The article presents an analysis of global trends in setting the inflation target and the acceptable corridor of inflation target fluctuations. Inflation targeting is an important attribute of the monetary regime of inflation targeting, its main quantitative parameter. The tendency of the inflation targeting regime in 70 countries all over the world are considered, of which 41 countries have official recognition by the International Monetary Fund (IMF) regarding the inflation targeting regime. It was found that most countries set (...) the inflation target at 5% or below, and the level of the corridor of fluctuations in relative terms hovers around 20-50% of the target value. The latest trends related to changes in the monetary policy of the European Central Bank have been studied, recommendations for determining the acceptable corridor of fluctuations of the inflation target in small and open economies on the example of Ukraine are provided. (shrink)

The article provides a critical assessment of The Central Bank of the Russian Federation policy in response to the sanctions of the US, the EU, the UK, Switzerland, Japan, South Korea and a number of other countries. The effect of sanctions on the Russian economy and its financial market is viewed through the prism of credit, interest rate, and currency risk, and the risk of a decline in business activity. Special attention is paid to the inflationary component and inflationary expectations (...) of the Russian Federation, as well as to the forecasts for a decline in business activity in Russia. A critical assessment is given to the actions of the Central Bank of the Russian Federation and the economic bloc of the government of the Russian Federation as a whole in response to the sanctions of the civilized world, which disable the normal existence of the economy and the main purpose of which is not to destroy the economy of the Russian Federation but to ensure the end of hostilities on the European continent. The results of our study will be useful to everyone who studies the problems of the effect of economic sanctions on the resource-based economy and the processes of stimulating political decisions by economic methods. (shrink)

In this study, we examine the own- and cross-effects of the return and volatility spillover between the equity markets of Vietnam and the two ASEAN countries, namely, Singapore and Thailand using monthly stock returns. In attempt to explore the level and magnitude of the spillover effects of the other markets on the Vietnamese stock market, we apply the multivariate generalized autoregressive conditional heteroskedasticity (MGARCH) framework. By utilizing the time-varying conditional volatility and conditional correlations between the stock markets which are resulted (...) from estimation of the GARCH-BEKK model, the study also further shed light on the issues of portfolio diversification. In general, the study found the weak return linkages among the markets. Specifically, the study found no return linkages between Vietnam and Thailand and the unidirectional relationship between Vietnam and Singapore. However, the volatility linkages are highly significant for the three stock markets. It is found that the shock transmission relationship between emerging markets (i.e. Vietnam, Thailand) and developed market (i.e. Singapore) is unidirectional in direction to the emerging markets and the volatility transmission relationships between those are bidirectional. Besides, the variation in Vietnamese stock volatility is found to be more strongly influenced by the past own-shock effects than the past cross-shock effects. This indicates the low level of financial integration of Vietnam into the regional markets and implies the potential rooms for the international portfolio diversification gains. The findings on the return and volatility linkages have several important implications for both investors and policy makers. Firstly, because of the low correlations between the stock markets found, the investors can earn the gains from the portfolio diversification in the three markets. Secondly, the Vietnamese policy makers should be concerned with the harmful volatility spillover originating in the Thailand market that can affect the stability of the stock market. Thirdly, the implication is related to the monetary policy. The finding that the own shock transmissions have the strongest impact on the Vietnamese market’s volatility suggest that the policy makers should pay more attention to the domestic shocks so that the adequate and timely policy can be made. (shrink)

This short article represents the first attempt to define a new core cultural value that will enable engaging the business sector in humankind’s mission to heal nature. First, I start with defining the problem of the current business culture and the extant thinking on how to solve environmental problems, which I called “the eco-deficit culture.” Then, I present a solution to this problem by formulating the “semiconducting principle” of monetary and environmental values exchange, which I believe can generate “an (...) eco-surplus business culture.” This work adds one new element, the eleventh cultural value, to the ten core values of progressive cultures postulated by Harrison (2000). (shrink)

