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

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)

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)

The results revealed that students who remained in China experienced challenges which included anxiety, closure of campuses, lockdown, their parents’ concern regarding health issues, and not being able to meet with friends. On the other hand, students who had left China during the pandemic were confined to their home countries. This group of students experienced more severe problems than the students who remained in China. Since the transition to home countries was “unplanned,” they were not ready to readjust to their (...) native culture and were vulnerable to severe reverse culture shock. Upon returning to their home countries, international students faced a number of challenges, including readjustment to their home countries and changes in their lives in host and home countries. In addition, they lost social and academic resources, such as the disruption of study environment, losing important group memberships, financial constraints, visa expiry, graduation delay, and academic suspension. (shrink)

The oil and gas industry is a complex data-driven industry with compute-intensive, data-intensive and business-intensive features. Cloud computing and big data have a broad application prospect in the oil and gas industry. This research aims to highlight the cloud computing and big data issues and challenges from the informatization in oil and gas industry. In this paper, the distributed cloud storage architecture and its applications for seismic data of oil and gas industry are focused on first. Then,cloud desktop for oil (...) and gas industry applications are also introduced in terms of efficiency, security and usability. Finally, big data architecture and security issues of oil and gas industry are analyzed. Cloud computing and big data architectures have advantages in many aspects, such as system scalability, reliability, and serviceability. This paper also provides a brief description for the future development of Cloud computing and big data in oil and gas industry. Cloud computing and big data can provide convenient information sharing and high quality service for oil and gas industry. (shrink)

This sixth volume of Collected Papers includes 74 papers comprising 974 pages on (theoretic and applied) neutrosophics, written between 2015-2021 by the author alone or in collaboration with the following 121 co-authors from 19 countries: Mohamed Abdel-Basset, Abdel Nasser H. Zaied, Abduallah Gamal, Amir Abdullah, Firoz Ahmad, Nadeem Ahmad, Ahmad Yusuf Adhami, Ahmed Aboelfetouh, Ahmed Mostafa Khalil, Shariful Alam, W. Alharbi, Ali Hassan, Mumtaz Ali, Amira S. Ashour, Asmaa Atef, Assia Bakali, Ayoub Bahnasse, A. A. Azzam, Willem K.M. Brauers, Bui (...) Cong Cuong, Fausto Cavallaro, Ahmet Çevik, Robby I. Chandra, Kalaivani Chandran, Victor Chang, Chang Su Kim, Jyotir Moy Chatterjee, Victor Christianto, Chunxin Bo, Mihaela Colhon, Shyamal Dalapati, Arindam Dey, Dunqian Cao, Fahad Alsharari, Faruk Karaaslan, Aleksandra Fedajev, Daniela Gîfu, Hina Gulzar, Haitham A. El-Ghareeb, Masooma Raza Hashmi, Hewayda El-Ghawalby, Hoang Viet Long, Le Hoang Son, F. Nirmala Irudayam, Branislav Ivanov, S. Jafari, Jeong Gon Lee, Milena Jevtić, Sudan Jha, Junhui Kim, Ilanthenral Kandasamy, W.B. Vasantha Kandasamy, Darjan Karabašević, Songül Karabatak, Abdullah Kargın, M. Karthika, Ieva Meidute-Kavaliauskiene, Madad Khan, Majid Khan, Manju Khari, Kifayat Ullah, K. Kishore, Kul Hur, Santanu Kumar Patro, Prem Kumar Singh, Raghvendra Kumar, Tapan Kumar Roy, Malayalan Lathamaheswari, Luu Quoc Dat, T. Madhumathi, Tahir Mahmood, Mladjan Maksimovic, Gunasekaran Manogaran, Nivetha Martin, M. Kasi Mayan, Mai Mohamed, Mohamed Talea, Muhammad Akram, Muhammad Gulistan, Raja Muhammad Hashim, Muhammad Riaz, Muhammad Saeed, Rana Muhammad Zulqarnain, Nada A. Nabeeh, Deivanayagampillai Nagarajan, Xenia Negrea, Nguyen Xuan Thao, Jagan M. Obbineni, Angelo de Oliveira, M. Parimala, Gabrijela Popovic, Ishaani Priyadarshini, Yaser Saber, Mehmet Șahin, Said Broumi, A. A. Salama, M. Saleh, Ganeshsree Selvachandran, Dönüș Șengür, Shio Gai Quek, Songtao Shao, Dragiša Stanujkić, Surapati Pramanik, Swathi Sundari Sundaramoorthy, Mirela Teodorescu, Selçuk Topal, Muhammed Turhan, Alptekin Ulutaș, Luige Vlădăreanu, Victor Vlădăreanu, Ştefan Vlăduţescu, Dan Valeriu Voinea, Volkan Duran, Navneet Yadav, Yanhui Guo, Naveed Yaqoob, Yongquan Zhou, Young Bae Jun, Xiaohong Zhang, Xiao Long Xin, Edmundas Kazimieras Zavadskas. (shrink)

