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 (...) a leading web-survey company (Sojump) to collect 308 valid samples from the residents in mainland China. -/- Results: The structural equation modeling results verified the associations between the six predictors (performance expectancy, effort expectancy, social influence, facilitating conditions, environmental motivation, and price value), individuals’ cognitive and emotional attitudes, and acceptance intention. The artificial neural network analysis validates and complements the structural equation modeling results by unveiling the importance rank of the significant determinants of the acceptance decisions. -/- Discussion: The study provides theoretical implications for recycled water research and useful insights for practitioners and policymakers to reduce the environmental hazards of water scarcity. (shrink)

There seem to be cases where A believes p, and B believes not-p, but neither makes a mistake. This is known as faultless disagreement. According to the epistemic account, in at least some cases of faultless disagreement either A or B must believe something false, and the disagreement is faultless in the sense that each follows the epistemic norm. Recently, philosophers have raised various objections to this account. In this paper, I propose a new version of the epistemic account and (...) show how it can handle those objections. (shrink)

Lack of a historical sense is the hereditary defect of philosophers. … So what is needed from now on is historical philosophizing, and with it the virtue of modesty.

Veritism claims that only true beliefs are of basic epistemic value. Michael DePaul argues that veritism is false because it entails the implausible view that all true beliefs are of equal epistemic value. In this paper, I discuss two recent replies to DePaul's argument: one offered by Nick Treanor and the other by Kristoffer Ahlstrom-Vij and Stephen Grimm. I argue that neither of the two replies is successful. I propose a new response to DePaul's argument and defend my response against (...) a possible objection. (shrink)

In this paper, I wish to defend Aristotle’s naturalness thesis. First, I argue against the claim that the city fails to meet the criteria (e.g. separability, continuity, etc.) Aristotle sets for substantiality in the Metaphysics. Second, I examine the problem of the Principle of Transitivity of End in Aristotle’s telic argument for the naturalness of the city. I argue that the city exists for its own end. Finally, I discuss the problem of the legislator in the genesis of the city. (...) I argue that the legislator is only responsible for the actualization of the potential form that Nature has set forward. (shrink)

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

In this paper, I survey some recent literature produced by the established Chinese philosophers who regularly publish in Chinese philosophy journals and work in Mainland China. Specifically, I review the recent research of these philosophers in two areas: Chinese Philosophy and epistemology. In each area, I focus on two topics that have caught the attention of a lot of Chinese philosophers. I argue that the Chinese philosophers’ research on these topics has two prevalent problems: (i) a lot of arguments they (...) make are weak; (ii) they tend not to critically engage with others. I discuss a metaphilosophical objection that weak argumentation and disengagement are not vices of philosophical research. I also try to make sense of (i) and (ii) in terms of some cultural factors. (shrink)

This paper presents a new model for pricing OTC derivatives subject to collateralization. It allows for collateral posting adhering to bankruptcy laws. As such, the model can back out the market price of a collateralized contract. This framework is very useful for valuing outstanding derivatives. Using a unique dataset, we find empirical evidence that credit risk alone is not overly important in determining credit-related spreads. Only accounting for both collateral arrangement and credit risk can sufficiently explain unsecured credit costs. This (...) finding suggests that failure to properly account for collateralization may result in significant mispricing of derivatives. We also empirically gauge the impact of collateral agreements on risk measurements. Our findings indicate that there are important interactions between market and credit risk. (shrink)

Hempel seems to hold the following three views: (H1) Understanding is pragmatic/relativistic: Whether one understands why X happened in terms of Explanation E depends on one's beliefs and cognitive abilities; (H2) Whether a scientific explanation is good, just like whether a mathematical proof is good, is a nonpragmatic and objective issue independent of the beliefs or cognitive abilities of individuals; (H3) The goal of scientific explanation is understanding: A good scientific explanation is the one that provides understanding. Apparently, H1, H2, (...) and H3 cannot be all true. Some philosophers think that Hempel is inconsistent, while some others claim that Hempel does not actually hold H3. I argue that Hempel does hold H3 and that he can consistently hold all of H1, H2, and H3 if he endorses what I call the “understanding argument.” I also show how attributing the understanding argument to Hempel can make more sense of his D-N model and his philosophical analysis of the pragmatic aspects of scientific explanation. (shrink)