The Neo-Moorean Deduction (I have a hand, so I am not a brain-in-a-vat) and the Zebra Deduction (the creature is a zebra, so isn’t a cleverly disguised mule) are notorious. Crispin Wright, Martin Davies, Fred Dretske, and Brian McLaughlin, among others, argue that these deductions are instances of transmission failure. That is, they argue that these deductions cannot transmit justification to their conclusions. I contend, however, that the notoriety of these deductions is undeserved. My strategy is to clarify, attack, (...) defend, and apply. I clarify what transmission and transmission failure really are, thereby exposing two questionable but quotidian assumptions. I attack existing views of transmission failure, especially those of Crispin Wright. I defend a permissive view of transmission failure, one which holds that deductions of a certain kind fail to transmit only because of premise circularity. Finally, I apply this account to the Neo-Moorean and Zebra Deductions and show that, given my permissive view, these deductions transmit in an intuitively acceptable way—at least if either a certain type of circularity is benign or a certain view of perceptual justification is false. (shrink)

I set out the standard view about alleged examples of failure of transmission of warrant, respond to two cases for the view, and argue that the view is false. The first argument for the view neglects the distinction between believing a proposition on the basis of a justification and merely having a justification to believe a proposition. The second argument for the view neglects the position that one's justification for believing a conclusion can be one's premise for the conclusion, (...) rather than simply one's justification for the premise. Finally, the view is false since it is inconsistent with the closure of knowledge as closure is properly understood. (shrink)

We address the most fundamental yet routinely ignored issue in economics today: that of distributive impact of the monetary system on the real economy. By re-examining the logical implications of token re-presentation of value and Irving Fisher’s theory of exchange, we argue that producers of value incur incidental expropriation of wealth associated with the deflationary effect that new value supply has on the purchasing power of money. In order to remedy the alleged inequity we propose a value-added negative tax (...) (VANT) based on net individual contribution to the economic output, which is structured as a negative tax function geared to profits derived from eligible productive activities in consideration of their estimated deflationary impact. We show that an adequately optimised VANT can be non-inflationary and have zero net cost to the public. Furthermore, economic output stands to improve due to direct incentivisation of value creation, making the proposed scheme not only politically feasible but economically desirable. The proposal advances the principle of ‘fair money’, where all forms of economic value are attributed to their rightful owners prior to any positive taxation. (shrink)

Cumulative cultural knowledge [CCK], the knowledge we acquire via social learning and has been refined by previous generations, is of central importance to our species’ flourishing. Considering its importance, we should expect that our best epistemological theories can account for how this happens. Perhaps surprisingly, CCK and how we acquire it via cultural learning has only received little attention from social epistemologists. Here, I focus on how we should epistemically evaluate how agents acquire CCK. After sampling some reasons why extant (...) theories cannot account for CCK, I suggest that things aren’t as bleak as they might look. I explain how agents deserve epistemic credit for how CCK is transmitted in cultural learning by promoting a central need of their social group: The efficient and safe transmission of CCK. A good initial fit exists between this observation and Greco’s knowledge-economy framework. Ultimately, however, Greco’s account doesn’t straightforwardly account for CCK because of its strict focus on testimony. I point out two issues in the framework due to this focus. The resulting view advocates giving epistemic credit to agents when they act to promote their communities’ epistemic needs in the right way and highlights the various ways in which agents come to do this. (shrink)

Deontological internalism is the family of views where justification is a positive deontological appraisal of someone's epistemic agency: S is justified, that is, when S is blameless, praiseworthy, or responsible in believing that p. Brian Weatherson discusses very briefly how a plausible principle of ampliative transmission reveals a worry for versions of deontological internalism formulated in terms of epistemic blame. Weatherson denies, however, that similar principles reveal similar worries for other versions. I disagree. In this article, I argue that (...) plausible principles of ampliative transmission reveal a worry for deontological internalism in general. (shrink)

The physical properties of money can better be formulated via the methodical tool of quantum monetary science or monetary quantum theory; this research abstract compiles the key findings.

