In the American medical system, patients do not know the final price of treatment until long after the treatment is given, at which point it is too late to say “no.” I argue that without price disclosure many, perhaps all, tokens of consent in clinical medicine fall below the standard of valid, informed consent. This is a sweeping and broad thesis. The reason for this thesis is surprisingly simple: medical services rarely have prices attached to them that (...) are known to the patient prior to treatment. Yet, for many patients, knowledge of the price is relevant to whether they would give consent. If informed consent requires that patients know all information about their treatment that is relevant to their decision, then consent to a medical intervention in the absence of the price is not informed consent. (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)

Due to the shortage of organs, it has been proposed that the ban on organ sales is lifted and a market-based procurement system introduced. This paper assesses four prominent proposals for how such a market could be arranged: unregulated current market, regulated current market, payment-for-consent futures market, and the family-reward futures market. These are assessed in terms of how applicable prominent concerns with organ sales are for each model. The concerns evaluated are that organ markets will crowd out altruistic (...) donation, that consent to sell organs is invalid, that sellers will be harmed, and that commodification of organs will affect human relationships in a negative way. The paper concludes that the family-reward futures market fares best in this comparison but also that it provides the weakest incentive to potential buyers. There is an inverse relationship between how applicable prominent critiques are to organ market models and the increase in available organs they can be expected to provide. (shrink)

Abstract: Accurate stock price prediction is essential for informed investment decisions and financial planning. In this research, we introduce an innovative approach to forecast stock prices using an Artificial Neural Network (ANN). Our dataset, consisting of 5582 samples and 6 features, including historical price data and technical indicators, was sourced from Yahoo Finance. The proposed ANN model, composed of four layers (1 input, 1 hidden, 1 output), underwent rigorous training and validation, yielding remarkable results with an accuracy of (...) 99.84% and an average error of 0.005. Additionally, we conducted a feature importance analysis, identifying the key drivers of stock price prediction, such as "High," "Low," "Open," "Volume"," and "Date." This study not only offers a highly accurate stock price prediction model but also contributes valuable insights into the influential factors affecting stock prices, enhancing the field of financial analysis and investment decision-making that are suitable for the task. (shrink)

In this essay I shall consider a certain methodological claim gaining currency in connectionist quarters: The claim that variables are costly to implement in PDP systems and hence are not likely to be as important in cognitive processing as orthodox theories of cognition assume.

_ Source: _Volume 95, Issue 3, pp 368 - 413 Frege famously maintained that concepts are not objects. A key argument of Frege’s for this view is, in outline, as follows: if we are to account for the unity of thought, concepts must be deemed _unsaturated_; since objects are, by contrast, saturated entities, concepts cannot be objects. The author investigates what can be made of this argument and, in particular, of the unsaturated/saturated distinction it invokes. Systematically exploring a range of (...) reconstructions suggested by Frege’s writings, and drawing on contemporary work, the author illustrates that no plausible reconstruction is forthcoming. In essence, it is altogether unclear how to simultaneously substantiate, on the one hand, the claim that unsaturated entities must be recognized in order to account for unity and, on the other, the claim that unsaturatedness is incompatible with objecthood. (shrink)

Effectiveness of Public Distribution System in Jammu & Kashmir -/- Author / Authors :Ms. Ramandeep Kour Page no.166-178 Discipline : Applied Economics/ Management/ Commerce Script/language : Roman/English Category : Research paper Key words: PDS (Public Distribution System), Fair Price Shop, Social Security, Essential Commodities.

There is a widespread consensus that a commodification of body parts is to be prevented. Numerous policy papers by international organizations extend this view to the blood supply and recommend a system of uncompensated volunteers in this area—often, however, without making the arguments for this view explicit. This situation seems to indicate that a relevant source of justified worry or unease about the blood supply system has to do with the issue of commodification. As a result, the current (...) health minister of Ontario is proposing a ban on compensation even for blood plasma—despite the fact that Canada can only generate 30 % of the plasma needed for fractionation into important plasma protein products and has to purchase the rest abroad. In the following, I am going to suggest a number of alternative perspectives on the debate in order to facilitate a less dogmatic and more differentiated debate about the matter. Especially in light of the often over-simplified notions of altruism and commodification, I conclude that the debate has not conclusively established that it would be morally objectionable to provide blood plasma donors with monetary compensation or with other forms of explicit social recognition as an incentive. This is especially true of donations for fractionation into medicinal products by profit-oriented pharmaceutical companies. (shrink)

