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 (...) for the IDC carbon emission reduction was developed by coordinating the spatial-temporal dispatch flexibilities of the IDC workload and the EVCS demand. Based on the Minkowski sum algorithm, a generalized flexible load model of the EVCSs, considering traffic flow and Road Impedance (RI) was formulated. The case studies show that the proposed method can effectively increase the renewable energy consumption, reduce the overall carbon emissions of multi-IDCs, reduce the energy cost of the DCO, and utilize the EV dispatching potential. Discussions are also provided on the relationship between workload processing time delay and the renewable energy consumption rate. (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)

This study aimed to analyze the mediating effect of tolerance of uncertainty (TU) and trait anxiety (TA) on future self-continuity (FSC) and intention to use Internet wealth management (IUIWM) systems. A questionnaire survey was distributed online and a total of 388 participants completed questionnaire, The questionnaire included the following scales: Chinese version of the FSC, Intention to Use the Internet Wealth Management, TU, and TA. Pearson correlation was used to investigate the correlation coefficient between variables while the sequential regression method (...) was used to analyze relationship between variables. To analyze the collected data, the SPSS 26.0 was used. A two-step procedure was applied to analyze the mediation effect. Confirmatory factor analysis (CFA) was conducted to test the measurement model. Afterward, the Maximum Likelihood method was used for path analysis, and the Bias-corrected Bootstrap method was used to investigate determine the estimated value and confidence interval of the mediating effect. (shrink)

on how to justify the rationality of sciences.

The Community of Shared Future for Mankind (CSFM) concept is a comprehensive Chinese proposal for a better future of mankind. In this article, we provide a comprehensive analysis of this concept by focusing on its origin, evolution and philosophical foundation. This article deals with the origin and evolution of the CSFM concept. We show that the concept originated during the presidency of Hu Jintao, who initially used it for the domestic affairs of China. However, the usage of the concept was (...) later extended from domestic to international affairs. Though Hu Jintao conceived the CSFM concept, it is president Xi Jinping who became its greatest advocate. We explore the CSFM concept’s development and evolution into one of the most influential, diverse and dominant concepts of international relations under president Xi. Furthermore, the article explores the philosophical foundation of the CSFM concept. We argue that although CSFM concept is seen as a 21st century Chinese idea, the roots of the concept can be traced back to much earlier time in history. The concept is based on three major philosophical thoughts: Marxism, Confucianism and the philosophy of Mencius. We show that the CSFM concept is greatly influenced by Marx’s ideas such as the transformation of the world, the free association of producers, historical materialism and dialectics. We also point to a number of Confucian principles that are adopted by the CSFM concept. The CSFM concept not only adopts Confucian principles but also extends their scope from the individual level to international relations. Similarly, we also highlight that the CSFM concept is influenced by Mencius’ concepts such as universal brotherhood, responsibility towards the betterment of the world, humane governance, free trade, equal sharing of wealth and the conservation of natural resources. (shrink)

In the modern business environment, characterized by rapid technological advancements and globalization, abetted by IoT and Industry 5.0 phenomenon, innovation is indispensable for competitive advantage and economic growth. However, many organizations are facing problems in its true implementation due to the absence of a practical innovation management framework, which has made the implementation of the concept elusive instead of persuasive. The present study has proposed a new innovation management framework labeled as “Absolute Innovation Management (AIM)” to make innovation more understandable, (...) implementable, and part of the organization’s everyday routine by synergizing the innovation ecosystem, design thinking, and corporate strategy to achieve competitive advantage and economic growth. The current study used an integrative literature review methodology to develop the “Absolute Innovation Management” framework. The absolute innovation management framework links the innovation ecosystem with the corporate strategy of the firm by adopting innovation management as a strategy through design thinking. Thus, making innovation more user/human-centered that is desirable by the customer, viable for business and technically feasible, creating both entrepreneurial and customer value, and boosting corporate venturing and corporate entrepreneurship to achieve competitive advantage and economic growth while addressing the needs of IoT and Industry 5.0 era. In sum, it synergizes innovation, design thinking, and strategy to make businesses future-ready for IoT and the industry 5.0 revolution. The present study is significant, as it not only makes considerable contributions to the existing literature on innovation management by developing a new framework but also makes the concept more practical, implementable and part of an organization’s everyday routine. (shrink)

