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)

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

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)

该研究简要介绍了儒家、佛教和道教在越南的起源和发展，以及它们如何通过 "文化叠加性 "来共存、互动、影响越南社会。基于文化叠加性的成本效益分析，本文进一步说明了儒家思想如何在越南社会中占主导地位，道教思想如何与儒家思想共存，以及为什么佛教影响力逐渐在越南民间消失。.

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)

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 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)

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.

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)

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)

The incremental risk charge (IRC) is a new regulatory requirement from the Basel Committee in response to the recent financial crisis. Notably few models for IRC have been developed in the literature. This paper proposes a methodology consisting of two Monte Carlo simulations. The first Monte Carlo simulation simulates default, migration, and concentration in an integrated way. Combining with full re-valuation, the loss distribution at the first liquidity horizon for a subportfolio can be generated. The second Monte Carlo simulation is (...) the random draws based on the constant level of risk assumption. It convolutes the copies of the single loss distribution to produce one year loss distribution. The aggregation of different subportfolios with different liquidity horizons is addressed. Moreover, the methodology for equity is also included, even though it is optional in IRC. (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 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 may have completed two seemingly impossible tasks: The unity of science and the unification of all knowledge. We have specified the unity of science on four aspects: 1) The common property of everything is logicality and logicality’s non-absoluteness. So, we call this the intrinsicality of nature; 2) The ultimate force of everything is called the “General Impact of Nature” (GIN). GIN is not only to unify the four basic forces, but also to explain life phenomena, especially conscious phenomena; (...) 3) We have also discovered the “architect of everything”, with two concepts and each in three points. So, we can study all things with them; 4) We have developed a “general model of nature” to host everything, and it has particularly described consciousness in physics, biology, and information processing. This unity of science has been developed further and unified all knowledge in seven points. And this paper has confirmed reductionism and neutral monism in particular. (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)

While vitally critical, the relationship between conscious system and the central nervous system (CNS) is least interested to the scientific community, and often regarded as abstractly conceptual in philosophy or religion. We argue that the existence of consciousness system is parallel to, and independent of, CNS. First and foremost, all sciences are based on logic, not any existing theories, so does neuroscience. So, neuroscience shall start from some theory-independent logic, not some neural or molecular hypotheses, or count on modern physics (...) which is neither completed nor physically deep enough. It shall hypothesize the brain has a CNS (central nervous system) independent consciousness system. Then, we have explained why this hypothesis is theory-independent from the view of methodology, philosophy and physics; what a strong experimental logic this hypothesis can produce; how the logic can measure consciousness. In short, sciences are based on logic, and it is serious for neuroscience to hypothesize there is a CNS-independent consciousness system. -/- . (shrink)

Recently, social media have circulated a story of a Chinese Ph.D. student who was forced to drop out of his doctorate program after eight years and become a delivery man because he failed to accomplish sufficient publishing records to meet the program’s graduation requirements.

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)

I invite portal users to participate in a research project exploring the gender identity shifts of Chinese female international students after their overseas study/work experience. The research project will have four authors. The research project is a longitudinal study composed of two sets of interviews. The registration period opens from October 20 to 30, 2022, and will close sooner if the maximum number of participants is reached.

This marks a remarkable milestone when the serendipity-mindsponge-3D knowledge management theory is directly communicated through a well-known media channel like Politico.

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)

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)

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)

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)

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.

The expanding integration of artificial intelligence (AI) in various aspects of society makes the infosphere around us increasingly complex. Humanity already faces many obstacles trying to have a better understanding of our own minds, but now we have to continue finding ways to make sense of the minds of AI. The issue of AI’s capability to have independent thinking is of special attention. When dealing with such an unfamiliar concept, people may rely on existing human properties, such as survival desire, (...) to make assessments. Employing information-processing-based Bayesian Mindsponge Framework (BMF) analytics on a dataset of 266 residents in the United States, we found that the more people believe that an AI agent seeks continued functioning, the more they believe in that AI agent’s capability of having a mind of its own. Moreover, we also found that the above association becomes stronger if a person is more familiar with personally interacting with AI. This suggests a directional pattern of value reinforcement in perceptions of AI. As the information processing of AI becomes even more sophisticated in the future, it will be much harder to set clear boundaries about what it means to have an autonomous mind. (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)

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)