This article provides a discussion of the principle of transmission of evidential support across entailment from the perspective of belief revision theory in the AGM tradition. After outlining and briefly defending a small number of basic principles of belief change, which include a number of belief contraction analogues of the Darwiche-Pearl postulates for iterated revision, a proposal is then made concerning the connection between evidential beliefs and belief change policies in rational agents. This proposal is found to be suffcient (...) to establish the truth of a much-discussed intuition regarding transmission failure. (shrink)

Modern Monetary Theory and Distributive Justice shows how the macroeconomic framework called modern money theory (MMT) is relevant to the field of political philosophy called distributive justice. Many of the macroeconomic assumptions of distributive justice are unstated and unexamined. The framework of MMT illuminates these assumptions and provides an alternative vision of distributive justice analysis and prescriptions. In particular, MMT holds that modern money is a nominal state issued token (fiat), there is a distinction between nominal assets and real (...) assets, that state money as a nominal token can cause changes in real terms, and that the macroeconomy has historically not operated at capacity. The upshot of these assumptions held by MMT is that state spending can bring about changes in persons’ well-being without traditional redistributive measures via taxation. This is in contradistinction to standard assumptions in the distributive justice literature, which holds that the macroeconomy is at capacity and, thus, redistribution is the necessary mechanism for enacting improvements in well-being. This is a fundamental shift in how distributive justice can be conceived. (shrink)

In this paper I draw attention to a peculiar epistemic feature exhibited by certain deductively valid inferences. Certain deductively valid inferences are unable to enhance the reliability of one's belief that the conclusion is true—in a sense that will be fully explained. As I shall show, this feature is demonstrably present in certain philosophically significant inferences—such as GE Moore's notorious 'proof' of the existence of the external world. I suggest that this peculiar epistemic feature might be correlated with the much (...) discussed phenomenon that Crispin Wright and Martin Davies have called 'transmission failure'—the apparent failure, on the part of some deductively valid inferences to transmit one's justification for believing the premises. (shrink)

There are two dominant approaches towards understanding medieval Muslim philosophy: Greek ancestry approach and religiopolitical context approach. In the Greek ancestry approach, medieval Muslim philosophy is interpreted in terms of its relation to classical Greek philosophy, particularly to the philosophy of Plato and Aristotle. The religiopolitical context approach, however, views a thorough understanding of the religious and political situation of that time as the key to the proper understanding of medieval Muslim philosophy. Notwithstanding the immense significance of the two approaches (...) for understanding medieval Muslim philosophy, the question on the reason behind medieval Muslim philosophers’ preference for Plato’s Republic over Aristotle’s Politics in political philosophy is not accurately answered. This preference is usually attributed either to the availability or unavailability of the text or to the suitability or unsuitability of the text for Islamic theological views. However, this article shows that neither the availability or unavailability of text nor its suitability or unsuitability for Islamic religious and theological views can appropriately explain medieval Muslim philosophers’ preference for Plato’s Republic over Aristotle’s Politics in their political thought. This article proposes that the key to understand this preference lies in understanding the transmission of Greek philosophy to medieval Muslim philosophers. Contribution: This study highlights the significance of the thorough understanding of the transmission of Greek philosophy to medieval Muslim world as one of the important approaches towards proper understanding of medieval Muslim philosophy, particularly medieval Muslim political philosophy. (shrink)

The Ukrainian PFTS stock index volatility reaction as a whole and its constituent economic sectors (“Basic Materials”, “Financials”, “Industrials”, “Oil & Gas”, “Telecommunications”, “Utilities”) to seven non-monetary US information signals (“Consumer price index”, “Personal spending”, “Unemployment rate”, “Gross domestic product”, “Industrial production”, “Consumer confidence”, “Housing starts”) was carried out for the period 2000–2017 on the basis of closing stock quotations in the trading day format. To assess the “surprise” component direct influence nature of the USA selected non-monetary information (...) signals on the PFTS stock index, an AR-GARCH econometric modelling device was used. The results achieved clearly indicate the presence of some PFTS stock index economic sectors heterogeneous reaction to the United States individual non-monetary information signals announcement. For example, such economic sectors as “Basic Materials”, “Financials”, and “Oil & Gas” volatility response to the US non-monetary information signal “Consumer price index” “surprise” components the opposite of the overall PFTS stock index reaction. It can also be concluded that the United States non-monetary information signals influence on the Ukrainian stock market volatility depends not only on the financial cycle phase and data frequency, but also on the PFTS stock index economic sector. (shrink)

Whenever debt is itself money, this money becomes a self-inflating debt principal by already being its own interest. Hence modern inflation, deflation, and eventual monetary crises. Yet why does money become debt? The concept of representational monetary identity answers to precisely this question.