In the middle of the last century, it was common to explain the notion of necessity in linguistic terms. A necessary truth, it was said, is a sentence whose truth is guaranteed by linguistic rules. Quine famously argued that, on this view, de re modal claims do not make sense. “Porcupettes are porcupines” is necessarily true, but it would be a mistake to say of a particular porcupette that it is necessarily a porcupine, or that it is possibly purple. Linguistic (...) theories of necessity fell out of favour with the publication of Kripke’s Naming and Necessity, and Quine’s arguments were put aside. In her recent book, Norms and Necessity, Amie Thomasson presents her modal normativism, which is an updated version of the mid-century theories just described. Quine’s arguments are thus relevant once again. We recapitulate Quine’s central argument, in the context of modal normativism. We then criticise Amie Thomasson’s discussion of de re modality. We finish by briefly presenting an alternative account of de re modal statements, which is compatible with modal normativism. (shrink)

The human faculty of moral judgment is not well suited to address problems, like climate change, that are global in scope and remote in time. Advocates of ‘moral bioenhancement’ have proposed that we should investigate the use of medical technologies to make human beings more trusting and altruistic, and hence more willing to cooperate in efforts to mitigate the impacts of climate change. We survey recent accounts of the proximate and ultimate causes of human cooperation in order to assess the (...) prospects for bioenhancement. We identify a number of issues that are likely to be significant obstacles to effective bioenhancement, as well as areas for future research. (shrink)

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

By rethinking the meaning of a central idiom in the Great Learning, this essay intends to open up a new horizon for the hermeneutics of early Confucian thinking, which has little to do with metaphysics. Through a careful etymological study of ge wu and a dialogue between the Great Learning and Heidegger's phenomenology of human affection, I demonstrate the critical position of the human heart in early Chinese thinking. This new interpretation of early Confucian moral teachings also recovers an invigorating (...) possibility for contemporary discourse on the question of ethics. (shrink)

Aiming at the problems of college students’ lack of in-depth understanding of the connotation of Chinese excellent traditional culture and the urgent need for improvement, this paper takes the construction of the Chinese Excellent Cultural Inheritance and Development Project of Faculty of Chinese Language and Culture of Guangdong University of Foreign Studies as an example, proposes the construction path of the cultural education project in universities, and summarizes the actual effect and experience.

In past decades, the subject atmosphere and mood has gone beyond the physio-meteorological and psychological scopes and become a new direction of aesthetics which concerns two sides of the same phenomenon. As the primary sensuous reality constructed by both the perceiving subject and the perceived object, atmosphere and mood are neither a purely subjective state nor an objective thing. Atmosphere is essentially a quasi-object pervaded by a specific affective quality and a ubiquitous phenomenon forming the foundation of our outer life (...) experiences, while mood is a quasi-subject pervaded by specific objective quality and thus a ubiquitous phenomenon forming the foundation of our inner life experiences. A practical dimension is thereby, from the outset, embedded in the consideration of both concepts. This is mainly characterized by actions and, correspondingly, ethical aspects, which concern the design and creation of atmosphere and thus the triggering of mood through works of art. Here, on the one hand, the process of artistic formation, long neglected in the European tradition, is given prominence as an aesthetic practice, and on the other hand, an interactive dialogue is effectively established between the artist, the work and the viewer. Due to the fact that atmosphere and mood, both as in-between, emphasize the interaction of the perceiver and the perceived from two sides, here the decisive question is: in what kind of environment do we live or participate and in what way do we experience it? The focus of aesthetics is now not on the conventional issue whether the environment is beautiful or gives us a sense of beauty, but on how the environment influences our feeling of being there (Befinden) through our own sensuality. Such an approach would contribute to a critical transformation in aesthetic methodology, namely from the ontological and/or epistemological what to the phenomenological and anthropological how. -/- The tension between atmosphere and mood, as revealed here, opens up a large space for exploring a new understanding of aesthetics. On this basis the special issue pursued to diversify this discussion on an international level. (shrink)