This thirteenth volume of Collected Papers is an eclectic tome of 88 papers in various fields of sciences, such as astronomy, biology, calculus, economics, education and administration, game theory, geometry, graph theory, information fusion, decision making, instantaneous physics, quantum physics, neutrosophic logic and set, non-Euclidean geometry, number theory, paradoxes, philosophy of science, scientific research methods, statistics, and others, structured in 17 chapters (Neutrosophic Theory and Applications; Neutrosophic Algebra; Fuzzy Soft Sets; Neutrosophic Sets; Hypersoft Sets; Neutrosophic Semigroups; Neutrosophic Graphs; Superhypergraphs; Plithogeny; (...) Information Fusion; Statistics; Decision Making; Extenics; Instantaneous Physics; Paradoxism; Mathematica; Miscellanea), comprising 965 pages, published between 2005-2022 in different scientific journals, by the author alone or in collaboration with the following 110 co-authors (alphabetically ordered) from 26 countries: Abduallah Gamal, Sania Afzal, Firoz Ahmad, Muhammad Akram, Sheriful Alam, Ali Hamza, Ali H. M. Al-Obaidi, Madeleine Al-Tahan, Assia Bakali, Atiqe Ur Rahman, Sukanto Bhattacharya, Bilal Hadjadji, Robert N. Boyd, Willem K.M. Brauers, Umit Cali, Youcef Chibani, Victor Christianto, Chunxin Bo, Shyamal Dalapati, Mario Dalcín, Arup Kumar Das, Elham Davneshvar, Bijan Davvaz, Irfan Deli, Muhammet Deveci, Mamouni Dhar, R. Dhavaseelan, Balasubramanian Elavarasan, Sara Farooq, Haipeng Wang, Ugur Halden, Le Hoang Son, Hongnian Yu, Qays Hatem Imran, Mayas Ismail, Saeid Jafari, Jun Ye, Ilanthenral Kandasamy, W.B. Vasantha Kandasamy, Darjan Karabašević, Abdullah Kargın, Vasilios N. Katsikis, Nour Eldeen M. Khalifa, Madad Khan, M. Khoshnevisan, Tapan Kumar Roy, Pinaki Majumdar, Sreepurna Malakar, Masoud Ghods, Minghao Hu, Mingming Chen, Mohamed Abdel-Basset, Mohamed Talea, Mohammad Hamidi, Mohamed Loey, Mihnea Alexandru Moisescu, Muhammad Ihsan, Muhammad Saeed, Muhammad Shabir, Mumtaz Ali, Muzzamal Sitara, Nassim Abbas, Munazza Naz, Giorgio Nordo, Mani Parimala, Ion Pătrașcu, Gabrijela Popović, K. Porselvi, Surapati Pramanik, D. Preethi, Qiang Guo, Riad K. Al-Hamido, Zahra Rostami, Said Broumi, Saima Anis, Muzafer Saračević, Ganeshsree Selvachandran, Selvaraj Ganesan, Shammya Shananda Saha, Marayanagaraj Shanmugapriya, Songtao Shao, Sori Tjandrah Simbolon, Florentin Smarandache, Predrag S. Stanimirović, Dragiša Stanujkić, Raman Sundareswaran, Mehmet Șahin, Ovidiu-Ilie Șandru, Abdulkadir Șengür, Mohamed Talea, Ferhat Taș, Selçuk Topal, Alptekin Ulutaș, Ramalingam Udhayakumar, Yunita Umniyati, J. Vimala, Luige Vlădăreanu, Ştefan Vlăduţescu, Yaman Akbulut, Yanhui Guo, Yong Deng, You He, Young Bae Jun, Wangtao Yuan, Rong Xia, Xiaohong Zhang, Edmundas Kazimieras Zavadskas, Zayen Azzouz Omar, Xiaohong Zhang, Zhirou Ma.‬‬‬‬‬‬‬‬. (shrink)