John Wilkins and Malte Ebach respond to the dismissal of classification as something we need not concern ourselves with because it is, as Ernest Rutherford suggested, mere ‘‘stamp collecting.’’ They contend that classification is neither derivative of explanation or of hypothesis-making but is necessarily prior and prerequisite to it. Classification comes first and causal explanations are dependent upon it. As such it is an important (but neglected) area of philosophical study. Wilkins and Ebach reject Norwood Russell Hanson’s thesis that classification (...) relies on observation that is theory-laden and deny the need for aetiological assumptions and historical reconstruction to justify its arrangement. What they offer instead is a significant (albeit controversial) contribution to the philosophical literature on classification, a pre-theoretic natural classification based on the observation of patterns in data of ready-made phenomena. Their notion of ready-made phenomena rests on a conception of tacit knowledge or know-how. This is evident in their distinction between strong Theory-dependence and na ̈ıve theory-dependence. Their small t-theory-dependence permits patterns of observation that facilitate know-how but does not rely on a domain-specific explanatory theory of their aetiology. Wilkins and Ebach suggest classification differs from theory building in that it is passive (whereas theory building is active). Classification is possible just because it does not require the sieve of theory to capture classes that are ‘‘handed to you by your cognitive dispositions and the data that you observe’’ (p. 18). Finding regularities sans-theory is just something we do and can do without any prior theory about the underlying causes or origins of the resultant regularities. Luke Howard’s classification of clouds serves as an exemplar of a passive, theory-free classification system and the periodic table and the DSM help to illustrate this type of non-aetiological patterning. A recurrent theme is the nature of naturalness. For Wilkins and Ebach, the conception of naturalness is not one that is based on the generation or discovery of natural kind categories popular in both the traditional metaphysics of Mill and Wittgenstein as well as updated notions within philosophy of biology such as Boyd’s Homeostatic Property Cluster kinds. Instead, Wilkins and Ebach define the naturalness of classification as the falling into hierarchical patterns, aligning the search for natural arrangement with the aim of systematics, and as something that is grounded in a cognitive task or activity. However, they leave the question of realism v. antirealism open. ‘‘In natural classification...we must have real relations no matter how we might interpret ‘real’’’ (p. 70). There is tension with regard to their ontological commitments as they vacillate between constructive, operationalist, and realist approaches. Wilkins and Ebach initially define real as that which is causal and important (pp. 70–71), and later as that which ‘‘depends in no way upon a mind or observer’’ (p. 122). This makes their claim that there was ‘‘no real theory involved [in the pre-Darwinian classifications of Jussieu and Adanson]’’ (p. 64) difficult to interpret. Cont’d……. (shrink)

The move from open outcry to electronic trading added another responsibility to futures exchanges—that of matching orders between buyers and sellers. Matching systems can affect the level and speed of price discovery, the distribution of revenue, as well as the level of price efficiency of a given market. Whether the matching system is procedurally fair is another important consideration. I argue that while FIFO (First In First Out) is a fair procedure in principle and is perceived as (...) the default matching system, it is not a fair procedure in practice. Likewise, while pro rata is a fair procedure in principle, it is not so in practice. Nevertheless, both FIFO and pro rata are relics of an open outcry system. Instead, I propose an alternative approach to matching systems that builds on the strengths of electronic trading—the ability to randomize in real time. I introduce random selection for service (RSS) as a matching system that is procedurally fair both in principle and in practice. (shrink)

In his influential book 'Making Things Happen' and in other places, Jim Woodward has noted some affinities between his own account of causation and that of Menzies and Price, but argued that the latter view is implausibly ‘subjective’. In this piece I discuss Woodward’s criticisms. I argue that the Menzies and Price view is not as different from Woodward’s own account as he believes, and that in so far as it is different, it has some advantages whose importance (...) Woodward misses; but also that the Menzies and Price view lacks some elements whose importance Woodward rightly stresses. When properly characterized, however, the ‘subjectivity’ survives unscathed. (shrink)