Abstract: Good governance practices is a cornerstone for a country’s sustainable development whether socially, economically, culturally, morally or spiritually and in both national and international astute. Mostly, the significance of good governance practices is objective for an individual country in respect of economic efficiency and growth. Good governance is conducive to macroeconomic stability, external viability and sustainable development [1]. While the concepts of “governance” and “good governance” are not “new” in development literatures, is still receiving a mounting attention in recent (...) years especially in developing countries including Tanzania. Since independence of Tanganyika by then, and after the union of Tanganyika and Zanzibar, United Republic of Tanzania made many attempts to improve her governance system. It is in this line therefore, this paper aiming to analyze government initiatives in achieving good governance practices in Zanzibar. Using descriptive approach, government institutions in Zanzibar found to implement an outdated good governance policy. However, the initiatives taken so far in adopting good governance practices are stronger and the society has changed as a result of their realization which is due to those initiatives taken by the government in achieving good governance practices. This study was conducted in selected departments under President’s Office, Justice, Constitutional Affairs, Public Service and Good Governance since they have overall mandate of implementing good governance in Zanzibar [2]. The study employed both qualitative and quantitative methods. Qualitative method was used in the form of interviews while quantitative method was used in the form of questionnaires. Findings revealed that, the people of Zanzibar appreciates and have positive attitudes and perceptions towards the initiatives taken by their Government in adopting good governance practices although impediments like availability of an outdated good governance policy, inadequate public awareness on good governance, inadequate good governance budget from central government, poor technology and office politics were mentioned to hindering these initiatives. However, to a great extent the government of Zanzibar succeed in adopting good governance practices in a way that society observes it and practically executes good governance principles. Based on the findings, this study recommends government of Zanzibar to review and updates her good governance policy, allocate enough budget that enables responsible institutions to efficiently and effective implement good governance practices programs and activities which including provision of awareness creation and civic education curricula especially in remote area of the country which will facilitates and speedup the elimination of factors hindering adoption of good governance practices in Zanzibar and Tanzania at large. (shrink)

Ang papel ay paglalagom ng itinuturing na pinakamahalagang yugto ng buhay ni José Rizal—ang kanyang pagkakatapon sa Dapitan, sa lente ng konseptong “bagani” ng ating mga ninuno. Sa pagbanggit sa lang nauna nang pag-aaral ukol kay Rizal, ipapakitang kung papaanong ang yugto sa Dapitan ay ang katuparan ng kanyang mga layunin sa La Liga Filipina, na kanyang isinabuhay kasama ang bayan. Sa lente ng kasalukuyang pandemyang COVID 19, makikita natin na tila naranasan din ni Rizal sa kanyang pagkakatapon ang ilang (...) bagay na ating dinaranas ngayon, na tila siya isang frontliner na nasa lockdown, inilagay sa kuwarentena, nag-homeschooling, nagkaroon ng lockdown sickness at namahagi ng ayudang pangkabuhayan sa mga mamamayan ng isang natutulog na bayan upang ito ay sumiglang muli. Nawa ay maging inspirasyon sa bayan na anuman ang hamon at mga balakid, walang makapipigil sa isang Pilipino na magsilbi sa bayan gamit ang kanyang mga talento at manatiling liwanag ng katotohanan at kaalaman. (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)

Objectives: The growing rate of retraction of scientific publications has attracted much attention within the academic community, but there is little knowledge about the nature of such retractions in schizophrenia-related research. This study aimed to analyze the characteristics of retractions of schizophrenia-related publications.

