This thesis consists of three papers examining determinants and implications of related party transactions (RPTs) in Vietnam, a transitional economy in South East Asia with features of concentrated state ownership and weak minority investor protection. Specifically, these papers describe RPTs and examine (i) the association between RPTs and state ownership, (ii) the association between the cost of corporate debt and RPTs, and the moderating role of state ownership on the association between the cost of debt and RPTs, and (iii) the (...) association between corporate tax avoidance and RPTs, and the moderating role of state ownership on this potential association. The first paper describes the nature and extent of RPTs in Vietnamese listed firms and examines the association between RPTs and state ownership. The results from this paper demonstrate that related party transactions are prevalent in Vietnam. Findings show that the presence of state ownership is related to a lower extent of RPTs. However, among firms with state ownership, the extent of RPTs is positively associated with percentage of state ownership. The second paper reveals that the cost of debt is higher in firms having a higher level of RPTs, implying that RPTs are viewed as a potential risk to firms from the point of view of lenders. However, the presence of state ownership can reduce the effect of RPTs on the cost of debt. The third paper provides evidence that firms with RPTs demonstrate more tax avoidance than their counterparts without RPTs. Further, among firms with RPTs, firms with a higher extent of related net credit and related sales are found to exhibit even higher levels of tax avoidance. However, the association between tax avoidance and RPTs is moderated by the presence of state ownership. Finally, in firms with RPTs, the presence of state ownership reduces tax avoidance measured by effective tax rates. (shrink)

This paper explores the possibility of a standard legal language (e.g. English) for a principled evolution of law in line with technological development. In doing so, reference is made to blockchain networks and smart contracts to emphasise the discontinuity with the liberal legal tradition when it comes to decentralisation and binary code language. Methodologically, the argument is built on the underlying relation between law, semiotics and new forms of media adding to natural language; namely: code and symbols. In what follows, (...) I will concentrate on the study of factors that explain why such approach can be fruitful for the future of law and innovation. I have three reasons for selecting this topic. The first is a more pragmatic reason, based on my current research of law as a linguistic phenomenon. Secondly, the topic does also touch the matter on binary code language, rivalrous to legal alphabetic language. Lastly, the study aims at emphasizing the pivotal role of the jurist as an interpreter in a changing society accommodating diverging realms of reality. The study is structured as follows. Firstly, a quick exam of the traits of blockchain networks would provide the contextual link to establish the arguments in support of the need of a standard legal language. Secondly, a comparison between liberal legal institutions and theory of semiotics is set to perceive their functioning and ascertain their limits in the light of todays unprecedented changes. Thirdly, a summary on blockchain networks’ legal features would constitute the thrust behind the idea of a uniform legal language. Methodologically, the argument does also establish some relations with classical laws of physics and philosophy of media. Its aim is to demonstrate how the suggested legal interpretation and semiotic-based approach can contribute to overcome existing stumbling blocks including, but not limited to, the lack of cooperation at the international level as well as the gap in State norms when it comes to innovation. In this sense, the proposed strategies do not intend to replace current advances in the legal thought. In contrast, it seeks to harmonise their results providing a methodical approach that can concur to inform a new technique to address new controversial issues. In practice, the proposed method regarding the adoption of a uniform legal language would lower transactive costs in terms of normative coordination in the matter of international cooperation and in the definition of applicable law among different legal systems. Alternatively, it might contribute to the convergence of legal systems and/or their underlying concepts. Differently put, article’s contribution can be envisaged in fostering juridical consistency with regards to different forms of languages’ coexistence. (shrink)

What does being money consist in? We argue that something is money if, and only if, it is typically acquired in order to realise the reduction in transaction costs that accrues in virtue of agents coordinating on acquiring the same thing when deciding what thing to acquire in order to exchange. What kinds of things can be money? We argue against the common view that a variety of things (notes, coins, gold, cigarettes, etc.) can be money. All monetary (...) systems are best interpreted as implementing the same basic protocol. Money, i.e. the thing that we coordinate on acquiring in order to lower our transaction costs, is, in all cases, a set of positions on an abstract mathematical object, namely a relative ratio scale. The things that we ordinarily call ‘money’ are merely records of positions on such a scale. (shrink)

In this Article, I propose a novel law and economics explanation of a deeply puzzling aspect of business organization in market economies. Why are virtually all firms organized as capital-managed and -owned (capitalist) enterprises rather than as labor-managed and -owned cooperatives? Over 150 years ago, J.S. Mill predicted that efficiency and other advantages would eventually make worker cooperatives predominant over capitalist firms. Mill was right about the advantages but wrong about the results. The standard explanation is that capitalist enterprise is (...) more efficient. Empirical research, however, overwhelmingly contradicts this. But employees almost never even attempt to organize worker cooperatives. I critique the explanations of the three leading analysts of the subject (N. Scott Arnold, Henry Hansmann, and Gregory Dow), all of whom offer are different transactions cost accounts, as logically defective and empirically inadequate. I then propose an explanation that has been oddly neglected in the literature, that the rarity of cooperatives is explained by the collective action problem identified by writers such as Mancur Olson. Labor management is a public good that generates the n-person prisoner’s dilemma which gives rational actors the incentive to create it in suboptimal (or no) amounts. I support this by reference to the empirical facts about the origin of existing cooperatives and show that this explanation requires no strong version of a questionable rational choice theory. This explanation is supplemented by the mere exposure or familiarity effect derived from social and cognitive psychology, which turns on the fact that labor managed firms are rare, in part because of the public goods problem, thus unfamiliar, which makes them less attractive and thus more likely to be rare. My account points advocates of labor management towards solutions such as institutional changes in incentives, which, however, themselves involve public goods issues. (shrink)

