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)

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)

The current COVID-19 pandemic and the previous SARS/MERS outbreaks of 2003 and 2012 have resulted in a series of major global public health crises. We argue that in the interest of developing effective and safe vaccines and drugs and to better understand coronaviruses and associated disease mechenisms it is necessary to integrate the large and exponentially growing body of heterogeneous coronavirus data. Ontologies play an important role in standard-based knowledge and data representation, integration, sharing, and analysis. Accordingly, we initiated the (...) development of the community-based Coronavirus Infectious Disease Ontology in early 2020. -/- As an Open Biomedical Ontology (OBO) library ontology, CIDO is open source and interoperable with other existing OBO ontologies. CIDO is aligned with the Basic Formal Ontology and Viral Infectious Disease Ontology. CIDO has imported terms from over 30 OBO ontologies. For example, CIDO imports all SARS-CoV-2 protein terms from the Protein Ontology, COVID-19-related phenotype terms from the Human Phenotype Ontology, and over 100 COVID-19 terms for vaccines (both authorized and in clinical trial) from the Vaccine Ontology. CIDO systematically represents variants of SARS-CoV-2 viruses and over 300 amino acid substitutions therein, along with over 300 diagnostic kits and methods. CIDO also describes hundreds of host-coronavirus protein-protein interactions (PPIs) and the drugs that target proteins in these PPIs. CIDO has been used to model COVID-19 related phenomena in areas such as epidemiology. The scope of CIDO was evaluated by visual analysis supported by a summarization network method. CIDO has been used in various applications such as term standardization, inference, natural language processing (NLP) and clinical data integration. We have applied the amino acid variant knowledge present in CIDO to analyze differences between SARS-CoV-2 Delta and Omicron variants. CIDO's integrative host-coronavirus PPIs and drug-target knowledge has also been used to support drug repurposing for COVID-19 treatment. -/- CIDO represents entities and relations in the domain of coronavirus diseases with a special focus on COVID-19. It supports shared knowledge representation, data and metadata standardization and integration, and has been used in a range of applications. (shrink)

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

Zeugmatic oddness is a linguistic intuition of oddness with respect to an instance of zeugma, i.e. a sentence containing an instance of a homonymous or polysemous word being used in different meanings or senses simultaneously. Zeugmatic oddness is important for philosophical debates as philosophers often use it to argue that a particular philosophically interesting expression is ambiguous and that the phenomenon referred to by the expression is disunified. This paper takes a closer look at zeugmatic oddness. Focusing on relevant psycholinguistic (...) literature on homonymy and polysemy processing and representation, I argue that there are two different ways in which zeugmatic oddness can arise. Philosophical upshots concerning zeugmatic oddness are then drawn. (shrink)

Poetry evokes mental imagery in its readers. But how is mental imagery precisely related to poetry? This article provides a systematic treatment. It clarifies two roles of mental imagery in relation to poetry—as an effect generated by poetry and as an efficient means for understanding and appreciating poetry. The article also relates mental imagery to the discussion on the ‘heresy of paraphrase’. It argues against the orthodox view that the imagistic effects of poetry cannot be captured by prosaic paraphrase, but (...) points to features of poetry that can shape aspects of mental imagery that are liable to be lost in paraphrase. (shrink)

The surface grammar of reports such as ‘I have a pain in my leg’ suggests that pains are objects which are spatially located in parts of the body. We show that the parallel construction is not available in Mandarin. Further, four philosophically important grammatical features of such reports cannot be reproduced. This suggests that arguments and puzzles surrounding such reports may be tracking artefacts of English, rather than philosophically significant features of the world.

Empirical evidence suggests that perceptual‐motor simulations are often constitutively involved in language comprehension. Call this “the simulation view of language comprehension”. This article applies the simulation view to illuminate the much‐discussed phenomenon of copredication, where a noun permits multiple predications which seem to select different senses of the noun simultaneously. On the proposed account, the (in)felicitousness of a copredicational sentence is closely associated with the perceptual simulations that the language user deploys in comprehending the sentence.

It is often said that there is no appearance/reality distinction with respect to consciousness. Call this claim ‘NARD’. In contemporary discussions, NARD is closely connected to the thesis of revelation, the claim that the essences of phenomenal properties are revealed in experience, though the connection between the two requires clarification. This paper distinguishes different versions of NARD and homes in on a particular version that is closely connected to revelation. It shows how revelation and the related version of NARD pose (...) a threat to physicalism. Responses from physicalism and their limitations are also considered. (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 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)

Cross-domain descriptions are descriptions of features pertaining to one domain in terms of vocabulary primarily associated with another domain. Notably, we routinely describe psychological features in terms of the sensory domain and vice versa. Sorrow is said to be ‘bitter’ and fear ‘cold’. Music can be described as ‘happy’, ‘sad’, ‘mournful’, and so on. Such descriptions are rife in both everyday discourse and literary writings. What is it about psychological features that invites descriptions in sensory terms and what is it (...) about the sensory that invites descriptions in terms of the psychological? Drawing on the literature on polysemy, this paper sheds light on cross-domain descriptions pertaining to the sensory and the psychological domains. (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.