The stronger the level of economic integration between countries, the greater the need to study the formation patterns of the stock market reaction to the financial information signals. This concerns the Ukrainian stock market, which is now in its infancy, and which reaction to financial information signals is sometimes ambiguous. The research aims to identify the formation patterns of return and volatility indicators of the Ukrainian stock market reaction to the US financial information signals. To assess the direct nature of (...) US financial information signals effect on the PFTS stock index, the GARCH econometric modeling toolkit was applied. The research information base is the PFTS stock index and the Federal Reserve System financial information signals at the discount rate for 2000–2019. The fetch is divided into intervals corresponded to the ascent and decline phases of the financial cycle. It was found that an unforeseen increase in the discount rate at the financial cycle decline phase by 25 basis points decreases the PFTS stock index return, on average by 2.9%. Besides, the hypothesis about the general change stabilizing effect in the discount rate on the Ukrainian stock market volatility at the financial cycle growth phase was confirmed. Nevertheless, for investors, the most essential is the regulator’s monetary signals in the discount rate at the financial cycle decline phases rather than at the ascent phases because there is a more significant increase in the volatility level. (shrink)

Almost everyone believes that testimony can transmit knowledge from speaker to hearer. What some philosophers mean by this is ordinary and pedestrian-- they mean only that, in at least some cases, a speaker S knows that p, S testifies that p to a hearer H, and H comes to know that p as a result of believing S's testimony. There is disagreement about how this occurs, but that it does occur is sufficient for the transmission of knowledge in the (...) intended sense. On this understanding of transmission, the natural questions are these: (1) What conditions, in addition to speaker knowledge and speaker testimony, are sufficient for the hearer to gain testimonial knowledge?; and (2) Is speaker knowledge always necessary for testimonial knowledge? That is: Is all testimonial knowledge transmitted knowledge? (shrink)

In my 1991 paper, AAnti-Individualism and Privileged Access,@ I argued that externalism in the philosophy of mind is incompatible with the thesis that we have privileged , nonempirical access to the contents of our own thoughts.¹ One of the most interesting responses to my argument has been that of Martin Davies (1998, 2000, and Chapter _ above) and Crispin Wright (2000 and Chapter _ above), who describe several types of cases to show that warrant for a premise does not always (...) transmit to a known deductive consequence of that premise, and who contend that this fact under-mines my argument for incompatibilism. I will try to show here that the Davies/Wright point about transmission of warrant does not adversely affect my argument. (shrink)

Sanford Goldberg argues for Content Externalism by drawing our attention to the extent to which an individual’s concepts depend on the concepts of others. More specifically, he focuses on cases that involve knowledge transmission between experts and non-experts to make his point. In this paper, I argue that the content internalist cannot only plausibly respond to his argument but that Content Internalism offers a more plausible account of intentional content with regard to knowledge transmission than does Content Externalism.

Transmission views of testimony hold that a speaker's knowledge or justification can become the audience's knowledge or justification. We argue that transmission views are incompatible with the hypothesis that one's epistemic state, together with one's practical circumstances, determines what actions are rationally permissible for an agent. We argue that there are cases where, if the speaker's epistemic state were transmitted to the audience, then the audience would be warranted in acting in particular ways. Yet, the audience in these (...) cases is not so warranted, as their strength of justification does not come close to the speaker's. (shrink)

Even if our justified beliefs are closed under known entailment, there may still be instances of transmission failure. Transmission failure occurs when P entails Q, but a subject cannot acquire a justified belief that Q by deducing it from P. Paradigm cases of transmission failure involve inferences from mundane beliefs (e.g., that the wall in front of you is red) to the denials of skeptical hypotheses relative to those beliefs (e.g., that the wall in front of you (...) is not white and lit by red lights). According to the Bayesian explanation, transmission failure occurs when (i) the subject’s belief that P is based on E, and (ii) P(Q|E) P(Q). No modifications of the Bayesian explanation are capable of accommodating such cases, so the explanation must be rejected as inadequate. Alternative explanations employing simple subjunctive conditionals are fully capable of capturing all of the paradigm cases, as well as those missed by the Bayesian explanation. (shrink)

This paper focuses on the phenomenology of symbolic transmissions.

