Credit risk, also known as default risk, is the likelihood of a corporation losing money if a business partner defaults. If the liabilities are not met under the terms of the contract, the firm may default, resulting in the loss of the company. There is no clear way to distinguish between organizations that will default and those that will not prior to default. We can only make probabilistic estimations of the risk of default at best. There are two types of (...) credit risk default models in this regard: structural and reduced-form models. Structural models are used to calculate the likelihood of a company defaulting based on its assets and liabilities. If the market worth of a company's assets is less than the debt it owes, it will default. Reduced form models often assume an external cause of default, such as a Poisson jump process, which is driven by a stochastic process. They model default as a random event with no regard for the balance sheet of the company. This paper provides a Review of credit risk default models. (shrink)

In this note, we consider a Merton model for default risk, where the firm’s value is driven by a Brownian motion and a compound Poisson process.

Credit risk, also known as default risk, is the likelihood of a corporation losing money if a business partner defaults. If the liabilities are not met under the terms of the contract, the firm may default, resulting in the loss of the company. There is no clear way to distinguish between organizations that will default and those that will not prior to default. We can only make probabilistic estimations of the risk of default at best. There are two types of (...) credit risk default models in this regard: structural and reduced form models. Structural models are used to calculate the likelihood of a company defaulting based on its assets and liabilities. If the market worth of a company's assets is less than the debt it owes, it will default. Reduced form models often assume an external cause of default, such as a Poisson jump process, which is driven by a stochastic process. They model default as a random event with no regard for the balance sheet of the company. This paper provides a Review of credit risk default models. (shrink)

The paper presents, a new large deviations principles (SLDP) of non-Freidlin-Wentzell type, corresponding to the solutions Colombeau-Ito’s SDE. Using SLDP we present a new approach to construct the Bellman function ????(????, ????) and optimal control ????(????, ????) directly by way of using strong large deviations principle for the solutions Colombeau-Ito’s SDE. As important application such SLDP, the generic imperfect dynamic models of air-to-surface missiles are given in addition to the related simple guidance law. A four, examples have been illustrated proposed (...) approach and corresponding numerical simulations have been illustrated and analyzed. Using SLDP approach, Jumps phenomena, in financial markets, also is considered. Jumps phenomena, in financial markets is explained from the first principles, without any reference to Poisson jump process. In contrast with a phenomenological approach we explain such jumps phenomena from the first principles, without any reference to Poisson jump process. (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 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.

Some conditions are given to ensure that for a jump homogeneous Markov process $\{X(t),t\ge 0\}$ the law of the integral functional of the process $T^{-1/2} \int^T_0\varphi(X(t))dt$ converges to the normal law $N(0,\sigma^2)$ as $T\to \infty$, where $\varphi$ is a mapping from the state space $E$ into $\bbfR$.

The Generalized Poisson Distribution (GPD) adds an extra parameter to the usual Poisson distribution. This parameter induces a loss of homogeneity in the stochastic processes modeled by the distribution. Thus, the generalized distribution becomes an useful model for counting processes where the occurrence of events is not homogeneous. This model creates the need for an inferential procedure, to test for the value of this extra parameter. The FBST (Full Bayesian Significance Test) is a Bayesian hypotheses test procedure, capable (...) of providing an evidence measure on sharp hypotheses (where the dimension of the parametric space under the null hypotheses is smaller than that of the full parametric space). The goal of this work is study the empirical properties of the FBST for testing the nullity of extra parameter of the generalized Poisson distribution. Numerical experiments show a better performance of FBST with respect to the classical likelihood ratio test, and suggest that FBST is an efficient and robust tool for this application. (shrink)

Central limit theorem for the functional of jump Markov process. Nguyễn Văn Hữu, Vương Quân Hoàng và Trần Minh Ngọc. Báo cáo: Hội nghị toàn quốc lần thứ III “Xác suất - Thống kê: Nghiên cứu, ứng dụng và giảng dạy” (tr. 34). Ba Vì, Hà Tây, ngày 12-14 tháng 05 năm 2005. Viện Toán học / Trường Đại học Khoa học tự nhiên / Đại học Quốc gia Hà Nội.

This article presents important properties of standard discrete distributions and its conjugate densities. The Bernoulli and Poisson processes are described as generators of such discrete models. A characterization of distributions by mixtures is also introduced. This article adopts a novel singular notation and representation. Singular representations are unusual in statistical texts. Nevertheless, the singular notation makes it simpler to extend and generalize theoretical results and greatly facilitates numerical and computational implementation.

