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Results for 'Xiao F. Yang'
999 found
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- Virtue Ethics as Political Philosophy: The Structure of Ethical Theory in Early Chinese Philosophy.Yang Xiao - 2015 - In Lorraine L. Besser & Michael Slote (eds.), The Routledge Companion to Virtue Ethics. New York: Routledge. pp. 471-489.
- Rediscovering Republicanism in China: Beyond the Debate Between New Leftists and Liberals.Yang Xiao - 2003 - Contemporary Chinese Thought 34 (3):18-34.Lack of a historical sense is the hereditary defect of philosophers. … So what is needed from now on is historical philosophizing, and with it the virtue of modesty.
- 孟子的性之伦理学中的几个关键概念 (Mencius's Nature-Ethics).Yang Xiao - 2018 - In Bulletin of the Zhejiang University Institute for Advanced Study. Zhejiang University Institute for Advanced Study. pp. 4 - 48.
- The Pragmatic Turn: Articulating Communicative Practice in the Analects.Yang Xiao - 2005 - Oriens Extremus 45 (6):235-54.
- A Sustainability Improvement Strategy of Interconnected Data Centers Based on Dispatching Potential of Electric Vehicle Charging Stations.Xihao Wang, Xiaojun Wang, Yuqing Liu, Chun Xiao, Rongsheng Zhao, Ye Yang & Zhao Liu - 2022 - Sustainability 14 (11):6814.With the rapid development of information technology, the electricity consumption of Internet Data Centers (IDCs) increases drastically, resulting in considerable carbon emissions that need to be reduced urgently. In addition to the introduction of Renewable Energy Sources (RES), the joint use of the spatial migration capacity of IDC workload and the temporal flexibility of the demand of Electric Vehicle Charging Stations (EVCSs) provides an important means to change the carbon footprint of the IDC. In this paper, a sustainability improvement strategy (...)
- On the Myth of Cosmogony in Ancient China.James Daryl Sellmann - 1995 - Analecta Husserliana 47:211.Following Xiao Gongchuan and F. Mote, this paper discussed the reasons why there is no myth of cosmogony in China. It was written before the tomb excavations that contain some cosmogony essays.
- Collected Papers (on Neutrosophic Theory and Applications), Volume VI.Florentin Smarandache - 2022 - Miami, FL, USA: Global Knowledge.This sixth volume of Collected Papers includes 74 papers comprising 974 pages on (theoretic and applied) neutrosophics, written between 2015-2021 by the author alone or in collaboration with the following 121 co-authors from 19 countries: Mohamed Abdel-Basset, Abdel Nasser H. Zaied, Abduallah Gamal, Amir Abdullah, Firoz Ahmad, Nadeem Ahmad, Ahmad Yusuf Adhami, Ahmed Aboelfetouh, Ahmed Mostafa Khalil, Shariful Alam, W. Alharbi, Ali Hassan, Mumtaz Ali, Amira S. Ashour, Asmaa Atef, Assia Bakali, Ayoub Bahnasse, A. A. Azzam, Willem K.M. Brauers, Bui (...)
- Collected Papers (on various scientific topics), Volume XII.Florentin Smarandache - 2022 - Miami, FL, USA: Global Knowledge.This twelfth volume of Collected Papers includes 86 papers comprising 976 pages on Neutrosophics Theory and Applications, published between 2013-2021 in the international journal and book series “Neutrosophic Sets and Systems” by the author alone or in collaboration with the following 112 co-authors (alphabetically ordered) from 21 countries: Abdel Nasser H. Zaied, Muhammad Akram, Bobin Albert, S. A. Alblowi, S. Anitha, Guennoun Asmae, Assia Bakali, Ayman M. Manie, Abdul Sami Awan, Azeddine Elhassouny, Erick González-Caballero, D. Dafik, Mithun Datta, Arindam Dey, (...)