On the basis of PM2.5 data of the national air quality monitoring sites, local population data, and baseline all-cause mortality rate, PM2.5-related health economic benefits of the Air Improvement Action Plan implemented in Wuhan in 2013–2017 were investigated using health-impact and valuation functions. Annual avoided premature deaths driven by the average concentration of PM2.5 decrease were evaluated, and the economic benefits were computed by using the value of statistical life (VSL) method. Results showed that the number of avoided premature deaths (...) in Wuhan are 21,384 (95% confidence interval (CI): 15,004 to 27,255) during 2013–2017, due to the implementation of the Air Improvement Action Plan. According to the VSL method, the obtained economic benefits of Huangpi, Wuchang, Hongshan, Xinzhou, Jiang’an, Hanyang, Jiangxia, Qiaokou, Jianghan, Qingshan, Caidian, Dongxihu, and Hannan District were 8.55, 8.19, 8.04, 7.39, 5.78, 4.84, 4.37, 4.04, 3.90, 3.30, 2.87, 2.42, and 0.66 billion RMB (1 RMB = 0.1417 USD On 14 October 2019), respectively. These economic benefits added up to 64.35 billion RMB (95% CI: 45.15 to 82.02 billion RMB), accounting for 4.80% (95% CI: 3.37% to 6.12%) of the total GDP of Wuhan in 2017. Therefore, in the process of formulating a regional air quality improvement scheme, apart from establishing hierarchical emission-reduction standards and policies, policy makers should give integrated consideration to the relationship between regional economic development, environmental protection and residents’ health benefits. Furthermore, for improving air quality, air quality compensation mechanisms can be established on the basis of the status quo and trends of air quality, population distribution, and economic development factors. (shrink)

The modern abundance and prominence of data has led to the development of “data science” as a new field of enquiry, along with a body of epistemological reflections upon its foundations, methods, and consequences. This article provides a systematic analysis and critical review of significant open problems and debates in the epistemology of data science. We propose a partition of the epistemology of data science into the following five domains: (i) the constitution of data science; (ii) the kind of enquiry (...) that it identifies; (iii) the kinds of knowledge that data science generates; (iv) the nature and epistemological significance of “black box” problems; and (v) the relationship between data science and the philosophy of science more generally. (shrink)

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)

Gruber et al. (2022) and Buonomano and Rovelli (Forthcoming) aim to render Q18 consistent the picture of time delivered to us by physics, with the way time seems to us in experience. Their general approach is similar; they take the picture of our world given to us in physics, a picture on which there is no global “moving” present and hence no robust temporal flow, and attempt to explain why things nevertheless seem to us as they do, given that our (...) world is that way. In this, they follow in the footsteps of Hartle (2005), Callender (2017), and Ismael (2017), who argue that any information gathering system (an IGUS) will, in learning to navigate our world, represent the distinctions between past, present, and future, and represent their own changing trajectory through spacetime. While we are generally very sympathetic to this approach, there are several places where we disagree. (shrink)

Myocardial disarray is the screening tool for HCM (hypertrophy cardiomyopathy). It is also found in hypertension, congenital heart disease, corpulmonale, etc. Many patients died from heart failure due to myocardial disarray. The risk of premature death may be determined by the degree of myocyte disarray. This article reviews the anatomical explanation of myocardial disarray. It also discusses the pathogenesis of the myocardial disorganization that causes heart failure. How to measure myocardial disarray has also been assessed. Therefore, early detection of myocardial (...) disarray is advised to prevent heart failure. (shrink)

