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.

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

In a quantum universe with a strong arrow of time, we postulate a low-entropy boundary condition to account for the temporal asymmetry. In this paper, I show that the Past Hypothesis also contains enough information to simplify the quantum ontology and define a unique initial condition in such a world. First, I introduce Density Matrix Realism, the thesis that the quantum universe is described by a fundamental density matrix that represents something objective. This stands in sharp contrast to Wave Function (...) Realism, the thesis that the quantum universe is described by a wave function that represents something objective. Second, I suggest that the Past Hypothesis is sufficient to determine a unique and simple density matrix. This is achieved by what I call the Initial Projection Hypothesis: the initial density matrix of the universe is the normalized projection onto the special low-dimensional Hilbert space. Third, because the initial quantum state is unique and simple, we have a strong case for the \emph{Nomological Thesis}: the initial quantum state of the universe is on a par with laws of nature. This new package of ideas has several interesting implications, including on the harmony between statistical mechanics and quantum mechanics, the dynamic unity of the universe and the subsystems, and the alleged conflict between Humean supervenience and quantum entanglement. (shrink)

A century after the discovery of quantum mechanics, the meaning of quantum mechanics still remains elusive. This is largely due to the puzzling nature of the wave function, the central object in quantum mechanics. If we are realists about quantum mechanics, how should we understand the wave function? What does it represent? What is its physical meaning? Answering these questions would improve our understanding of what it means to be a realist about quantum mechanics. In this survey article, I review (...) and compare several realist interpretations of the wave function. They fall into three categories: ontological interpretations, nomological interpretations, and the sui generis interpretation. For simplicity, I will focus on non-relativistic quantum mechanics. (shrink)

If there are fundamental laws of nature, can they fail to be exact? In this paper, I consider the possibility that some fundamental laws are vague. I call this phenomenon 'fundamental nomic vagueness.' I characterize fundamental nomic vagueness as the existence of borderline lawful worlds and the presence of several other accompanying features. Under certain assumptions, such vagueness prevents the fundamental physical theory from being completely expressible in the mathematical language. Moreover, I suggest that such vagueness can be regarded as (...) 'vagueness in the world.' For a case study, we turn to the Past Hypothesis, a postulate that (partially) explains the direction of time in our world. We have reasons to take it seriously as a candidate fundamental law of nature. Yet it is vague: it admits borderline (nomologically) possible worlds. An exact version would lead to an untraceable arbitrariness absent in any other fundamental laws. However, the dilemma between fundamental nomic vagueness and untraceable arbitrariness is dissolved in a new quantum theory of time's arrow. (shrink)

The mathematical structure of realist quantum theories has given rise to a debate about how our ordinary 3-dimensional space is related to the 3N-dimensional configuration space on which the wave function is defined. Which of the two spaces is our (more) fundamental physical space? I review the debate between 3N-Fundamentalists and 3D-Fundamentalists and evaluate it based on three criteria. I argue that when we consider which view leads to a deeper understanding of the physical world, especially given the deeper topological (...) explanation from the unordered configurations to the Symmetrization Postulate, we have strong reasons in favor of 3D-Fundamentalism. I conclude that our evidence favors the view that our fundamental physical space in a quantum world is 3-dimensional rather than 3N-dimensional. I outline lines of future research where the evidential balance can be restored or reversed. Finally, I draw lessons from this case study to the debate about theoretical equivalence. (shrink)

Gila Sher interviewed by Chen Bo: -/- I. Academic Background and Earlier Research: 1. Sher’s early years. 2. Intellectual influence: Kant, Quine, and Tarski. 3. Origin and main Ideas of The Bounds of Logic. 4. Branching quantifiers and IF logic. 5. Preparation for the next step. -/- II. Foundational Holism and a Post-Quinean Model of Knowledge: 1. General characterization of foundational holism. 2. Circularity, infinite regress, and philosophical arguments. 3. Comparing foundational holism and foundherentism. 4. A post-Quinean model of (...) knowledge. 5. Intellect and figuring out. 6. Comparing foundational holism with Quine’s holism. 7. Evaluation of Quine’s Philosophy -/- III. Substantive Theory of Truth and Relevant Issues: 1. Outline of Sher’s substantive theory of truth. 2. Criticism of deflationism and treatment of the Liar. 3. Comparing Sher’s substantive theory of truth with Tarski’s theory of truth. -/- IV. A New Philosophy of Logic and Comparison with Other Theories: 1. Foundational account of logic. 2. Standard of logicality, set theory and logic. 3. Psychologism, Hanna’s and Maddy’s conceptions of logic. 4. Quine’s theses about the revisability of logic. -/- V. Epilogue. (shrink)

