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)

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)

Is shame an accomplice of external oppressive values or an introspective emotion that reveals one’s true moral character? We track these conflicting intuitions about shame and argue that they point to several understudied social features of shame. We then lay out a more nuanced and inclusive view of shame that accounts for meaningful life-long interactions between self and community. This view emphasizes both personal agency in navigating shame-related experiences and the social challenges to such agency, namely the social structures and (...) values that breed shame for some people while exempting others. We argue that individuals demonstrate their agency in managing the emotion of shame not just through their private attitudes, by accepting, negotiating, or rejecting specific values, but also through social action, by identifying with some communities and distancing themselves from others. In pointing out that shame is a double-edged sword—harmful in ways not discussed before, yet also morally potent by propelling individual agency—we hope to add much-needed complexity to the discussion of shame. (shrink)

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)

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.

Di er ci Qimeng (The second Enlightenment), by Wang Zhihe and Fan Meijun, is a timely book in Chinese about constructing a philosophical and practical way to contend with China's postmodernization. It combines Whitehead's process philosophy with a focus on Chinese modernity in order to map out a desirable postmodern society. It addresses the problem on several dimensions from policy making to basic value systems. The range of themes can be seen from the topics of the book's twelve chapters: (...) (1) Reverence for Land—Toward a Constructive Postmodern Agriculture; (2) Becoming Fully Human—Toward a Postmodern Organic Education; (3) Survival of the Harmonious-Toward a Constructive Postmodern Harmonious Culture; (4) Beauty .. (shrink)

This article proposes a term structure model for dual-currency interest rate markets. The model assumes that volatility is a deterministic function of time alone. This volatility structure can reduce the dimension of the required state variables. An important special case is presented, which corresponds essentially to a Vasicek/Hull-White yield curve model in each currency. The model is very useful for pricing cross-currency derivatives.

This study attempts to reconstruct Nietzsche’s reading of Aristotle in the 1860s and 1870s—the years before he left his career as a philologist. Against the popular view that Nietzsche read only one book by Aristotle, namely the Rhetoric, the present study hopes to show that he had direct knowledge of several of Aristotle’s main works, while much of his interest in Aristotle centred on the latter’s account of art. The particular aim of this study is to explore how Nietzsche’s reading (...) of Aristotle contributed to the formation of The Birth of Tragedy. It will show that, although Nietzsche mentions Aristotle in his first book only en passant, his theory of tragedy should be understood against the background of Aristotelian poetics, especially as interpreted by such contemporaries as Jacob Bernays, Joseph Hubert Reinkens, and Gustav Teichmüller. (shrink)

ABSTRACT In a Buddhist treatise from around the fourth century CE there is a very remarkable story which serves as a thought experiment calling us to question the nature of self and the identity of persons. Lost in Sanskrit, the passage is fortunately preserved in a Chinese translation, the Dà zhìdù lùn. We here present the first reliable translation directly from the Classical Chinese, and discuss the philosophical significance of the story in its historical and literary context. We emphasise the (...) philosophical importance of embedding the story in two framing narratives, and demonstrate that the story taps a range of intuitions, and indeed fears, about the survival of the self which have also played a large role in the history of the topic in the West, and which continue to be of great contemporary concern. (shrink)

Name der Zeitschrift: Nietzsche-Studien Jahrgang: 46 Heft: 1 Seiten: 242-242.

This paper reconciles an inconsistency between the benefits of mind wandering and a prominent conception of attention in philosophy and cognitive psychology, namely, the prioritization view. Since we prioritize the information in a task less if we are doing it while mind wandering compared to solely concentrating on it, why does our performance in the task sometimes improve when we are mind wandering? To explain this, we offer a conception of diffuse attention that generalizes from external to internal forms of (...) attention and captures deep commonalities between the two (Chun et al. 2011). We conceptualize mind wandering as an instance of internal diffuse attention that also induces diffuse attention in other concurrent tasks. Moreover, pace the prioritization view, certain tasks are in fact better performed with diffuse attention, which prioritizes information less than focused attention. Our account of mind wandering as an instance of the more general category of diffuse attention improves upon current leading philosophical views of mind wandering (such as Irving 2016) by better explaining the interaction between mind wandering and other tasks. (shrink)

A fundamental entity is an entity that is ‘ontologically independent’; it does not depend on anything else for its existence or essence. It seems to follow that a fundamental entity is ‘modally free’ in some sense. This assumption, that fundamentality entails modal freedom (or ‘FEMF’ as I shall label the thesis), is used in the service of other arguments in metaphysics. But as I will argue, the road from fundamentality to modal freedom is not so straightforward. The defender of FEMF (...) should provide positive reasons for believing it, especially in light of recent views that are incompatible with it. I examine both direct and indirect routes to FEMF. (shrink)

