Prior scholarly approaches to meaningful work have largely fallen into two camps. One focuses on identifying how work can contribute to a meaningful life. The other studies the antecedents and outcomes of workers experiencing their work as meaningful. Neither of these approaches, however, captures what people look for when they seek meaningful work—or so I argue. In this paper, I give a new, commitment-based account of meaningful work by focusing on the reasons people have to choose meaningful work over other (...) options. I draw on philosopher Ruth Chang’s account of voluntarist reasons (reasons that arise from an act of the will) to argue that commitments can create distinctive reasons to pursue certain work. It is the presence of these distinctive reasons that makes work meaningful. (shrink)

Las Experiencias Humanas Anómalas (EHA, por su sigla en inglés) ocurren con frecuencia, tanto en la población sana como patológica. Este artículo presentará una breve revisión de la fenomenología y la semiología de las EHA, como la glosolalia, la xenolalia y las experiencias fuera del cuerpo (EFC) con sus posibles características comunes. Además, se describen dos casos anecdóticos de glosolalia y xenolalia, como también se analizan brevemente los posibles elementos transformadores y las características patológicas de las EHA.

Anomalous human experiences (AHEs) are frequently experienced by a number of the healthy as well as the pathological population. The paper provides a brief review of phenomenology as well as semiology of AHEs such as glossolalia, xenolalia, out-of-body experiences (OBEs) and their possible common characteristics. It further describes two anecdotal cases of glossolalia and xenolalia. The paper also briefly looks at the possible transformative elements as well as pathological features of the above mentioned AHEs.

This study provides a short review of certain anomalous experiences such as glossolalia and out-of-body experiences, which are frequently experienced by a number of the healthy as well as the pathological population. Research also suggests that these experiences may be of a transformative and transcendent nature and linked to positive psychological well-being. Further, they may share similar phenomenological and semiological features. They all belong to the category of altered states of consciousness and are mostly treated by current psychiatry as pathological (...) problems, rather than spiritual or religious, as suggested by some studies. (shrink)

The paper provides a brief review of the literature, including a case study, of anomalous human experiences (AHEs) such as glossolalia, xenolalia, out-of-body experiences (OBEs) and near-death experiences (NDEs). AHEs are frequently experienced by a number of the healthy as well as the pathological population. The first part of the paper looks at the literature describing phenomenology as well as semiology of the AHEs and their common features. The second part looks at the literature reflecting possible transformative and transcendent elements (...) of the AHEs. The last part of the paper examines the literature presenting the possible pathological as well as spiritual nature of AHEs. (shrink)

This paper presents phenomenology of out- of-body experiences (OBEs) occurring spontaneously or pathologically triggered as well as other types of anomalous perceptual experiences such as near- death- experiences (NDEs), temporal lobe irregularities, and ictal autoscopic phenomena (IAP). The paper further presents a brief overview of some of the OBEs studied in both the healthy and pathological populations, as well as anomalous perceptual experiences, with features common to OBEs, in the healthy population, as well as, pathological population. -/- .

This paper presents a case of anomalous perception, mainly in the form of out-of-body experiences (OBEs), of a healthy individual. The individual has been experiencing massive out-of-body experiences, spontaneously or at will, on a daily basis, since birth, which is more than 45 years. The paper further presents some characteristics of phenomenology as well as semiology of OBEs of the above mentioned subject based on anecdotal as well as first hand evidence.

“Spiritual emergence” is a profound spiritual opening that takes place in the form of different spiritual experiences that usually don’t constitute a serious problem or impairment in the everyday lives of the individuals who experience them. According to a paper by British psychiatrist Nicki Crowley, this kind of emergence is an organic process within human development, during which individuals are able to experience transpersonal elements.