- Vitaminas e minerais na nutrição de bovinos.Joyanne Mirelle de Sousa Ferreira, Cleyton de Almeida Araújo, Rosa Maria dos Santos Pessoa, Glayciane Costa Gois, Fleming Sena Campos, Saullo Laet Almeida Vicente, Angela Maria dos Santos Pessoa, Dinah Correia da Cunha Castro Costa, Paulo César da Silva Azevêdo & Deneson Oliveira Lima - 2023 - Rev Colombiana Cienc Anim. Recia 15 (2):e969.RESUMO A alimentação é o fator que mais onera um sistema de produção animal. Assim, a utilização de diferentes estratégias de alimentação dos animais ainda é o grande desafio da nutrição animal, principalmente, levando em consideração as exigências nutricionais de diferentes categorias de ruminantes, em especial bovinos em regiões tropicais, haja vista que a sazonalidade na produção de forragens afeta diretamente a produção bovina, promovendo inadequação no atendimento das exigências nutricionais dos animais principalmente em minerais e vitaminas. Uma alimentação que (...)
- EFEITO DA APLICAÇÃO DO GNRH NO INÍCIO DOS PROTOCOLOS DE IATF, À BASE DE ESTRÓGENO E PROGESTERONA, SOBRE A PRENHEZ POR IATF DE VACAS LEITEIRAS MESTIÇAS.Lorrany Evelyn Tavares - 2023 - Dissertation, Universidade Federal de Uberlândia - UfuRESUMO A inseminação artificial em tempo fixo (IATF) é uma das biotecnologias de reprodução mais estudadas dos últimos anos, e a busca pelo equilíbrio entre a fisiologia animal e o controle hormonal fomenta uma série de estudos. Sendo assim, o objetivo com este trabalho foi avaliar a eficiência da aplicação do hormônio liberador de gonadotrofinas (GnRH) no dia zero (D0) do protocolo de IATF, a base de estrógeno e progesterona sobre a taxa de penhez por IATF. O experimento foi desenvolvido (...)
- Review dari 'Filsafat di Abad Baru'(Philosophy in the New Century) oleh John Searle (2008) (review revisi 2019). [REVIEW]Michael Richard Starks - 2020 - Selamat Datang di Neraka di Bumi: Bayi, Perubahan Iklim, Bitcoin, Kartel, Tiongkok, Demokrasi, Keragaman, Disgenik, Kesetaraan, Peretas, Hak Asasi Manusia, Islam, Liberalisme, Kemakmuran, Web, Kekacauan, Kelaparan, Penyakit, Kekerasan, Kecerdasan Buatan,.Sebelum mengomentari buku ini, saya menawarkan komentar tentang Wittgenstein dan Searle dan struktur Logis rasionalitas. Esai di sini sebagian besar sudah diterbitkan selama dekade terakhir (meskipun beberapa telah diperbarui), bersama dengan satu item yang tidak diterbitkan, dan tidak ada di sini akan datang sebagai kejutan bagi mereka yang telah terus dengan karyanya. Seperti W, ia dianggap sebagai filsuf Standup terbaik pada waktunya dan karya tulis yang solid sebagai batu dan terobosan di seluruh. Namun, kegagalannya untuk mengambil W (...)
- Exploring the recycled water acceptance based on the technological perspective of UTAUT2: a hybrid analytical approach.Xiao-Yu Xu, Yi-Bo Hu, Ya-Xuan Gao & Qing-Dan Jia - 2024 - Frontiers in Psychology 15:1384635.Introduction: The development of advanced sewage technologies empowers the industry to produce high-quality recycled water, which greatly influences human’s life and health. Thus, this study investigates the mechanism of individuals’ adoption of recycled water from the technology adoption perspective. -/- Methods: Employing the mixed method of structural equation modeling and artificial neural network analysis, we examined a research model developed from the extended Unified Theory of Acceptance and Use of Technology (UTAUT2) framework. To examine the research model, this study employs (...)