Shame is frequently viewed as a destructive emotion; but it can also be understood in terms of change and growth. This essay highlights the problematic values that cause pervasive and frequent shame and the importance of resisting and changing these values. Using Confucian insights, I situate shame in an interactive process between the individual's values and that of their society, thus, being vulnerable to shame represents both one's connection to a community and an openness to others’ negative feedback. This process (...) provides an important arena where personal values interact with communal ones. The Confucian tradition, I argue, affords individuals a degree of autonomy in internalization through urging them to cultivate and maintain a keen sense of shame. My discussion also offers resources for understanding the various aspects of this interactive process—how individuals with similar experiences of shame may, through channeling their experiences, influence social values and propel moral progress. (shrink)

This chapter advocates for a naturalistic ethical framework that bases normative components in basic human functions, such as emotions, as an effective approach to address intergenerational ethics questions. Using Mencius’s ethical framework as an example, which establishes emotional pivot points to incorporate others’ concerns and worries into moral deliberation, the chapter argues that this approach provides significant theoretical advantages over frameworks that rely on a familial-role-based relational understanding of Confucian ethics and moral cultivation through rituals. The chapter also highlights the (...) flexibility and adaptability of Mencian ethics, which was redeveloped over a thousand years later during the Neo-Confucian flowering and serves as evidence of its philosophical framework’s ability to connect people emotionally and ethically across time. (shrink)

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

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)

Kuhn's alleged taxonomic interpretation of incommensurability is grounded on an ill defined notion of untranslatability and is hence radically incomplete. To supplement it, I reconstruct Kuhn's taxonomic interpretation on the basis of a logical-semantic theory of taxonomy, a semantic theory of truth-value, and a truth-value conditional theory of cross-language communication. According to the reconstruction, two scientific languages are incommensurable when core sentences of one language, which have truth values when considered within its own context, lack truth values when considered within (...) the context of the other due to the unmatchable taxonomic structures underlying them. So constructed, Kuhn's mature interpretation of incommensurability does not depend upon the notion of truth-preserving translatability, but rather depends on the notion of truth-value-status-preserving cross-language communication. The reconstruction makes Kuhn's notion of incommensurability a well grounded, tenable and integrated notion.Author Keywords: Incommensurability; Thomas Kuhn; Taxonomic structures; Lexicons; Truth-value; Untranslatability; Cross-language communication. (shrink)

The issue of the use of the Nachlass material has been much debated in Nietzsche scholarship in recent decades. Some insist on the absolute interpretative priority of his published writings over those unpublished and suggest that an extensive engagement with the Nachlass is harmful because it is something Nietzsche rejected. To verify this claim, they appeal to the story of Nietzsche asking his landlord in Sils-Maria to burn some of his notes. Since the notes that were ultimately retrieved are purportedly (...) incorporated into the compilation The Will to Power, the story also leads some to conclude that Nietzsche rejected his project on the will to power. However, the reliability of this story has been questioned. In this manuscript I first present the decisive piece of evidence that will settle the controversy over the story’s authenticity. After showing that it is true that in 1888 Nietzsche wanted some of his notes burned, I address the question of what we can conclude from this story. I argue that it neither suggests the abandonment of the will to power project, nor warrants a devaluation of the Nachlass. Finally, I will discuss the methodological problem of the use of Nietzsche’s Nachlass in general. (shrink)

This paper investigates the question of how subjective probability should relate to binary belief. We propose new distance minimization methods, and develop epistemic decision-theoretic accounts. Both approaches can be shown to get “close” to the truth: the first one by getting “close” to a given probability, and the second by getting expectedly “close” to the truth. More specifically, we study distance minimization with a refined notion of Bregman divergence and expected utility maximization with strict proper scores. Our main results reveal (...) that the two ways to get “close” to the truth can coincide. (shrink)

In the first Critique, Kant famously holds a novel practical notion of Belief (Glauben) as assent justified not by evidence but by practical considerations. This paper examines the early development of Kant’s practical notion of Belief prior to the first Critique. It aims to make clear what prompted Kant to develop this notion in the first place, and how this notion came to assume its crucial role in Kant’s critical system. This development, I argue, has two main steps. The first (...) is his introduction of a practical notion of Belief in mid-to-late 1760s. I argue that he did so because he regards this notion as a useful tool to get ordinary people to justifiably commit to the existence of God and an after-life. The second step is Kant’s abandonment of the objective validity of his logical proof of God around 1772. This step elevated Belief from a merely useful means to the only justified way to commit to the existence of God and an after-life. This second step, I argue, is closely connected to Kant’s pivot to the view that the objective validity of concepts requires sensibly given objects, and it is motivated by Kant’s concern with subject-cancelling real repugnance. (shrink)

Name der Zeitschrift: Nietzsche-Studien Jahrgang: 44 Heft: 1 Seiten: 516-531.