With the surge of the COVID-19 pandemic, online sellers faced challenges in managing their online business daily. Aside from it, their work-life balance has been negatively affected as well, considering that they work from home and are responsible for household responsibilities. Thus, this study is conducted during the pandemic and gathered data using a semi-structured interview through Messenger call. It is conducted to explore the lived experiences of online sellers and how they managed their online business and personal (...) life. It also determines the specific challenges they’ve encountered and how they coped with them. Lastly, this study aims to map out how these experiences will benefit online sellers and consumers and explain that online selling can be both sustainable and convenient in terms of earning a good living and meeting their daily needs. Moreover, three major conclusions emerged from this study’s findings: (1) online sellers faced psychological and physical difficulties in managing their online business during the pandemic, (2) online sellers discovered ways on how to cope with the struggles they are facing, and (3) online sellers reflected on their experience to be more effective in the online selling industry. (shrink)

Customer behavior, market dynamics, and technological advances have made it challenging for marketing theorists to provide comprehensive explanations and actionable insights. Although there are numerous substantive marketing frameworks, no formal marketing theory exists. This study aims to develop the first formal grounded theory in marketing by incorporating artificial intelligence and Forde's conceptual framework as a guiding lens. Charmaz's constructivist grounded theory tradition and Forde's conceptual framework and data analysis strategy were employed for this purpose. The data analysis strategy used with (...) grounded theory’s constant compare-and-contrast method comprises holistic and systems thinking, dramaturgical and situational analysis, perspective-taking, and deconstruction. To evaluate Glaser’s assertion that all is data, artificial intelligence was incorporated into the research as the data source for retrieving the theoretical samples to address the primary research question: How can Forde's conceptual framework and artificial intelligence be leveraged to develop a formal marketing theory grounded in evidence? Of significance was the emergence of democratic marketing behaviors and the normalization of anti-democratic marketing approaches leveraged to manipulate buyers or gain access to segments of customers. Buyers and sellers can simultaneously benefit from and be prejudiced by marketing exchange dynamics. This finding lends credibility to the newly emerged framework of strategic actions where empowerment and disempowerment are leveraged to achieve specific goals. Considering this finding, it is suggested that businesses view marketing as a symbiotic relationship between two power centers, buyers and sellers, who respectively strive to maintain human dignity and sustainability. Researchers are encouraged to apply the framework across substantive areas, international markets, public relations, political campaigns, and others. (shrink)

With the highest profile seller of $99 genetic tests under fire, will public trust in personalised medicine suffer?

This article intends to show that the defense of “understanding” as one of the major goals of science education can be grounded on an anti-reductionist perspective on testimony as a source of knowledge. To do so, we critically revisit the discussion between Harvey Siegel and Alvin Goldman about the goals of science education, especially where it involves arguments based on the epistemology of testimony. Subsequently, we come back to a discussion between Charbel N. El-Hani and Eduardo Mortimer, on the (...) one hand, and Michael Hoffmann, on the other, striving to strengthen the claim that rather than students’ belief change, understanding should have epistemic priority as a goal of science education. Based on these two lines of discussion, we conclude that the reliance on testimony as a source of knowledge is necessary to the development of a more large and comprehensive scientific understanding by science students. (shrink)

While artificial intelligence (AI) is increasingly applied for decision-making processes, ethical decisions pose challenges for AI applications. Given that humans cannot always agree on the right thing to do, how would ethical decision-making by AI systems be perceived and how would responsibility be ascribed in human-AI collaboration? In this study, we investigate how the expert type (human vs. AI) and level of expert autonomy (adviser vs. decider) influence trust, perceived responsibility, and reliance. We find that participants consider humans to be (...) more morally trustworthy but less capable than their AI equivalent. This shows in participants’ reliance on AI: AI recommendations and decisions are accepted more often than the human expert’s. However, AI team experts are perceived to be less responsible than humans, while programmers and sellers of AI systems are deemed partially responsible instead. (shrink)

Due to the shortage of organs, it has been proposed that the ban on organ sales is lifted and a market-based procurement system introduced. This paper assesses four prominent proposals for how such a market could be arranged: unregulated current market, regulated current market, payment-for-consent futures market, and the family-reward futures market. These are assessed in terms of how applicable prominent concerns with organ sales are for each model. The concerns evaluated are that organ markets will crowd out altruistic donation, (...) that consent to sell organs is invalid, that sellers will be harmed, and that commodification of organs will affect human relationships in a negative way. The paper concludes that the family-reward futures market fares best in this comparison but also that it provides the weakest incentive to potential buyers. There is an inverse relationship between how applicable prominent critiques are to organ market models and the increase in available organs they can be expected to provide. (shrink)