- Why de dicto desires are fetishistic.Xiao Zhang - 2021 - Ratio 34 (4):303-311.Ratio, Volume 34, Issue 4, Page 303-311, December 2021.
- Ramsey and Joyce on Deliberation and Prediction.Yang Liu & Huw Price - 2020 - Synthese 197:4365-4386.Can an agent deliberating about an action A hold a meaningful credence that she will do A? 'No', say some authors, for 'Deliberation Crowds Out Prediction' (DCOP). Others disagree, but we argue here that such disagreements are often terminological. We explain why DCOP holds in a Ramseyian operationalist model of credence, but show that it is trivial to extend this model so that DCOP fails. We then discuss a model due to Joyce, and show that Joyce's rejection of DCOP rests (...)
- Heart of DARCness.Yang Liu & Huw Price - 2019 - Australasian Journal of Philosophy 97 (1):136-150.There is a long-standing disagreement in the philosophy of probability and Bayesian decision theory about whether an agent can hold a meaningful credence about an upcoming action, while she deliberates about what to do. Can she believe that it is, say, 70% probable that she will do A, while she chooses whether to do A? No, say some philosophers, for Deliberation Crowds Out Prediction (DCOP), but others disagree. In this paper, we propose a valid core for DCOP, and identify terminological (...)
- A Taxonomy of the Complexities of Embedded Narratives in Film: From Literary Description Simulation to the Visuality-Triggered Self-Referential Fallacy.Yu Yang & Yarong Zeng - 2024 - Innovación y Expresión: Un Recorrido Por Las Artes, la Cultura Visual y la Inteligencia Artificial En la Era Digital.The article will be divided into three parts: 1. Explain the literary origins of the nesting pattern and its relationship to cinema narrative, and analyse the nesting tactics commonly used in films under Hollywood’s classical narrative. 2. Describe the variations in nested structures in films made in the 1990s, focusing on self-reflexive nesting, which emerged as a new model beyond conventional nesting during this period. 3. Distinguish the literary style of embedded narratives from the visual recognition mode and provide an (...)
- White Hole Observation: An Experimental Result.Yang I. Pachankis - 2022 - International Journal of Innovative Science and Research Technology 7 (2):779-790.The article presents the empirical confirmation to the black hole and white hole juxtapose theory. The author based the experiment on the multi- mission multi-spectral space telescope data conducted remotely with the NASA Data Challenge and Harvard- Smithsonian Micro-Observatory. Since the loss of the original manuscript, the author reformulated the mathematics during the research. The observation developed a resonance observation technique that observed the white hole to the moon’s direction with the sun. The data reduction of the white hole and (...)
- Some Concepts of Space, Time, and Lengths in Simplified Chinese*: An Analytical Linguistics Approach.Yang Immanuel Pachankis - 2022 - International Journal of Innovative Science and Research Technology 7 (6):550-562.The article explains on the two-year experiment after the author’s finalization of dissertation. The thesis of the dissertation was hidden in the last chapter with analytical linguistics. It was done so with the fascist development of the Chinese Communist regime with neo- Nazi characteristics. Since numerous prior warnings on the political downshifts & coup d’état in China was willfully ignored by the university, the linguistic innovations in dissertation found a balance between multilateralism and outer space (security). The experiments were conducted (...)
- Countable Additivity, Idealization, and Conceptual Realism.Yang Liu - 2020 - Economics and Philosophy 36 (1):127-147.This paper addresses the issue of finite versus countable additivity in Bayesian probability and decision theory -- in particular, Savage's theory of subjective expected utility and personal probability. I show that Savage's reason for not requiring countable additivity in his theory is inconclusive. The assessment leads to an analysis of various highly idealised assumptions commonly adopted in Bayesian theory, where I argue that a healthy dose of, what I call, conceptual realism is often helpful in understanding the interpretational value of (...)