In this paper an attempt has been made towards the design and evaluation of a solar parabolic trough collector (PTC) system integrated with a conventional oil boiler (COB) to increase the energy utilization effectiveness and reduce the environmental emission of the existing conventional oil boiler in the Kombolcha textile factory, in Ethiopia. The factory uses 8500 ton/annum of heavy fuel oil to generate 26 ton/hour of pressurized hot water at 140C temperature which causes an increase in greenhouse gas emissions, (...) so the solar parabolic trough collector hot water generation system will be an appropriate solution for this application. Based on the available annual solar radiation, estimates of the solar fraction, solar energy unit price and system pay-back period have been carried out. The proposed system has the potential to save 1055.9 ton/year of fuel oil. The unit cost of PTC solar energy is estimated to be 0.0088 $/kWh and the payback period of the plant is five years. Since the unit price of oil energy (0.0424 $/kWh) is much greater than the unit price of solar energy by a substantial margin (0.033 $/kWh) in Ethiopia, therefore the water heating system by a solar parabolic trough collector is a feasible alternative to heating by a conventional oil boiler. (shrink)

This paper discusses the relation between Crispin Wright’s alethic pluralism and my global expressivism. I argue that on many topics Wright’s own view counts as expressivism in my sense, but that truth itself is a striking exception. Unlike me, Wright never seems to countenance an expressivist account of truth, though the materials needed are available to him in his approaches to other topics.

Many areas of philosophy employ a distinction between factual and non-factual (descriptive/non-descriptive, cognitive/non-cognitive, etc) uses of language. This book examines the various ways in which this distinction is normally drawn, argues that all are unsatisfactory, and suggests that the search for a sharp distinction is misconceived. The book develops an alternative approach, based on a novel theory of the function and origins of the concept of truth. The central hypothesis is that the main role of the normative notion of truth (...) is to encourage speakers to argue, with long-run behavioural advantages. This offers a fresh perspective on many debates about realism in contemporary philosophy. (shrink)

One of the most striking features of causation is that causes typically precede their effects – the causal arrow is strongly aligned with the temporal arrow. Why should this be so? We offer an opinionated guide to this problem, and to the solutions currently on offer. We conclude that the most promising strategy is to begin with the de facto asymmetry of human deliberation, characterised in epistemic terms, and to build out from there. More than any rival, this subjectivist approach (...) promises to demystify the asymmetry, temporal orientation, and deliberative relevance of causal judgements. (shrink)

Three recent research reports by Topping and Trickey, by Fair and colleagues, and by Gorard, Siddiqui and Huat See have produced data that support the conclusion that a Philosophy for Children program of one-hour-per-week structured discussions has a marked positive impact on students. This article presents data from a follow up study done three years after the completion of the study reported in Fair et al.. The data show that the positive gains in scores on the Cognitive Abilities Test were (...) still present and had not faded after three years. Given the strength of these confirmations of the positive durable impact of the P4C program of structured discussions and given the relatively low cost of implementing the P4C program, it is recommended that it become a standard part of the school curriculum. (shrink)

This is an unpublished piece from July 1998. It discusses the use of semantic notions such as reference in the Canberra Plan, the question whether this use creates a problematic circularity if the Canberra Plan is applied to the semantic notions themselves, and the relation of this question to Putnam’s model-theoretic argument. I used some of the ideas in later papers such as (Price 2004, 2009) and (Menzies & Price, 2009), but the bulk of discussion of the relation (...) of my concern to Putnam’s argument (and to responses to Putnam by others) never made it into print. (shrink)

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

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

There is a current debate about the grammar of intention: do I intend to φ, or that I φ? The equivalent question in Aristotle relates especially to choice. I argue that, in the context of practical reasoning, choice, as also wish, has as its object an act. I then explore the role that this plays within his account of the relation of thought to action. In particular, I discuss the relation of deliberation to the practical syllogism, and the thesis that (...) the conclusion of the second is an action. (shrink)

Understanding the nature of pain depends, at least partly, on recognizing its subjectivity (thus, its first-person epistemology). This in turn requires using a first-person experiential method in addition to third-person experimental approaches to study it. This paper is an attempt to spell out what the former approach is and how it can be integrated with the latter. We start our discussion by examining some foundational issues raised by the use of introspection. We argue that such a first-person method in the (...) scientific study of pain (as in the study of any experience) is in fact indispensable by demonstrating that it has in fact been consistently used in conjunction with conventional third-person methodologies, and this for good reasons. We show that, contrary to what appears to be a widespread opinion, there is absolutely no reason to think that the use of such a first-person approach is scientifically and methodologically suspect. We distinguish between two uses of introspective methods in scientific experiments: one draws on the subjects’ introspective reports where any investigator has equal and objective access. The other is where the investigator becomes a subject of his own study and draws on the introspection of his own experiences. We give examples using and/or approximating both strategies that include studies of second pain summation and its relationship to neural activities, and brain imaging- psychophysical studies wherein sensory and affective qualities of pain are correlated with cerebral cortical activity. We explain what we call the experiential or phenomenological approach that has its origins in the work of Price and Barrell (1980). This approach capitalizes on the scientific prospects and benefits of using the introspection of the investigator. We distinguish between its vertical and horizontal applications. Finally, we conclude that integrating such an approach to standard third-person methodologies can only help us in having a fuller understanding of pain and of conscious experience in general. (shrink)