The purpose of this article is to compare several street typologies (distributed from center to suburb) in Tirana, Albania while taking into consideration pedestrian behavior on these pathways. The streets "Myslym Shyri," "Bllok," "Kombinat" (an extension of Kavaja's Street), and "Ana Komnena" (formerly "Fusha e Aviacionit") will be the primary focus of this study. The following variables will be taken into account such as pedestrian behaviors, street identity, dissatisfaction, walking distance when shifting to another zone, effects of greenery on pedestrians, (...) time spent, points of interest, frequency, pavement quality, preferred walking periods, gathering places, utilization of benches, ambulant sellers, impact of vegetation and greenery, water basins, preference for public transportation, and road signs. Direct observations and a questionnaire will be used to determine the accurate information. The study should provide recommendations as guidance for municipalities and stakeholders to better understand the behavior of pedestrians in Tirana’s context. The streets that pedestrians frequent the most include the "Bllok" area and "Myslym Shyri" Street. The pedestrian resident population on "Myslym Shyri" street, which is dominated by people of all ages, including children, youth, and the elderly, has a slight advantage over the "Bllok" neighborhood. Furthermore, there is a wide variety of urban elements on Ana Komnena Street (formerly known as "Fusha e Aviacionit"). Meanwhile, the pedestrians on Kombinati’s street suffer a little bit more because of the traffic congestion and vehicle pollution. (shrink)

The purpose of this study is to describe the models and specifics of export-import transactions in the service sector in Ukraine. For this, the essence of the service as an object of export-import operations is characterized, the process of conducting export operations is described, an algorithm for the implementation of export-import operations of services is developed and provided to indicate their features and simplify the implementation procedures for the business of Ukraine. Within the framework of the article, an attempt was (...) made to visualize the models of export and import of services recognized by the World Trade Organization within the framework of the General Agreement on Trade in Services, and an algorithm of export-import of services was developed, taking into account the main operations to facilitate the trade process of the national business of Ukraine. Thanks to the author's developments, the process of export-import of services for the domestic manufacturer will become more understandable and transparent, which will provide the opportunity to enter and consolidate international markets, and in the future also increase trade turnover, which, among other things, will contribute to the growth of the country's national economy. The value of the study lies in the author's attempt in one study to outline models of export-import of services, presenting them visually, with a developed algorithm for sellers to simplify the procedure for their registration, taking into account the legal norms of a certain place of their provision. understanding the main models, directly the process of providing and processing operations on export-import services will make it easier for suppliers to work with this product category in world trade. Further research may be aimed at examining the specifics of import-export operations depending on the types of services provided by domestic manufacturers in different countries of the world. -/- Анотація. Метою даного дослідження є опис моделей та специфіки здійснення експортно-імпортних операцій у сфері послуг в Україні. Для цього охарактеризована сутність послуги як об'єкта експортно-імпортних операцій, описано моделі проведення експортно-імпортних операцій, розроблено та наведено алгоритм здійснення експортно-імпортних операцій послуг для зазначення їх особливостей й спрощення процедур здійснення для бізнесу України. У статті зроблено спробу наглядного зображення моделей експорту та імпорту послуг, визнаних Світовою організацію торгівлі у рамках Генеральної угоди з торгівлі послугами, та розроблено алгоритм експорту-імпорту послуг з урахуванням основних операції для полегшення процесу торгівлі національного бізнесу України. Завдяки розробкам автора процес експорту-імпорту послуг для вітчизняного виробника стане більш зрозумілим та прозорим, що надасть можливість виходу на міжнародні ринки та закріплення на них, а в подальшому ще й нарощувати обороти торгівлі, що, у тому числі, буде сприяти росту національної економіки країни. Цінність дослідження полягає у спробі автора в одному дослідженні викласти моделі експорту-імпорту послуг, представивши їх наочно, з розробленим алгоритмом для продавців для спрощення процедури їх оформлення з урахуванням норм законодавства певного місця їх надання. розуміння основних моделей, безпосередньо процесу надання та оформлення операцій з експорту-імпорту послуг полегшить постачальникам роботу з цією категорією продукту у світової торгівлі. Подальші дослідження можуть бути націлені на розгляд особливостей експортно- імпортних операцій в залежності від видів послуг, які надають вітчизняні виробники у різних країнах світу. (shrink)