This paper shows how reasoning from best explanation combines with linguistic and factual presumptions during the process of retrieving a speaker’s intention. It is shown how differences between presumptions need to be used to pick the best explanation of a pragmatic manifestation of a dialogical intention. It is shown why we cannot simply jump to an interpretative conclusion based on what we presume to be the most common purpose of a speech act, and why, in cases of indirect (...) speech acts, we need to depend on an abductive process of interpretation. (shrink)

In this paper, I offer one example of conceptual change. Specifically, I contend that the discovery that viruses could cause cancer represents an excellent example of branch jumping, one of Thagard’s nine forms of conceptual change. Prior to about 1960, cancer was generally regarded as a degenerative, chronic, non-infectious disease. Cancer causation was therefore usually held to be a gradual process of accumulating cellular damage, caused by relatively non-specific component causes, acting over long periods of time. Viral infections, on (...) the other hand, were generally understood to be acute processes, whereby single, specific and necessary causal agents acted alone to produce disease. However, during the 1960s and 1970s, a number of cancers were discovered to have an infectious aetiology. Of particular note were two—Burkitt’s lymphoma and cervical cancer—which I will discuss in detail later in this piece. Together, these discoveries led, in the short term, to a tentative aetiological reclassification of some types of cancer as infectious diseases and, in the longer term, to a full-blown reclassification of cancer as an aetiological disease branch in its own right. This process of reclassification forms the empirical basis for my concluding remarks on the influence of classification upon causation in medicine. Through this, I aim to demonstrate that conceptual change, far from being a purely abstract concern of the philosopher of science, is of substantial import to scientific practitioners. (shrink)

This paper is the first major and a thorough study on the Merger & Acquisition (M&A) activities in Vietnam’s emerging market economy, covering almost entirely the M&A history after the launch of Doi Moi. The surge in these activities since mid-2000s by no means incidentally coincides with the jump in FDI and FPI inflows into the nation. M&A industry in Vietnam has its socio-cultural traits that could help explain economic happenings, with anomalies and transitional characteristics, far better than even (...) the most complete set of empirical data. Proceeds from the sales of existing assets and firms have mainly flowed into the highly speculative industries of securities, banking, non-bank financials, portfolio investments and real estates. The impact of M&A on Vietnam’s long-term prosperity is thus highly questionable. An observable high degree of volatility in the M&A processes would likely blow out the high ex ante expectations by many speculators, when ex post realizations finally arrive. The effect of the past M&A evolution in Vietnam has been indecisively positive or negative, with significant presence of rent-seeking and likelihood of causing destructive entrepreneurship. From a socio-economic and cultural view, the degree of positive impacts may result in domestic entrepreneurship which will perhaps be the single most important indicator. (shrink)

The paper discusses the philosophical conclusions, which the interrelation between quantum mechanics and general relativity implies by quantum measure. Quantum measure is three-dimensional, both universal as the Borel measure and complete as the Lebesgue one. Its unit is a quantum bit (qubit) and can be considered as a generalization of the unit of classical information, a bit. It allows quantum mechanics to be interpreted in terms of quantum information, and all physical processes to be seen as informational in a generalized (...) sense. This implies a fundamental connection between the physical and material, on the one hand, and the mathematical and ideal, on the other hand. Quantum measure unifies them by a common and joint informational unit. Furthermore the approach clears up philosophically how quantum mechanics and general relativity can be understood correspondingly as the holistic and temporal aspect of one and the same, the state of a quantum system, e.g. that of the universe as a whole. The key link between them is the notion of the Bekenstein bound as well as that of quantum temperature. General relativity can be interpreted as a special particular case of quantum gravity. All principles underlain by Einstein (1918) reduce the latter to the former. Consequently their generalization and therefore violation addresses directly a theory of quantum gravity. Quantum measure reinterprets newly the “Bing Bang” theories about the beginning of the universe. It measures jointly any quantum leap and smooth motion complementary to each other and thus, the jump-like initiation of anything and the corresponding continuous process of its appearance. Quantum measure unifies the “Big Bang” and the whole visible expansion of the universe as two complementary “halves” of one and the same, the set of all states of the universe as a whole. It is a scientific viewpoint to the “creation from nothing”. (shrink)

MỘT SỐ QUÁ TRÌNH NGẪU NHIÊN CÓ BƯỚC NHẢY -/- Hoàng Thị Phương Thảo -/- Luận án Tiến sỹ -/- TRƯỜNG ĐẠI HỌC KHOA HỌC TỰ NHIÊN ĐẠI HỌC QUỐC GIA HÀ NỘI -/- Hà Nội - 2015 .