This piece was written as my Presidential Address at the Annual Conference of the Australasian Association of Philosophy, held at Melbourne University in July 1999. I discuss the view ‘that we can’t describe or theorise about the world from outside language.’ I call this idea ‘linguistic imprisonment’, and take it to be a platitude, although one that is interpreted very differently by different philosophers. In so far as language does depend on contingencies of our own ‘location’, how should we theorise (...) about such matters? I distinguish two approaches, called ‘backgrounding’ and ‘foregrounding’. Roughly, the latter seeks to incorporate the contingencies into the content of claims that depend on them, whereas the former treats them as use conditions. I argue that linguistic imprisonment implies that not everything can be foregrounded, and apply the framework to a then-recent objection to expressivism by Jackson and Pettit. (shrink)

Are the distinctions between past, present and future, and the apparent ‘passage’ of time, features of the world in itself, or manifestations of the human perspective? Questions of this kind have been at the heart of metaphysics of time since antiquity. The latter view has much in common with pragmatism, though few in these debates are aware of that connection, and few of the view’s proponents think of themselves as pragmatists. For their part, pragmatists are often unaware of this congenial (...) application of their methodology; some associate pragmatism with the other side of the old debate in the metaphysics of time. In my view, this link between time and pragmatism only scratches the surface of the deep two-way dependencies between these two topics. The human temporal perspective turns out to be deeply implicated not merely in our temporal notions themselves, but in many other conceptual categories – arguably, in fact, in all of them, and in the nature of language and thought. In this way, reflection on our own temporal character vindicates James’ famous slogan for global pragmatism: ‘The trail of the human serpent is thus over everything.’. (shrink)

Causalists and Evidentialists can agree about the right course of action in an (apparent) Newcomb problem, if the causal facts are not as initially they seem. If declining $1,000 causes the Predictor to have placed $1m in the opaque box, CDT agrees with EDT that one-boxing is rational. This creates a difficulty for Causalists. We explain the problem with reference to Dummett's work on backward causation and Lewis's on chance and crystal balls. We show that the possibility that the causal (...) facts might be properly judged to be non-standard in Newcomb problems leads to a dilemma for Causalism. One horn embraces a subjectivist understanding of causation, in a sense analogous to Lewis's own subjectivist conception of objective chance. In this case the analogy with chance reveals a terminological choice point, such that either (i) CDT is completely reconciled with EDT, or (ii) EDT takes precedence in the cases in which the two theories give different recommendations. The other horn of the dilemma rejects subjectivism, but now the analogy with chance suggests that it is simply mysterious why causation so construed should constrain rational action. (shrink)

In recent work Allan Gibbard claims to be both a local quasi-realist, in Blackburn’s sense, and a global expressivist. His local quasi-realism rests on an argument that for naturalistic discourse but not ethical discourse, the semantic relation of denotation and the causal relation of tracking can and should be identified; that denoting simply is tracking, for naturalistic vocabulary. I argue that Gibbard’s case for this conclusion is unconvincing, and poorly motivated by his own expressivist standards. I also argue that even (...) if it were successful, it is doubtful whether the resulting position would count as global expressivism, as Gibbard and I both use that term. (shrink)

The best-known argument for Evidential Decision Theory (EDT) is the ‘Why ain’cha rich?’ challenge to rival Causal Decision Theory (CDT). The basis for this challenge is that in Newcomb-like situations, acts that conform to EDT may be known in advance to have the better return than acts that conform to CDT. Frank Arntzenius has recently proposed an ingenious counter argument, based on an example in which, he claims, it is predictable in advance that acts that conform to EDT will do (...) less well than acts that conform to CDT. We raise two objections to Arntzenius’s example. We argue, first, that the example is subtly incoherent, in a way that undermines its effectiveness against EDT; and, second, that the example relies on calculating the average return over an inappropriate population of acts. (shrink)

This is a review of Zalabardo's Pragmatist Semantics (OUP, 2023), forthcoming in Mind.