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)

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)

Ad hoc concepts feature prominently in lexical pragmatics. A speaker can use a word or phrase to communicate an ad hoc concept that is different from the lexically encoded concept and the hearer can construct the intended ad hoc concept pragmatically during utterance comprehension. I argue that some philosophical concepts have origins as ad hoc concepts, and such concepts pose a challenge for experimental philosophy regarding these concepts. To illustrate this, I consider philosophers’ ‘what-it’s-like’-concepts and experimental philosophy of consciousness.

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)

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)

The feeling of being offended, as a moral emotion, plays a key role in issues such as slurs, the offense principle, ethics of humor, etc. However, no adequate theory of offense has been developed in the literature, and it remains unclear what questions such a theory should answer. This paper attempts to fill the gap by performing two tasks. The first task is to clarify and summarize the questions of offense into two kinds, the descriptive questions (e.g., what features differentiate (...) offense from similar moral states like anger?) and the normative questions (e.g., what are the conditions for taking offense to be apt?). The second task is to answer these questions by developing what I call ‘the violated norm theory of offense’. According to this theory, feeling offended entails that the norm one endorses is judged to be violated by the offender. Appealing to the violated norm enables this theory to answer the descriptive questions (e.g., taking offense differs from anger because of features like not requiring victims and the difficulty of animal offense) and the normative questions of offense (e.g., taking offense is apt only if the violated norm is universalizable). (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)

Integrative Hermeneutics aims to synthesize classical philosophical traditions with contemporary insights derived from modern technologists. This paper explores the foundational aspects of philosophy, including Metaphysics, Axiology, Logic, Epistemology, Ethics, Linguistics, and Pragmatics, and relates them to the embedded tribal knowledge within Polynesian social groups. We propose an innovative hermeneutic framework that aligns traditional wisdom with the dynamic ideologies of the modern technologist, particularly from a Bay Area educational perspective. The discourse aims to be revolutionary, offering novel intersections between ancient and (...) modern, theoretical and practical, philosophical and technological. (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)

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)

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)

The concept of causation is essential for understanding relationships among various phenomena, yet its fundamental nature and the criteria for establishing it continue to be debated. This paper presents a new theory of causation through a quasi-axiomatic approach. The core of this framework is Probability Distribution Determinism (PDD), which updates traditional determinism by representing states of affairs as probability distributions, with the if-then function serving as its foundational definition. Based on PDD, by merely using appropriate naming strategies, it is possible (...) to derive systems in which the structural characteristics of relationships among things closely resemble those in the real world, such as having various forms of nested hierarchies. Additionally, there are two related yet distinctly different contexts about relationships in PDD: one emphasizes the potential influence of conditions on outcomes in the general sense, while the other focuses on attributing responsibility for the state changes in specific scenarios. The formula for determining the relationship in the general sense is established as S(Y |S1(X), Ψ) ̸≡ S(Y |S2(X), Ψ). Subsequently, within the PDD framework, the paper clarifies the legitimate use of a series of concepts related to causation in those two contexts, thus encompassing the entire detailed connotation of the concept of causation. The comparison with other theories of causation and the analysis of case applications demonstrate that the new theory applies not only to situations where other theories are competent but also to situations where they are not. This suggests that, although certain aspects within the new framework may require further analysis, it provides a highly promising direction for a deeper understanding of causation. (shrink)

Paintings of music are a significant presence in modern art. They are cross-modal representations, aimed at representing music, say, musical works or forms, using colors, lines, and shapes in the visual modality. This article aims to provide a conceptual framework for understanding paintings of music. Using examples from modern art, the article addresses the question of what a painting of music is. Implications for the aesthetic appreciation of paintings of music are also drawn.

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)

Most theories of slurs fall into one of two families: those which understand slurring terms to involve special descriptive/informational content (however conveyed), and those which understand them to encode special emotive/expressive content. Our view is that both offer essential insights, but that part of what sets slurs apart is use-theoretic content. In particular, we urge that slurring words belong at the intersection of a number of categories in a sociolinguistic register taxonomy, one that usually includes [+slang] and [+vulgar] and always (...) includes [-polite] and [+derogatory]. Thus, e.g., what distinguishes ‘Chinese’ from ‘chink’ is neither a peculiar sort of descriptive nor emotional content, but rather the fact that ‘chink’ is lexically marked as belonging to different registers than ‘Chinese’. It is, moreover, partly such facts which makes slurring ethically unacceptable. (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.

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.

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)

Philosophers disagree about what the folk concept of pain is. This paper criticises existing theories of the folk concept of pain, i.e. the mental view, the bodily view, and the recently proposed polyeidic view. It puts forward an alternative proposal – the polysemy view – according to which pain terms like “sore,” “ache” and “hurt” are polysemous, where one sense refers to a mental state and another a bodily state, and the type of polysemy at issue reflects two distinct but (...) related concepts of pain. Implications with respect to issues in philosophy of pain are also drawn. (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)

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 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 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 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 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)

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 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)

The paradox of pain refers to the idea that the folk concept of pain is paradoxical, treating pains as simultaneously mental states and bodily states. By taking a close look at our pain terms, this paper argues that there is no paradox of pain. The air of paradox dissolves once we recognize that pain terms are polysemous and that there are two separate but related concepts of pain rather than one.