A new Evidence Test is applied to the problem of testing whether two Poisson random variables are dependent. The dependence structure is that of Holgate’s bivariate distribution. These bivariate distribution depends on three parameters, 0 < theta_1, theta_2 < infty, and 0 < theta_3 < min(theta_1, theta_2). The Evidence Test was originally developed as a Bayesian test, but in the present paper it is compared to the best known test of the hypothesis of independence in a frequentist framework. It (...) is shown that the Evidence Test is considerably more powerful when the correlation is not too close to zero, even for small samples. (shrink)

Where $\underline{a}$ is a Turing degree and ξ is an ordinal $ , the result of performing ξ jumps on $\underline{a},\underline{a}^{(\xi)}$ , is defined set-theoretically, using Jensen's fine-structure results. This operation appears to be the natural extension through $(\aleph_1)^{L^\underline{a}}$ of the ordinary jump operations. We describe this operation in more degree-theoretic terms, examine how much of it could be defined in degree-theoretic terms and compare it to the single jump operation.

Part of the draw of athletics is its straightforwardness. There are nuances to competitions to make them more sporting contests, but at the end of a long jump competition whomever records the longest jump should win. Unfortunately, a recent rule-change at the highest level of the sport – the “Final 3” format – undermined this simplicity for the horizontal jumps and the throws for some of the 2020 and much of the 2021 seasons. While fortunately this rule was (...) largely reverted within days of the initial submission of this paper, it’s still valuable to critically evaluate why such a rule is problematic so as to better understand of the value of sporting competitions and give guidance on future rule changes, be they in athletics or other sports. To that end, we will be drawing from the literature on the purpose and value of competitions and coupling that with simulations based on data from actual top-tier long jump competitions to show that the Final 3 format makes for significantly worse competitions than the standard format. (shrink)

John White (2016) defends the UK private school system from the accusation that it allows an unfair form of ‘queue jumping’ in university admissions. He offers two responses to this accusation, one based on considerations of harm, and one based on meritocratic distribution of university places. We will argue that neither response succeeds: the queue-jumping argument remains a powerful case against the private school system in the UK. We begin by briefly outlining the queue-jumping argument (§1), before evaluating White’s no-harm (...) (§2) and meritocracy (§3) arguments. (shrink)

Báo Khoa học & Phát triển ngày 23-2 đăng một bài ngắn nhưng thú vị và rất giá trị của TS Phạm Hiệp, viết về trải nghiệm và suy ngẫm qua nhận biết những phát kiến mới, nhỏ (nhưng “hạt tiêu”) trong công việc nghiên cứu khoa học.Bài viết rõ ràng phản ánh một dáng điệu tăng trưởng tư duy trong tổng thể tiếp cận nhận thức luận, một trong ba trụ cột quan trọng của triết học khoa học. Trong (...) bài viết ngắn để tiếp dòng suy nghĩ của TS Phạm Hiệp, bàn tiếp về tính “động” của thể trạng nhỏ (từ quan sát “tĩnh”) là việc đáng làm, tôn tạo tiếp giá trị bài vừa nói trên Khoa học và Phát triển. Qua đó, chân dung của thực tế tương lai có thể sẽ rất khác, mặc dù chỉ bắt đầu nho nhỏ mà thôi. (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)

While some process philosophers have denigrated the emergent theory of mind, what they have denigrated has been ‘materialist’ theories of emergence. My contention is that one of the most important reasons for embracing process philosophy is that it is required to make intelligible the emergence of consciousness. There is evidence that this was a central concern of Whitehead. However, Whitehead acknowledged that his metaphysics was deficient in this regard. In this paper I will argue that to fully understand (...) the emergent theory of mind and its relation to process philosophy it is necessary to recast the whole history of modern philosophy in terms of efforts by philosophers grappling with the relationship between mind and body, or more broadly, consciousness and nature. This will involve granting a central place to Schelling’s philosophy, the ideas that influenced it and how Schelling’s insights were developed by subsequent philosophers. Process philosophy will then be seen as the tradition generated by efforts to transcend the opposition between idealism and materialism, and its promise in this regard, apart from anything else, is what makes it the most promising philosophy for the future. (shrink)