In this paper, I challenge the standard reading of complete virtue (ἀρετή τελεία) in those disputed passages of Nicomachean Ethics and Eudemian Ethics. I argue that, for Aristotle, complete virtue is neither (i) wisdom nor (ii) a whole set of all virtues. Rather, it is a term used by Aristotle to denote any virtue that is in its complete or perfect form. In light of this reading, I offer a pluralist interpretation of Aristotelian happiness. I argue that for Aristotle, the (...) life-long exercise of a predominant virtue—as long as it is exercised in its complete or perfect form—will suffice for human happiness. The so-called inclusivist and intellectualist notions of Aristotelian happiness, thus understood, are merely two forms (viz. the composite and the non-composite form) of the pluralist notion of Aristotelian happiness. And if I am right, my pluralist interpretation provides an alternative, if not better, solution to the long-standing problem of “dual happiness” in Aristotle. (shrink)

The LIBOR Market Model has become one of the most popular models for pricing interest rate products. It is commonly believed that Monte-Carlo simulation is the only viable method available for the LIBOR Market Model. In this article, however, we propose a lattice approach to price interest rate products within the LIBOR Market Model by introducing a shifted forward measure and several novel fast drift approximation methods. This model should achieve the best performance without losing much accuracy. Moreover, the calibration (...) is almost automatic and it is simple and easy to implement. Adding this model to the valuation toolkit is actually quite useful; especially for risk management or in the case there is a need for a quick turnaround. (shrink)

This study used a flame atomic absorption spectrometer (FAAS) and atomic fluorescence spec-trophotometer (AFS) to detect the concentrations of chromium (Cr), cadmium (Cd), lead (Pb), hy-drargyrum (Hg) and arsenic (As) in soils and three genotypes of vegetables in greenhouse, as well as analyzed the physical and chemical properties of soils, including soil pH, soil organic matter (OM), basic nutrients, electrical conductivity (EC) and cation exchange capacity (CEC) in Guan- zhong areas, Shaanxi province, China. The results showed that comparing to subsoil, (...) the sampled topsoil is enriched in Cr, Cd, Pb, As and Hg. Cd (0.83 - 3.17 mg·kg-1) and Hg (0.40 - 1.44 mg·kg-1) are exceeding the limited value stated in “the 2006 Greenhouse Vegetable Producing Environmental Quality Evaluation Standards” of 0.40 mg·kg-1 and 0.35 mg·kg-1 respectively. However, Nanzhuang greenhouse soil is within the limits. The heavy metal pollution index (HPI) of soil in Sanyuan (8.10) is the highest and in Dongzhang (4.23) is the lowest. The contents of Pb (0.201 - 0.376 mg·kg-1) were exceeding the limited value (0.20 mg·kg-1) in vegetables species, and Cd (0.0363 - 0.0572 mg·kg-1) in some place were also exceeding the limited value (0.05 mg·kg-1). Greenhouse soils were becoming acidified year after year; the ratios of N, P and K in soil were seriously imbalanced. According to the impacting factors, OM, pH, available P, EC and CEC have obviously effected the accumulation of Cr and Hg. However, there was not enough evidence for the effects of available nitrogen and available potassium. (shrink)

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

This article presents a comprehensive framework for valuing financial instruments subject to credit risk. In particular, we focus on the impact of default dependence on asset pricing, as correlated default risk is one of the most pervasive threats in financial markets. We analyze how swap rates are affected by bilateral counterparty credit risk, and how CDS spreads depend on the trilateral credit risk of the buyer, seller, and reference entity in a contract. Moreover, we study the effect of collateralization on (...) valuation, since the majority of OTC derivatives are collateralized. The model shows that a fully collateralized swap is risk-free, whereas a fully collateralized CDS is not equivalent to a risk-free one. (shrink)

I first present a brief interpretation of Sosa’s virtue epistemology by showing how it is arguably better than Goldman’s process reliabilism, why Sosa distinguishes between animal knowledge and reflective knowledge, and how Sosa’s recent account of knowing full well can deal with pragmatic encroachment. Then, I raise two worries about Sosa’s account: (a) Sosa’s claim that one might have animal knowledge without knowing reflectively or knowing full well implies that one’s true belief might manifest both competence and luck, which seems (...) to pose a challenge to Sosa’s solution to the Gettier problem; (b) intellectual virtue or competence does not seem to be a necessary condition for knowledge: there are cases where one knows without possessing the relevant intellectual virtue or competence. Finally, I suggest a responsibilist account of knowledge and show how it can not only handle the cases that pose a problem for Sosa’s account but also explain our intuitions about different grades of knowledge. (shrink)