The Great Divide in metaphysical debates about laws of nature is between Humeans, who think that laws merely describe the distribution of matter, and non-Humeans, who think that laws govern it. The metaphysics can place demands on the proper formulations of physical theories. It is sometimes assumed that the governing view requires a fundamental / intrinsic direction of time: to govern, laws must be dynamical, producing later states of the world from earlier ones, in accord with the fundamental direction of (...) time in the universe. In this paper, we propose a minimal primitivism about laws of nature (MinP) according to which there is no such requirement. On our view, laws govern by constraining the physical possibilities. Our view captures the essence of the governing view without taking on extraneous commitments about the direction of time or dynamic production. Moreover, as a version of primitivism, our view requires no reduction / analysis of laws in terms of universals, powers, or dispositions. Our view accommodates several potential candidates for fundamental laws, including the principle of least action, the Past Hypothesis, the Einstein equation of general relativity, and even controversial examples found in the Wheeler-Feynman theory of electrodynamics and retrocausal theories of quantum mechanics. By understanding governing as constraining, non-Humeans who accept MinP have the same freedom to contemplate a wide variety of candidate fundamental laws as Humeans do. (shrink)

In a quantum universe with a strong arrow of time, it is standard to postulate that the initial wave function started in a particular macrostate---the special low-entropy macrostate selected by the Past Hypothesis. Moreover, there is an additional postulate about statistical mechanical probabilities according to which the initial wave function is a ''typical'' choice in the macrostate. Together, they support a probabilistic version of the Second Law of Thermodynamics: typical initial wave functions will increase in entropy. Hence, there are two (...) sources of randomness in such a universe: the quantum-mechanical probabilities of the Born rule and the statistical mechanical probabilities of the Statistical Postulate. I propose a new way to understand time's arrow in a quantum universe. It is based on what I call the Thermodynamic Theories of Quantum Mechanics. According to this perspective, there is a natural choice for the initial quantum state of the universe, which is given by not a wave function but by a density matrix. The density matrix plays a microscopic role: it appears in the fundamental dynamical equations of those theories. The density matrix also plays a macroscopic / thermodynamic role: it is exactly the projection operator onto the Past Hypothesis subspace. Thus, given an initial subspace, we obtain a unique choice of the initial density matrix. I call this property "the conditional uniqueness" of the initial quantum state. The conditional uniqueness provides a new and general strategy to eliminate statistical mechanical probabilities in the fundamental physical theories, by which we can reduce the two sources of randomness to only the quantum mechanical one. I also explore the idea of an absolutely unique initial quantum state, in a way that might realize Penrose's idea of a strongly deterministic universe. (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)

If the Past Hypothesis underlies the arrows of time, what is the status of the Past Hypothesis? In this paper, I examine the role of the Past Hypothesis in the Boltzmannian account and defend the view that the Past Hypothesis is a candidate fundamental law of nature. Such a view is known to be compatible with Humeanism about laws, but as I argue it is also supported by a minimal non-Humean "governing'' view. Some worries arise from the non-dynamical and time-dependent (...) character of the Past Hypothesis as a boundary condition, the intrinsic vagueness in its specification, and the nature of the initial probability distribution. I show that these worries do not have much force, and in any case they become less relevant in a new quantum framework for analyzing time's arrows---the Wentaculus. Hence, the view that the Past Hypothesis is a candidate fundamental law should be more widely accepted than it is now. (shrink)