- Instructions for Practical Living and Other Neo-Confucian WritingsThe Philosophy of Wang Yang-ming.David S. Nivison, Wang Yang-Ming, Wing-Tsit Chan & Frederick Goodrich Henke - 1964 - Journal of the American Oriental Society 84 (4):436.
- Motivational Internalism and The Second-Order Desire Explanation.Xiao Zhang - 2021 - European Journal of Analytic Philosophy 17 (1):(D2)5-18.Both motivational internalism and externalism need to explain why sometimes moral judgments tend to motivate us. In this paper, I argue that Dreier’ second-order desire model cannot be a plausible externalist alternative to explain the connection between moral judgments and motivation. I explain that the relevant second-order desire is merely a constitutive requirement of rationality because that desire makes a set of desires more unified and coherent. As a rational agent with the relevant second-order desire is disposed towards coherence, she (...)
- Deceptive Retrospective Narrative Strategy and Synchronistic Prerequisite: Case Study on The Design of Impossible Puzzles.Yu Yang - 2023 - Cinej Cinema Journal 11 (1):258-288.The deceptive clues in the impossible puzzle film confirm the viewer’s internal expectations and allow retrospective attributing. In the film, a transcendental object negates an internal expectation, causing a retrospective blockage. Retrospectivity does not stop there; the transcendental object reinterpreting deceptive clues in the associative area leads to repeated attribution. This article consists of three parts. First, it discusses impossible puzzle films in the context of complex narrative classification. The following section introduces the Jungian concept of synchronicity and illustrates how (...)
- The Sure-thing Principle and P2.Yang Liu - 2017 - Economics Letters 159:221-223.This paper offers a fine analysis of different versions of the well known sure-thing principle. We show that Savage's formal formulation of the principle, i.e., his second postulate (P2), is strictly stronger than what is intended originally.
- Why Should LGBTQI Marriage Be Legalized.Yang Pachankis - 2022 - Academia Letters 4 (5157).Traditional paradigm on marriage equality focused on a humanitarian appeal and was set as a path dependency model on marriage equality for the suppressed regions. However, such gender based focus has largely neglected the multilateral movements underlying the macro- political-economic structures that shaped law as a power political means. Consequentially, LGBTQI existence became marginalized from the public consciousness with structural realist state hierarchies that further undermines the fundamental freedoms of the LGBTQI popula- tion. This makes the question on LGBTQI equal (...)
- Incomplete Preference and Indeterminate Comparative Probabilities.Yang Liu - 2022 - British Journal for the Philosophy of Science 73 (3):795-810.The notion of comparative probability defined in Bayesian subjectivist theory stems from an intuitive idea that, for a given pair of events, one event may be considered “more probable” than the other. Yet it is conceivable that there are cases where it is indeterminate as to which event is more probable, due to, e.g., lack of robust statistical information. We take that these cases involve indeterminate comparative probabilities. This paper provides a Savage-style decision-theoretic foundation for indeterminate comparative probabilities.
- Moral Judgment and Motivation.Xiao Zhang - 2020 - Dissertation, University of BirminghamIn this thesis, I explore motivational internalism and externalism, which concern the relationship between moral judgments and motivation. I first introduce the basic terms and different forms of internalism and externalism, including the externalist objections to internalism based on the famous counterexamples. I then argue against externalism by defending and developing Michael Smith’s fetishism argument. I not only respond to the externalist objections to the fetishism argument but also further argue against different externalist explanations of moral motivation that intend to (...)
- Happiness is from the soul: The nature and origins of our happiness concept.Fan Yang - 2021 - Journal of Experimental Psychology: General 150 (2):276-288.What is happiness? Is happiness about feeling good or about being good? Across five studies, we explored the nature and origins of our happiness concept developmentally and crosslinguistically. We found that surprisingly, children as young as age 4 viewed morally bad people as less happy than morally good people, even if the characters all have positive subjective states (Study 1). Moral character did not affect attributions of physical traits (Study 2), and was more powerfully weighted than subjective states in attributions (...)