The nature of sustainable monetary agency is explained in short formulae.

Optimization algorithms such as Genetic Algorithms (GA) and Particle Swarm Optimization (PSO) are employed to determine the optimal aggregation and transmission schedules, taking into account factors such as network topology, node energy levels, and data urgency. The proposed approach is validated through extensive simulations, demonstrating significant improvements in energy consumption, packet delivery ratio, and overall network performance. The results suggest that the optimized aggregated packet transmission method can effectively extend the lifespan of duty-cycled WSNs while ensuring reliable data (...) communication. Future work will explore the integration of machine learning techniques for adaptive scheduling and the application of the proposed method to heterogeneous WSNs. (shrink)

Wireless Sensor Networks (WSNs) have become increasingly prevalent in various applications, ranging from environmental monitoring to smart cities. However, the limited energy resources of sensor nodes pose significant challenges in maintaining network longevity and data transmission efficiency. Duty-cycled WSNs, where sensor nodes alternate between active and sleep states to conserve energy, offer a solution to these challenges but introduce new complexities in data transmission. This paper presents an optimized approach to aggregated packet transmission in duty-cycled WSNs, utilizing (...) advanced optimization techniques to enhance energy efficiency, reduce latency, and improve network throughput. By aggregating data packets from multiple nodes before transmission, the proposed method minimizes the number of transmissions, thereby conserving energy. Optimization algorithms such as Genetic Algorithms (GA) and Particle Swarm Optimization (PSO) are employed to determine the optimal aggregation and transmission schedules, taking into account factors such as network topology, node energy levels, and data urgency. T. (shrink)

Jennifer Lackey’s case “Creationist Teacher,” in which students acquire knowledge of evolutionary theory from a teacher who does not herself believe the theory, has been discussed widely as a counterexample to so-called transmission theories of testimonial knowledge and justification. The case purports to show that a speaker need not herself have knowledge or justification in order to enable listeners to acquire knowledge or justification from her assertion. The original case has been criticized on the ground that it does not (...) really refute the transmission theory, because there is still somebody in a chain of testifiers—the person from whom the creationist teacher acquired what she testifies—who knows the truth of the testified statements. In this paper, we provide a kind of pattern for generating counterexample cases, one that avoids objections discussed by Peter Graham and others in relation to such cases. (shrink)

The application of quantum wave theory to the physics of monetary and socio-economic systems is a methodical novelty; these collected papers do document the research process into the workings of the monetary quantum on economic production.

In response to the claim that certain epistemically defective inferences such as Moore’s argument lead us to the conclusion that we ought to abandon closure, Crispin Wright suggests that we can avoid doing so by distinguishing it from a stronger principle, namely transmission. Where closure says that knowledge of a proposition is a necessary condition on knowledge of anything one knows to entail it, transmission makes a stronger claim, saying that by reasoning deductively from known premises one can (...) thereby acquire knowledge of or justification for the conclusion. Wright’s thought is that in cases such as Moore what is really going on is a failure of transmission, not a failure of closure. The problem with this claim is that it relies on an outdated formulation of closure which few nowadays would find plausible. Once we stipulate that it is the intuitive closure principle that deserves our attention, it becomes far less obvious that the project of diagnosing what is wrong with arguments such as Moore in terms of transmission failure but not closure failure can be vindicated. In order to demonstrate this claim, I consider intuitive closure of propositional justification vs. transmission of propositional justification and concede that perhaps these can come apart in the way that Wright suggests. I then argue that despite this concession, we also need an answer to the question of whether intuitive closure for doxastic justification and transmission for doxastic justification can come apart. We need an answer to this question because our ultimate interest in these issues stems from our interest in whether knowledge obeys closure, not merely whether propositional justification does. I argue that, even on the assumption that there is transmission failure of propositional justification, there is no transmission failure of doxastic justification. And if this is true, then there is no transmission failure of knowledge either. The transmission failure diagnosis of Moore’s argument and its ilk is thus in trouble. (shrink)

If you ought to perform a certain act, and some other action is a necessary means for you to perform that act, then you ought to perform that other action as well – or so it seems plausible to say. This transmission principle is of both practical and theoretical significance. The aim of this paper is to defend this principle against a number of recent objections, which (as I show) are all based on core assumptions of the view called (...) actualism. I reject actualism, provide an alternative explanation of its plausible features, and present an independent argument for the transmission principle. (shrink)