This paper presents a Least Square Monte Carlo approach for accurately calculating credit value adjustment (CVA). In contrast to previous studies, the model relies on the probability distribution of a default time/jump rather than the default time itself, as the default time is usually inaccessible. As such, the model can achieve a high order of accuracy with a relatively easy implementation. We find that the valuation of a defaultable derivative is normally determined via backward induction when their payoffs could be (...) positive or negative. Moreover, the model can naturally capture wrong or right way risk. (shrink)

In this paper, I distinguish between two senses of “understanding”: understanding as an epistemic good and understanding as a character trait or a distinctive power of the mind. I argue that understanding as a character trait or a distinctive power of the mind is an intellectual virtue while understanding as an epistemic good is not. Finally, I show how the distinction can help us better appreciate Aristotle’s account of intellectual virtue.

In this thesis, I explore motivational internalism and externalism, which concern the relationship between moral judgments and motivation. I first introduce the basic terms and different forms of internalism and externalism, including the externalist objections to internalism based on the famous counterexamples. I then argue against externalism by defending and developing Michael Smith’s fetishism argument. I not only respond to the externalist objections to the fetishism argument but also further argue against different externalist explanations of moral motivation that intend to (...) avoid the fetishism charge. Finally, I re-examine different forms of internalism in order to argue for a new form of internalism that can better preserve our internalist intuitions whilst accommodating the externalist counterexamples. My ultimate conclusion will be that the most plausible form of internalism to accept is constitutional, unconditional, relatively strong, direct internalism that is formulated in terms of dispositional desires. (shrink)

Veritists hold that the goal of inquiry is true belief, while justificationists contend that the goal of inquiry is justified belief. Recently, Christoph Kelp makes two new objections to both veritism and justificationism. Further, he claims that the two objections suggest that the goal of inquiry is knowledge. This paper defends a sophisticated version of veritism against Kelp's two objections.

Both motivational internalism and externalism need to explain why sometimes moral judgments tend to motivate us. In this paper, I argue that Dreier’ second-order desire model cannot be a plausible externalist alternative to explain the connection between moral judgments and motivation. I explain that the relevant second-order desire is merely a constitutive requirement of rationality because that desire makes a set of desires more unified and coherent. As a rational agent with the relevant second-order desire is disposed towards coherence, she (...) will have some motivation to act in accordance with her moral judgments. Dreier’s second-order desire model thus collapses into a form of internalism and cannot be a plausible externalist option to explain the connection between moral judgments and motivation. (shrink)

In this paper, I suggest that the notion of qiyun (qi: spirit; yun: consonance) in the context of landscape painting involves a moral dimension. The Confucian doctrine of sincerity involved in bringing the landscapist’s or audience’s mind in accord with the Dao underpins the moral dimension of spiritual communion between artist, object, audience, and work. By projecting Kant’s and Schiller’s conceptions of aesthetic autonomy and the moral relevance of art onto the qiyun-focused context, we see that the reflection on parallels (...) and differences between the two cultural traditions helps to better understand the moral dimension of qiyun aesthetics. (shrink)

There are three widely held beliefs among epistemologists: (1) the goal of inquiry is truth or something that entails truth; (2) epistemology aims for a reflectively stable theory via reflective equilibrium; (3) epistemology is a kind of inquiry. I argue that accepting (1) and (2) entails denying (3). This is a problem especially for the philosophers (e.g. Duncan Pritchard and Alvin Goldman) who accept both (1) and (2), for in order to be consistent, they must reject (3). The tension is (...) not restricted to epistemology. A similar tension also exists in the area of moral philosophy. The tension can be generalized. If one believes that the goal of inquiry is truth or something that entails truth and that philosophy aims for a reflectively stable theory via reflective equilibrium, she must deny that philosophy is a kind of inquiry. (shrink)

In this paper, I suggest that the notion of qiyun (spirit consonance) in the context of landscape painting involves a moral dimension. The Confucian doctrine of sincerity involved in bringing the landscapist’s or audience’s mind in accord with the Dao underpins the moral dimension of spiritual communion between artist, object, audience and work. By projecting Kant’s, and Schiller’s somewhat modified Kantian philosophy of aesthetic autonomy and the moral relevance of art into the qiyun-focused context, we shall see that reflection on (...) parallels and differences between the two cultural traditions helps to better understand the moral dimension of qiyun aesthetics. (shrink)