We provide new findings that add to the growing body of empirical evidence that important epistemic intuitions converge across cultures. Specifically, we selected three recent studies conducted in the US that reported surprising effects of knowledge attribution among English speakers. We translated the vignettes used in those studies into Mandarin Chinese and Korean and then ran the studies with participants in Mainland China, Taiwan, and South Korea. We found that, strikingly, all three of the effects first obtained in the US (...) also emerged in the East Asian cultures we studied. Our findings not only cohere with but also provide—at least moderate—support for the existence of extensive convergences of important epistemic intuitions across cultures. (shrink)

Thomas Pogge’s (2006) framework of global justice can be adapted for individual agents or collective unilateral donations in the same way Peter Singer’s framework has been. I do so by amending Pogge’s institutional principles for international human rights NGOs and by adding two further principles to address challenges that arise when his framework is applied. This adapted framework enjoins donors to make principled philanthropic decisions that prioritize existing and near-term suffering, while also rectifying their part in causing this suffering. It (...) makes Pogge’s negative duty account easier to implement than his previous proposal, and provides well-off individuals with an alternative to Effective Altruism. (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)

E. Husserl’s reflections in Logical Investigations on “intentional feelings” and “non-intentional feelings” are significant in both his later ethical explorations and M. Scheler’s thought on ethics. Through the incorporation of the views of Husserl and Scheler, we find that the phenomenology of the intentional feeling-acts is not only the foundation of the non-formal ethics of values in Scheler’s phenomenology, but also at least the constitutive foundation of the ethics of Husserl’s first orientation.

In Appearance and Explanation, McCain and Moretti propose a novel internalist account of epistemic justification called phenomenal explanationism, which combines phenomenal conservatism and explanationism. I argue that the current version of phenomenal explanationism faces a dilemma: either it omits the awareness requirement but implies an implausible form of logical-mathematical omniscience, or it preserves the requirement but leads to a vicious regress. I suggest how phenomenal explanationism might be revised to avoid this dilemma.

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

John Locke, a prominent liberalist, is widely known for his advocacy of tolerance and democracy, as evident in the Letter Concerning Toleration and Two Treatises of Government. However, in 1967, an unpublished work, Two Tracts on Government, revealed John Locke’s earlier Hobbesian or absolutist views. This paper delves into the historical context of religious conditions in England and Oxford during Locke's time and the influence of his trip to Kleve, Germany, on his ideological transformation. Furthermore, this study challenges the perspectives (...) of scholars (Peter Laslett and Mark Goldie) who attribute Locke's shift primarily or solely to his association with Lord Ashley, drawing on evidence from Locke's letter to Boyle. In summary, this paper underscores the significance of the religious environment (1660-1667, under the reign of Charles II) and how Locke's firsthand experiences shaped his transition from absolutism to liberalism while reconciling and refining the perspectives of other scholars in the process. (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)

In “Normativity and Epistemic Intuitions”, Weinberg, Nichols and Stich famously argue from empirical data that East Asians and Westerners have different intuitions about Gettier -style cases. We attempted to replicate their study about the Car case, but failed to detect a cross - cultural difference. Our study used the same methods and case taken verbatim, but sampled an East Asian population 2.5 times greater than NEI’s 23 participants. We found no evidence supporting the existence of cross - cultural difference about (...) the intuition concerning the Gettier car case. Taken together with the failures of both of the existing replication studies, our results provide strong evidence that the purported cross - cultural difference in Gettier intuitions does not exist. (shrink)

Weber's 'science as a vocation' has often been viewed as a therapeutic concept with no functional significance in the fully bureaucratized and professionalized modern science. However, development in the philosophy of science in the last century, especially the Kuhn thesis of the discontinuity of scientific progress and the Duhem-Quine thesis of underdetermination, shows that Weber's distinction between science as a vocation and science as a profession (career) can potentially answer one of the oldest questions in science studies: What makes scientific (...) breakthroughs possible? (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 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)

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 author argues that consciousness and its meaning may only be defined and explained within an ontological system. Such a system is proposed in this article, with matter, energy, and life as its components, and with all its components defined as changes. The systematic relations between matter and energy and the semantic relations among all its components together may define and explain what and how consciousness is, why there is consciousness, where and when it may occur, and what is its (...) significance or meaning. (shrink)