- A Multicultural Retrospective on Endogenous Chinese Sino-Centric Civilizational Becoming.Yang Cao - 2020 - Dissertation, Contemporary globalization is largely shaped by the predominant position and strength of the United States, and the concept of globalization is cast upon the polity and social aspects of P.R. China after Reform and Opening. Globalization, though substantially varied in a modern scene, is not without historical and cultural roots. The future holds anew, whereas newly arisen pieces of knowledge and information shed new light on the past, the blood and violence of the political progress on the Chinese soil. This (...)
- A Multi-wavelength Data Analysis with Multi-mission Space Telescopes.Yang I. Pachankis - 2022 - International Journal of Innovative Science and Research Technology 7 (1):701-708.The article summarizes the software tool on astrophysical analysis with multi-wavelength space telescope data. It recaps the evidence analysis conducted on the Kerr-Newman black hole (KNBH). It was written prior to the article Research on the Kerr-Newman Black Hole in M82 Confirms Black Hole and White Hole Juxtapose not soon after the experiment. The conducted analysis suggested Hawking radiation is caused by the movement of ergosurfaces of the BH and serves as the primal evidence for black hole and white hole (...)
- The Impact of Default Dependency and Collateralization on Asset Pricing and Credit Risk Modeling.Tim Xiao - manuscriptThis article presents a comprehensive framework for valuing financial instruments subject to credit risk. In particular, we focus on the impact of default dependence on asset pricing, as correlated default risk is one of the most pervasive threats in financial markets. We analyze how swap rates are affected by bilateral counterparty credit risk, and how CDS spreads depend on the trilateral credit risk of the buyer, seller, and reference entity in a contract. Moreover, we study the effect of collateralization on (...)
- What Subjective Experiences Determine the Perception of Falling Asleep During the Sleep Onset Period?C. M. Yang & Timothy Lane - 2010 - Consciousness and Cognition 19 (4):1084-1092.Sleep onset is associated with marked changes in behavioral, physiological, and subjective phenomena. In daily life though subjective experience is the main criterion in terms of which we identify it. But very few studies have focused on these experiences. This study seeks to identify the subjective variables that reflect sleep onset. Twenty young subjects took an afternoon nap in the laboratory while polysomnographic recordings were made. They were awakened four times in order to assess subjective experiences that correlate with the (...)
- Pricing Commodity Derivatives Based on A Factor Model.Tim Xiao - manuscriptThis article presents a new methodology for pricing and hedging commodity derivatives. A generic model calibration is provided. The calibration procedure consists of an offline step where the mean reversion rates, the ratio of the long and short factor volatilities and the correlation between the long and short factors are determined via historical analysis. This offline step is performed relatively infrequently. There’s also an online step of the calibration which happens every time the model is used to price an option (...)
- Are Intrinsic Properties Independent of Accompaniment?Xiao Li - 2021 - Journal of Human Cognition 5 (1):20-37.A combinatorial analysis of intrinsicality takes intrinsic properties to be independent of accompaniment: a property is intrinsic only if it is possible for a lonely or an accompanied thing to have it or lack it (I). Cameron argues that the combinatorial analysis in Langton & Lewis (1998) faces an epistemic circularity, which makes (I) suspicious. In this paper, I examine two approaches to free the combinatorial analyses from the circularity and find them all fail. Then I provide an outline of (...)
- Do Semantics Properties Involve the Future？.Yang Zhiwei - manuscriptTemporal Externalism posits the counterintuitive claim that the semantic properties of terms are influenced not only by present and past linguistic practices but also by future linguistic practices. In this paper, I primarily introduce a new challenge to Temporal Externalism, arguing that it presupposes a meta-belief about future linguistic practices but fails to explain how this belief relates to future properties. I then briefly highlight that Jussi Haukioja’s recent defense of Temporal Externalism still does not address the challenges posed by (...)