A combinatorial analysis of intrinsicality takes intrinsic properties to be independent of accompaniment: a property is intrinsic only if it is possible for a lonely or an accompanied thing to have it or lack it (I). Cameron argues that the combinatorial analysis in Langton & Lewis (1998) faces an epistemic circularity, which makes (I) suspicious. In this paper, I examine two approaches to free the combinatorial analyses from the circularity and find them all fail. Then I provide an outline of (...) an argument for (I) by appealing to the grounding analyses of intrinsicality, which shows an advantage of the grounding analyses over the combinatorial ones. (shrink)

This article presents a new model for valuing financial contracts subject to credit risk and collateralization. Examples include the valuation of a credit default swap (CDS) contract that is affected by the trilateral credit risk of the buyer, seller and reference entity. We show that default dependency has a significant impact on asset pricing. In fact, correlated default risk is one of the most pervasive threats in financial markets. We also show that a fully collateralized CDS is not equivalent to (...) a risk-free one. In other words, full collateralization cannot eliminate counterparty risk completely in the CDS market. (shrink)

This paper 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.

This 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 (...) elaborated. A practical framework is developed for pricing defaultable derivatives and calculating their CVAs at a portfolio level. (shrink)

‘Spirit consonance engendering a sense of life’ (Qi Yun Sheng Dong) as the first law of Chinese painting, originally proposed by Xie He (active 500–535?) in his six laws of painting, has been commonly echoed by numerous later Chinese artists up to this day. Tracing back the meaning of each character of ‘Qi Yun Sheng Dong’ from Pre-Qin up to the Six Dynasties, along with a comparative analysis on the renderings of ‘Qi Yun Sheng Dong’ by experts in Western academia, (...) I establish ‘spirit consonance’ as the rendering of ‘Qi Yun’. By examining texts on painting by significant critics in Chinese art history, and by referring to specific works by painters from the Six Dynasties up to the Yuan Dynasty, I present the merits and demerits of the different interpretations by Western experts, and explore the essence of ‘Qi Yun’. Once the painter successfully captures ‘spirit consonance’ as the essential character or ‘internal reality’ of the object, and transmits it into the work, ‘Qi Yun’ further implies the expressive quality of the work beyond formal representation. Additionally, the fusion of expressive and representative functions also leaves space for further explaining the aesthetic interaction among artist, object, work, and audience. From the Six Dynasties onwards, Chinese painters have practised the expressive pursuit beyond epresentation on the basis of the unification of ‘Qi Yun’ (spirit consonance) and formal representation, although spirit consonance was valued more highly than formal likeness. (shrink)

Some philosophers (e.g., Pritchard, Grimm, and Hills) recently have objected that veritism cannot explain the epistemic value of understanding-why. And they have proposed two anti-veritist accounts. In this paper, I first introduce their objection and argue that it fails. Next, I consider a strengthened version of their objection and argue that it also fails. After that, I suggest a new veritist account: Understanding-why entails believing the truth that what is grasped is accurate (or accurate enough), and it is this true (...) belief, along with many other true beliefs understanding-why entails, that makes understanding-why finally epistemically valuable. Then, I explain why the two anti-veritist accounts are both false. Finally, I briefly discuss the idea that understanding involves a kind of know-how and show how veritism can explain the epistemic value of know-how in general. (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)

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 attempts to assess the economic significance and implications of collateralization in different financial markets, which is essentially a matter of theoretical justification and empirical verification. We present a comprehensive theoretical framework that allows for collateralization adhering to bankruptcy laws. As such, the model can back out differences in asset prices due to collateralized counterparty risk. This framework is very useful for pricing outstanding defaultable financial contracts. By using a unique data set, we are able to achieve a clean (...) decomposition of prices into their credit risk factors. We find empirical evidence that counterparty risk is not overly important in credit-related spreads. Only the joint effects of collateralization and credit risk can sufficiently explain unsecured credit costs. This finding suggests that failure to properly account for collateralization may result in significant mispricing of financial contracts. We also analyze the difference between cleared and OTC markets. (shrink)

For the past three years, Coronavirus-19 (Covid-19) has become one of the major global health problems. Unlike any previous virus in the past decades, Covid-19 has shown its unprecedented spreading speed, infection rate, fatality rate, etc. Under this urgent disease outbursting event, scientists around the globe, through the myriad of research and experiments, successfully developed effective vaccines. However, like many other medical innovations, Covid-19 vaccines are categorized as intellectual properties and a scarce resource. As a consequence, the citizens of developed (...) and developing countries face an imbalanced distribution of affordable vaccines. The formation of this issue is not only due to manufacturing, transportation, and other infrastructures, but also strongly correlated with aspects in the legal field, such as intellectual property rights (IPRs). With a humane common sense of vaccination many people, through comparative research method, this article aims to discuss the conflicts between the global crisis of Force Majeure and the interests of certain countries or corporations, possible solutions to resolve this conflict, and future coping strategies that ought to be published. (shrink)