A widely debated issue in contemporary metaphysics is whether the modal profile of ordinary objects has to be explained in non-modal terms (that is, Thesis 1). However, how to solve such an issue with respect to occurrences – namely, processes and events – is a question that has been largely neglected in the current metaphysical debate. The general goal of this article is to start filling this gap. As a first result of the article, we make it plausible that, if (...) Thesis 1 holds for objects, then it also holds for processes and events. Then, we develop a metaphysical account of processes derived from Fine’s (1999, 2022) suggestions, according to which a process is a variable embodiment that is manifested by different events at the different times it goes on – namely, Thesis 2. We raised the challenge from the completion of a process that asks the Finean account of processes to explain relevant modal features of processes in non-modal terms. As a second result, we argue that four initially plausible strategies for solving such a challenge fall short of solving it. As a third result, we show that the theory of variable embodiments Fine formulates for objects must differ from the theory of variable embodiments that aims to model processes. We conclude by investigating some revisions to a theory of variable embodiments that aims to model processes. (shrink)

Predictive processing (PP) accounts of perception are unique not merely in that they postulate a unity between perception and imagination. Rather, they are unique in claiming that perception should be conceptualised in terms of imagination and that the two involve an identity of neural implementation. This paper argues against this postulated unity, on both conceptual and empirical grounds. Conceptually, the manner in which PP theorists link perception and imagination belies an impoverished account of imagery as cloistered from the external world (...) in its intentionality, akin to a virtual reality, as well as endogenously generated. Yet this ignores a whole class of imagery whose intentionality is directed on the actual environment—projected mental imagery—and also ignores the fact that imagery may be triggered crossmodally in a bottom-up, stimulus-driven way. Empirically, claiming that imagery and perception share neural circuitry ignores relevant clinical results in this area. These evidence substantial perception/imagery neural dissociations, most notably in the case of aphantasia. Taken together, the arguments here suggest that PP theorists should substantially temper, if not outright abandon, their claim to a perception/imagination unity. (shrink)

Monists and pluralists disagree concerning how many ordinary objects there are in a single situation. For instance, pluralists argue that a statue and the clay it is made of have different properties, and thereby are different. The standard monist’s response is to hold that there is just a single object, and that, under the description “being a statue”, this object is, e.g., aesthetically valuable, and that, under the description “being a piece of clay”, it is not aesthetically valuable. However, Fine (...) provided an ontological reading of the expression “an object under a description”: the theory of rigid embodiments. The debate between monists and pluralists reduplicates in the domain of ordinary occurrences, like walks and conferences. Specifically, they disagree whether an occurrence in progress (also called “process”) like John’s walk that is happening at tn is identical to some completed occurrence (also called “event”) like John’s walk that happened between, e.g., t1 and tn. Under the adoption of the pluralist’s position, the article aims to provide a novel theory of ordinary occurrences that develops the ontological reading of “under a description” to account for occurrences in progress and completed occurrences. As a first result, we formulate a theory according to which both occurrences in progress and completed occurrences are rigid embodiments. As a second result, we argue that the suggested theory is explanatorily powerful to the extent it solves two puzzles that we call “the Puzzle from the Completion of a Process” and “the Metaphysical-cum-Semantical Puzzle”. (shrink)

We introduce the predictive processing account of body representation, according to which body representation emerges via a domain-general scheme of (long-term) prediction error minimisation. We contrast this account against one where body representation is underpinned by domain-specific systems, whose exclusive function is to track the body. We illustrate how the predictive processing account offers considerable advantages in explaining various empirical findings, and we draw out some implications for body representation research.

Predictive processing models of perception take issue with standard models of perception as hierarchical bottom-up processing modulated by memory and attention. The predictive framework posits that the brain generates predictions about stimuli, which are matched to the incoming signal. Mismatches between predictions and the incoming signal – so-called prediction errors – are then used to generate new and better predictions until the prediction errors have been minimized, at which point a perception arises. Predictive models hold that all bottom-up processes are (...) signals conveying prediction errors to higher areas, which respond by updating their predictions. We take issue with this claim and argue that object recognition requires bottom-up processing that cannot be understood in terms of prediction errors. Along the way, we expand on previous work casting doubt on the framework's ability to account for attention. Specifically, we argue that the type of attention that allows us to rapidly extract the gist of an object or scene presents an additional challenge to the predictive approach. We conclude by considering how the framework may be augmented to avoid these problems. (shrink)