Les questions les plus fondamentales de la phénoménologie du sentir de Max Scheler concernent la place de l’intentionnalité dans la phénoménologie du sentir et la structuration de la sphère émotionnelle. Dans la première section, nous nous focaliserons avant tout sur la différence entre les sentiments non intentionnels et le sentir intentionnel, en comparant sur ce point les positions de Scheler et de Husserl. En effet, Scheler critique ces deux thèses fondamentales de Husserl: 1) les actes affectifs et leurs corrélats (« (...) valeurs ») doivent être associés aux représentations et à leurs corrélats (« choses », Sachen ); 2) les actes affectifs, en tant qu’actes non objectivants, sont fondés dans les actes objectivants. D’une part, pour Scheler, la valeur est un objet unique en son genre du sentir des valeurs, et le sentir intentionnel est donc un acte indépendant. D’autre part, Scheler a d’abord entrepris de dépasser la séparation entre acte objectivant et acte non objectivant. Dans ce contexte, la recherche actuelle consacrée à Scheler se heurte à de nombreuses difficultés relatives à la structuration de la sphère émotionnelle en rapport avec la hiérarchie des modalités axiologiques et avec l’a priori corrélationnel. Dans la deuxième section, nous expliquerons d’abord les idées de Scheler, puis en discuterons les difficultés. C’est par le « commerce vivant » avec le monde dans le sentir intentionnel et dans les actes émotionnels intentionnels, par les corrélats intentionnels (valeurs matérielles), que Scheler se sépare du formalisme en éthique. A travers un « apriorisme matériel » qui présente trois espèce d’a priori (a priori axiologique, a priori émotionnel et a priori corrélationnel), l’éthique matérielle phénoménologique des valeurs de Sche­ler est guidée par l’esprit d’un « objectivisme et absolutisme éthique rigoureux ». (shrink)

Davidson’s theory of agency aims to solve the dilemma that the same action can be both intentional and not intentional. He explains primitive actions using primarily bodily movements and argues that event-causality can be described through the “accordion effect”, but not agent-causality. And Davidson uses reasons as causes to explain the actions and responds to five objections. In this paper, I critique Davidson’s argument, pointing out that he ignores certain factors in the belief-desire model, such as emotions. And his sentence (...) holism has a problem because individual words that express complete thoughts can explain actions in language games. As a result, Davidson’s criticism of Wittgenstein is not reasonable. (shrink)

Plato's view on time, a key aspect of his doctrine of forms, is influenced by his reception of Parmenides, but the way in which Plato takes up and modifies Parmenides' view is a matter of ongoing scholarly debate. In this article, the author analyzes Plato's revision of Parmenidean time by exploring four temporalities: the eternal present, timeless eternity, the enduring present, and the instant between time and eternity. Through this examination, she uncovers the common origin of both the eternal present (...) of Parmenides' fragment B8 and the flowing present of the phenomenal realm in the instant (ἐξαίφνης) in Plato's Parmenides. This perspective on time offers a promising solution to Plato's problem of participation, bridging the gap between the eternal being of the form and the being in time of the particulars. (shrink)

Based on the dispute between Protagoras and Socrates on the origin of ethics, one can ask the question of whether the principle of ethics is reason orfeeling/emotion, or whether ethics is grounded on reason or feeling/emotion. The development of Kant’s thoughts on ethics shows the tension between reason and feeling/emotion. In Kant’s final critical ethics, he held to a principle of “rational a priori.” On the one hand, this is presented as the rational a priori principle being the binding principle (...) of judgment. On the other hand, it is presented as the doctrine of “rational fact” as the ultimate argument of his ethics. Husserl believed that Kant’s doctrine of a rational a priori totally disregarded the a priori essential laws of feeling. Like Husserl, Scheler criticized Kant’s doctrine of a rational a priori, and therefore developed his own theory of an “emotional a priori”. Both of them focused their critiques on the grounding level of ethics. Scheler, however, did not follow Husserl all the way, but criticized him and reflected on his thoughts. At last, he revealed the primary status of a phenomenological material ethics of value. (shrink)