Worldwide 1.2 million people are dying from kidney failure each year, and in the USA alone, approximately 100 000 people are currently on the waiting list for a kidney transplant. One possible solution to the kidney shortage is for governments to pay donors for one of their healthy kidneys and distribute these kidneys according to need. There are, however, compelling objections to this government-monopsony model. To avoid these objections, I propose a small adjustment to the model. I suggest we reward (...) kidney sellers with both money and a ceremony that celebrates their noble act. They should, in other words, receive a prize rather than a price. (shrink)

A critical review of Mark Siderits's arguments in support of a compatibilist Buddhist theory of free will based on early Abhidharma reductionism and the two-truths distinction between conventional and ultimate truths or reality, which theory he terms 'paleo-compatibilism'. The Buddhist two-truths doctrine is basically analogous to Sellers' distinction between the manifest and scientific images, in which case the argument is that determinism is a claim about ultimate reality, whereas personhood and agency are about conventional reality, both discourse domains are (...) semantically insulated, and thus there cannot be any issue of the incompatibility. (shrink)

The aim of this paper is to make a comparison between different streets typology (with a distribution from center to suburb) specified in Tirana, taking into account the pedestrians' behavior on these streets. This paper will primarily focus on the following streets: “Myslym Shyri” street, “Bllok” area, “Kombinat” area, (an extension of Kavaja’s Street), and also “Ana Komnena” street (former “Fusha e Aviacionit”). The pedestrian actions, likeness, dissatisfaction, walking distance while transferring to another zone, greenery effects on pedestrians, time spent, (...) points of interest, level of frequency, pavement quality, the favorite time for walking, meeting points, benches usage, ambulant sellers, vegetation and greenery impact, water basins, public transport preference, and road signs are some of the topics to be addressed in this paper. Determination of these data will be made by employing a questionnaire and direct observation. The study should provide recommendations as guidance for municipalities and stakeholders to better understand the behavior of pedestrians in Tirana. The “Bllok” area and “Myslym Shyri” Street are the most frequented streets by pedestrians. “Myslym Shyri” street has a slight edge over the “Bllok” area and is populated by different categories of pedestrians involving children, youth, middle ages, and the elderly. Ana Komnena Street (former "Fusha e Aviacionit") is not lacking any urban components. Meanwhile, the pedestrians on Kombinati’s street suffer a little bit more because of the traffic jam and vehicle pollution. (shrink)

The Action Theory of Exchanges is based on three main assumptions: i) an exchange is motivated by people having convergent preferences, ii) people exchange actions, and iii) offers and acceptances are crucial parts of an exchange and they bring about rights and obligations. The main aim of this paper is to discuss three aspects of this theory to better understand its ontological implications and, possibly, improve it. I first examine the expression “transferring the ownership” by showing an ontological issue behind (...) it; after that, I propose an interpretation that might solve this issue. I then show that convergent preferences are not enough to motivate an exchange; accordingly, one has to introduce two more preferences possessed by the agents. I finally propose a characterization of buying and selling (and buyer and seller) which, in addition to being compatible with the Action Theory of Exchanges, has the advantage of accounting for both monetary and non-monetary exchanges. (shrink)

This article intends to show that the defense of ‘‘understanding’’ as one of the major goals of science education can be grounded on an anti-reductionist perspective on testimony as a source of knowledge. To do so, we critically revisit the discussion between Harvey Siegel and Alvin Goldman about the goals of science education, especially where it involves arguments based on the epistemology of testimony. Subsequently, we come back to a discussion between Charbel N. El-Hani and Eduardo Mortimer, on the (...) one hand, and Michael Hoffmann, on the other, striving to strengthen the claim that rather than students’ belief change, understanding should have epistemic priority as a goal of science education. Based on these two lines of discussion, we conclude that the reliance on testimony as a source of knowledge is necessary to the development of a more large and comprehensive scientific understanding by science students. (shrink)