The study aimed to identify the knowledge management processes and their role in achieving competitive advantage at Al-Quds Open University. The study was based on the descriptive analytical method, and the study population consists of academic and administrative staff in each of the branches of Al-Quds Open University in (Tulkarm, Nablus and Jenin). The researchers selected a sample of the study population by the intentional non-probability method, the size of (70) employees. A questionnaire was prepared and supervised by a number (...) of specialists in order to obtain the results of the study. The study concluded that there is a positive direct relationship, that is, the higher the degree of application of knowledge management processes, the greater the degree of competitive advantage. Knowledge Technology came first with a score of 80.02% on all items. Competitive advantage came second with 81.74%. In the third place came "knowledge generation" where the total score on all paragraphs in this area (78.24%). In the fourth place, "knowledge transfer" (77.21%). "Developing and storing knowledge" came in fifth place (77.13%). "Acquisition of knowledge" came in sixth place (76.45%). Knowledge Organization ranked seventh (74.26%). The study recommended that the university should enable the employees to benefit from the experiences and expertise available to help generate knowledge. The University encourages the creation of knowledge through the system of incentives and open the way for creators to apply their creations and spread and invest in excellence and creativity. The university should design work performance levels based on the integration of knowledge and organize it according to policies that support freedom of research. The need for Palestinian universities to adopt a knowledge management approach. The need to adopt a system of incentives that rewards cognitive efforts, and give workers enough freedom to enable them to apply their knowledge. (shrink)

In a number of papers, Kit Fine introduced a theory of embodiment which distinguishes between rigid and variable embodiments, and has been successfully applied to clarify the ontological nature of entities whose parts may or may not vary in time. In particular, he has applied this theory to describe a process such as the erosion of a cliff, which would be a variable embodiment whose manifestations are the different states of erosion of the cliff. We find this theory very (...) powerful, and especially appropriate to capture the intuition that the same process may go on at different times. However, its formal principles have been subject to some criticisms, mainly concerning the mereological structure of a variable embodiment. Moreover, since the notion of variable embodiment is very general, simply saying that processes are variable embodiments is not enough to understand their ontological nature. To address these concerns, in this paper we proceed in two phases: first, we propose a revised version of Fine’s original theory adapted to the case of processes, which adopts a classical mereology instead of Fine’s hylomorphic mereology, and a temporalized constitution relation in place of Fine’s function of variable embodiment; second, we go deeper into the ontological nature of processes by revisiting the notions of homogeneity, intentionality, and telicity discussed in the literature, and propose an account based on ontological principles and not on semantic properties of predicates. This allows us to organize processes into a novel taxonomy based exclusively on their unity and individuation principles. (shrink)

I argue that virtue reliabilism and virtue responsibilism are complementary. They do not give competing accounts of epistemic virtue. Rather they explain the excellent functioning of different parts of our cognitive apparatus. Reliabilist virtue designates the excellent functioning of fast and context-specific Type 1 cognitive processes, while responsibilist virtue means an excellent functioning of effortful and reflective Type 2 cognitive processes. This account unifies reliabilist and responsibilist virtue theory. But the virtues are not unified by designating some epistemic norm that (...) both aim at. Instead, I unify them through their cognitive foundations. Because Type 1 and Type 2 cognition are complementary, reliabilist and responsibilist virtues are complementary. Thereby, this dual-process theory of epistemic virtue gives a naturalised account of virtues as well as an explanation of how reliabilism and responsibilism relate. This approach offers a solution for both the generality problem and the situationist challenge to virtue epistemology; additionally it preserves the epistemological autonomy of each virtue type. (shrink)

Most process theologians have rejected the creation of the world out of nothing, holding that our universe was created out of some antecedent universe. This article shows how on process grounds, and with faithfulness to much of what Whitehead had to say, process theologians can and should affirm the creation of our universe out of nothing. Standard process objections to this are refuted.

The central aim of this thesis is to confront the world-view of positivistic materialism with its nihilistic implications and to develop an alternative world-view based on process philosophy, showing how in terms of this, science and ethics can be reconciled. The thesis begins with an account of the rise of positivism and materialism, or ‘scientism’, to its dominant position in the culture of Western civilization and shows what effect this has had on the image of man and consequently on (...) ethical views. After having shown the basic weaknesses of this world-view, the positivist account of science is criticised and an alternative epistemology is developed in which the aim of disciplined inquiry is seen to be understanding. It is argued on the basis of this epistemology that science and metaphysics are indissociable, and that the materialist conception of being is open to challenge from a different ontology. Having reviewed the various conceptions of being which have been developed in the past, a version of process philosophy is outlined and it is argued that this promises to be far more effective than materialism as a foundation for the natural sciences. In particular it is shown how in terms of process philosophy it is possible to conceive of living, sentient organisms as having emerged from inanimate being. This provides the basis for the development of a conception of humanity as an emergent form of life. The human order is then seen as a process of becoming within nature with its own unique dynamics, irreducible to any other processes, involving both intentional and unintentional processes. It is shown how on the basis of this conception of humanity it is possible to develop an ethical theory and a critical social science, and in this way, to transcend the disjunction between science and ethics. -/- . (shrink)