- Metaphors for Puzzles, Time, and Dreams: Ambiguous Narratives in Kaili Blues.Yu Yang - 2023 - International Journal of Literary Humanities 21 (2):1-20.In the film “Kaili Blues” by Bi Gan, intricate clues create complex connections between the plots steered by various characters. This relationship manifests in splitting time and alternating between dream and reality. This article analyzes Bi Gan’s approach to temporality and dreams by focusing on how he employs various film metaphors to deal with poetic narratives in his films. The article consists of three sections: First, it introduces the (puzzle) storytelling form of “Kaili Blues” as a promising area in many (...)
- Two Tales of Epistemic Models.Yang Liu - 2019 - Thought: A Journal of Philosophy 8 (4):291-302.This short paper has two parts. First,we prove a generalisation of Aumann’s surprising impossibility result in the context of rational decision making. We then move, in the second part, to discuss the interpretational meaning of some formal setups of epistemic models, and we do so by means of presenting an interesting puzzle in epistemic logic. The aim is to highlight certain problematic aspects of these epistemic systems concerning first/third-person asymmetry which underlies both parts of the story. This asymmetry, we argue, (...)
- Physical Signals and their Thermonuclear Astrochemical Potentials: A Review on Outer Space Technologies.Yang Immanuel Pachankis - 2022 - International Journal of Innovative Science and Research Technology 7 (5):669-674.The article reviews on the technical attributes on current technologies deployed in outer space and those that are being developed and mass produced. The article refutes the Chinese state-controlled Xinhua News’ propaganda several years ago on objecting America’s deployment of nuclear technologies in outer space with rigorous scientific evidence. Furthermore, the article warns on the dangers of physical signals applied in outer space technologies that can threaten the solar system, especially the Mozi quantum satellite with photon beams. The article concludes (...)
- Nightlife on New York Subway.Yang Immanuel Pachankis - manuscriptThe article reports on some societal observations conducted in 2019 on New York subways. With comparison to the subway management cases observed in Milan and mainland China, the article contends that the phenomenon in the New York public-funded transportation system reflects the spirit of equality in human with efficacy on the utility of the public-funded infrastructure. The message in the letter concludes that public & private fundings need to be drawn for the human development of the homeless population in the (...)
- “Somewhere I belong?” A study on transnational identity shifts caused by “double stigmatization” among Chinese international student returnees during COVID-19 through the lens of mindsponge mechanism.Ruining Jin & Xiao Wang - 2022 - Frontiers in Psychology 13:1018843.Chinese international students who studied in the United States received “double stigmatization” from American and Chinese authorities because of the “political othering” tactic during COVID-19. The research used a phenomenological approach to examine why and how specifically the transnational identity of Chinese international students in the United States shifted during the double stigmatization. The researcher conducted a total of three rounds of interviews with 15 Chinese international students who studied in the United States and returned to China between 2018 and (...)
- Are Reduplicative Qua-Operators Superfluous?Eric Yang - 2021 - European Journal for Philosophy of Religion 13 (2):145-162.Reduplicative approaches to the incarnation attempt to avoid the charge of incoherence by employing a qua-operator that operates on an entire assertion. The main objection to this approach is that it still yields a contradiction. Recently, two new reduplicative approaches have been offered that purport to avoid contradiction, one that offers a novel analysis of negative predications and the other which prevents conjoining divine and human predicates into a meaningful sentence. In this paper, I argue that these newer approaches either (...)
- Is the Jump-Diffusion Model a Good Solution for Credit Risk Modeling? The Case of Convertible Bonds.Tim Xiao - 2015 - International Journal of Financial Markets and Derivatives 4 (1):1-25.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 (...)
