philosophy of modality can be recovered from it. Various questions are formulated and settled within the framework, including questions about the ordering of necessities under strength, the existence of broadest necessities satisfying various logical conditions, and questions about (...) their logical behaviour. We also wield the framework to probe the conditions under which a logicist account of necessities is possible, in which the theory is completely reducible to logic. (shrink)

Working in academia is challenging, even more so for those with limited resources and opportunities. Researchers around the world do not have equal working conditions. The paper presents the structure, operation method, and conceptual framework of the SM3D Portal's community coaching method, which is built to help Early Career Researchers (ECRs) and researchers in low-resource settings overcome the obstacle of inequality and start their career progress. The community coaching method is envisioned by three science philosophies (cost-effectiveness, transparency spirit, and proactive (...) attitude) and established and operated based on the Serendipity-Mindsponge-3D knowledge (SM3D) management framework (i.e., mindsponge thinking and Bayesian Mindsponge Framework analytics serve as the coaching program's foundational theory and analytical tools). The coaching method also embraces Open Science's values for lowering the cost of doing science and encouraging the trainees to be transparent, which is expected to facilitate the self-correcting mechanism of science through open data, open review, and open dialogue. Throughout the training process, members are central beneficiaries by gaining research knowledge and skills, acquiring publication as the training's product, and shifting their mindsets from “I can't do it” to “I can do it,” and at the same time transforming a mentee to be ready for a future mentor's role. The coaching method is thus one of the members, for the member, by the members. -/- • The paper provides the structure, operation method, and conceptual framework of the SM3D Portal's community coaching method, which is built to help Early Career Researchers (ECRs) and researchers in low-resource settings overcome the obstacle of inequality and start their career progress. • The paper presents three major science philosophies envisioning the establishment and operation of scholarly community coaching. • The paper employs the mindsponge theory and BMF analytics to construct a conceptual framework explaining how an environment is created to help shift members’ mindsets from “I can't do it” to “I can do it.”. (shrink)

Space tourism is an emerging field where few people have direct experience. However, considering the potential in the near future, it is beneficial to better understand how related information influences people’s attitudes about this new form of tourism. Employing information-processing-based Bayesian Mindsponge Framework (BMF) analytics on a dataset of 361 respondents consuming content related to space tourism on Chinese social media, we found that induced happiness and impression are positively associated with willingness to try space tourism. Information authenticity positively moderates (...) these two associations. Our findings emphasize three aspects of information during the processes of reception and filtering: meaning, intensity, and trust. Since promotional materials for space tourism rely heavily on mental simulations rather than objective feedback, creative uses of digital technology are advantageous. However, precautions must be taken to prevent exploitation, such as false advertising, exaggeration, and emotional manipulation. (shrink)

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

This paper presents the unification of all knowledge and the framework of all sciences, so it goes the theory of consciousness, the method to measure consciousness, and the three keys of the Strong AI. “Logicality and non-absoluteness” is found out to be the intrinsicality of nature, so the “Fundamental Law of Nature” is discovered. Then, the “general methodology of research” and the “model system of nature” are developed to explain everything, especially consciousness. The Coupling Theory of Consciousness tells that nature (...) has the MFEs (More Fundamental Element) that couple to show as material and consciousness, and the brain has a CNS (central nervous system)-independent consciousness system that couples to give off the consciousness signals, with their three excitation levels to show as memory, sub-consciousness, and subjective consciousness. As consciousness is not from neurons, the method to measure consciousness via NCC (neural correlates of consciousness) is to find out participants with the same kinds of consciousness systems. And make them to produce paralleled “conscious information processes” to filtrate out the “noise” neural activities, to obtain the “real” NCC data. Examining the property of consciousness may advance not only neuroscience and physics, but also cognitive science and AI technology. First, the “conscious information processing” model has shown that the Strong AI should process the beyond-domain concepts with a self-controlled intention, second, as the “general methodology of research” is just the other name of the “principle of cognition”, we have already known the running style of the Strong AI. Hopefully, we could develop the Strong AI technology to upgrade human civilization very soon. (shrink)