Two of the most important ideas in the philosophy of law are the “Coase Theorem” and the “Prisoner’s Dilemma.” In this paper, the authors explore the relation between these two influential models through a creative thought-experiment. Specifically, the paper presents a pure Coasean version of the Prisoner’s Dilemma, one in which property rights are well-defined and transactions costs are zero (i.e. the prisoners are allowed to openly communicate and bargain with each other), in order to test the truth value (...) of the Coase Theorem. In addition, the paper explores what effect (a) uncertainty, (b) exponential discounting, (c) and elasticity have on the behavior of the prisoners in the Coasean version of the dilemma. Lastly, the paper considers the role of the prosecutor (and third-parties generally) in the Prisoner’s Dilemma and closes with some parting thoughts about the complexity of the dilemma. The authors then conclude by identifying the conditions under which the Prisoner’s Dilemma refutes the Coase Theorem. (shrink)

The principle of fair play is widely thought to require simply that costs and benefits be distributed fairly. This gloss on the principle, while not entirely inaccurate, has invited a host of popular objections based on misunderstandings about fair play. Central to many of these objections is a failure to treat the principle of fair play as a transactional principle—one that allocates special obligations and rights among persons as a result of their interactions. I offer an interpretation of the (...) principle of fair play that emphasizes its similarities to another transactional principle: consent. This interpretation reveals that playing fair requires one to reciprocate specifically by following the rules of the cooperative scheme from which one benefits, just as consent requires one to act according to the terms of an agreement. I then draw on the comparison with consent to reply to some popular and persistent objections to the principle. (shrink)

Roemer's attempt to undermine the normative reasons that Marxists have thought exploitation important (domination, alienation, and inequality) is vitiated by several crucial errors. First, Roemer ignores the dimension of freedom which is Marx's main concern and replaces it with an interest in justice, which Marx rejected. This leads him to misconstrue the nature of exploitation as Marx understands it. Second, his procedure for disconnecting these evils from exploitation, or denying their importance, involves the methodological assumption that exploitation must strictly imply (...) these evils. He thus fails to see that exploitation may 'cause' domination, alienation, and inequality; this assumption and the focus on justice also lead him to overlook the sort of alienation that is most important to Marx and the way exploitation, as Marx understands it, does imply coercion. Roemer's alternative conception of exploitation thus fails to capture basic Marxist normative and explanatory concerns. But Roemer's insistence on the importance of justice and the need for an articulated alternative to capitalism are a necessary supplement to a Marxist account. (shrink)

Julian Koplin, drawing extensively on empirical data, has argued that vendors, even in well-regulated kidney markets, are likely to be significantly harmed. I contend that his reasoning to this conclusion is dangerously mistaken. I highlight two failures. First, Koplin is insufficiently attentive to the differences between existing markets and the regulated markets proposed by advocates. On the basis of this error, he wrongly concludes that many harms will persist even in a well-regulated system. Second, Koplin misunderstands the utilitarian assessment of (...) the market. He focuses on the costs and benefits of the transaction for the vendor. But, the relevant comparison is between an individual’s welfare across different courses of action, namely, vending and the nonvending alternative. Although Koplin’s empirically informed contribution is a welcome addition to this literature, the mistakes that pervade his interpretation of the data demand correction. (shrink)

AI companies are racing to create artificial general intelligence, or “AGI.” If they succeed, the result will be human-level AI systems that can independently pursue high-level goals by formulating and executing long-term plans in the real world. Leading AI researchers agree that some of these systems will likely be “misaligned”–pursuing goals that humans do not desire. This goal mismatch will put misaligned AIs and humans into strategic competition with one another. As with present-day strategic competition between nations with incompatible goals, (...) the result could be violent and catastrophic conflict. Existing legal institutions are unprepared for the AGI world. New foundations for AGI governance are needed, and the time to begin laying them is now, before the critical moment arrives. -/- This Article begins to lay those new legal foundations. It is the first to think systematically about the dynamics of strategic competition between humans and misaligned AGI. The Article begins by showing, using formal game-theoretic models, that, by default, humans and AIs will be trapped in a prisoner’s dilemma. Both parties’ dominant strategy will be to permanently disempower or destroy the other, even though the costs of such conflict would be high. -/- The Article then argues that a surprising legal intervention could transform the game theoretic equilibrium and avoid conflict: AI rights. Not just any AI rights would promote human safety. Granting AIs the right not to be needlessly harmed–as humans have granted to certain non-human animals–would, for example, have little effect. Instead, to promote human safety, AIs should be given those basic private law rights–to make contracts, hold property, and bring tort claims–that law already extends to non-human corporations. Granting AIs these economic rights would enable long-run, small-scale, mutually-beneficial transactions between humans and AIs. This would, we show, facilitate a peaceful strategic equilibrium between humans and AIs for the same reasons economic interdependence tends to promote peace in international relations. Namely, the gains from trade far exceed those from war. Throughout, we argue that human safety, rather than AI welfare, provides the right framework for developing AI rights. This Article explores both the promise and the limits of AI rights as a legal tool for promoting human safety in an AGI world. (shrink)