- Nationalism with Chinese Characteristics: Infliction of Condescension.Yang Immanuel Pachankis - manuscriptThe letter analyzes the country-specific structural stigma in the modern media development of People’s Republic of China. It raises the issues on unconventional cybersecurity risks in mental & psychological health with a lens of justice in gender & marriage, and critical discourses in the media environment with the Chinese revisionist nationalism. It studied media coercion in relation to the breaches of humanitarian law in the constitutionalism context of PRC, and adopted a critical theory approach to religion with the background of (...)
- The Valuation of Financial Derivatives Subject to Counterparty Risk and Credit Value Adjustment.Tim Xiao - manuscriptThis article presents a generic model for pricing financial derivatives subject to counterparty credit risk. Both unilateral and bilateral types of credit risks are considered. Our study shows that credit risk should be modeled as American style options in most cases, which require a backward induction valuation. To correct a common mistake in the literature, we emphasize that the market value of a defaultable derivative is actually a risky value rather than a risk-free value. Credit value adjustment (CVA) is also (...)
- The Valuation of Credit Default Swap with Counterparty Risk and Collateralization.Tim Xiao - manuscriptThis article presents a new model for valuing a credit default swap (CDS) contract that is affected by multiple credit risks of the buyer, seller and reference entity. We show that default dependency has a significant impact on asset pricing. In fact, correlated default risk is one of the most pervasive threats in financial markets. We also show that a fully collateralized CDS is not equivalent to a risk-free one. In other words, full collateralization cannot eliminate counterparty risk completely in (...)
- The Modern Origins & Sources of China’s Techtransfer.Yang Immanuel Pachankis - 2022 - International Journal of Scientific and Engineering Research 13 (7):18-25.The research identified the key element on P. R. China’s incentives in modern history on techtransfer practices. With reviewing on the state funding surrogacy in the natural sciences, the author identified the key militant coercive contracting clauses in the document of the National Natural Science Foundation of China. With its combined workings with the statutory & martial laws, the analysis takes a com- parative culture approach that partially counteracts the work of the “United Front Working Group of the CPC”, which (...)
- Simple Hyperintensional Belief Revision.F. Berto - 2018 - Erkenntnis 84 (3):559-575.I present a possible worlds semantics for a hyperintensional belief revision operator, which reduces the logical idealization of cognitive agents affecting similar operators in doxastic and epistemic logics, as well as in standard AGM belief revision theory. (Revised) belief states are not closed under classical logical consequence; revising by inconsistent information does not perforce lead to trivialization; and revision can be subject to ‘framing effects’: logically or necessarily equivalent contents can lead to different revisions. Such results are obtained without resorting (...)
- Bilateral Defaultable Financial Derivatives Pricing and Credit Valuation Adjustment.Tim Xiao - manuscriptThe 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 (...)
- An Economic Examination of Collateralization in Different Financial Markets.Tim Xiao - manuscriptThis paper attempts to assess the economic significance and implications of collateralization in different financial markets, which is essentially a matter of theoretical justification and empirical verification. We present a comprehensive theoretical framework that allows for collateralization adhering to bankruptcy laws. As such, the model can back out differences in asset prices due to collateralized counterparty risk. This framework is very useful for pricing outstanding defaultable financial contracts. By using a unique data set, we are able to achieve a clean (...)
- Pricing Financial Derivatives Subject to Multilateral Credit Risk and Collateralization.Tim Xiao - manuscriptThis article presents a new model for valuing financial contracts subject to credit risk and collateralization. Examples include the valuation of a credit default swap (CDS) contract that is affected by the trilateral credit risk of the buyer, seller and reference entity. We show that default dependency has a significant impact on asset pricing. In fact, correlated default risk is one of the most pervasive threats in financial markets. We also show that a fully collateralized CDS is not equivalent to (...)
- The Valuation of Interest Rate Swap with Bilateral Counterparty Risk.Tim Xiao - manuscriptThis 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.
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