Within his overarching program aiming to defend an epistemic conception of analyticity, Boghossian (1996 and 1997) has offered a clear-cut explanation of how we can acquire a priori knowledge of logical truths and logical rules through implicit definition. The explanation is based on a special template or general form of argument. Ebert (2005) has argued that an enhanced version of this template is flawed because a segment of it is unable to transmit warrant from its premises to the conclusion. This (...) article aims to defend the template from this objection. We provide an accurate description of the type of non-transmissivity that Ebert attributes to the template and clarify why this is a novel type of non-transmissivity. Then, we argue that Jenkins (2008)’s response to Ebert fails because it focuses on doxastic rather than propositional warrant. Finally, we rebut Ebert’s objection on Boghossian’s behalf by showing that it rests on an unwarranted assumption and is internally incoherent. (shrink)

Understanding the pervasiveness of sin is central to Christian theology. The question of why humans are so sinful given an omniscient, omnipotent, and omnibenevolent God presents a challenge and a puzzle. Here, we investigate Friedrich Schleiermacher’s biocultural evolutionary account of sin. We look at empirical evidence to support it and use the cultural Price equation to provide a naturalistic model of the transmission of sin. This model can help us understand how sin can be ubiquitous and unavoidable, even though (...) it is not biologically transmitted, and even if there is no historical Fall that precipitated the tendency to sin. (shrink)

Underwater Wireless Sensor Networks (UWSNs) are pivotal for various applications, including oceanographic data collection, environmental monitoring, and naval operations. However, the harsh underwater environment poses challenges in designing efficient routing protocols, especially concerning energy consumption and data transmission reliability. This paper proposes an optimized depth-based routing protocol for energy-aware data transmission in UWSNs, focusing on minimizing energy usage while ensuring robust data delivery. The protocol dynamically adjusts transmission power based on node depth and residual energy, reducing communication (...) overhead and prolonging network lifetime. (shrink)

Ong, Caroline There was once a strong belief amongst global HIV/AIDS organisations that the key to the prevention of the sexual transmission of HIV was condom use. Other measures such as abstinence and being loyal to one partner were seen as beneficial, but secondary. Thirty years later, the evidence is mounting that behavioural change is much more effective in halting the spread of HIV than condoms.

Actualists hold that contrary-to-duty scenarios give rise to deontic dilemmas and provide counterexamples to the transmission principle, according to which we ought to take the necessary means to actions we ought to perform. In an earlier article, I have argued, contrary to actualism, that the notion of ‘ought’ that figures in conclusions of practical deliberation does not allow for deontic dilemmas and validates the transmission principle. Here I defend these claims, together with my possibilist account of contrary-to-duty scenarios, (...) against Stephen White’s recent criticism. (shrink)

Some of our reasons for action are grounded in the fact that the action in question is a means to something else we have reason to do. This raises the question as to which principles govern the transmission of reasons from ends to means. In this paper, we discuss the merits and demerits of a liberal transmission principle, which plays a prominent role in the current literature. The principle states that an agent has an instrumental reason to whenever (...) -ing is a means for him to do what he has intrinsic reason to do. We start by discussing the objection that this principle implies counterintuitive reason statements. We argue that attempts to solve this “too many reasons problem” by appealing to pragmatic strategies for debunking intuitions about so-called negative reason existentials are questionable. Subsequently, we discuss three important arguments in favor of Liberal Transmission, and argue that they fail to make a convincing case for this principle. In the course of the discussion, we also provide alternative, less liberal transmission principles. We argue that these alternative principles allow us to accommodate those phenomena that seem to support Liberal Transmission while avoiding its problems. (shrink)

t: Wireless Sensor Networks (WSNs) have become increasingly prevalent in various applications, ranging from environmental monitoring to smart cities. However, the limited energy resources of sensor nodes pose significant challenges in maintaining network longevity and data transmission efficiency. Duty-cycled WSNs, where sensor nodes alternate between active and sleep states to conserve energy, offer a solution to these challenges but introduce new complexities in data transmission.