Duncan Pritchard recently proposed a Wittgensteinian solution to closure-based skepticism. According to Wittgenstein, all epistemic systems assume certain truths. The notions that we are not disembodied brains, that the Earth has existed for a long time and that one’s name is such-and-such all function as “hinge commitments.” Pritchard views a hinge commitment as a positive propositional attitude that is not a belief. Because closure principles concern only knowledge-apt beliefs, they do not apply to hinge commitments. Thus, from the fact that (...) a subject knows that he is sitting in a room, and the fact that the subject’s sitting in a room entails his bodily existence, it does not follow that the subject also knows that he is not an envatted brain. This paper rejects Pritchard’s non-belief reading of hinge commitments. I start by showing that the non-belief reading fails to solve the skeptical paradox because the reasons that Pritchard uses to support the non-belief reading do not exempt hinge propositions from closure principles. I then proceed to argue that the non-belief reading is false as it claims that hinge commitments, unlike ordinary beliefs, are rationally unresponsive—with the help of a scenario in which a subject’s experience is internally chaotic, we can safely conclude that the hinge commitment that one is not systematically mistaken about the world is equally responsive to one’s evidential situations. (shrink)

The Evaluative Judgment Theories of Emotion mainly suggest that emotions can be reduced to evaluative beliefs or judgments. Specifically, evaluative beliefs are necessary but not sufficient conditions for evaluative judgments. And reducing emotions to evaluative judgments requires the subject’s conceptualizing ability. However, the Evaluative Judgment Theories of Emotion has many problems, including that evaluative beliefs are neither sufficient nor necessary for emotions; the evaluative judgment theory of emotion presupposes the subject’s conceptual content, but conceptual content is not a necessary and (...) sufficient condition for emotions; the requirement of conceptualization ability for evaluative judgments is too high, which makes emotions overintellectualize; and the add-on strategy of emotions cannot save the evaluative judgment theory of emotions as well. (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)

Critical realism, championed by its proponents as the most promising post-positivist social science paradigm, has gained significant influence in the last few decades. This paper provides a critical evaluation of the critical realism movement in the hope of facilitating more fruitful dialogues between its proponents and rivalling schools of sociologists. Two concerns are raised about contemporary critical realism. First, critical realism is not the only philosophical school against positivism and not necessarily the best. Second, critical realists exaggerate the importance of (...) critical realism to social science and conflate philosophy of science with sociological theories. (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)

On the one hand, Scheler's critique of Kant's concept of a priori benefits from Husserl to a large extent, and it complements and deepens Husserl's. On the other hand, Scheler also critiques Husserl's definition of a priori. Husserl's material a priori as ideal object primarily thanks to his so-called "Bolzano- turn". In this connection, Scheler grabs hold of the relation of Husserl to Bolzano from the very beginning. For Scheler, Husserl thinks in a "platonic" way, and still falls in a (...) new type of "Platonism", or rather, logical Platonism, although he correctly refuses the ordinary Platonism. In Scheler's view, Husserl's phenomenological reduction is "not purely" executed, and therefore his phenomenological experience is problematic, or more precisely, the relation between categorial intuition and sensuous intuition is problematic. The final aim of Scheler's critique of Husserl's phenomenological understanding of "objective a priori" is to win the primary position of categorial intuition and its content , ethical insight and its correlate , and ultimately of phenomenological ethics of material value.Einerseits nimmt Schelers Kritik an Kant bezüglich des Begriffs des Apriori die Einsichten Husserls in großem Umfang auf. Schelers Kritik an Kant ergänzt und vertieft die Husserlsche Kant-Kritik. Andererseits kritisiert er aber auch Husserls Bestimmung des Apriori. Vor allem verdankt sich das materiale Apriori als idealer Gegenstand bei Husserl der sogenannten “Bolzano’schen Wendung”. Von Anfang an kritisiert Scheler Husserl in diesem Punkt, indem er dem Verhältnis zwischen Bolzano und Husserl immer präziser nachging. Für Scheler unterliegt Husserl mit Recht keinem platten Platonismus. Aber dennoch verfahre Husserl immerhin “platonistisch”, er unterliege einem “Neoplatonismus”, bzw. einem logischen Platonismus. Weil die phänomenologische Reduktion bei Husserl nach Schelers Meinung “nicht reinlich” durchgeführt wird, ist die phänomenologische Erfahrung bei Husserl problematisch, genauer gesagt ist das Verhältnis zwischen der kategorialen Anschauung und der sinnlichen Anschauung problematisch. Der Endzweck von Schelers Kritik an der phänomenologischen Auffassung des gegenständlichen Apriori bei Husserl besteht darin, die primäre Stelle der kategorialen Anschauung und ihrer Gehalte , sowie der sittlichen Einsicht und ihrer Korrelate und zuletzt der phänomenologisch materialen Wertethik zu gewinnen.S jedne strane, Schelerova kritika Kantova pojma a priori u velikoj mjeri duguje Husserlu, te dopunjuje i produbljuje Husserlovu. S druge strane, Scheler kritizira i Husserlovu definiciju apriorija. Husserlov materijalni a priori kao idealni predmet prvenstveno proizlazi iz njegova takozvanog bolzanovskog obrata. Prema Scheleru, Husserl razmišlja na "platonski" način te upada u novi tip "platonizma" ili, točnije, logičkog platonizma, iako s pravom odbacuje obični platonizam. Scheler smatra da Husserlova fenomenološka redukcija nije izvedena "čisto" te da je stoga njegovo fenomenološko iskustvo proble- matično ili, točnije, problematičan je odnos između kategorijalnog zora i osjetilnog zora. Krajnji cilj Schelerove kritike Husserlova fenomenološkog shvaćanja "objektivnog a priori" jest zadobivanje primarne pozicije kategorijalnog zora i njegova sadržaja , etičkog uvida i njegova korelata te, na koncu, fenomenološke etike materijalne vrijednosti. (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)