Primary and secondary processes are the foundational axes of the Freudian mental apparatus: one horizontally as a tendency to associate, the primary process, and one vertically as the ability for perspective taking, the secondary process. Primary process mentation is not only supposed to be dominant in the unconscious but also, for example, in dreams. The present study tests the hypothesis that the mental activity during REM-sleep has more characteristics of the primary process, while during non-REM-sleep more (...) secondary process operations take place. Because the solving of a rebus requires the ability to non-contexually condensate the literal reading of single stimuli into a new one, rebus solving is a primary process operation by excellence. In a replication of the dream-rebus study of Shevrin and Fisher (1967), a rebus, which consisted of an image of a comb (German: “Kamm”) and an image of a raft (German: “Floß”), resulting in the German rebus word “kampflos” (Engl.: without a struggle), was flashed subliminally (at 1 ms) to 20 participants before going to sleep. Upon consecutive awakenings participants were asked for a dream report, free associations and an image description. Based on objective association norms, there were significantly more conceptual associations referring to Kamm and Floß indexing secondary process mentation when subjects were awakened from non-REM sleep as compared to REM-awakenings. There were not significantly more rebus associations referring to kampflos indexing primary process mentation when awakened from REM-sleep as compared to non-REM awakenings. However, when the associations were scored on the basis of each subject’s individual norms, there was a rebus effect with more idiosyncratic rebus associations in awakenings after REM than after non-REM-sleep. Our results support the general idea that REM-sleep is characterized by primary process thinking, while non-REM-sleep mentation follows the rules of the secondary process. (shrink)

Multisensory processing encompasses all of the various ways in which the presence of information in one sensory modality can adaptively influence the processing of information in a different modality. In Part I of this survey article, I begin by presenting a cartography of some of the more extensively investigated forms of multisensory processing, with a special focus on two distinct types of multisensory integration. I briefly discuss the conditions under which these different forms of multisensory processing occur as well as (...) their important perceptual consequences and interrelations. In Part II, I then turn to examining of some of the different possible ways in which the structure of conscious perceptual experience might also be characterized as multisensory. In addition, I discuss the significance of research on multisensory processing and multisensory consciousness for philosophical attempts to individuate the senses. (shrink)

One attractive feature of process reliabilism is its reductive potential: it promises to explain justification in entirely non-epistemic terms. In this paper, I argue that the phenomenon of epistemic defeat poses a serious challenge for process reliabilism’s reductive ambitions. The standard process reliabilist analysis of defeat is the ‘Alternative Reliable Process Account’ (ARP). According to ARP, whether S’s belief is defeated depends on whether S has certain reliable processes available to her which, if they had been (...) used, would have resulted in S not holding the belief in question. Unfortunately, ARP proves untenable. I show, by way of counterexample, that ARP fails to articulate either necessary or sufficient conditions on defeat. Process reliabilists must either provide an alternative reductive account of defeat or renounce their reductive aspirations. (shrink)

Is all explanations causal explanation? Puzzles about barometer readings "explain" storms and shadow lengths "explaining" flagpole heights make it attractive to think so. Wesley Salmon (1984) has endorsed this causal thesis. One way to test this thesis is to assess the explanatory import of pseudo-processes. I do so by discussing the concept of heritability, which measures a pseudo-process, and one role it played in the theory of natural selection: explaining response to selection. This will show, not just that heritability (...) has heuristic or predictive utility, but that it can be explanatory. Possible responses to this case are also discussed. (shrink)

In this essay, we aim to help clarify the nature of so-called 'occurrences' by attributing distinct modes of existence and persistence to processes and events. In doing so, we break with the perdurantism claimed by DOLCE’s authors and we distance ourselves from mereological analyzes like those recently conducted by Guarino to distinguish between 'processes' and 'episodes'. In line with the works of Stout and Galton, we first bring closer (physical) processes and objects in their way of enduring by proposing for (...) processes a notion of dynamic presence (contrasting with a static presence for objects). Then, on the events side, we attribute to them the status of abstract entities by identifying them with objects of thought (by individual and collective subjects), and this allows us to distinguish for themselves between existence and occurrence. We therefore identify them with psychological (or even social) endurants, which may contingently occur. (shrink)