Background: The concept of digital twins has great potential for transforming the existing health care system by making it more personalized. As a convergence of health care, artificial intelligence, and information and communication technologies, personalized health care services that are developed under the concept of digital twins raise a myriad of ethical issues. Although some of the ethical issues are known to researchers working on digital health and personalized medicine, currently, there is no comprehensive review that maps the major ethical (...) risks of digital twins for personalized health care services. Objective: This study aims to fill the research gap by identifying the major ethical risks of digital twins for personalized health care services. We first propose a working definition for digital twins for personalized health care services to facilitate future discussions on the ethical issues related to these emerging digital health services. We then develop a process-oriented ethical map to identify the major ethical risks in each of the different data processing phases. Methods: We resorted to the literature on eHealth, personalized medicine, precision medicine, and information engineering to identify potential issues and developed a process-oriented ethical map to structure the inquiry in a more systematic way. The ethical map allows us to see how each of the major ethical concerns emerges during the process of transforming raw data into valuable information. Developers of a digital twin for personalized health care service may use this map to identify ethical risks during the development stage in a more systematic way and can proactively address them. Results: This paper provides a working definition of digital twins for personalized health care services by identifying 3 features that distinguish the new application from other eHealth services. On the basis of the working definition, this paper further layouts 10 major operational problems and the corresponding ethical risks. Conclusions: It is challenging to address all the major ethical risks that a digital twin for a personalized health care service might encounter proactively without a conceptual map at hand. The process-oriented ethical map we propose here can assist the developers of digital twins for personalized health care services in analyzing ethical risks in a more systematic manner. (shrink)

The rare but severe cerebral venous thrombosis occurring in some AstraZeneca vaccine recipients has prompted some governments to suspend part of their COVID-19 vaccination programmes. Such suspensions have faced various challenges from both scientific and ethical angles. Most of the criticisms against such suspensions follow a consequentialist approach, arguing that the suspension will lead to more harm than benefits. In this paper, I propose a rights-based argument against the suspension of the vaccine rollouts amid this highly time-sensitive combat of COVID-19. (...) I argue that by suspending a vaccine rollout, a government infringes people's right to take the risks they deem worth taking for their health. I also consider four potential objections to my argument and explain why none of them undermines my argument. (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.

John Harris recently argues that the moral bioenhancement proposed by Persson and Savulescu can damage moral agency by depriving the recipients of their freedom to fall (freedom to make wrongful choices) and therefore should not be pursued. The link Harris makes between moral agency and the freedom to fall, however, implies that all forms of moral enhancement, including moral education, that aim to make the enhancement recipients less likely to “fall” are detrimental to moral agency. In this paper, I present (...) a new moral agency-based critique against the moral bioenhancement program envisaged by Persson and Savulescu. I argue that the irresistible influences exerted by the bioenhancement program harms our capabilities for conducting accurate self-reflection and forming decisions that truly express our will, which subsequently undermine our moral agency. (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)

Host-microbiome interactions (HMIs) are critical for the modulation of biological processes and are associated with several diseases, and extensive HMI studies have generated large amounts of data. We propose that the logical representation of the knowledge derived from these data and the standardized representation of experimental variables and processes can foster integration of data and reproducibility of experiments and thereby further HMI knowledge discovery. A community-based Ontology of Host-Microbiome Interactions (OHMI) was developed following the OBO Foundry principles. OHMI leverages established (...) ontologies to create logically structured representations of microbiomes, microbial taxonomy, host species, host anatomical entities, and HMIs under different conditions and associated study protocols and types of data analysis and experimental results. (shrink)

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)

This paper examines the fortunes of non-European philosophies in histories of philosophy written by European and American philosophers from the 17th century to the present day. It charts the shift from inclusive histories of philosophy, which included non-European philosophies, to exclusive histories of philosophy, which excluded and/or marginalized non-European philosophies, at the end of the 18th century. This shift was motivated by racial Eurocentrism, which cast a long shadow over histories of philosophy written during the 19th and 20th centuries. The (...) paper also considers recent attempts to produce a more inclusive history of philosophy. By examining the history of the inclusion and exclusion of non-European philosophies in histories of philosophy, this paper seeks to challenge the assumption that philosophy began and has been practised exclusively by European or western thinkers. (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)

According to a familiar reading of Kant, he denies the possibility alleged by the rationalists of our having non-sensible or intellectual intuition. I argue in this article that he simply holds the possibility to be groundless. To put the contrast in terms of a distinction Kant makes in the A-Paralogisms, he raises a “dogmatic” objection to the rationalists in the former case, and a “critical” one in the latter. By analyzing the two-step argument in the B-Deduction, I defend the “critical” (...) reading, which may, I hope, shed light on how Kant can justify his claim – which may be regarded as a second-order, methodological one pivotal to his Critical project – that possible experience serves as the only guideline for proving that we can cognize objects a priori. (shrink)