People have said for generations that money is based on "trust," or "shared fiction." But that doesn't explain why cultures all eventually come to value the same metals or items as money. Others have said that the value of money depends on the way it facilitates trade, but even that doesn't explain where the value emerges before people agree to use money to trade. In actuality, there's a real value to gold, silver, and other forms of money that makes them (...) reliably gain worth to people, and will emerge eventually even if everyone in a society does not like or believe in those precious metals or possessions. This is because possessing scarce objects has real reputational value among people, since having those objects indicates that we can go outside the known territory, and we instinctively collect and want things that have known scarcity. When that scarcity combines with other traits like transferability, durability and so on, we can see that money naturally emerges in society. We can use this idea to also see the real value and desire that people have for new forms of money like cryptocurrencies, and to know what will or won't emerge and last as a form of money in the future. (shrink)

Crispin Wright has given an explanation of how a first time warrant can fall short of transmitting across a known entailment. Formal epistemologists have struggled to turn Wright’s informal explanation into cogent Bayesian reasoning. In this paper, I analyse two Bayesian models of Wright’s account respectively proposed by Samir Okasha and Jake Chandler. I argue that both formalizations are unsatisfactory for different reasons, and I lay down a third Bayesian model that appears to me to capture the valid kernel of (...) Wright’s explanation. After this, I consider a recent development in Wright’s account of transmission failure. Wright suggests that his condition sufficient for transmission failure of first time warrant also suffices for transmission failure of supplementary warrant. I propose an interpretation of Wright’s suggestion that shield it from objections. I then lay down a fourth Bayesian framework that provides a simplified model of the unified explanation of transmission failure envisaged by Wright. (shrink)

Evidence matters for responsibility. This paper investigates implications of this insight for group responsibility and the literature on group belief. In particular, we will be focusing on the transmission of group responsibility from group to individual. We will argue that there are cases in which responsibility transmits fully (to all members of the group), partially (to some but not all of its members), or not at all (to none of its members), and we will explore some implications of these (...) observations for accounts of group belief and evidence in the literature on social epistemology. More specifically, we will provide reason to think that these observations provide support for an account of group belief that we favour over its main rivals in the literature. (shrink)

In order to improve our understanding of the components that reflect functionally important processes during reward anticipation and consumption, we used principle components analyses (PCA) to separate and quantify averaged ERP data obtained from each stage of a modified monetary incentive delay (MID) task. Although a small number of recent ERP studies have reported that reward and loss cues potentiate ERPs during anticipation, action preparation, and consummatory stages of reward processing, these findings are inconsistent due to temporal and spatial (...) overlap between the relevant electrophysiological components. Our results show three components following cue presentation are sensitive to incentive cues (N1, P3a, P3b). In contrast to previous research, reward‐related enhancement occurred only in the P3b, with earlier components more sensitive to break‐even and loss cues. During feedback anticipation, we observed a lateralized centroparietal negativity that was sensitive to response hand but not cue type. We also show that use of PCA on ERPs reflecting reward consumption successfully separates the reward positivity from the independently modulated feedback‐P3. Last, we observe for the first time a new reward consumption component: a late negativity distributed over the left frontal pole. This component appears to be sensitive to response hand, especially in the context of monetary gain. These results illustrate that the time course and sensitivities of electrophysiological activity that follows incentive cues do not follow a simple heuristic in which reward incentive cues produce enhanced activity at all stages and substages. (shrink)

Most philosophers believe that testimony is not a fundamental source of knowledge, but merely a way to transmit already existing knowledge. However, Jennifer Lackey has presented some counterexamples which show that one can actually come to know something through testimony that no one ever knew before. Yet, the intuitive idea can be preserved by the weaker claim that someone in a knowledge-constituting testimonial chain has to have access to some non-testimonial source of knowledge with regard to what is testified. But (...) even this weaker claim has a counterexample which I develop in close connection with a safety-account of knowledge. Thus, testimonial statements can sometimes enable us to know something for which none of our informants has any source of knowledge available. I conclude that my counterexample nevertheless does not affect the core of our intuitions about testimony, although it establishes that testimony can indeed be a fundamental source of knowledge. (shrink)