Although expected utility theory has proven a fruitful and elegant theory in the finite realm, attempts to generalize it to infinite values have resulted in many paradoxes. In this paper, we argue that the use of John Conway's surreal numbers shall provide a firm mathematical foundation for transfinite decision theory. To that end, we prove a surreal representation theorem and show that our surreal decision theory respects dominance reasoning even in the case of infinite values. We then bring our theory (...) to bear on one of the more venerable decision problems in the literature: Pascal's Wager. Analyzing the wager showcases our theory's virtues and advantages. To that end, we analyze two objections against the wager: Mixed Strategies and Many Gods. After formulating the two objections in the framework of surreal utilities and probabilities, our theory correctly predicts that (1) the pure Pascalian strategy beats all mixed strategies, and (2) what one should do in a Pascalian decision problem depends on what one's credence function is like. Our analysis therefore suggests that although Pascal's Wager is mathematically coherent, it does not deliver what it purports to, a rationally compelling argument that people should lead a religious life regardless of how confident they are in theism and its alternatives. (shrink)

A strongly deterministic theory of physics is one that permits exactly one possible history of the universe. In the words of Penrose (1989), "it is not just a matter of the future being determined by the past; the entire history of the universe is fixed, according to some precise mathematical scheme, for all time.” Such an extraordinary feature may appear unattainable in a world like ours. In this paper, I show that it can be achieved in a simple way and (...) discuss its implications for metaphysics and philosophy of science, including natural properties, free will, explanation, and modality. First, I propose a precise definition of strong determinism. Next, I discuss its philosophical ramifications and a toy example. Finally, I provide a realistic example of a strongly deterministic (and simple) physical theory---the Everettian Wentaculus. A surprising consequence is that whether or not our world is strongly deterministic may be empirically underdetermined. (shrink)

What is the quantum state of the universe? Although there have been several interesting suggestions, the question remains open. In this paper, I consider a natural choice for the universal quantum state arising from the Past Hypothesis, a boundary condition that accounts for the time-asymmetry of the universe. The natural choice is given not by a wave function but by a density matrix. I begin by classifying quantum theories into two types: theories with a fundamental wave function and theories with (...) a fundamental density matrix. The Past Hypothesis is compatible with infinitely many initial wave functions, none of which seems to be particularly natural. However, once we turn to density matrices, the Past Hypothesis provides a natural choice---the normalized projection onto the Past Hypothesis subspace in the Hilbert space. Nevertheless, the two types of theories can be empirically equivalent. To provide a concrete understanding of the empirical equivalence, I provide a novel subsystem analysis in the context of Bohmian theories. Given the empirical equivalence, it seems empirically underdetermined whether the universe is in a pure state or a mixed state. Finally, I discuss some theoretical payoffs of the density-matrix theories and present some open problems for future research. (Bibliographic note: the thesis was submitted for the Master of Science in mathematics at Rutgers University.). (shrink)

Two of the most difficult problems in the foundations of physics are (1) what gives rise to the arrow of time and (2) what the ontology of quantum mechanics is. I propose a unified 'Humean' solution to the two problems. Humeanism allows us to incorporate the Past Hypothesis and the Statistical Postulate into the best system, which we then use to simplify the quantum state of the universe. This enables us to confer the nomological status to the quantum state in (...) a way that adds no significant complexity to the best system and solves the ''supervenient-kind problem'' facing the original version of the Past Hypothesis. We call the resultant theory the Humean unification. It provides a unified explanation of time asymmetry and quantum entanglement. On this theory, what gives rise to time's arrow is also responsible for quantum phenomena. The new theory has a separable mosaic, a best system that is simple and non-vague, less tension between quantum mechanics and special relativity, and a higher degree of theoretical and dynamical unity. The Humean unification leads to new insights that can be useful to Humeans and non-Humeans alike. (shrink)

Mystical religious experiences typically purport to engage with the transcendent and often claim to involve encounters with spiritual entities or a detachment from the material world. Daoism diverges from this paradigm. This paper examines Daoist mystical experiences of bodily transformations and explores their epistemological implications. Specifically, we defend the justificatory power of Daoist somatic experiences against the disanalogy objection. The disanalogy objection posits that mystical experiences, in contrast to sense perceptions, are not socially verifiable and thereby lack prima facie epistemic (...) value. We argue that some Daoist mystical bodily states, being essentially spatiotemporal, are exempt from this challenge. This leads to a broader understanding of mysticism and offers a partial resolution to the disanalogy objection. (shrink)