Ang papel ay paglalagom ng itinuturing na pinakamahalagang yugto ng buhay ni José Rizal—ang kanyang pagkakatapon sa Dapitan, sa lente ng konseptong “bagani” ng ating mga ninuno. Sa pagbanggit sa lang nauna nang pag-aaral ukol kay Rizal, ipapakitang kung papaanong ang yugto sa Dapitan ay ang katuparan ng kanyang mga layunin sa La Liga Filipina, na kanyang isinabuhay kasama ang bayan. Sa lente ng kasalukuyang pandemyang COVID 19, makikita natin na tila naranasan din ni Rizal sa kanyang pagkakatapon ang ilang (...) bagay na ating dinaranas ngayon, na tila siya isang frontliner na nasa lockdown, inilagay sa kuwarentena, nag-homeschooling, nagkaroon ng lockdown sickness at namahagi ng ayudang pangkabuhayan sa mga mamamayan ng isang natutulog na bayan upang ito ay sumiglang muli. Nawa ay maging inspirasyon sa bayan na anuman ang hamon at mga balakid, walang makapipigil sa isang Pilipino na magsilbi sa bayan gamit ang kanyang mga talento at manatiling liwanag ng katotohanan at kaalaman. (shrink)

Patients with serious illnesses or injuries may decide to quit their medical treatment if they think paying the fees will put their families into destitution. Without treatment, it is likely that fatal outcomes will soon follow. We call this phenomenon “near-suicide”. This study attempted to explore this phenomenon by examining how the seriousness of the patient’s illness or injury and the subjective evaluation of the patient’s and family’s financial situation after paying treatment fees affect the final decision on the treatment (...) process. Bayesian Mindsponge Framework (BMF) analytics were employed to analyze a dataset of 1042 Vietnamese patients. We found that the more serious the illnesses or injuries of patients were, the more likely they were to choose to quit treatment if they perceived that paying the treatment fees heavily affected their families’ financial status. Particularly, only one in four patients with the most serious health issues who thought that continuing the treatment would push themselves and their families into destitution would decide to continue the treatment. Considering the information-filtering mechanism using subjective cost–benefit judgments, these patients likely chose the financial well-being and future of their family members over their individual suffering and inevitable death. Our study also demonstrates that mindsponge-based reasoning and BMF analytics can be effective in designing and processing health data for studying extreme psychosocial phenomena. Moreover, we suggest that policymakers implement and adjust their policies (e.g., health insurance) following scientific evidence to mitigate patients’ likelihood of making “near-suicide” decisions and improve social equality in the healthcare system. (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)

Patients with serious illnesses or injuries may decide to quit their medical treatment if they think paying the fees will put their families into destitution. Without treatment, it is likely that fatal outcomes will soon follow. We call this phenomenon “near-suicide”. This study attempted to explore this phenomenon by examining how the seriousness of the patient’s illness or injury and the subjective evaluation of the patient’s and family’s financial situation after paying treatment fees affect the final decision on the treatment (...) process. Bayesian Mindsponge Framework (BMF) analytics were employed to analyze a dataset of 1042 Vietnamese patients. We found that the more serious the illnesses or injuries of patients were, the more likely they were to choose to quit treatment if they perceived that paying the treatment fees heavily affected their families’ financial status. Particularly, only one in four patients with the most serious health issues who thought that continuing the treatment would push themselves and their families into destitution would decide to continue the treatment. Considering the information-filtering mechanism using subjective cost–benefit judgments, these patients likely chose the financial well-being and future of their family members over their individual suffering and inevitable death. Our study also demonstrates that mindsponge-based reasoning and BMF analytics can be effective in designing and processing health data for studying extreme psychosocial phenomena. Moreover, we suggest that policymakers implement and adjust their policies (e.g., health insurance) following scientific evidence to mitigate patients’ likelihood of making “near-suicide” decisions and improve social equality in the healthcare system. (shrink)

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)

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.