E-Government refers to the administration of Information and Communication Technologies (ICT) to the procedures and functions of the government with the objective of enhancing the transparency, efficiency and participation of the citizens. E-Government is tough systems that require distribution, protection of privacy and security and collapse of these could result in social and economic costs on a large scale. Many of the available e-government systems like electronic identity system of management (eIDs), websites are established at duplicated databases and servers. (...) An established validation and management system could face a single failure point and the system is prone to Distributed Denial of Service Attacks (DDoS), denial of service attacks (DoS), malware and other cyber attacks. The execution of a privacy preserving and a secure decentralized system is enabled by the block chain technology. Here any third-party organizations do not have any control over the transactions of the Government. With the help of block chain technology, new and existing data are encapsulated within ledger or blocks, which are evenly distributed through the network in an enduring and sustainable way. The privacy and security of information are improved with the help of block chain technology, where distribution and encryption of data are performed through the total network. This analytical paper maps out the analysis of the security in the e-government system, utilizing the block chain technology that provides privacy and security of information and thereby enhancing the trust among the public sector. Qualitative and theoretical analysis is made for the proposed topic and implications of privacy and security of the proposed system is made. (shrink)

Mental accounting is a concept associated with the work of Richard Thaler. According to Thaler, people think of value in relative rather than absolute terms. They derive pleasure not just from an object’s value, but also the quality of the deal – its transaction utility (Thaler, 1985). In addition, humans often fail to fully consider opportunity costs (tradeoffs) and are susceptible to the sunk cost fallacy. Why are people willing to spend more when they pay with a credit (...) card than cash (Prelec & Simester, 2001)? Why would more individuals spend $10 on a theater ticket if they had just lost a $10 bill than if they had to replace a lost ticket worth $10 (Kahneman & Tversky, 1984)? Why are people more likely to spend a small inheritance and invest a large one (Thaler, 1985)? According to the theory of mental accounting, people treat money differently, depending on factors such as the money’s origin and intended use, rather than thinking of it in terms of the “bottom line” as in formal accounting (Thaler, 1999). An important term underlying the theory is fungibility, the fact that all money is interchangable and has no labels. In mental accounting, people treat assets as less fungible than they really are. Even seasoned investors are susceptible to this bias when they view recent gains as disposable “house money” (Thaler & Johnson, 1990) that can be used in high-risk investments. In doing so, they make decisions on each mental account separately, losing out the big picture of the portfolio. (See also partitioning and pain of paying for ideas related to mental accounting.) . (shrink)

The study aims to determine the socio-demographic and debt profile of the public-school teachers in the Schools Division of Aklan, Philippines, their reasons on acquiring debt and perceived ways to avoid debts. This study utilized descriptive correlational research design utilizing a researcher-made instrument on socio-demographic profile, pattern of expenditures, debt profile covering the type of debts, total cost of debts, reasons for having debts and perceived ways to manage debts. The data gathered were tabulated and analyzed using the IBM Statistical (...) Package for Social Sciences (SPSS) version 26. The take-home pay of the teachers was only more than half of their gross income. Most of the spouses of the married teachers were employed but many of them have relatively lower income. Their monthly family income was higher than the reported average family income for 2022 and their expenditures are also relatively higher than the average family expenditures in provinces for 2022. Almost one-half of the income of the teachers was used to pay their debts – both thru automatic payroll deduction and thru personal transactions. The bigger the household size, the higher the expenditure because there were more needs and there were many people consuming commodities. The higher the family income, the bigger the expenditure since lifestyle often adjusts with income. Young; married teachers; those occupying higher position and longer tenure have higher cumulative debts. Increase in family expenditure could cause increase in the number of debts as linked to the Theory of Reasoned Action and Theory of Planned Behavior. High regard for education, health, and safety triggered teachers to have debts, which can only be avoided thru better money and lifestyle management and having additional source of income. (shrink)

Despite the many advantages that mobile money o ers to Small and Medium-sized Enterprises (SMEs) relative to traditional banking services, the majority of stakeholders of this platform have not yet maximised its use owing to several concerns not limited to trust, awareness, and even cost. To examine the factors justifying the adoption and usage of Mobile Money Services (MMS) among SMEs, the types of Mobile Money Services used by these SMEs, and the interdependences between these variables, this study adopted an (...) exploratory approach. The researchers elected to use a mixed-method approach, which necessitated the usage of a survey questionnaire and structured in-depth interviews. Representatives of 12 SMEs were interviewed during the qualitative phase to corroborate the 285 SMEs surveyed in the quantitative part of the study. Descriptive and inferential statistics were adopted to analyse the quantitative data using the Statistical Packages for Social Sciences version 26 (SPSS version 26). The researchers described the qualitative data according to themes, and the findings were combined after that. While no single factor was accountable, it emerged that accessibility, safety, and convenience were the main factors that entice SMEs in Douala, Cameroon to embrace mobile money services in the effort to receive money from clientele, pay suppliers, and purchase airtime for additional transactions (most preferred mobile money services). Furthermore, it was found that there was a statistically significant association between most of the motivating factors cited and the most preferred mobile money services used by SMEs in Douala. These findings validate the role that mobile money plays in promoting the inclusive finance agenda for SMEs, mainly in the context of emerging economies where the majority of people and businesses do not have access to banking services and therefore may be of interest to policymakers and different stakeholders. Furthermore, an identification of the types of mobile money services businesspersons mostly use in Douala, a business hub, may help to develop businesses by directing the stakeholders to agenda items of interest in the context of Cameroon. (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)