Realism about quantum theory naturally leads to realism about the quantum state of the universe. It leaves open whether it is a pure state represented by a wave function, or an impure one represented by a density matrix. I characterize and elaborate on Density Matrix Realism, the thesis that the universal quantum state is objective but can be impure. To clarify the thesis, I compare it with Wave Function Realism, explain the conditions under which they are empirically equivalent, consider two (...) generalizations of Density Matrix Realism, and answer some frequently asked questions. I end by highlighting an implication for scientific realism. (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.

In this short survey article, I discuss Bell’s theorem and some strategies that attempt to avoid the conclusion of non-locality. I focus on two that intersect with the philosophy of probability: (1) quantum probabilities and (2) superdeterminism. The issues they raised not only apply to a wide class of no-go theorems about quantum mechanics but are also of general philosophical interest.

Item response theory (IRT) is a modern psychometric framework for estimating respondents’ latent traits (e.g., ability, attitude, and personality) based on their responses to a set of questions in psychological tests. The current study adopted an item response tree (IRTree) method, which combines the tree model with IRT models for handling the sequential process of responding to a test item, to score individual moral inclination for the CNI test—a broadly adopted model for examining humans’ moral decision-making with three parameters generated: (...) sensitivity to moral norms, sensitivity to consequences, and inaction preference. Compared to previous models for the CNI test, the resulting EIRTree-CNI Model is able to generate individual scores without increasing the number of items (thus, less subject fatigue or compromised response quality) or employing a post hoc approach that is deemed statistically suboptimal. The model fits the data well, and the subsequent test also supported the concurrent validity and the predictive validity of the model. Limitations are discussed further. (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)

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 examines the relationship of ethical decision-making by individuals to corporate business ethics and organizational performance of three groups: SMEs, Outstanding SMEs and Large Enterprises, in order to provide a reference for Taiwanese entrepreneurs to practice better business ethics. The survey method involved random sampling of 132 enterprises within three groups. Some 524 out of 1320 questionnaires were valid. The survey results demonstrated that ethical decision-making by individuals, corporate business ethics and organizational performance are highly related. In summary, then, (...) high levels of organizational performance were directly attributable to high levels of applied corporate and individual ethics. Furthermore, there is a demonstrable tendency for Outstanding SMEs to reject ethically unsound practices such as padded expense accounts, tax evasion and misleading advertising. The measurement criteria used to assess organizational performance, however, did not include an objective evaluation of financial performance. (shrink)

Contextualist accounts of “woman,” including Saul (2012), Diaz-Leon (2016), and Ichikawa (2020), aim to capture the variability of the meaning of the term, and do justice to the rights of trans women. I argue that (i) there is an internal tension between a contextualist stance and the commitment to trans-inclusive language, and that (ii) we should recognize and tackle the broader and deeper theoretical and practical difficulties implicit in the semantic debates, rather than collapsing them all into semantics. Moving on, (...) I sketch three strategies to help us advance feminist philosophical endeavors, including how attending to contextual matters can lead us to further reflect on the meta-contextual, such as our role in shaping contexts and whether the working of language is indicative of a larger oppressive social structure. (shrink)

Physical laws are strikingly simple, although there is no a priori reason they must be so. I propose that nomic realists of all types (Humeans and non-Humeans) should accept that simplicity is a fundamental epistemic guide for discovering and evaluating candidate physical laws. This principle of simplicity clarifies and addresses several problems of nomic realism and simplicity. A consequence is that the oft-cited epistemic advantage of Humeanism over non-Humeanism disappears, undercutting an influential epistemological argument for Humeanism. Moreover, simplicity is shown (...) to be more tightly connected to lawhood than to mere truth. (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)