Many philosophers claim that the neurocomputational framework of predictive processing entails a globally inferentialist and representationalist view of cognition. Here, I contend that this is not correct. I argue that, given the theoretical commitments these philosophers endorse, no structure within predictive processing systems can be rightfully identified as a representational vehicle. To do so, I first examine some of the theoretical commitments these philosophers share, and show that these commitments provide a set of necessary conditions the satisfaction of which allows (...) us to identify representational vehicles. Having done so, I introduce a predictive processing system capable of active inference, in the form of a simple robotic “brain”. I examine it thoroughly, and show that, given the necessary conditions highlighted above, none of its components qualifies as a representational vehicle. I then consider and allay some worries my claim could raise. I consider whether the anti-representationalist verdict thus obtained could be generalized, and provide some reasons favoring a positive answer. I further consider whether my arguments here could be blocked by allowing the same representational vehicle to possess multiple contents, and whether my arguments entail some extreme form of revisionism, answering in the negative in both cases. A quick conclusion follows. (shrink)

The majority of our linguistic exchanges, such as everyday conversations, are divided into turns; one party usually talks at a time, with only relatively rare occurrences of brief overlaps in which there are two simultaneous speakers. Moreover, conversational turn-taking tends to be very fast. We typically start producing our responses before the previous turn has finished, i.e., before we are confronted with the full content of our interlocutor’s utterance. This raises interesting questions about the nature of linguistic understanding. Philosophical theories (...) typically focus on linguistic understanding characterized either as an ability to grasp the contents of utterances in a given language or as outputs of this ability—mental states of one type or another. In this paper, I supplement these theories by developing an account of the process of understanding. I argue that it enables us to capture the dynamic and temporal aspect of understanding and reconcile philosophical investigations with empirical research on language comprehension. (shrink)

We begin by describing recent developments in the burgeoning discipline of applied ontology, focusing especially on the ways ontologies are providing a means for the consistent representation of scientific data. We then introduce Basic Formal Ontology (BFO), a top-level ontology that is serving as domain-neutral framework for the development of lower level ontologies in many specialist disciplines, above all in biology and medicine. BFO is a bicategorial ontology, embracing both three-dimensionalist (continuant) and four-dimensionalist (occurrent) perspectives within a single framework. We (...) examine how BFO-conformant domain ontologies can deal with the consistent representation of scientific data deriving from the measurement of processes of different types, and we outline on this basis the first steps of an approach to the classification of such processes within the BFO framework. (shrink)

In this paper I argue that even the most radical metaphysics of powers (such as that adopted by Mumford & Anjum, Cartwright, or Groff) are compatible with eternalism. I first offer a taxonomy of powers ontologies, and attempt to characterise the difference between moderate and radical powers ontologies – the latter are characterised by an emphasis on production and dynamicity. I consider an argument by C. Friebe to the effect that the productive character of powers is inconsistent with Eternalism and (...) find it wanting. I then elucidate the notion of dynamicity that radical powers theorists employ by making apparent their link with an ontology of irreducible processes. Finally, I respond to an argument by Donatella Donati to the effect that eternalism entails a reductive account of change which is inconsistent with process ontologies, and show that the the two are compatible. I conclude that we have no reason to think that radical powers metaphysics (and, a fortiori, every powers ontology) are not compatible with eternalism. (shrink)

This chapter explores to what extent some core ideas of predictive processing can be applied to the phenomenology of time consciousness. The focus is on the experienced continuity of consciously perceived, temporally extended phenomena (such as enduring processes and successions of events). The main claim is that the hierarchy of representations posited by hierarchical predictive processing models can contribute to a deepened understanding of the continuity of consciousness. Computationally, such models show that sequences of events can be represented as states (...) of a hierarchy of dynamical systems. Phenomenologically, they suggest a more fine-grained analysis of the perceptual contents of the specious present, in terms of a hierarchy of temporal wholes. Visual perception of static scenes not only contains perceived objects and regions but also spatial gist; similarly, auditory perception of temporal sequences, such as melodies, involves not only perceiving individual notes but also slightly more abstract features (temporal gist), which have longer temporal durations (e.g., emotional character or rhythm). Further investigations into these elusive contents of conscious perception may be facilitated by findings regarding its neural underpinnings. Predictive processing models suggest that sensorimotor areas may influence these contents. (shrink)

The work of Gregory Bateson offers a metaphysical basis for a “process psychology,” that is, a view of psychological practice and research guided by an ontology of becoming—identifying change, difference, and relationship as the basic elements of a foundational metaphysics. This article explores the relevance of Bateson's recursive epistemology, his re-conception of the Great Chain of Being, a first-principles approach to defining the nature of mind, and understandings of interaction and difference, pattern and symmetry, interpretation and context. Bateson's philosophical (...) contributions will be drawn into relationship with Wittgenstein's philosophy of language as use, Melnyk's theory of causal levels of explanation, Korzybski's account of map and territory, the rejection of the heuristic rigidity of substantialist ontologies, and a cybernetics communication science-informed approach to contextual bi-directionality of causality. We thereby arrive at an understanding of Bateson's process psychology that, given its ecological-systemic nature, is explanatorily applicable across the mind sciences. This process psychology equips us to answer the question: What is mind? Not by explanatory appeal to substantial entities contained within mind, but instead by recourse to the contextually relevant patterns for understanding mind to a particular purpose. We have thereby attended to the gulf between heuristics and fundamentals, between psychological models and an onto-epistemic account of reality. Insufficient attention has been given to characterising the vital nature of Bateson's philosophical oeuvre to psychological practice. This article draws out Bateson's relevance to establishing foundational principles for a process psychology capable of reinvigorating psychological thought. (shrink)