This paper aims to provide a clarification of the long debate on whether enhancement will or will not diminish authenticity. It focuses particularly on accounts provided by Carl Elliott and David DeGrazia. Three clarifications will be presented here. First, most discussants only criticise Elliott’s identity argument and neglect that his conservative position in the use of enhancement can be understood as a concern over social coercion. Second, Elliott’s and DeGrazia’s views can, not only co-exist, but even converge together as an (...) autonomy based theory of authenticity. Third, the current account of autonomy provided by DeGrazia fails to address the importance of rationality and the ability of self-correction, which, as a result impedes the theory to provide a fully developed account for authenticity. In conclusion, a satisfactory account of authenticity cannot focus only on identity or subjective preference. (shrink)

Introduction: Online eye-tracking has been used in this study to assess the impacts of different cultural backgrounds on information discernment. An online platform called RealEye allowed participants to engage in the eye-tracking study from their personal computer webcams, allowing for higher ecological validity and a closer replication of social media interaction. -/- Methods: The study consisted of two parts with a total of five visuals of social media posts mimicking news posts on Twitter, Instagram, and Facebook. Participants were asked to (...) view examples of real and fake news taken from a news fact-checking website, Snopes, and their eye movements were recorded during the process. Participants were recruited through Prolific and SONA; the total sample size for study 1.1 was 29 participants, and the total for study 1.2 was 25 participants, after removing poor eye-tracking data. A total of five visual images comprising true and false news were shown to the participant, study 1.1 had three examples and study 1.2 had two examples. There were two main cultural backgrounds in focus: participants born in China or the United Kingdom. -/- Results: Results suggested that participants follow a similar visual pattern of attention to Areas of Interest (AOIs) on the posts, which leads us to believe that due to the global standardisation of popular social media platforms, a bias might have occurred during information discernment. -/- Discussion: It is suggested that regardless of country background, users may have similar eye-tracking results while viewing a social media post because social media platform formats are standardised globally. Further research would recommend looking at language and linguistic traits when seeking differences between country backgrounds during online information discernment. (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 paper explores the connections between being Chinese in various senses and the study of Chinese philosophy.

In this essay, we will follow Tang Junyi’s lead in exploring issues related to Chinese diaspora and Chinese philosophy. While we largely endorse Tang’s call for overseas Chinese to establish themselves in their adopted lands, we will argue for a more nuanced view on the identity of Chinese people outside China: they are not marginalized individuals scattered out of “homeland” China, rather they are people legitimately established in their own respective countries. In this connection, we will also advance a view (...) of future Chinese philosophy as a world philosophy that takes roots in China as well as in the world at large. In our view, although Chinese immigrant thinkers in the past century have played a major role in promoting Chinese philosophy outside China, the importance of such a role is likely to decline along with the success of Chinese philosophy becoming a world philosophy. (shrink)

In July 2017, China’s State Council released the country’s strategy for developing artificial intelligence, entitled ‘New Generation Artificial Intelligence Development Plan’. This strategy outlined China’s aims to become the world leader in AI by 2030, to monetise AI into a trillion-yuan industry, and to emerge as the driving force in defining ethical norms and standards for AI. Several reports have analysed specific aspects of China’s AI policies or have assessed the country’s technical capabilities. Instead, in this article, we focus on (...) the socio-political background and policy debates that are shaping China’s AI strategy. In particular, we analyse the main strategic areas in which China is investing in AI and the concurrent ethical debates that are delimiting its use. By focusing on the policy backdrop, we seek to provide a more comprehensive and critical understanding of China’s AI policy by bringing together debates and analyses of a wide array of policy documents. (shrink)