This paper explores the elusive dialectic between concentration and forgetfulness, consciousness and unconsciousness in spontaneous artistic creation favoured by artists and advocated by critics in Chinese art history, by examining texts on painting and tracing back to ancient Daoist philosophical ideas, in a comparison with Kantian and post-Kantian aesthetics. Although artistic spontaneity in classical Chinese aesthetics seems to share similarities with Kant’s account of spontaneity in the art of genius, the emphasis on unconsciousness is valued by classical Chinese artists and (...) critics inspired by the Daoist idea of ‘Wu Wei’ (acting without conscious intention or effort). As the Qing painter Wang Yuanqi (1642–1715) claimed when admitting his failure to copy the Yuan master Ni Zan (1301–1374), Ni Zan’s success in natural and untrammelled expression lies ‘in between having an intention and not having one’. A similar idea about the dialectic of consciousness and unconsciousness in artistic spontaneity was suggested by Heinrich von Kleist’s On the Marionette Theatre (1880), which demonstrated that while self-consciousness might disturb and hinder the naturalness of artistic expression and thus encourage affectation, it does not mean that there is no role for consciousness. Although the views on unconsciousness in art and the co-play of consciousness and unconscious in artistic creation by Schelling, Schiller, Goethe, and even Nietzsche might get inspirations from Kant’s hidden view of the unconscious, Kant’s emphasis on the harmonious cooperation between imagination and understanding disguises his inexplicit idea of the unconscious. This paper will demonstrate that while in both Classical Chinese and European cultural contexts, artists, critics and philosophers talk about the same elusive relation, the philosophical explanations of the same phenomenon are essentially distinctive. (shrink)

This paper presents a new model for valuing hybrid defaultable financial instruments, such as, convertible bonds. In contrast to previous studies, the model 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)

This paper revisits Aristotle’s discussion of akrasia in NE VII. 1–10. I try to offer a scientific reading of the book, according to which NE VII. 1–10 closely instantiates the main guidelines of Aristotle’s Posterior Analytics. I propose that NE VII. 1–2, which aims to establish the fact that akrasia exists, corresponds to the ὅτι-stage of an Aristotelian scientific inquiry, and NE VII. 3–10, which aims to explain both the cause and the object of akrasia, corresponds to the διότι-stage of (...) the inquiry. (shrink)

This article presents a new model for valuing a credit default swap (CDS) contract that is affected by multiple credit risks of the buyer, seller and reference entity. We show that default dependency has a significant impact on asset pricing. In fact, correlated default risk is one of the most pervasive threats in financial markets. We also show that a fully collateralized CDS is not equivalent to a risk-free one. In other words, full collateralization cannot eliminate counterparty risk completely in (...) the CDS market. (shrink)

The incremental risk charge (IRC) is a new regulatory requirement from the Basel Committee in response to the recent financial crisis. Notably few models for IRC have been developed in the literature. This paper proposes a methodology consisting of two Monte Carlo simulations. The first Monte Carlo simulation simulates default, migration, and concentration in an integrated way. Combining with full re-valuation, the loss distribution at the first liquidity horizon for a subportfolio can be generated. The second Monte Carlo simulation is (...) the random draws based on the constant level of risk assumption. It convolutes the copies of the single loss distribution to produce one year loss distribution. The aggregation of different subportfolios with different liquidity horizons is addressed. Moreover, the methodology for equity is also included, even though it is optional in IRC. (shrink)

This 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 (...) or to simulate price paths. Empirical study shows that the model is quite accurate. (shrink)

The current discussions of conceptual schemes and related topics are misguided; for they have been focused too much on the truth-conditional notions of meaning/concepts and translation/interpretation in Tarski's style. It is exactly due to such a Quinean interpretation of the notion of conceptual schemes that the very notion of conceptual schemes falls prey to Davidson's attack. We argue that what should concern us in the discussions of conceptual schemes and related issues, following the initiatives of I. Hacking, T. Kuhn, and (...) N. Rescher, is not the truth-values of assertions, but rather the truthvalue-status of the sentences used to make the assertions. This is because the genuine conceptual innovation between alternative theories/languages does not lie in differences in determining the truth-values of their sentences, but turns on whether these sentences have truth-values when considered within the context of a competing one. The core of conceptual relativism does not consist in the claim that different conceptual schemes may yield incommensurable truth claims, but rather that different conceptual schemes may yield incompatible truth-value-status and therefore lead to distinct perceptions of reality. Conceptual schemes are no longer seen as sentential languages consisting of a set of sentences accepted as true, but rather seen as metaphysical presuppositions of presuppositional languages.[ABSTRACT FROM AUTHOR]. (shrink)