Today every organization is acting in a dynamic environment and in a world characterised by turbulent change and fierce competition due to technological advancement and the knowledge based economy, an organization must always ready to adapt and transform themselves so as to be able to confront the shifting needs of the new environment, more demanding customers, smarter workers, anticipating ability to changes, accelerating the development of new products, processes and services, changing technologies and customer expectations, businesses have realised the importance (...) of Customer Relationship Management in acquiring new customers, retain existing ones and maximize their lifetime value. The wide spread availability of the internet across the world has led airlines to use their corporate web-sites to bypass travel intermediaries and focus on online communication, information and transaction. The paper considers five dimensions of Web site quality-usability, web site design, service quality, information quality and enjoyment on a sample of 150 respondents from four airlines namely, Air India, Spicejet, Indigo and Jet Airways. Respondents consisted of 40 employed, 80 business men and 30 students. Overall, the majority of respondents are frequent, experienced Internet users and likely to be relatively good judges of Web quality. Analysis of results shows that customers’ priority about airlines website are changing. As the self-service, no-frills and low-cost trend for air travel has grown in recent years, so consumers have been driven less by service quality and more by easy access to good information packaged in an entertaining and fun "wrapper'. More over the airlines have pursued different strategies for their Web sites over the period of study .Air India rated badly for service quality and Jet Airways and Spice jet scored high on service and information quality. The paper suggests that careful management and selection of subjects to be placed on web site can retain the customers and reduce switching intentions. (shrink)

The world never stands still. There is always a Brownian movement of economic subjects and objects on the face of it. But, if we have been visualizing this movement over a relatively long period of time, then we can distinguish the acceleration and increase in the volume of movements along individual commodity routes, the growth and formation of new subjects of international economic relations. From time to time, "accelerators" of this movement appear, either in the form of new types of (...) energy to service production, or technologies to simplify the exchange and distribution of benefits. The market, controlled by the "invisible hand", is gradually taking over the whole world, and some new goods appear to meet the needs. We use technologies and devices described in unreal fantasy plots of classical literature already today in real life. The speed of change is exciting on the one hand and is frightening on the other hand. In the modern world, it would seem, everything is mobile. The quality and cost of transportation has no longer been a physical obstacle to any exchange and travel. The forms of modern financial transactions for service international economic relations, their speed and coverage are impressive. Enterprises, in terms of capitalization, exceed the national incomes of states and do not have spatial territorial boundaries, being the main players in international economic relations along with states, their associations and international organizations. Digitalization is no longer a challenge for society, but our present. It seems sometimes that the world allegedly wants to slow down the further development of mankind and creates obstacles in the form of wars, epidemics and crises. Such obstacles become challenges for the development of economic entities of all levels. Change always creates unexpected opportunities for someone and insurmountable restrictions for other one. Change always leads to a redistribution of forces. Changes are needed to overthink the nature and direction of movement. Changes are the certain reorganization of the world economic system. The world is always on the verge of changes. What will they be this time? (shrink)

The current increase of air pollution rates and its consequences of global warming, health problems and threats to human lives necessitate the continuous search for more efficient and cost effective gas monitoring devices. Devices that is easily available and implementable worldwide. In developing countries the cost and the availability of the equipment is one of the obstacles that contribute to not having an efficient monitoring system. Hence, modifying cheap and easily available devices to work as pollution monitoring system will be (...) an asset in this direction. In this work I am presenting the design of a computer based pollution detection and measuring system using cheap CO (Carbon Monoxide) alarms used in homes. The outcome is a cost-effective computer based CO monitoring system that is easily available and could be easily modified to work as a network based CO nose. A C# based program is also designed to show and log the sensor readings in an easy to use and read Window. (shrink)

By studying the effect of human resource development on strengthening the firm's total capabilities this literature review investigates the relationship between the development of human capabilities and company performance by studying the effects of human resource development on strengthening a firm’s total capabilities. To provide a thorough grasp of the subject, the review synthesizes and analyzes pertinent research articles, academic papers, and industry reports. SPSS version 22 statistical software was used for social sciences. Descriptive and inferential statistics were used to (...) analyze the questionnaire data. To attain a lasting competitive advantage, the assessment also emphasizes the significance of fostering a learning culture, adopting cutting-edge procedures, and putting in place efficient training and development programs. The main findings show that investing in the growth of human capabilities has a favorable impact on the success of the company, especially when those investments are made in conjunction with the growth of the organization's capabilities. Investing in an employee's skill and capability development boosts productivity, enhances innovation, reduces costs, fosters customer loyalty and satisfaction, and provides a company with a competitive advantage. (shrink)

The literature on pluralism in economics has focused on the benefits expected from the plurality of theories, methods, and frameworks. This overlooks half of the picture: the costs. Neither have the multifarious costs been systematically analyzed in philosophy of science. We begin rectifying this neglect. We discuss how the benefits of plurality and diversity in science presuppose distinct types of plurality and how various benefit and plurality types are associated with different types of costs. Finally, we ponder (...) how the general mechanisms that give rise to the costs of plurality and diversity are aggravated by various disciplinary characteristics of economics. (shrink)