This chapter argues that the Great Ideas are integral to Mortimer J. Adler’s Great Books Movement in much the same way that the Four Noble Truths and the Noble Eightfold Path are integral to Buddhism. Both use ‘Great’ and ‘Noble’ to point toward human excellence. For Adler, the Great Ideas are the metaphysical and moral concepts out of which Western civilization developed. They are the main topics in an ongoing great conversation that shapes Western culture. Precisely because these Great (...) Ideas are great, insofar as they point toward human excellence (virtue), they ought not be considered the exclusive property of the West. Instead, as Adler recognized, they should be utilized in the analysis of other cultural traditions. This chapter uses two of Adler’s Great Ideas, freedom and religion, to analyze Buddhism as it is encountered in the early Indian Buddhist texts. It asserts all human philosophy and culture, including that of Buddhism, is ultimately based in religion, thereby making religion the greatest of Adler’s and the Buddha’s Great philosophical and cultural ideas. (shrink)

Ayn Rand is among the most outspoken, and important, intellectual voices in America, wrote Playboy Magazine in 1964. She is the author of what is perhaps the most fiercely damned and admired best seller of the decade, Atlas Shrugged. This chapter discusses some of the reasons for studying Rand and some of the challenges involved. It also discusses a few features of Rand's corpus and her life that should be borne in mind when studying her.

Trust can be thought of as a three place relation: A trusts B to do X. Trustworthiness has two components: competence (does the trustee have the relevant skills, knowledge and abilities to do X?) and willingness (is the trustee intending or aiming to do X?). This chapter is about the willingness component, and the different motivations that a trustee may have for fulfilling trust. The standard assumption in economics is that agents are self-regarding, maximizing their own consumption of goods and (...) services. This is too restrictive. In particular, people may be concerned with the outcomes of others, and they may be concerned to follow ethical principles. I distinguish weak trustworthiness, which places no restrictions on B’s motivation for doing X, from strong trustworthiness, where the behaviour must have a particular non-selfish motivation, in finance the fiduciary commitment to promote the interests of the truster. I discuss why strong trustworthiness may be more efficient and also normatively preferable to weak. In finance, there is asymmetric information between buyer and seller, which creates a need for trustworthy assessment of products. It also creates an ambiguity about whether the relationship is one of buyer and seller, governed by caveat emptor, or a fiduciary relationship of advisor and client. This means that there are two possible reasons why trust may be breached: because the trustee didn’t realise that the truster framed the relationship as a fiduciary one, or because the trustee did realise but actively sought to take advantage of the trust. Correspondingly, there are two possible types of agent: normal people who are not always self-regarding and who are trust responsive (if they believe that they are being trusted then they are likely to fulfill that trust), and knaves, after Hume’s character who is always motivated by his own private interest. We can increase the trustworthiness of normal people by getting them to re-frame the situation as one of trust, so they will be strongly trustworthy (i.e. change of institutional culture), and by providing non-monetary incentives (the correct choice of incentive will depend on exactly what their non-selfish motivation is). Knaves need sanctions, which can make them weakly trustworthy. However, this is a delicate balance because sanctions can crowd out normative frames. We can also increase the trustworthiness of financiers by making finance less attractive to knaves; changing the mix of types in finance could help support the necessary cultural change. (shrink)

The move from open outcry to electronic trading added another responsibility to futures exchanges—that of matching orders between buyers and sellers. Matching systems can affect the level and speed of price discovery, the distribution of revenue, as well as the level of price efficiency of a given market. Whether the matching system is procedurally fair is another important consideration. I argue that while FIFO (First In First Out) is a fair procedure in principle and is perceived as the default (...) matching system, it is not a fair procedure in practice. Likewise, while pro rata is a fair procedure in principle, it is not so in practice. Nevertheless, both FIFO and pro rata are relics of an open outcry system. Instead, I propose an alternative approach to matching systems that builds on the strengths of electronic trading—the ability to randomize in real time. I introduce random selection for service (RSS) as a matching system that is procedurally fair both in principle and in practice. (shrink)