Valuing something is complicated. Philosophers have offered different stories about what we do when we value something. However, we have not paid enough attention to the thought that, sometimes, valuing something is what makes us the kind of practical agents we are. In this paper, I offer a novel account of valuing, which I call thick valuing, to capture this special phenomenon in which our valuing makes us who we are. This requires us to recognize that the cognitive, motivational, and (...) affective components of thick valuing do not merely co-occur. More importantly, it is key to focusing on how thickly valuing something partially constitutes, and indeed crucially expresses, our practical identities. Beyond that, the account sheds new light on how we can better understand inauthenticity—to act without authenticity is to act from what one thickly values but where that which one thickly values are not values of one’s own. (shrink)

Truth pluralism is the view that there is more than one truth property. The strong version of it (i.e. strong pluralism) further contends that no truth property is shared by all true propositions. In this paper, I help strong pluralism solve two pressing problems concerning mixed discourse: the problem of mixed inferences (PI) and the problem of mixed compounds (PC). According to PI, strong pluralism is incompatible with the truth- preservation notion of validity; according to PC, strong pluralists cannot find (...) any appropriate truth property for mixed compound propositions, whose atomic constituents are from different domains of discourse (e.g., <sky is blue and chocolate is tasty>). I argue that the strong pluralist is motivated to take the truth predicate in truth-involving universal statements to be deflationary to avoid the two pressing problems. Such a move entails that the truth predicate in the platitude of validity (V) for any argument, it is valid if and only if necessarily its conclusion is true when its premises are all true does not denote any substantive truth property. Instead, it is merely an expressive device to help people generalize instances of (V) to (V). Analogous stories hold for the truth predicate in the platitudes of compound (e.g., conjunction). The upshot is that, the strong pluralist can solve PI and PC by further conceding that mixed compounds are true/false in a deflationary way. (shrink)

Practical knowledge is discussed in close relation to practical expertise. For both anti-intellectualists and intellectualists, the knowledge of how to φ is widely assumed to entail the practical expertise in φ-ing. This paper refutes this assumption. I argue that non-experts can know how to φ via other experts’ knowledge of φ-ing. Know-how can be ‘outsourced’. I defend the outsourceability of know-how, and I refute the objections that reduce outsourced know-how to the knowledge of how to ask for help, of how (...) to get things done, or of external contents. Interestingly, outsourcing differs from social cooperation, collective agency, testimonial transmission, and many other notions in social-epistemological debates. Thus, outsourcing provides not only a hitherto unconsidered form of know-how but also a novel way for knowledge to be social. Furthermore, outsourcing plausibly involves a ‘social’ cognitive extension that does not rest on EMT or HEC. Given the outsourceability of know-how, we must reconsider the nature of know-how and expertise, as well as the relation between non-experts and experts. (shrink)

Meritocracy claims to reward the meritorious with more resources, thereby achieving social efficiency and justice in a level playground. This article argues that the rise of meritocracy in a society is the institutional consequence of adopting progressive humanism, an ideal-type worldview that advocates the harmonious co-realization of individual achievement and social contribution. However, meritocracy is a self-defeating illusion because, even in a level playground, it only rewards conspicuous and wasteful display of ‘merit’ rather than genuine contributions to society. Similar to (...) the promise of an afterlife to Catholicism, the illusion of meritocracy constitutes an indispensable theodicy to progressive humanism. For societies holding such worldviews, meritocracy is a necessary illusion that cannot be dispelled by institutional reforms or political movements. (shrink)