This paper presents The Unity of Science by answering four fundamental concerns about nature: 1) The ultimate property of everything— the intrinsicality of nature is not only logicality, but also logicality’s non-absoluteness; 2) The ultimate impact of everything— the “General Impact of Nature” (GIN) is what can explain mental processes physically; 3) The proto-structure of everything— the “architect of everything” is with two three-point group concepts; 4) One architecture to host everything— the “general model of nature” provided a whole picture (...) of nature by particularly describing what consciousness is. With this unity, we have developed seven points to complete the unification of all knowledge. But all these are structured on reductionism and neutral monism. (shrink)

This article aims to unify all scientific theories based on the concept of “intrinsicality of nature”, including the fundamental theories in physics. First, the general property within existing natural phenomena, say “intrinsicality of nature”, was deduced as “logicality” and "imperfectness". Then, the identical intrinsicality was deduced out for the science to unify all scientific theories. Finally, with this intrinsicality and the novelties of consciousness, the unification of physics theories, say Theory of Everything, was framed by a physical model of more (...) fundamental element (MFE), which had managed to cover the concepts of quantum mechanics, general relativity, and the physics of consciousness altogether, to test this model of unification. Since the MFE is only a theoretical model, two methods were introduced for its experimental verification. While its application to explain yet unanswered questions in science was tested, and further verification of this model in a lab by measuring consciousness signals was discussed. (shrink)

Both motivational internalism and externalism need to explain why sometimes moral judgments tend to motivate us. In this paper, I argue that Dreier’ second-order desire model cannot be a plausible externalist alternative to explain the connection between moral judgments and motivation. I explain that the relevant second-order desire is merely a constitutive requirement of rationality because that desire makes a set of desires more unified and coherent. As a rational agent with the relevant second-order desire is disposed towards coherence, she (...) will have some motivation to act in accordance with her moral judgments. Dreier’s second-order desire model thus collapses into a form of internalism and cannot be a plausible externalist option to explain the connection between moral judgments and motivation. (shrink)

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

This article presents a new model for valuing a credit default swap (CDS) contract that is affected by multiple credit risks 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)

Cheating is widely considered a condemnable behavior in society and a big problem in the educational system. In this study, we employ the information-processing-based Bayesian Mindsponge Framework to explore deeper the subjective cost-benefit evaluation involving the perceived value of cheating. Conducting Bayesian analysis on 493 university students from Germany, Vietnam, China, Taiwan, and Japan, we found that students who have more positive attitudes toward cheating are more likely to cheat. However, a higher capability of cognitive reflection acts as a moderator (...) that negates the above effect. Re-evaluation of prior thoughts allows for more accurate assessments of the associated risks and possible costs, which help reduce the probability of carrying out cheating behavior. As rapid technological advancement may introduce new and efficient cheating methods, a better understanding of the psychology of cheating in students can help schools prepare better countermeasures. (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)

This paper attempts to assess the economic significance and implications of collateralization in different financial markets, which is essentially a matter of theoretical justification and empirical verification. We present a comprehensive theoretical framework that allows for collateralization adhering to bankruptcy laws. As such, the model can back out differences in asset prices due to collateralized counterparty risk. This framework is very useful for pricing outstanding defaultable financial contracts. By using a unique data set, we are able to achieve a clean (...) decomposition of prices into their credit risk factors. We find empirical evidence that counterparty risk is not overly important in credit-related spreads. Only the joint effects of collateralization 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 financial contracts. We also analyze the difference between cleared and OTC markets. (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)

This paper presents an analytical model for valuing interest rate swaps, subject to bilateral counterparty credit risk. The counterparty defaults are 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.