In this paper I intend to analyse whether a certain kind of physicalism (part-wholephysicalism)is supported by what classical mechanics and quantum mechanics have to say about the part whole relation. I will argue that not even the most likely candidates – namely cases of microexplanation of the dynamics of compound systems – provide evidence for part whole-physicalism, i.e. the thesis that the behaviour of the compound obtains in virtue of the behaviour of the parts. Physics does not dictate part-whole-physicalism.

During the lifetime of a structured product, payment events and cancellation events mainly affect the value of the option. This article presents a model for pricing generic cancellable option. The model is used to build most common kinds of cancellation schedules and compute the cancellation probability.

What the authors attempt to address in this paper is a Kantian question: not whether, but how is cross -cultural understanding possible? And specifically, what is a more effective approach for cross -cultural understanding? The answer lies in an analysis of two different models of cross -cultural understanding, that is, propositional and hermeneutic understanding. To begin with, the author presents a linguistic interpretation of culture, i.e., a culture as a linguistically formulated and transmitted symbolic system with its conceptual core as (...) a scheme of basic cultural presuppositions, which it referred to as a cultural language. After exploring the essential role of cultural presuppositions in cross -cultural understanding, the author discusses the traditional model of cross -cultural understanding, namely, the propositional model. Through critically examining the two popular versions of the propositional model, i.e., the projective approach and the adoptive approach to cross -cultural understanding, it is found that cross -cultural propositional understanding is doomed to failure. To move us beyond the absolutism -relativism trap embedded within propositional understanding, the author first introduces and discusses Hans-Georg Gadamer’s hermeneutic understanding, and then applies Hans-Georg Gadamer’s hermeneutic model of understanding to cross -cultural understanding. It is finally concluded that cross -cultural understanding is essentially hermeneutic—including the case of cultural learning, not propositional. Therefore, cross -cultural understanding is hermeneutically possible. (shrink)

This essay seeks to acknowledge the unsettling reality of children being intentionally maimed towards disability and disfigurement as economic commodity. The issue is easily invisibilized in modern education, and understandably so: the trauma triggered by these bloody realities can automatically disqualify the content for formal in school education as a form of “unwelcome truth”. Freire and Fanon, however, did not shy away from the horrific state of life for the oppressed and the wretched in their consideration of pedagogy. The lived (...) experience of maimed children is tragic, but it is lived experience nonetheless – acknowledged by hooks as “a way of knowing that coexists in a non-hierarchical way with other ways of knowing” (2014). In other words, this knowledge exists but is arguably not mobilized by society towards action. Critical consciousness, upheld by Freire as the key to seeing inequality to act upon it, is a goal beyond reach for the maimed children themselves. Here, we consider the extension proposed by Nicholls (2011), who discusses pedagogy of the privileged as an equally important parallel towards collaborative action against long-standing inequalities. In the context of these children having minimal access to education, we contend that privileged students must be the ones to carry forth the knowledge towards their own critical consciousness. Specifically, we explore what acknowledging children who are maimed could offer towards pedagogy, in relation to helping students to 1) minimize the act of “othering” in a global community; 2) reconsider the role of mass-media and media literacy in their critical consciousness; and 3) move away from surface-level, performative charity against societal inequalities. (shrink)

Chinese international students who studied in the United States received “double stigmatization” from American and Chinese authorities because of the “political othering” tactic during COVID-19. The research used a phenomenological approach to examine why and how specifically the transnational identity of Chinese international students in the United States shifted during the double stigmatization. The researcher conducted a total of three rounds of interviews with 15 Chinese international students who studied in the United States and returned to China between 2018 and (...) 2020, which culminated in 45 interviews through a longitudinal study to probe the transnational identities of this population before and during the double stigmatization; the study also examined how the mindsponge mechanism worked during the identity shifts and the interplay among stigmatization, transnational identity shifts, and the mindsponge mechanism. The study concluded that before COVID-19, Chinese international students had been stigmatized in both China and the United States. (shrink)