Fifty years ago this year a legal practitioner turned military intelligencer turned philosopher, Herbert Hart, published The Concept of Law, still deservedly best-seller in thought about law. It presents law, especially common law and constitutionally ordered systems such as ours, as a social reality which results from the sharing of ideas and making of decisions that, for good or evil, establish rules of law which are what they are, whether just or unjust. But right at its centre is a chapter (...) on justice, informed by Hart’s professional knowledge of Plato and Aristotle and the tradition of civilized thought about justice, thought which he sums up like this: “the general principle latent in [the] diverse applications of the idea of justice is that individuals are entitled in respect of each other to a certain relative position of equality or inequality.” “Hence”, he goes on, “[the] leading precept [of justice] is often formulated as ‘Treat like cases alike’; though we need to add … ‘and treat different cases differently’”. This article will say something about three aspects of this vast topic: (i) about the factual basis and normative grounds of equality; (ii) about the proposed principle of equal concern; and (iii) about laws and social policies that pursue equality by selective prohibition of direct and indirect discrimination, and of harassment or vilification, victimisation and offence. (shrink)

Libertarian philosophy asserts that only the initiation of physical force against persons or property, or the threat thereof, is inherently illegitimate. A corollary to this assertion is that all forms of speech, including fraudulent advertising, are not invasive and therefore should be considered legitimate. On the other hand, fraudulent advertising can be viewed as implicit theft under the theory of contract: if a seller accepts money knowing that his product does not have some of its advertised characteristics, he acquires the (...) property title to the customer’s money without voluntary consent, which is theft. The balance between these two logical extensions of property rights—the right of free speech and the right of contract—lies somewhere in the area of communication philosophy, and can be explained through understanding the role of communication in human interactions. Advertising is a form of communication that may convey important information about the conditions of the proposed contract. These conditions are expressed in particular words that may have different meanings in different circumstances. Therefore to determine whether a particular example or “misinterpretation” is mere sophistry or a type of fraud, the judicial system has to approach each issue on a case-by-case basis. The border between legal and illegal should be determined by precedents and by expectations based on commonly accepted definitions of terms—what people commonly understand by the words and other forms of communication they use. (shrink)

This is a short scholarly note about my retrieval an original copy of the Daily Post-Boy issue no. 7024 from September 9th,1732 from a private seller. In this issue we find an anonymous letter addressed to Berkeley which gave rise to him writing the Theory of Vision Vindicated. While Berkeley Berkeley appended a copy of the anonymous critic’s letter to TVV, until now an original copy of The Daily Post-Boy issue had yet to be discovered. -/- I have donated the (...) original copy to the Marsh's Library in Dublin, but you will find a scan of the original document attached to the note. -/- . (shrink)

This article addresses the emergence of African– European business relationships. Its focus is on the role of bargaining power and information tech- nology and its impact on the different stakeholders in (electronic) markets (sellers, market maker, buy- ers). Information technology is seen as an enabling technology that facilitates reaching a wider cus- tomer base (called reach) and providing a channel for increased customer services (called richness). The central question is how African suppliers can create bargaining power by means of (...) information technology and therefore enter and improve their position in European markets. Research is carried out in the flower industry. In this industry African flower growers create competitive advantage and develop business relationships with European buy- ers (wholesalers, retailers). In this article we inves- tigate three flower markets (Tele Flower Auction, FloraHolland Auction, and Aalsmeer Auction), the role of African flower growers, and the use and impact of information technology in these markets. The results of our research show that there are pot- entials for African flower growers to enter the Euro- pean flower markets and to increase their position of bargaining power. A first potential is using and implementing information technology for the access to new and large European markets. African flower growers use information technology to streamline transaction processes and lower transac- tion costs. A second potential is related to the qual- ity and specificity of the produced flower products. Information technology can remove the quality uncertainty of products and can provide rich infor- mation services to buyers. The results in the flower industry suggest that information technology pro- vides opportunities for the African producers to expand the reach and richness of their product and service offerings, thus creating economic value. Ó 2004 Elsevier Ltd. All rights reserved. (shrink)

A few days ago, I received the acceptance decision for the paper titled “Kingfisher: Contemplating the connection between nature and humans through science, art, literature, and lived experiences”. I consider this paper my best-written article of 2023, so my feeling of happiness was immeasurable when I knew it got accepted. Coincidentally, a book by my co-author, Prof. Vuong, which is one of our inspirations to write this paper, also became Amazon Japan’s best seller in the category of humanist philosophy. This (...) is, again, another tremendous happiness for me. (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 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)