A combinatorial analysis of intrinsicality takes intrinsic properties to be independent of accompaniment: a property is intrinsic only if it is possible for a lonely or an accompanied thing to have it or lack it (I). Cameron argues that the combinatorial analysis in Langton & Lewis (1998) faces an epistemic circularity, which makes (I) suspicious. In this paper, I examine two approaches to free the combinatorial analyses from the circularity and find them all fail. Then I provide an outline of (...) an argument for (I) by appealing to the grounding analyses of intrinsicality, which shows an advantage of the grounding analyses over the combinatorial ones. (shrink)

Western psychology primarily studies human emotions via physiological reactions to external stimuli. Research suggests that cultural variations lead East Asians and Western-heritage individuals to experience distinct emotional patterns beyond bodily responses. A more thorough understanding of affect, involving culturally influenced emotions, remains unexplored in cross-cultural contexts. Influenced by Confucianism, East Asian cultures show unique emotional patterns. Unlike the Western focus on rationality, Confucian philosophy values human affect (qing 情), going beyond conventional emotions. This paper delves into the transformative nature of (...) Confucian affect, specifically its four facets: (1) philosophized (zhelihua 哲理化), (2) moralized (dehua 德化), (3) ritualized (lihua 禮化), and (4) aestheticized (meixuehua 美學化). These dimensions redirect human emotions towards mutual care and moral elevation. Despite limited empirical research, contemporary East Asian experiences shed light on Confucian affect's ongoing significance in daily life. This paper illuminates existing research to elucidate Confucian affect and proposes future directions for exploration. By recognizing the interplay of cultural influences and emotions, a richer comprehension of affective experiences across cultures emerges, offering insights into the intricate tapestry of human emotions shaped by diverse philosophical and cultural foundations. (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)

Introduction: The development of advanced sewage technologies empowers the industry to produce high-quality recycled water, which greatly influences human’s life and health. Thus, this study investigates the mechanism of individuals’ adoption of recycled water from the technology adoption perspective. -/- Methods: Employing the mixed method of structural equation modeling and artificial neural network analysis, we examined a research model developed from the extended Unified Theory of Acceptance and Use of Technology (UTAUT2) framework. To examine the research model, this study employs (...) a leading web-survey company (Sojump) to collect 308 valid samples from the residents in mainland China. -/- Results: The structural equation modeling results verified the associations between the six predictors (performance expectancy, effort expectancy, social influence, facilitating conditions, environmental motivation, and price value), individuals’ cognitive and emotional attitudes, and acceptance intention. The artificial neural network analysis validates and complements the structural equation modeling results by unveiling the importance rank of the significant determinants of the acceptance decisions. -/- Discussion: The study provides theoretical implications for recycled water research and useful insights for practitioners and policymakers to reduce the environmental hazards of water scarcity. (shrink)

This article presents a new methodology for pricing and hedging commodity derivatives. A generic model calibration is provided. The calibration procedure consists of an offline step where the mean reversion rates, the ratio of the long and short factor volatilities and the correlation between the long and short factors are determined via historical analysis. This offline step is performed relatively infrequently. There’s also an online step of the calibration which happens every time the model is used to price an option (...) or to simulate price paths. Empirical study shows that the model is quite accurate. (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)

Objectives: The growing rate of retraction of scientific publications has attracted much attention within the academic community, but there is little knowledge about the nature of such retractions in schizophrenia-related research. This study aimed to analyze the characteristics of retractions of schizophrenia-related publications.

This article presents a comprehensive framework for valuing financial instruments subject to credit risk. In particular, we focus on the impact of default dependence on asset pricing, as correlated default risk is one of the most pervasive threats in financial markets. We analyze how swap rates are affected by bilateral counterparty credit risk, and how CDS spreads depend on the trilateral credit risk of the buyer, seller, and reference entity in a contract. Moreover, we study the effect of collateralization on (...) valuation, since the majority of OTC derivatives are collateralized. The model shows that a fully collateralized swap is risk-free, whereas a fully collateralized CDS is not equivalent to a risk-free one. (shrink)

However, people might wonder, did all Chinese students engage in school learning before the creation of electronic games? The answer is definitely no, and apart from gaming, students back in the day would skip classes to attend other activities perceived as “irrelevant” to school learning.