Various theorists have endorsed the “communication argument”: communicative capacities are necessary for morally responsible agency because blame aims at a distinctive kind of moral communication. I contend that existing versions of the argument, including those defended by Gary Watson and Coleen Macnamara, face a pluralist challenge: they do not seem to sit well with the plausible view that blame has multiple aims. I then examine three possible rejoinders to the challenge, suggesting that a context-specific, function-based approach constitutes the most promising (...) modification of the communication argument. (shrink)

Despite Donald Davidson's influential criticism of the very notion of conceptual schemes, the notion continues enjoying its popularity in contemporary philosophy and, accordingly, conceptual relativism is still very much alive. There is one major reason responsible for Davidson's failure which has not been widely recognized: What Davidson attacks fiercely is not the very notion, but a notion of conceptual schemes, namely, the Quinean notion of conceptual schemes and its underlying Kantian scheme-content dualism. However, such a notion simply cannot carry the (...) weight of conceptual relativism for it does not catch the essences of conceptual relativism. Consequently, I argue that the very notion of conceptual schemes and conceptual relativism have survived Davidson's attack. Therefore, the failure of the Quinean notion of conceptual schemes and Kantian scheme-content dualism, even if Davidson can claim victory, does not mark the end of the very notion of conceptual schemes.[ABSTRACT FROM AUTHOR]. (shrink)

Name der Zeitschrift: Nietzsche-Studien Jahrgang: 47 Heft: 1 Seiten: 364-366.

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)

Name der Zeitschrift: Nietzsche-Studien Jahrgang: 46 Heft: 1 Seiten: 235-235.

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)

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)

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)

By laying bare the philosophical prejudices underlying certain modern deprecations of Confucianism, this article defends the integrity of Confucian civilization and reclaims its significance for the modern world. Taking on a typical criticism of Confucian Ethics by Alsadire MacIntyre, I argue that the ideal of Confucian self can be defined neither in terms of Western concepts of autonomy nor heteronomy; it consists rather in a kind of virtuosity as inspired by the empathetic openness of the self. Through a comparative study (...) of Confucian and typical Western ethical theories, I will demonstrate further how the empathetic embodiment of the Confucian self informs an order of ritual that may still be relevant for the modern world in promoting harmonious social and political orders that can elevate the conventional and current power hierarchies into the virtuous rule of benefaction. (shrink)

Why is mutual understanding between two substantially different comprehensive language communities often problematic and even unattainable? To answer this question, the author first introduces a notion of presuppositional languages. Based on the semantic structure of a presuppositional language, the author identifies a significant condition necessary for effective understanding of a language: the interpreter is able to effectively understand a language only if he/she is able to recognize and comprehend its metaphysical presuppositions. The essential role of the knowledge of metaphysical presuppositions (...) in understanding is further strengthened by developing a truth-value conditional theory of understanding. It is concluded that if the interpreter approaches an incompatible alien language from the standpoint of the interpreter's own language by projecting the metaphysical presuppositions of his/her own language upon the alien language, then the mutual understanding between the two language communities is doomed to failure. (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)

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)

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.

on how to justify the rationality of sciences.

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)

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.

According to the received translational interpretation of incommensurability, incommensurability is viewed as untranslatability due to radical variance of meaning or reference of the terms in two competing scientific languages. The author argues that the translational approach to incommensurability does not effectively clarify the concept of incommensurability. Since it cannot provide us with tenable, integrated concept of incommensurability, it should be rejected.

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)

Against the received translation-failure interpretation, this book presents a presuppositional interpretation of incommensurability, that is, the thesis of incommensurability as cross-language communication breakdown due to the incompatible metaphysical presuppositions underlying two competing presuppositional languages, such as scientific languages. This semantically sound, epistemologically well-established, and metaphysically profound interpretation not only affirms the tenability of the notion of incommensurability and confirms the reality of the phenomenon of incommensurability, but also makes some significant contributions to the discussion of many related issues, such as (...) the notion of conceptual schemes, the notion of truth-value status and truth-value conditions, and the issue of cross-language understanding and communication. (shrink)