Why do public philosophy in prisons? When we think about the value and aims of public philosophy there is a well-entrenched tendency to think in transactional terms. The academy has something of value that it aims to pass on or transmit to its clients. Usually, this transaction takes place within the confines of the university, in the form of transmission of valuable skills or knowledge passed from faculty to students. Public philosophy, construed within this transactional mindset, then consists in (...) passing on something valuable from inside the academy to the outside. In this paper, we reflect on our experiences of taking philosophy into prisons and argue that making the case for public philosophy in general, and philosophy in prisons in particular in these transactional terms risks obscuring what we take to be a distinctive and valuable outcome of public philosophy. Importantly, it risks obscuring what those who participate in a particular kind of public philosophy – including the professional philosophers – experience as valuable about the activity: its transformational potential. (shrink)

It is crucial to actively detect the risks of transactions in a financial company to improve customer experience and minimize financial loss. In this study, we compare different machine learning algorithms to effectively and efficiently predict the legitimacy of financial transactions. The algorithms used in this study were: MLP Repressor, Random Forest Classifier, Complement NB, MLP Classifier, Gaussian NB, Bernoulli NB, LGBM Classifier, Ada Boost Classifier, K Neighbors Classifier, Logistic Regression, Bagging Classifier, Decision Tree Classifier and Deep Learning. The dataset (...) was collected from Kaggle depository. It consists of 6362620 rows and 10 columns. The best classifier with unbalanced dataset was the Random Forest Classifier. The Accuracy 99.97%, precession 99.96%, Recall 99.97% and the F1-score 99.96%. However, the best classifier with balanced dataset was the Bagging Classifier. The Accuracy 99.96%, precession 99.95%, Recall 99.98% and the F1-score 99.96%. (shrink)

The diversity in agronomic practices being used by sugarcane producers in Brazil determines differences in economic performance and cost structure. The purpose of this study is to evaluate the cost of six systems of agronomic practices using fixed or variable rates for soil amendment, fertilizer, and defensive applications and assess the profitability of these systems at three scales of sugarcane production. We then describe the data sample related to the 2019–2020 harvest season and collected from fifty-five sugarcane producers in the (...) central-south region of Brazil. Thereafter, using a quantitative approach, a cost analysis was performed, and the cumulative frequency of the net revenue for the three scales of production (small, medium, and large), was calculated using a Monte Carlo simulation. The cost analysis indicated that fertilizer had the highest cost considering the agronomic practices adopted at the three scales of production analyzed. The cumulative frequency analysis results from the Monte Carlo simulation showed the highest net revenue per hectare for medium sugarcane producers. In addition, the presence of economies of scale was not confirmed because the lowest cost was found in small-scale sugarcane producers and the highest net revenue was obtained by medium-scale sugarcane producers. (shrink)

This article develops a detailed, empirically driven analysis of the nature of the transition costs incurred in becoming disabled. Our analysis of the complex nature of these costs supports the claim that it can be wrong to cause disability, even if disability is just one way of being different. We also argue that close attention to the nature of transition costs gives us reason to doubt that well-being, including transitory impacts on well-being, is the only thing that (...) should determine the wrongness of causing or removing disability. Non-welfare considerations also defeat the claim that it is always wrong to cause disability. The upshot of these conclusions is that closer attention to the nature of transition costs supports disabled people who strenuously contest the assumption that their well-being is lower than nondisabled people. It also suggests that, in addition, disabled people should contest their opponents’ narrow account of how we should make ethical decisions regarding causing or failing to prevent disability. (shrink)

Kerr coined the term ‘HARKing’ to refer to the practice of ‘hypothesizing after the results are known’. This questionable research practice has received increased attention in recent years because it is thought to have contributed to low replication rates in science. The present article discusses the concept of HARKing from a philosophical standpoint and then undertakes a critical review of Kerr’s twelve potential costs of HARKing. It is argued that these potential costs are either misconceived, misattributed to HARKing, (...) lacking evidence, or that they do not take into account pre- and post-publication peer review and public availability to research materials and data. It is concluded that it is premature to conclude that HARKing has led to low replication rates. (shrink)

The most part of the debates on Quantum Mechanics (QM) interpretation come out from the remains of a classical language based upon waves and particles. Such problems can find a decisive clarification in Quantum Field Theory (QFT), where the concept of “classical object” is replaced by an interaction networks. On the other hand, it is simpler to discuss about non-locality in QM than in QFT. We propose here the concept of transaction as a connection between theQM and QFT language (...) as well as the possibility to introduce quantum non-locality ab initio.We also mention the cosmological consequence of a non-local archaic vacuum here defined. (shrink)

-/- This chapter evaluates the ethical issues that using cost-effectiveness considerations to set animal health priorities might present, and its conclusions are cautiously optimistic. While using cost-effectiveness calculations in animal health is not without ethical pitfalls, these calculations offer a pathway toward more rigorous priority-setting efforts that allow money spent on animal well-being to do more good. Although assessing quality of life for animals may be more challenging than in humans, implementing prioritization based on cost-effectiveness is less ethically fraught.