One of the most difficult problems in the foundations of physics is what gives rise to the arrow of time. Since the fundamental dynamical laws of physics are (essentially) symmetric in time, the explanation for time's arrow must come from elsewhere. A promising explanation introduces a special cosmological initial condition, now called the Past Hypothesis: the universe started in a low-entropy state. Unfortunately, in a universe where there are many copies of us (in the distant ''past'' or the distant ''future''), (...) the Past Hypothesis is not enough; we also need to postulate self-locating (de se) probabilities. However, I show that we can similarly use self-locating probabilities to strengthen its rival---the Fluctuation Hypothesis, leading to in-principle empirical underdetermination and radical epistemological skepticism. The underdetermination is robust in the sense that it is not resolved by the usual appeal to 'empirical coherence' or 'simplicity.' That is a serious problem for the vision of providing a completely scientific explanation of time's arrow. (shrink)

Reluctance to adopt mask-wearing as a preventive measure is widely observed in many Western societies since the beginning of the COVID-19 pandemics. This reluctance toward mask adoption, like any other complex social phenomena, will have multiple causes. Plausible explanations have been identified, including political polarization, skepticism about media reports and the authority of public health agencies, and concerns over liberty, amongst others. In this paper, we propose potential explanations hitherto unnoticed, based on the framework of epistemic injustice. We show how (...) testimonial injustice and hermeneutical injustice may be at work to shape the reluctant mask adoption at both the societal and individual levels. We end by suggesting how overcoming these epistemic injustices can benefit the global community in this challenging situation and in the future. (shrink)

Harry Frankfurt had insightfully pointed out that an agent acts freely when he acts in accord with the mental states with which he identifies. The concept of identification rightly captures the ownership condition (something being one’s really own), which plays a significant role in the issues of freedom and moral responsibility. For Frankfurt, identification consists of one’s forming second-order volitions, endorsing first-order desires, and issuing in his actions wholeheartedly. An agent not only wants to φ but also fully embraces his (...) desire to φ (and φ). Frankfurt’s official theory above encounters some serious problems, especially since it is believed that his concept of wholehearted identification is too strong to be necessary for freedom. In this paper, I propose that we can uncouple identification from wholeheartedness and thus get two different senses of identification: weak identification and strong identification. Then, I argue that this distinction does a better job than Frankfurt’s official theory. On the one hand, weak identification is enough for ownership and freedom and thus more promising than strong identification; on the other hand, this distinction has an attractive implication that it fits well with our intuition about the degree of freedom and responsibility. (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)

We expect the laws of nature that describe the universe to be exact, but what if that isn't true? In this popular science article, I discuss the possibility that some candidate fundamental laws of nature, such as the Past Hypothesis, may be vague. This possibility is in conflict with the idea that the fundamental laws of nature can always and faithfully be described by classical mathematics. -/- [Bibliographic note: this article is featured on the magazine website under a different title (...) as "The fuzzy law that could break the idea of a mathematical universe" and on the magazine cover as "The Flaw at the Heart of Reality: Why precise mathematical laws can never fully explain the universe." It is a popular version of the article "Nomic Vagueness" that can be found on arXiv: 2006.05298.]. (shrink)

Despite its apparent complexity, our world seems to be governed by simple laws of physics. This volume provides a philosophical introduction to such laws. I explain how they are connected to some of the central issues in philosophy, such as ontology, possibility, explanation, induction, counterfactuals, time, determinism, and fundamentality. I suggest that laws are fundamental facts that govern the world by constraining its physical possibilities. I examine three hallmarks of laws-simplicity, exactness, and objectivity-and discuss whether and how they may be (...) associated with laws of physics. (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)

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)

Wang Yangming’s discussions concerning evil mainly appear in two sets of texts, i.e., Chuanxilu 传习录 (Instructions for Practical Living) and gongyi 公移 (documents transferred to vertically unrelated departments). The former addresses evil in metaphysical terms, and the latter in social terms. These subtly different approaches show the nuance between self-cultivation and governance of others.