Deep self views of moral responsibility suggest that an agent fully satisfies the freedom condition for responsibility if and only if her actions or omissions issue from, and so express, her deep self. This analysis generates both false negatives and false positives regarding people's responsibility, and counterexamples proliferate. I defend a novel version of the deep self view by offering a necessary condition for accountability while retaining the core of deep self views. Indeed, an agent may be blameworthy for her (...) wrongdoing without it issuing from, and so expressing, her deep self. And yet, I argue that she must have a deep self for which she is responsible. This is achieved by paying closer attention to history than standard views have. Focusing on history then reveals a less discussed problem for standard views: the ahistorical features of them make them less equipped to explain cases of blameworthiness that is undermined. (shrink)

The Cartesian thesis that some justifications are infallible faces a gradation puzzle. On the one hand, infallible justification tolerates absolutely no possibility for error. On the other hand, infallible justifications can vary in evidential force: e.g. two persons can both be infallible regarding their pains while the one with stronger pain is nevertheless more justified. However, if a type of justification is gradable in strength, why can it always be absolute? This paper explores the potential of this gradation challenge by (...) rejecting Fumerton's recent ‘semantic decision' solution. On Fumerton's suggestion, the putative gradation of infallible justifications is essentially semantic. It concerns only how we use the relevant term but not how well we perceive the truth. Regardless of its intuitive appeal, Fumerton's solution does not cover all the related situations. There is an irreducibly epistemic sense in which infallible justifications vary in degrees. (shrink)

This article presents a theodicy based on a revision of the popular concept of God’s benevolence. If we follow the Protestant tradition by assuming that God is the exclusive source of virtue, the benevolence of God has to be radically different from the benevolence of a human being. A benevolent and almighty God who wishes to reward virtue and punish evil would design the world order similar to that in the allegory of the long spoons. Divine punishment is unforgiving, merciless, (...) individually non-retributive, holistically retributive, and quantitatively unpredictable. All sufferings are divine punishment. Several popular arguments from evil, including animal suffering, victims of evil deeds, natural disasters, and children’s diseases, can be resolved within this framework. (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 paper presents an analytical model for valuing interest rate swaps, subject to bilateral counterparty credit risk. The counterparty defaults are modeled by the reduced-form model as the first jump of a time-inhomogeneous Poisson process. All quantities modeled are market-observable. The closed-form solution gives us a better understanding of the impact of the credit asymmetry on swap value, credit value adjustment, swap rate and swap spread.

This article presents a generic model for pricing financial derivatives subject to counterparty credit risk. Both unilateral and bilateral types of credit risks are considered. Our study shows that credit risk should be modeled as American style options in most cases, which require a backward induction valuation. To correct a common mistake in the literature, we emphasize that the market value of a defaultable derivative is actually a risky value rather than a risk-free value. Credit value adjustment (CVA) is also (...) elaborated. A practical framework is developed for pricing defaultable derivatives and calculating their CVAs at a portfolio level. (shrink)

According to Donald Davidson, an akratic action is opposed to the agent’s better judgment if the agent act freely and intentionally. Davidson says akratic actions are possible and all akratic actions are irrational. However, although akratic actions are possible, akratic actions could be rational. The reasons are that some of these actions are rational; these rational akratic actions are caused by some emotions sometimes, while some emotions cannot make akratic actions rational, including excessive negative emotions, recalcitrant emotions, etc. Therefore, it (...) is reasonable to explain akratic actions caused by these emotions and these emotions not play a rational role in akratic actions. (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)

Kripke distinguishes necessity and priority as two different categories: priority is a notion of epistemology, while necessity is a notion of metaphysics. Based on this fundamental argument, Kripke objects to Descriptivism, which takes certain properties as the criteria of identity across all possible worlds, and he argues for the legitimacy of a posteriori necessary truths. Kripke also criticizes Russell’s methods for dealing with empty descriptions, and he puts forward a modal world to explain the rigidity of proper names. However, the (...) concept of rigid designation faces some challenges, including Kripke admitting to weak essentialism when he rejects transworld identification, and the fact that the truth value of a sentence containing a rigid designator may change. (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)