This paper is part of a symposium on Linda Zagzebski's EPISTEMIC AUTHORITY (OUP, 2012). It focuses on Zagzebski's argument that the transmission of information through a chain of testimony weakens its evidential value. This argument is shown to rest on an overly simplistic model of testimonial transmission that does not apply to religious traditions. The real problem with modeling religious traditions just as transmitters of information is that this assumes a conception of religious knowledge that is too "insular" (...) with respect to other things the believer knows, as well as aspects of religious faith that go beyond the mere acceptance of doctrines. (shrink)

Communication is an inherently strategic matter. This paper introduces simple game theoretic models of information transmission to identify different forms of uncertainty which may pose a problem of trust in testimony. Strategic analysis suggests discriminating between trust in integrity, trust in competence, trust in (the will to invest) effort and trust in honesty. Whereas uncertainty about the sender's honesty or integrity may directly influence a rational receiver's readiness to rely on sender's statements, neither uncertainty about the competence of a (...) sender nor uncertainty about his willingness to invest effort has any direct impact on rational reliance on its own. In this regard, trust in honesty and trust in integrity appear to be more basic than trust in competence or effort. (shrink)

According to Jim Pryor’s dogmatism, if you have an experience as if P, you acquire immediate prima facie justification for believing P. Pryor contends that dogmatism validates Moore’s infamous proof of a material world. Against Pryor, I argue that if dogmatism is true, Moore’s proof turns out to be non-transmissive of justification according to one of the senses of non-transmissivity defined by Crispin Wright. This type of non-transmissivity doesn’t deprive dogmatism of its apparent antisceptical bite.

Epistemically circular arguments have been receiving quite a bit of attention in the literature for the past decade or so. Often the goal is to determine whether reliabilists (or other foundationalists) are committed to the legitimacy of epistemically circular arguments. It is often assumed that epistemic circularity is objectionable, though sometimes reliabilists accept that their position entails the legitimacy of some epistemically circular arguments, and then go on to affirm that such arguments really are good ones. My goal in this (...) paper is to argue against the legitimacy of epistemically circular arguments. My strategy is to give a direct argument against the legitimacy of epistemically circular arguments, which rests on a principle of basis-relative safety, and then to argue that reliabilists do not have the resources to resist the argument. I argue that even if the premises of an epistemically circular argument enjoy reliabilist justification, the argument does not transmit that justification to its conclusion. The main goal of my argument is to show that epistemic circularity is always a bad thing, but it also has the positive consequence that reliabilists are freed from an awkward commitment to the legitimacy of some intuitively bad arguments. (shrink)

In 1935, the Nazi government introduced what came to be known as the abrogation of the pro- hibition of analogy. This measure, a feature of the new penal law, required judges to stray from the letter of the written law and to consider instead whether an action was worthy of pun- ishment according to the ‘sound perception of the people’ and the ‘underlying principle’ of existing criminal statutes. In discussions of Nazi law, an almost unanimous conclusion is that a system (...) of criminal law ought not to contain legislation of this sort. This conclusion is often based on how the abro- gation relates to the normative claim that the law ought to be predictable. In particular, it has been argued that since the law ought to be predictable, and since this type of analogy legis- lation implied, caused or contributed to the diminution of the law’s predictability, this type of legislation ought to be prohibited. In this paper, we argue that this argument is not entirely correct. While we believe that the law ought to be predictable and that there is evidence for the claim that the Nazis’ intro- duction of analogical reasoning implied, caused, or contributed to a diminution of predictability, this fact is logically too weak to ground the conclusion that necessarily a penal system ought not to contain legislation of this kind. Despite the undeniable wickedness of the Nazi penal system, this type of analogical reasoning can be made consistent with the pre- dictability of the law. We argue that consistency of this sort depends on whether the use of analogy is supplemented by certain contextual background conditions. The occurrence of these conditions blocks an inference from the fact that the law ought to be predictable to the conclusion that a penal system ought not to allow for this type of analogical reasoning. (shrink)

Commonsense holds that testimony transfers knowledge from a speaker to the hearer. If the speaker has knowledge, then the hearer acquires it. Call that sufficiency. And a hearer acquires knowledge only if the speaker has it to transfer. Call that necessity. This article reviews counterexamples--and some replies to those counterexamples--to both claims.