This article considers some different views of fairness and whether they conflict with the use of a version of Cost Effectiveness Analysis (CEA) that calls for maximizing health benefits per dollar spent. Among the concerns addressed are whether this version of CEA ignores the concerns of the worst off and inappropriately aggregates small benefits to many people. I critically examine the views of Daniel Hausman and Peter Singer who defend this version of CEA and Eric Nord among others who criticize (...) it. I come to focus in particular on the use of CEA in allocating scarce resources to the disabled. (shrink)

My concern in this paper is with the claim that knowledge is a mental state – a claim that Williamson places front and centre in Knowledge and Its Limits. While I am not by any means convinced that the claim is false, I do think it carries certain costs that have not been widely appreciated. One source of resistance to this claim derives from internalism about the mental – the view, roughly speaking, that one’s mental states are determined by (...) one’s internal physical state. In order to know that something is the case it is not, in general, enough for one’s internal physical state to be a certain way – the wider world must also be a certain way. If we accept that knowledge is a mental state, we must give up internalism. One might think that this is no cost, since much recent work in the philosophy of mind has, in any case, converged on the view that internalism is false. This thought, though, is too quick. As I will argue here, the claim that knowledge is a mental state would take us to a view much further from internalism than anything philosophers of mind have converged upon. (shrink)

Purpose of review: What is the relationship between rationality and mental health? By considering the psychological literature on depressive realism and unrealistic optimism it was hypothesized that, in the context of judgments about the self, accurate cognitions are psychologically maladaptive and inaccurate cognitions are psychologically adaptive. Recent studies recommend being cautious in drawing any general conclusion about style of thinking and mental health. Recent findings: Recent investigations suggest that people with depressive symptoms are more accurate than controls in tasks involving (...) time perception and estimates of personal circumstances, but not in other tasks. Unrealistic optimism remains a robust phenomenon across a variety of tasks and domains, and researchers are starting to explore its neural bases. However, the challenge is to determine to what extent and in what way unrealistic optimism is beneficial. Summary: We should revisit the hypothesis that optimistic cognitions are psychologically adaptive, whereas realistic thinking is not. Realistic beliefs and expectations can be conducive to wellbeing and good functioning, and wildly optimistic cognitions have considerable psychological costs. (shrink)

This study addresses the issue of maintaining nutritional quality amidst financial hardship faced by families in Plateau State, Nigeria. Surveys research designed was used for the study. The study covers 3 local government areas in Plateau State, ensuring diverse representation. The sample size of 400 families residing in Plateau State was used. Questionnaire was used to collect data for the study which capture the demographic information, dietary habits, household budget allocation for food, and perceptions of nutritional value. Mean and standard (...) deviation was used to present result for the findings. The findings of the study revealed that that there should be cost-effective meal planning strategies in promoting healthy eating habits. Also, socioeconomic factors impact cost-effective meal planning in promoting healthy eating habits. Based on the findings, stakeholders, policymakers, and community organizations should implement interventions that support cost-effective meal planning, enhance nutritional literacy, and alleviate financial burdens on families in Plateau State. This study may empower families to make informed dietary choices and achieve better health outcomes despite economic constraints. (shrink)

Decision theorists generally object to “honoring sunk costs” – that is, treating the fact that some cost has been incurred in the past as a reason for action, apart from the consideration of expected consequences. This paper critiques the doctrine that sunk costs should never be honored on three levels. As background, the rationale for the doctrine is explained. Then it is shown that if it is always irrational to honor sunk costs, then other common and uncontroversial (...) practices are also irrational. Second, it is argued that there is no satisfactory way to make a distinction between the two kinds of cases. Third, a proposal is developed which would explain how it could be rational, under certain circumstances, to honor sunk costs. (shrink)

According to truthmaker theory, particular truths are true in virtue of the existence of particular entities. Truthmaker maximalism holds that this is so for all truths. Negative existential and other ‘negative’ truths threaten the position. Despite this, maximalism is an appealing thesis for truthmaker theorists. This motivates interest in parsimonious maximalist theories, which do not posit extra entities for truthmaker duty. Such theories have been offered by David Lewis and Gideon Rosen, Ross Cameron, and Jonathan Schaffer. But these theories cannot (...) be sustained, I’ll argue, and hence maximalism comes with a serious ontological cost. Neither Armstrong’s invocation of totality facts nor the Martin-Kukso line on absences can meet this cost satisfactorily. I’ll claim that negative facts are the best (and perhaps only) way out of the problem for the truthmaker maximalist. (shrink)

Cooperative behaviors within a group face the risk of being exploited by `free-riders,' individuals that reap the benefits produced by cooperators without paying the costs of cooperating. Free-riders are often perceived as a burden to the group, since the group's survival depends on tasks performed by cooperators. However, this paper challenges this perspective, arguing that an excess of cooperators may actually lower the efficiency and persistence of groups. The perspective presented in this paper has ramifications to broader issues in (...) philosophy, particularly the challenge of how to balance self-interest with the collective interests of the group. Ultimately, this paper seeks to highlight some of the subtle ways free-riders positively impact their groups, an aspect of free-riding that is often overlooked in discussions about cooperation. (shrink)

Demographic diversity might often be present in a group without group members noticing it. What are the epistemic effects if they do? Several philosophers and social scientists have recently argued that when individuals detect demographic diversity in their group, this can result in epistemic benefits even if that diversity doesn’t involve cognitive differences. Here I critically discuss research advocating this proposal, introduce a distinction between two types of detection of demographic diversity, and apply this distinction to the theorizing on diversity (...) in science. Focusing on ‘invisible’ diversity, I argue that in one common kind of group in science, if group members have full insight into their group’s diversity, this is likely to create epistemic costs. These costs can be avoided and epistemic benefits gained if group members only partly detect their group’s diversity. There is thus an epistemic reason for context-dependent limitations on scientists’ insight into the diversity of their group. (shrink)