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

Humankind is facing many existential global problems that require international and transgenerational efforts to be solved. Preparing our next generation with sufficient knowledge and skills to deal with such problems is imperative. Fortunately, the digital environment provides foundational conditions for children’s and adolescents’ exploration and self-learning, which might help them cultivate the necessary knowledge and skills for future survival. We conducted the Bayesian Mindsponge Framework (BMF) analytics on a dataset of 2069 students from 54 Vietnamese elementary, secondary, and high schools (...) to test this presumption. The results showed that students with higher digital literacy are more curious and have better knowledge regarding global issues (i.e., climate change, disease, overpopulation, aging, etc.). Students’ curiosity also mediates the relationship between digital literacy and global issues knowledge. Based on these findings, we argue that digital explorative space is essential for digital natives’ education for survival, individually (i.e., for future employment requirements) and socially (i.e., for making informed decisions and creating innovations that can be helpful to society). Children’s and adolescents’ exposure to digital explorative space should be promoted to improve their digital literacy rather than prohibition. During the exploration, emotional intelligence is critical in mitigating existential risks, or threats, to digital natives to navigate and overcome chaotic processes occurring in unchartered waters in the virtual world. (shrink)

Given this bitter reality, the “near-suicide” term is coined to describe the phenomenon in which poor patients with serious illnesses or injuries choose to end their treatment, which is highly likely to result in mortality, to avoid making their families destitute.

“Don’t measure a gentleman’s heart with a petty man’s scheming” is an old Chinese adage describing the cognitive bias towards others based on one’s egocentric and negative worldview.

Trong thời đại hiện nay, chúng ta thường cảm thấy bị choáng ngợp bởi sự hỗn loạn của thế giới bên ngoài và khao khát những khoảnh khắc tỉnh thức. “Meandering Sobriety” (tạm dịch “Lang thang trong sự tỉnh thức”) của PGS.TS Vương Quân Hoàng (Trường Đại học Phenikaa và Quỹ Phát triển Khoa học và Công nghệ Quốc gia - NAFOSTED) có thể mang đến cho độc giả những khoảnh khắc đó qua tuyển tập truyện ngắn hài hước và (...) giàu tính suy tưởng. Cuốn sách hiện đang được xếp hạng thứ nhất trong danh sách các tựa sách nhận được nhiều đơn hàng nhất về Triết học của Amazon (Amazon Bestsellers). Ở Amazon US (toàn cầu), Amazon AU (Úc) và Amazon JP (Nhật), sách đang được xếp hạng thứ hai trong cùng hạng mục. (shrink)

In this study, we examine some factors of the subjective emotional influences that may affect volunteers’ likelihood to respond negatively to requests for favors.

In Confucian education philosophy, the teacher is the center of a classroom [6], which has set the tone of the teacher-centered education model in China for thousands of years.

In this essay, we will follow Tang Junyi’s lead in exploring issues related to Chinese diaspora and Chinese philosophy. While we largely endorse Tang’s call for overseas Chinese to establish themselves in their adopted lands, we will argue for a more nuanced view on the identity of Chinese people outside China: they are not marginalized individuals scattered out of “homeland” China, rather they are people legitimately established in their own respective countries. In this connection, we will also advance a view (...) of future Chinese philosophy as a world philosophy that takes roots in China as well as in the world at large. In our view, although Chinese immigrant thinkers in the past century have played a major role in promoting Chinese philosophy outside China, the importance of such a role is likely to decline along with the success of Chinese philosophy becoming a world philosophy. (shrink)

It is quite strange to see Eugenics’s vitality in China, where Confucianism is deep-rooted in the people’s beliefs, influencing their thinking and behaviors.

During the lifetime of a structured product, payment events and cancellation events mainly affect the value of the option. This article presents a model for pricing generic cancellable option. The model is used to build most common kinds of cancellation schedules and compute the cancellation probability.

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 value adjustment (CVA) is also (...) elaborated. A practical framework is developed for pricing defaultable derivatives and calculating their CVAs at a portfolio level. (shrink)

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