E 'sia sorprendente e appropriato che questo enorme, gergo-carico (questo libro ha davvero bisogno di un glossario!), lavoro pesantemente accademico è diventato un best seller nel mondo degli istruiti. Bisogna dedicarsi a imparare il gergo e poi ad arare attraverso 551 pagine di testo e 238 pagine di note. Meanwhile, ci viene detto più e più volte che questo è solo un contorno di ciò che verrà! Anche se critica severamente gli eccessi dei tre movimenti, si tratta di un'interpretazione mistica (...) e postmoderna decostruttiva e New Age della religione, della filosofia e delle scienze comportamentali da un punto di vista molto liberale e spirituale, cioè senza il peggior decon, pm e Vietnam gergo, egualitarismo rabbioso e anti-intellettualismo. Si ottiene un fantastico campionamento di scritte sbagliate, idee confuse e obsolete e gergo obsoleto. Se uno ha una buona istruzione attuale, è doppiamente doloroso leggere questo libro (e la maggior parte della scrittura sul comportamento umano). Doloroso perché è così torturato e confuso, e poi di nuovo quando ti rendi conto di quanto sia semplice con la psicologia moderna e la filosofia. La terminologia e le idee sono orribilmente confuse e datate (ma meno nell'analisi di Wilber che nelle sue fonti). Questo libro e la maggior parte delle sue fonti sono testi di psicologia aspiranti, anche se la maggior parte degli autori non se ne rese conto. Si tratta del comportamento umano e del ragionamento sul perché pensiamo e agiamo come facciamo e come potremmo cambiare in futuro. Ma (come tutte queste discussioni fino a poco tempo fa) nessuna delle esplicazionisono davvero spiegazioni, e quindi non danno alcuna comprensione del comportamento umano. Nessuno discute i meccanismi mentali coinvolti. È come descrivere come funziona un'auto discutendoil volante e il metallo e vernice senza alcuna conoscenza del motore, del carburante o del treno a trazione. Infatti, come la maggior parte delle più vecchie spiegazioni di comportamento, i testi citatiqui e i comments di Wilber sono spesso più interessanti per che tipo di cose che accettano (eomettere!) come spiegazioni, e il tipo di ragionamento they uso, che per il contenuto effettivo. Se si è sulla filosofia e la psicologia cognitiva ed evolutiva, la maggior parte di questo è arcaico. Come quasi tutti (studiosi e pubblico allo stesso modo-e.g. vedi la mia recensione di Freedom Evolves di Dennett e di altri libri), non capisce che le basi della religione e dell'etica, in realtà tutti i comportamenti umani, sono programmati nei nostri geni. Una rivoluzione nella comprensione di noi stessi stava avvenendo mentre scriveva i suoi numerosi libri e lo passava davanti. Coloro che desiderano un quadro aggiornato completo per il comportamento umano dalla moderna vista a due systems possono consultare il mio libro 'La struttura logica dellafilosofia, psicologia, Mind e il linguaggio in Ludwig Wittgenstein e John Searle' 2nd ed (2019). Coloro che sono interessati a più dei miei scritti possono vedere 'TalkingMonkeys--Filosofia, Psicologia, Scienza, Religione e Politica su un Pianeta Condannato--Articoli e Recensioni 2006-2019 3rd ed (2019) e Suicidal Utopian Delusions nel 21st Century 4th ed (2019) . (shrink)