The paper explores the influence of greenwash on green trust and discusses the mediation roles of green consumer confusion and green perceived risk. The research object of this study focuses on Taiwanese consumers who have the purchase experience of information and electronics products in Taiwan. This research employs an empirical study by means of the structural equation modeling. The results show that greenwash is negatively related to green trust. Therefore, this study suggests that companies must reduce their greenwash behaviors to (...) enhance their consumers’ green trust. In addition, this study finds out that green consumer confusion and green perceived risk mediate the negative relationship between greenwash and green trust. The results also demonstrate that greenwash is positively associated with green consumer confusion and green perceived risk which would negatively affect green trust. It means that greenwash does not only negatively affect green trust directly but also negatively influence it via green consumer confusion and green perceived risk indirectly. Hence, if companies would like to reduce the negative relationship between greenwash and green trust, they need to decrease their consumers’ green consumer confusion and green perceived risk. (shrink)

What is the proper metaphysics of quantum mechanics? In this dissertation, I approach the question from three different but related angles. First, I suggest that the quantum state can be understood intrinsically as relations holding among regions in ordinary space-time, from which we can recover the wave function uniquely up to an equivalence class (by representation and uniqueness theorems). The intrinsic account eliminates certain conventional elements (e.g. overall phase) in the representation of the quantum state. It also dispenses with first-order (...) quantification over mathematical objects, which goes some way towards making the quantum world safe for a nominalistic metaphysics suggested in Field (1980, 2016). Second, I argue that the fundamental space of the quantum world is the low-dimensional physical space and not the high-dimensional space isomorphic to the ``configuration space.'' My arguments are based on considerations about dynamics, empirical adequacy, and symmetries of the quantum mechanics. Third, I show that, when we consider quantum mechanics in a time-asymmetric universe (with a large entropy gradient), we obtain new theoretical and conceptual possibilities. In such a model, we can use the low-entropy boundary condition known as the Past Hypothesis (Albert, 2000) to pin down a natural initial quantum state of the universe. However, the universal quantum state is not a pure state but a mixed state, represented by a density matrix that is the normalized projection onto the Past Hypothesis subspace. This particular choice has interesting consequences for Humean supervenience, statistical mechanical probabilities, and theoretical unity. (shrink)

The rapid proliferation of artificial intelligence (AI) technologies has ushered in a new era of opportunities and challenges, prompting nations to grapple with the concept of AI sovereignty. This article delves into the definition and implications of AI sovereignty, drawing parallels to the well-established notion of cyber sovereignty. By exploring the connotations of AI sovereignty, including control over AI development, data sovereignty, economic impacts, national security considerations, and ethical and cultural dimensions, the article provides a comprehensive understanding of this emerging (...) paradigm. The potential controversies surrounding AI sovereignty, such as the tension between national interests and global cooperation, technological protectionism, human rights and privacy issues, and the risk of exacerbating global inequalities, are critically examined. To navigate these complexities and facilitate responsible AI governance, the article proposes a multifaceted international governance framework. Key recommendations include fostering multilateral cooperation and standards-setting, implementing transparency and accountability measures, establishing ethical guidelines and human rights protections, developing mechanisms for technology transfer and capacity building, and instituting robust dispute resolution and enforcement protocols. Ultimately, this article underscores the need for a balanced and collaborative approach to AI governance that aligns technological advancement with ethical integrity and global solidarity. (shrink)

In the contemporary epistemological literature, peer disagreement is often taken to be an instance of a more general phenomenon of “higher-order evidence.” Correspondingly, its epistemic significance is often thought to turn on the epistemic significance of higher-order evidence in general. This chapter attempts to evaluate this claim, and in doing so to clarify some points of unclarity in the current literature – both about what it is for evidence to be “higher-order,” and about the relationship between disagreement and higher-order evidence. (...) We will begin by considering some candidate definitions of “higher-order evidence,” and offering our own definition that attempts to capture the phenomenon of interest. We will then consider, in light of this definition, whether disagreement and its epistemic significance are best-understood as a kind of higher-order evidence. We’ll argue that although peer disagreement can be epistemically significant qua higher-order evidence, this role doesn’t exhaust its significance, and that it can also serve as straightforward first-order evidence. Finally, we’ll suggest that inattention to this latter point has made broadly conciliatory views about peer disagreement seem somewhat easier to resist than they in fact are. (shrink)