Civil disobedience, despite its illegal nature, can sometimes be justified vis-à-vis the duty to obey the law, and, arguably, is thereby not liable to legal punishment. However, adhering to the demands of justice and refraining from punishing justified civil disobedience may lead to a highly problematic theoretical consequence: the debilitation of civil disobedience. This is because, according to the novel analysis I propose, civil disobedience primarily functions as a costly social signal. It is effective by being reliable, reliable by being (...) costly, and costly primarily by being punished. My analysis will highlight a distinctive feature of civil disobedience: civil disobedients leverage the punitive injustice they suffer to amplify their communicative force. This will lead to two paradoxical implications. First, the instability of the moral status of both civil disobedience and its punishment to the extent where the state may be left with no permissible course of action with regard to punishing civil disobedience. Second, by refraining from punishing justified civil disobedience, the state may render uncivil disobedience—illegal political activities that fall short of the standards of civil disobedience—potentially permissible. (shrink)

This paper examines a looming reproducibility crisis in the core of the hard sciences. Namely, it concentrates on molecular modeling and simulation (MMS), a family of methods that predict properties of substances through computing interactions on a molecular level and that is widely popular in physics, chemistry, materials science, and engineering. The paper argues that in order to make quantitative predictions, sophisticated models are needed which have to be evaluated with complex simulation procedures that amalgamate theoretical, technological, and social factors (...) – leading to problems with reproducibility. Thus, for methodological reasons, the predictive success causes a reproducibility problem. (shrink)

Purpose - The aim of this research was to investigate the effect of transformational leadership and transactional contingent reward as complementary, but distinct, forms of leadership on facets of organizational identification via the perception of innovation and goal organizational values. Design/methodology/approach – Three studies were carried out implementing either a measurement of mediation or experimental-causal-chain design to test for the hypothesized effects. Findings - The measurement of mediation study showed that transformational leadership had a positive direct and indirect effect, via (...) innovation value orientation, on cognitive identification, whereas transactional contingent reward was more strongly related to affective, rather than cognitive, identification, and goal orientation was a mediator of their link. The findings of the two experimental-causal-chain studies further supported the hypothesized effects. Transformational leadership was found to lead subordinates to perceive the culture as more innovative compared to transactional contingent reward, whereas transactional contingent reward led employees to perceive the culture as more goal, than innovation, oriented. Finally, innovation, compared to goal, value orientation increased cognitive identification, while goal orientation facilitated affective, rather than cognitive, identification. Implications - The practical implications involve the development of strategies organizations can apply, such as leadership training programs, to strengthen their ties with their employees, which, in turn, may have a positive impact on in-role, as well as extra-role, behaviors. Originality/Value – The originality of this research concerns the identification of distinct mechanisms explaining the effect of transformational leadership and transactional contingent reward on cognitive and affective identification applying an organizational culture perspective and a combination of measurement and causal mediation designs. (shrink)

Business and Economic textbooks warn against committing the Sunk Cost Fallacy: you, rationally, shouldn't let unrecoverable costs influence your current decisions. In this paper, I argue that this isn't, in general, correct. Sometimes it's perfectly reasonable to wish to carry on with a project because of the resources you've already sunk into it. The reason? Given that we're social creatures, it's not unreasonable to care about wanting to act in such a way so that a plausible story can be (...) told about you according to which your diachronic behavior doesn't reveal that you've suffered, what I will call, diachronic misfortune. Acting so as to hide that you've suffered diachronic misfortune involves striving to make yourself easily understood while disguising any shortcomings that might damage your reputation as a desirable teammate. And making yourself easily understood to others while hiding your flaws will, sometimes, put pressure on you to honor sunk costs. (shrink)

The costs of agricultural inputs added to those of labor represent almost a third of the total cost of Brazilian sugarcane production. This study analyzes the behavior of the price per ton of sugarcane in Brazil, relating it to the main production costs of this cultivation. Twelve price indicators from January 2015 to December 2020 were evaluated. First, the data were adjusted to a multiple linear regression model to identify the significant variables on variation in the price per (...) ton of sugarcane. Then, the Monte Carlo simulation was used to measure the level of certainty of occurrence of these variables, and forecasts were obtained from the adjustment of ARIMA models. The results showed the influence of the costs of diesel oil, two agricultural pesticides, and daily laborers on the price of sugarcane, besides an increasing trend of its, providing relevant short-term projections for decision-making about investments in the agribusiness sector. (shrink)

The Affordable Care Act (ACA) may be the most important health law statute in American history, yet much of the most prominent legal scholarship examining it has focused on the merits of the court challenges it has faced rather than delving into the details of its priority-setting provisions. In addition to providing an overview of the ACA’s provisions concerning priority setting and their developing interpretations, this Article attempts to defend three substantive propositions. First, I argue that the ACA is neither (...) uniformly hostile nor uniformly friendly to efforts to set priorities in ways that promote cost and quality. Second, I argue that the ACA does not take a single, unified approach to priority setting; rather, its guidance varies depending on the aspect of the health care system at issue (Patient Centered Outcomes Research Institute, Medicare, essential health benefits) and the factors being excluded from priority setting (age, disability, life expectancy). Third, I argue that cost-effectiveness can be achieved within the ACA's constraints, but that doing so will require adopting new approaches to cost-effectiveness and priority setting. By limiting the use of standard cost-effectiveness analysis, the ACA makes the need for workable rivals to cost-effectiveness analysis a pressing practical concern rather than a mere theoretical worry. (shrink)