This paper aims to show that Selim Berker’s widely discussed prime number case is merely an instance of the well-known generality problem for process reliabilism and thus arguably not as interesting a case as one might have thought. Initially, Berker’s case is introduced and interpreted. Then the most recent response to the case from the literature is presented. Eventually, it is argued that Berker’s case is nothing but a straightforward consequence of the generality problem, i.e., the problematic aspect of (...) the case for process reliabilism (if any) is already captured by the generality problem. (shrink)

Nicholas Rescher’s way of understanding process philosophy reflects the ambitions of his own philosophical project and commits him to a conceptually ideal interpretation of process. Process becomes a transcendental idea of reflection that can always be predicated of our knowledge of the world and of the world qua known, but not necessarily of reality an sich. Rescher’s own taxonomy of process thinking implies that it has other variants. While Rescher’s approach to process philosophy makes it (...) intelligible and appealing to mainstream analytic philosophy, it leaves behind the more daring ideas of Bergson, James, and Whitehead, all of whom envisioned the primordial reality of process in a radical ontology of becoming. This variant of process thought can be construed as coherent and self-consistent, but not without relinquishing the correspondence theory of truth and embracing challenging ideas that bring us in close proximity to existentialism, apophatic theology, and Buddhism. (shrink)

In this paper I will argue that what makes our ordinary judgements about token causation true can be explicated in terms of interferences into quasi-inertial processes. These interferences and quasi-inertial processes can in turn be fully explicated in scientific terms. In this sense the account presented here is reductive. I will furthermore argue that this version of a process-theory of causation can deal with the traditional problems that process theories have to face, such as the problem of misconnection (...) and the problem of disconnection as well as with a problem concerning the mis-classification of pre-emption cases. (shrink)

Given certain well-known observations by Mach and Russell, the question arises what place there is for causation in the physical world. My aim in this chapter is to understand under what conditions we can use causal terminology and how it fi ts in with what physics has to say. I will argue for a disposition-based process-theory of causation. After addressing Mach’s and Russell’s concerns I will start by outlining the kind of problem the disposition based process-theory of causation (...) is meant to solve. In a second step I will discuss the nature of those dispositions that will be relevant for our question. In section 3 I will discuss existing dispositional accounts of causation before I proceed to present my own account (sections 4 to 6) and contrast it with traditional process-theories (section 7). (shrink)

A good definition of process tracing should highlight what is distinctive about process tracing as a methodology of causal inference. I look at eight criteria that are used to define process tracing in the methodological literature, and I dismiss all eight criteria as unhelpful (some because they are too restrictive, and others because they are vacuous). In place of these criteria, I propose four alternative criteria, and I draw a distinction between process tracing for the ultimate (...) aim of testing a start--end hypothesis versus process tracing as an ultimate end in itself. Although it is clear enough how the former method works, there is still much methodological work to be done in understanding the latter method as a distinctive method of causal inference, I argue. (shrink)

Predictive Processing theory, hotly debated in neuroscience, psychology and philosophy, promises to explain a number of perceptual and cognitive phenomena in a simple and elegant manner. In some of its versions, the theory is ambitiously advertised as a new theory of conscious perception. The task of this paper is to assess whether this claim is realistic. We will be arguing that the Predictive Processing theory cannot explain the transition from unconscious to conscious perception in its proprietary terms. The explanations offer (...) by PP theorists mostly concern the preconditions of conscious perception, leaving the genuine material substrate of consciousness untouched. (shrink)

Linguistics of Saying is to be analyzed in the speech act conceived as an act of knowing. The speaking, saying and knowing subject, based on contexts and the principles of congruency and trust in the speech of other speakers, will create meanings and interpret the sense of utterances supplying the deficiencies of language by means of the intellective operations mentally executed in the act of speech. In the intellective operations you can see three steps or processes: first the starting point, (...) intuition or aísthesis; second, the process of abstraction; and third, the inverse: the process of determination or fixing the construct created. (shrink)