In the rapidly evolving landscape of artificial intelligence (AI), disparities in access and benefits are becoming increasingly apparent, leading to the emergence of an AI divide. This divide not only amplifies existing socio-economic inequalities but also fosters the creation of AI caste systems, where marginalized groups—referred to as AI Dalits—are systematically excluded from AI advancements. This article explores the definitions and contributing factors of the AI divide and delves into the concept of AI caste systems, illustrating how they perpetuate inequality. (...) Furthermore, it proposes comprehensive strategies for bridging this divide through inclusive and equitable approaches. Key strategies include promoting equal access to AI education and resources, enhancing diversity and representation in AI development, implementing fair and transparent AI policies, promoting public awareness and engagement, and empowering AI Dalits through targeted initiatives. By championing an "All in AI" and "AI for All" paradigm, this paper envisions an inclusive future where the benefits of AI are universally shared, ensuring that no group is left behind in the AI-driven world. (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)

In this paper, I introduce an intrinsic account of the quantum state. This account contains three desirable features that the standard platonistic account lacks: (1) it does not refer to any abstract mathematical objects such as complex numbers, (2) it is independent of the usual arbitrary conventions in the wave function representation, and (3) it explains why the quantum state has its amplitude and phase degrees of freedom. -/- Consequently, this account extends Hartry Field’s program outlined in Science Without Numbers (...) (1980), responds to David Malament’s long-standing impossibility conjecture (1982), and establishes an important first step towards a genuinely intrinsic and nominalistic account of quantum mechanics. I will also compare the present account to Mark Balaguer’s (1996) nominalization of quantum mechanics and discuss how it might bear on the debate about “wave function realism.” In closing, I will suggest some possible ways to extend this account to accommodate spinorial degrees of freedom and a variable number of particles (e.g. for particle creation and annihilation). -/- Along the way, I axiomatize the quantum phase structure as what I shall call a “periodic difference structure” and prove a representation theorem as well as a uniqueness theorem. These formal results could prove fruitful for further investigation into the metaphysics of phase and theoretical structure. -/- (For a more recent version of this paper, please see "The Intrinsic Structure of Quantum Mechanics" available on PhilPapers.). (shrink)

Philosophers have relied on visual metaphors to analyse ideas and explain their theories at least since Plato. Descartes is famous for his system of axes, and Wittgenstein for his first design of truth table diagrams. Today, visualisation is a form of ‘computer-aided seeing’ information in data. Hence, information is the fundamental ‘currency’ exchanged through a visualisation pipeline. In this article, we examine the types of information that may occur at different stages of a general visualization pipeline. We do so from (...) a quantitative and a qualitative perspective. The quantitative analysis is developed on the basis of Shannon’s information theory. The qualitative analysis is developed on the basis of Floridi’s taxonomy in the philosophy of information. We then discuss in detail how the condition of the ‘data processing inequality’ can be broken in a visualisation pipeline. This theoretic finding underlines the usefulness and importance of visualisation in dealing with the increasing problem of data deluge. We show that the subject of visualisation should be studied using both qualitative and quantitative approaches, preferably in an interdisciplinary synergy between information theory and the philosophy of information. (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)

This article presents a new methodology for pricing and hedging commodity derivatives. A generic model calibration is provided. The calibration procedure consists of an offline step where the mean reversion rates, the ratio of the long and short factor volatilities and the correlation between the long and short factors are determined via historical analysis. This offline step is performed relatively infrequently. There’s also an online step of the calibration which happens every time the model is used to price an option (...) or to simulate price paths. Empirical study shows that the model is quite accurate. (shrink)

The one-side defaultable financial derivatives valuation problems have been studied extensively, but the valuation of bilateral derivatives with asymmetric credit qualities is still lacking convincing mechanism. This paper presents an analytical model for valuing derivatives subject to default by both counterparties. The default-free interest rates are modeled by the Market Models, while the default time is modeled by the reduced-form model as the first jump of a time-inhomogeneous Poisson process. All quantities modeled are market-observable. The closed-form solution gives us a (...) better understanding of the impact of the credit asymmetry on swap value, credit value adjustment, swap rate and swap spread. (shrink)

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