Recent research in psycholinguistics suggests that language processing frequently involves mental imagery. This paper focuses on visual imagery and discusses two issues regarding the processing of polysemous words (i.e. words with multiple related meanings or senses) – co-predication and sense-relatedness. It aims to show how mental imagery can illuminate these two issues.

Since its emergence in the 1950s, analytic aesthetics has become the mainstream approach to aesthetics in the English-speaking world, and it has subsequently spread throughout most of the world, including mainland China. Although it was introduced into the Chinese academic world at an early time, around the late 1950s, and has been disseminated and researched in China over the past three decades, analytic aesthetics remains underdeveloped in China. Chinese academics tend to have little familiarity with, and exposure to, analytic approaches (...) to aesthetics. Unsurprisingly, given this situation, Chinese contributions to analytic aesthetics have had a marginal impact on the international academic discussion. This paper aims at providing a picture of the development of analytic aesthetics in China. In section 1, I clarify the scope of the paper. Section 2 briefly introduces aesthetics in China so as to outline the context for our discussion about analytic aesthetics. In section 3, I first offer a brief historical narrative of the dissemination and reception of analytic aesthetics in China, and then explore how analytic aesthetics has been researched and taught in China. -/- . (shrink)

Can an agent deliberating about an action A hold a meaningful credence that she will do A? 'No', say some authors, for 'Deliberation Crowds Out Prediction' (DCOP). Others disagree, but we argue here that such disagreements are often terminological. We explain why DCOP holds in a Ramseyian operationalist model of credence, but show that it is trivial to extend this model so that DCOP fails. We then discuss a model due to Joyce, and show that Joyce's rejection of DCOP rests (...) on terminological choices about terms such as 'intention', 'prediction', and 'belief'. Once these choices are in view, they reveal underlying agreement between Joyce and the DCOP-favouring tradition that descends from Ramsey. Joyce's Evidential Autonomy Thesis (EAT) is effectively DCOP, in different terminological clothing. Both principles rest on the so-called 'transparency' of first-person present-tensed reflection on one's own mental states. (shrink)

The rigor and precision of Leibniz's "possible world" evolved into the concept of Turing machine, and with the birth of the first computer and the physical realization of Turing machine, human cognitive and intelligent activities were optimistically considered by cognitive scientists to be convertible into computational programs for simulation by machines. Cognitive science then formed the research agenda of "cognitive computationalism", and our Chinese scholars have responded to this general view that "the essence of cognition is computation" and that the (...) human brain and computers are merely formal systems for manipulating and processing symbols in their respective fields. Professor Hong Dingguo used the concepts of "manifest order" and "hidden order", Professor Jin Gulun used the philosophical categories of "constitutive theory" and "generative theory", and Liu Yuesheng used the concept of "cognition". Professor Hong Dingguo reinterpreted the relationship between the "real world" and the "possible world" by using the concepts of "manifest sequence" and "hidden sequence", Professor Jin Wulun used the philosophical categories of "composition theory" and "generation theory", and Professor Liu Yuesheng used the generalized information paradigm of "structural information" and "exchange information". "This provides a profound elucidation of the nature of cognitive logic and the process of human cognitive activities becoming symbols through coding and puts forward theoretical limits. The current theoretical dilemma and practical difficulty of cognitive science lies in the fact that it has developed algorithmic concepts in the Turing sense that can only model the explicitly sequential part of cognitive and intellectual activity, forming a constitutive atomic abstraction, or in our terms, classical "structural information", which cannot fully explain the inner mechanisms of human mental activity and its embodied flexibility, selectivity and self-emergence. Wu Xuemou's pan-system theory does not simply rely on logic and Turing machine algorithms, but models human intelligence by treating structural information as a complex large system composed of a collection of elements and a collection of relations (exchange information: five mutual eight chips), in order to break through the narrow path of seeking only the local consistency of the system as currently done; while Wang Dekui's exploration of the three-spin biological and physical path and Huang Zhanji's abandonment of the artificial means of logic to seek the large logical natural mechanisms and Mr. Zhou Liquan's proposal of a schema for successful communication using natural language on the basis of concepts such as context and implicit connotation ("Logic — A Theory of Correct Thinking and Successful Communication"), all reflect the milestones of Chinese scholars who seek to address the deeper issues of cognitive science. We believe that along this series of explorations, combined with new results in recent years in the fields of artificial life and evolutionary computation, a new research agenda in cognitive science will emerge. (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)

There is a long-standing disagreement in the philosophy of probability and Bayesian decision theory about whether an agent can hold a meaningful credence about an upcoming action, while she deliberates about what to do. Can she believe that it is, say, 70% probable that she will do A, while she chooses whether to do A? No, say some philosophers, for Deliberation Crowds Out Prediction (DCOP), but others disagree. In this paper, we propose a valid core for DCOP, and identify terminological (...) causes for some of the apparent disputes. (shrink)