Decision-making regarding healthcare expenditure hinges heavily on an individual's health status and the certainty about the future. This study uses data on propensity of general health exam (GHE) spending to show that despite the debate on the necessity of GHE, its objective is clear—to obtain more information and certainty about one’s health so as to minimise future risks. Most studies on this topic, however, focus only on factors associated with GHE uptake and overlook the shifts in behaviours and attitudes regarding (...) different levels of cost. To fill the gap, this study analyses a dataset of 2068 subjects collected from Hanoi (Vietnam) and its vicinities using the baseline-category logit method. We evaluate the sensitivity of Vietnamese healthcare consumers against two groups of factors (demographic and socioeconomic-cognitive) regarding payment for periodic GHE, which is not covered by insurance. Our study shows that uninsured, married and employed individuals are less sensitive to cost than their counterparts because they value the information in reducing future health uncertainty. The empirical results challenge the objections to periodic health screening by highlighting its utility. The relevance of behavioural economics is further highlighted through a look at the bounded rationality of healthcare consumers and private insurance companies in using and providing the service, respectively. (shrink)

Suppose that you are trying to pursue a morally worthy goal, but cannot do so without incurring some moral costs. At the outset, you believed that achieving your goal was worth no more than a given moral cost. And suppose that, time having passed, you have wrought only harm and injustice, without advancing your cause. You can now reflect on whether to continue. Your goal is within reach. What's more, you believe you can achieve it by incurring—from this point (...) forward—no more cost than it warranted at the outset. If you now succeed, the total cost will exceed the upper bound marked at the beginning. But the additional cost from this point is below that upper bound. And the good you will achieve is undiminished. How do the moral costs you have already inflicted bear upon your decision now? (shrink)

Costly scientific work and its publication and declining funding rates worldwide make it not easily affordable for scientists, especially those from low-resource contexts.

In this paper I discuss the costs and benefits of confabulation, focusing on the type of confabulation people engage in when they offer explanations for their attitudes and choices. What makes confabulation costly? In the philosophical literature confabulation is thought to undermine claims to self-knowledge. I argue that when people confabulate they do not necessarily fail at mental-state self-attributions, but offer ill-grounded explanations which often lead to the adoption of other ill-grounded beliefs. What, if anything, makes confabulation beneficial? As (...) people are unaware of the information that would make their explanations accurate, they are not typically in a position to acknowledge their ignorance or provide better-grounded explanations for their attitudes and choices. In such cases, confabulating can have some advantages over offering no explanation because it makes a distinctive contribution to people’s sense of themselves as competent and largely coherent agents. This role of ill-grounded explanations could not be as easily played by better-grounded explanations should these be available. In the end, I speculate about the implications of this conclusion for attempting to eliminate or reduce confabulation. (shrink)

I defend the thesis that friendship can constitutively require epistemic irrationality against a recent, forceful challenge, raised by proponents of moral and pragmatic encroachment. Defenders of the “encroachment strategy” argue that exemplary friends who are especially slow to believe that their friends have acted wrongly are simply sensitive to the high prudential or moral costs of falsely believing in their friends’ guilt. Drawing on psychological work on epistemic motivation (and in particular on the notion of “need for closure”), I (...) propose a different picture of what friendship requires in the doxastic realm. I argue that contrary to what the encroachment strategy suggests, exemplary friends’ belief formation ought not be guided by a concern with accuracy or error avoidance, but instead by a need to avoid a “specific closure” – namely, a need to avoid concluding in their friends’ guilt. I propose that exemplary friendship often generates a defeasible, doxastic obligation to exemplify such a need, despite its inherent corrupting effects on exemplary friends’ epistemic faculties. (shrink)

In the history of external information systems, the World Wide Web presents a significant change in terms of the accessibility and amount of available information. Constant access to various kinds of online information has consequences for the way we think, act and remember. Philosophers and cognitive scientists have recently started to examine the interactions between the human mind and the Web, mainly focussing on the way online information influences our biological memory systems. In this article, we use concepts from the (...) extended cognition and distributed cognition frameworks and from transactive memory theory to analyse the cognitive relations between humans and the Web. We first argue that while neither of these approaches neatly capture the nature of human-Web interactions, both offer useful concepts to describe aspects of such interactions. We then conceptualize relations between the Web and its users in terms of cognitive integration, arguing that most current Web applications are not deeply integrated and are better seen as a scaffold for memory and cognition. Some highly personalised applications accessed on wearable computing devices, however, may already have the capacity for deep integration. Finally, we draw out some of the epistemic implications of our cognitive analysis. (shrink)

According to evidentialist views, credence in a proposition p should be proportional to the degree of evidential support that one has in favor of p. However, empirical evidence suggests that our credences are systematically sensitive to practical factors. In this article, I provide a cost–benefit analysis of credences' practical sensitivity. The upshot of this analysis is that credences sensitive to practical factors fare better than practically insensitive ones along several dimensions. All things considered, our credences should be sensitive to practical (...) factors. (shrink)

There are many good reasons to learn about the lives of people who have less social privilege than we do. We might want to understand their circumstances in order to have informed opinions on social policy, or to make our institutions more inclusive. We might also want to cultivate empathy for its own sake. Much of this knowledge is gained through social scientific or humanistic research into others' lives. The entitlement to theorize about or study the lives of marginalized others (...) is often granted under the presumption of academic freedom. This paper will not question whether academic freedom licenses us to do so in the first place ; instead, I will... (shrink)