A scarcity mindset is considered to impact consumer behaviors. Our research aimed to examine the moderating effect of the scarcity mindset on the relationship between mental accounting and hedonic (vs. utilitarian) consumption. We conducted an online experimental design (mental accounting: windfall gains vs. hard-earning gains; consumption: hedonic products vs. utilitarian products) and verified our hypotheses in two distinct samples: a student sample and an adult sample. Our results showed that consumers who received windfall gains tended to use it for hedonic (...) consumption rather than utilitarian consumption. Intriguingly, such an effect was insignificant under a high level of a scarcity mindset but significant under a low level of the scarcity mindset. Moreover, consumers who received hard-earning gains tended to spend the money on utilitarian (vs. hedonic) consumption. However, we did not detect the impact of the scarcity mindset on such effects. Our research suggested an asymmetric effect of the scarcity mindset on hedonic (vs. utilitarian) consumption under two different mental accounts. It highlights the important role of the scarcity mindset in consumer behaviors, which leaves avenues for future research to understand marketing promotion strategies for distinct products. (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)

To obtain effective fusion results of multi source evidences with different importance, an evidence fusion method with importance discounting factors based on neutrosopic probability analysis in DSmT framework is proposed. First, the reasonable evidence sources are selected out based on the statistical analysis of the pignistic probability functions of single focal elements. Secondly, the neutrosophic probability analysis is conducted based on the similarities of the pignistic probability functions from the prior evidence knowledge of the reasonable evidence sources. Thirdly, the importance (...) discounting factors of the reasonable evidence sources are obtained based on the neutrosophic probability analysis and the reliability discounting factors of the real-time evidences are calculated based on probabilistic-based distances. Fourthly, the real-time evidences are discounted by the importance discounting factors and then the evidences with the mass assignments of neutrosophic empty sets are discounted by the reliability discounting factors. Finally, DSmT+PCR5 of importance discounted evidences is applied. Experimental examples show that the decision results based on the proposed fusion method are different from the results based on the existed fusion methods. Simulation experiments of recognition fusion are performed and the superiority of proposed method is testified well by the simulation results. (shrink)

It is widely accepted that a liberal state has a general duty to protect its people from undue health risks. However, the unprecedented emergent measures against the COVID-19 pandemic taken by governments worldwide give rise to questions regarding the extent to which this duty may be used to justify suspending a vaccine rollout on marginal safety grounds. -/- In this chapter, I use the case of vaccination to argue that while a liberal state has a general duty to protect its (...) people’s health, there is a limit to the measures this duty can be used to justify. First, I argue that since every available option involves different risks and benefits, the incommensurability of the involved risks and benefits forbids the prioritisation of a particular vaccine. Second, I argue that given epistemic limitations and uncertainty, policies that favour certain vaccines are not only epistemically ill-founded but also morally unacceptable. I conclude that in a highly uncertain situation such as the unfolding pandemic, the duty a liberal state ought to uphold is to properly communicate the knowns and unknowns to the general public and help people decide which option to choose for themselves. I call this duty the duty to facilitate risk-taking. (shrink)

Robert Sparrow recently argues that state-driven moral bioenhancement is morally problematic because it inevitably invites moral perfectionism. While sharing Sparrow’s worry about state-driven moral bioenhancement, I argue that his anti-perfectionism argument is too strong to offer useful normative guidance. That is, if we reject state-driven moral bioenhancement because it cannot remain neutral between different conceptions of the good, we might have to conclude that all forms of moral enhancement program ought not be made compulsory, including the least controversial and most (...) popular state-driven program: compulsory (moral) education. -/- In this paper, I argue that instead, the spirit of Sparrow’s worry should be recast in the language of the capability approach – an approach that strives to enhance people’s capabilities to develop their own conceptions of the good by restricting itself from endorsing thick conceptions of the good. The distinction made regarding thick and thin conceptions of the good helps better capture sentiments against state-driven bioenhancement programs without falling prey to the issues I raise against Sparrow’s anti-perfectionist arguments. (shrink)

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.

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)

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)