It is both amazing and fitting that this huge, jargon-laden (this book really needs a glossary!), heavily academic work has become a best seller in the world of the educated. One has to be dedicated to learn the jargon and then plow through 551 pages of text and 238 pages of notes. Meanwhile, we are told time and again that this is just an outline of what is to come! -/- Though he severely criticizes the excesses of the three movements, (...) this is a deconstructive and New Age Mystical and postmodern interpretation of religion, philosophy and the behavioral sciences from a very liberal,spiritual point of view—i.e., without the worst of decon, pm and NAM jargon, rabid egalitarianism and anti-scientific anti-intellectualism. -/- He analyzes in some detail the various world views of philosophy, psychology, sociology and religion, exposing their fatal reductionistic flaws with (mostly) care and brilliance, but most of the sources he analyzes are of almost no relevance today. They use terminology and concepts that were already outdated when he was researching and writing 20 years ago. One has to slog thru endless pages of jargon -laden discussion of Habermas, Kant, Emerson, Jung et.al. to get to the pearls. -/- You get a terrific sampling of bad writing, confused and outdated ideas and obsolete jargon. -/- If one has a good current education, it is doubly painful to read this book (and most writing on human behavior). Painful because it´s so tortured and confusing and then again when you realized how simple it is with modern psychology and philosophy. The terminology and ideas are horrifically confused and dated (but less so in Wilber´s own analysis than in his sources). -/- This book and most of its sources are would-be psychology texts, though most of the authors did not realize it. It is about human behavior and reasoning-about why we think and act the way we do and how we might change in the future. But (like all such discussion until recently) none of the explanations are really explanations, and so they give no insight into human behavior. Nobody discusses the mental mechanisms involved. It is like describing how a car works by discussing the steering wheel and metal and paint without any knowledge of the engine, fuel or drive train. In fact, like most older ´explanations` of behavior, the texts quoted here and the comments by Wilber are often more interesting for what kinds of things they accept (and omit!) as explanations, and the kind of reasoning they use, than for the actual content. -/- If one is up on philosophy and cognitive and evolutionary psychology, most of this is archaic. Like nearly everyone (scholars and public alike--eg, see my review of Dennett´s Freedom Evolves and other books), he does not understand that the basics of religion and ethics-- in fact all human behavior, are programmed into our genes. A revolution in understanding ourselves was taking place while he was writing his many books and it passed him by. -/- Those wishing a comprehensive up to date framework for human behavior from the modern two systems view may consult my article The Logical Structure of Philosophy, Psychology, Mind and Language as Revealed in Wittgenstein and Searle 59p(2016). For all my articles on Wittgenstein and Searle see my e-book ‘The Logical Structure of Philosophy, Psychology, Mind and Language in Wittgenstein and Searle 367p (2016). Those interested in all my writings in their most recent versions may consult my e-book Philosophy, Human Nature and the Collapse of Civilization - Articles and Reviews 2006-2016 662p (2016). (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)

We are all born in some religion, cult, or school of thought. Some are born Christian, some Muslim, and some Jewish, Buddhist, Hindu, etc. -/- All that these people have in common as they grow up is their bias towards their own religion and how they view and criticize the opposing religions. They all seem to believe that their religion and God or the Gods are the true ones. -/- If Jews think that they are correct, and Muslims and Christians (...) think the same as the Jews, and the Buddhists, Hindus, and others feel the same way, then we need to ask one, which group is correct? And two, why do they all think the same but over different Gods and teachings? (shrink)

The development of a book is an enjoyable task. Whatever the contents of this book might be, I assure you that I would try my best to put things in such a simple language in an easy-to-understand manner. Moreover, I also promise to be as blunt and frank as I could be. -/- I have been thinking of writing this book for quite some time; however, I have decided if I am going to write one book, then I might as (...) well write more books since I am going over the basics of some of my thoughts and theories in this very first book.6 However, my thoughts and theories are the least important since everybody could be wrong, and my thoughts could have been the same as others. -/- Yet, as mentioned earlier, these are only the base of my thoughts, observations, and theories and do not include all the subjects I would love to share. I have written in this very first book a brief introduction to some of my thoughts. -/- Furthermore, they are nothing special since we all think we have something special to say. I might perhaps be under the same impression as everybody else. -/- Also, I have to admit that I am an average person like any other person who could make mistakes. Therefore, I see myself entitled to change of opinion if better logic is provided sufficiently. -/- I have to try writing this book since it is already long overdue, and it is time to share my opinions and7 understandings of the world as simple and as naive that they can be! -/- Moreover, this book will be as I usually say that ''in school, first, you learn a lesson then you have a test, but in life, first, you have a test then you learn a lesson''. -/- So I promise to listen to your criticism and pieces of advice to make myself better and develop into a better and wiser individual. I hope this book helps us both. -/- This book is not about me being right or wrong since I will always look forward to criticism since critics are the ones that help us be better at what we are or what we are trying to accomplish. (shrink)