Dalam novel klasik Crime and Punishment, Fyodor Mikhailovich Dostoevsky secara artistik dan dengan sengaja menggambarkan penderitaan mental dan dilema moral Rodion Romanovich Raskolnikov, seorang mantan mahasiswa hukum muda yang intelek dan simpatik yang tinggal di daerah kumuh Saint Petersburg [1]. Konflik batin Raskolnikov muncul demi kepentingan kemanusiaannya ketika melihat kehidupan yang menyedihkan di sekelilingnya, mengarah pada sikap utilitarian-altruistik terkait pembenaran atas kejahatannya [2]: “Mengapa tidak membunuh rentenir tua yang malang, rakus, dan “tidak berguna” lalu menggunakan dananya untuk meringankan penderitaan manusia?” (...) Dengan pemikiran itu di dalam pikirannya, Raskolnikov bertekad untuk melakukan pembunuhan tetapi ia segera kewalahan oleh rasa bersalahnya. Sudah lebih dari satu abad sejak novel ini pertama kali diterbitkan. Namun, masih banyak orang yang memiliki penderitaan mental dan dilema moral seperti yang dihadapi Raskolnikov. Sebagai manusia, penyakit merupakan sebuah kenyataan yang tidak bisa dihindari namun ingin dihindari oleh semua orang, terutama penyakit yang bersifat fatal seperti kanker, penyakit jantung, infeksi pernafasan, dll. Beberapa diantaranya dapat disembuhkan, dan beberapa tidak. Namun, bagi masyarakat yang mengalami kemiskinan, uang adalah alasan utama yang membuat sebagian besar penyakit serius menjadi “tidak dapat disembuhkan”. Kenyataan pahitnya adalah semakin serius sebuah penyakit, semakin mahal pula biaya pengobatannya. Baik pasien dengan penyakit serius maupun keluarga mereka perlu melakukan pengorbanan yang signifikan untuk membiayai tingginya biaya pengobatan dan perawatan, yang dapat mendorong mereka ke dalam kemiskinan. Jika perawatan medis tidak lagi terjangkau, maka rumah sakit kemungkinan akan “memulangkan” pasiennya ke rumah sehingga mereka dapat menghabiskan saat-saat terakhir hidup mereka dekat dengan orang yang mereka cintai. Pasien non-lokal, miskin, dan tidak memiliki asuransi memiliki sekitar 70% kemungkinan untuk menjadi miskin akibat menjangkau layanan kesehatan [3]. (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 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)

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.

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)

Extant literature suggests a positive correlation between social trust (also called generalized trust) and life satisfaction. However, the psychological pathways underlying this relationship can be complex. Using the Bayesian Mindsponge Framework (BMF), we examined the influence of social trust in a high-violence environment. Employing Bayesian analysis on a sample of 1237 adults in Cali, Colombia, we found that in a linear relationship, generalized trust is positively associated with life satisfaction. However, in a model including the interactions between trust and education (...) level as well as between trust and socioeconomic status, generalized trust is found to be negatively associated with life satisfaction. In this non-linear relationship, both education level and socioeconomic status have moderating effects against the negative association between generalized trust and life satisfaction. In other words, less educated people living in worse socioeconomic conditions are more likely to have lower life satisfaction when they have higher levels of social trust. In contrast, highly educated people living in better socioeconomic conditions are more likely to have higher life satisfaction when they have higher levels of social trust. Due to the facilitating function of trust in information processing, lowering the rigor of the filtering system in a high-violence social environment will likely put an individual at risk. Based on our findings, we suggest that policymakers should consider the impacts of social contexts when advocating for increasing social trust. We also recommend that researchers carefully examine the psychological mechanism underlying an observed association before making suggestions for policymaking. (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.

Extant literature suggests a positive correlation between social trust (also called generalized trust) and life satisfaction. However, the psychological pathways underlying this relationship can be complex. Using the Bayesian Mindsponge Framework (BMF), we examined the influence of social trust in a high-violence environment. Employing Bayesian analysis on a sample of 1237 adults in Cali, Colombia, we found that in a linear relationship, generalized trust is positively associated with life satisfaction. However, in a model including the interactions between trust and education (...) level as well as between trust and socioeconomic status, generalized trust is found to be negatively associated with life satisfaction. In this non-linear relationship, both education level and socioeconomic status have moderating effects against the negative association between generalized trust and life satisfaction. In other words, less educated people living in worse socioeconomic conditions are more likely to have lower life satisfaction when they have higher levels of social trust. In contrast, highly educated people living in better socioeconomic conditions are more likely to have higher life satisfaction when they have higher levels of social trust. Due to the facilitating function of trust in information processing, lowering the rigor of the filtering system in a high-violence social environment will likely put an individual at risk. Based on our findings, we suggest that policymakers should consider the impacts of social contexts when advocating for increasing social trust. We also recommend that researchers carefully examine the psychological mechanism underlying an observed association before making suggestions for policymaking. (shrink)

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