Ismael traces our sense that the past is fixed and the future open to what she calls ‘the practical arrow’ – ‘the sense that we can affect the future but not the past.’ In this piece I draw a sharper distinction than Ismael herself does between agents and mere observers, even self-referential observers; and I use it to argue that Ismael’s explanation of the practical arrow is incomplete. To explain our inability to affect the past we need to appeal to (...) our own temporal orientation as agents, and not merely to the ingredients from physics that allow us to predict the consequences of our actions. [This piece is a commentary on J Ismael’s ‘The Open Universe: Totality, Self-Reference and Time’, to appear in the Australasian Philosophical Review.]. (shrink)

Carnap was one of the first to use the term 'non-cognitivism'. His linguistic pluralism and voluntarism, and his deflationary views of ontology and semantics, are highly congenial to those of us who want to take non-cognitivism in the direction of global expressivism. In his own case, however, this move is in tension with his continued endorsement of what he calls 'the general thesis of logical empiricism', that 'there is no third kind of knowledge besides empirical and logical knowledge.’ So while (...) Carnap clears a path towards global expressivism, he doesn't seem to appreciate what it requires him to leave behind. (shrink)

Hume maintained that, philosophically speaking, there is no difference between exiting a room out of the first-floor window and using the door. Nevertheless, Hume’s reason and common sense prevailed over his scepticism and he advocated that we should always use the door. However, we are currently living in a world that is more seriously committed to the Humean philosophy of empiricism than he was himself and thus the potential to act inappropriately is an ever-present potential. In this paper, I explore (...) how Hume’s two versions of causality have detrimentally affected our ability both to arrive at and to use research to improve human well-being. I illustrate my argument with an example of what I think is an incorrect yet supposedly scientifically sound assumption: that absenteeism causes poor school attainment. Instead I make the interdisciplinary argument that absenteeism is better understood as an aggravating symptom of a number of other causes of poor attainment, such as poverty and individual psychological factors. I suggest that an instrumental, punitive policy against parents whose children tend to be absent from school may be ineffectual or even counterproductive if the objective is to improve the well-being of those children. To support my argument, I introduce the critical realist idea of transfactuality. Using the example of research into moon rocks, I show how mainstream science uses transfactuality despite its empiricist aversion to it. I also suggest that it is our honesty, integrity, and stoicism that lead us to the extreme overthrow of reason and common sense that we see today in many of the UK’s social policies; an overthrow that Hume himself did not achieve. Metaphorically speaking, British professionals, stoically and honestly believing in the ability of their trusted research correlations to guide their action, are exiting out of the first-floor window rather than using the door. This is a significant barrier to our ability to devise and implement social policy. (shrink)

Frege’s rejection of singular reference to concepts is centrally implicated in his notorious paradox of the concept horse. I distinguish a number of claims in which that rejection might consist and detail the dialectical difficulties confronting the defense of several such claims. Arguably the least problematic such claim—that it is simply nonsense to say that a concept can be referred to with a singular term—has recently received a novel defense due to Robert Trueman. I set out Trueman’s argument for this (...) claim, identifying and remedying some omissions and errors of formulation therein. I then develop a response to the argument by showing, pace Trueman, that it is possible—and how it is possible—to express identities between objects and concepts. (shrink)

This piece was written circa 1982–83, drawing in part on material from my PhD thesis (The Problem of the Single Case, Cambridge, 1981). In the thesis I proposed what would now be called an expressivist account of judgements of the form ‘It is probable that p’. One chapter, on which this paper builds, tried to defend the view against the Frege-Geach argument. This piece earned a revise and resubmit from Philosophical Review, but was never resubmitted. Parts of it made their (...) way into my ‘Semantic Minimalism and the Frege Point’, in Tsohatzidis, S.L.(ed.), Foundations of Speech Act Theory: Philosophical and Linguistic Perspectives, Routledge, 1994, pp. 132–55 (reprinted in Naturalism without Mirrors, Oxford, 2011, ch. 3) – though that paper favours a different approach to the Frege-Geach argument, leaning more heavily on semantic minimalism. I’m putting this piece online to facilitate self-citation. (shrink)

This is my review of Craig Callender's book What Makes Time Special?

This is my Cambridge PhD thesis, written under the supervision of Hugh Mellor and Richard Healey, and examined by Mary Hesse and Simon Blackburn. It addresses what it takes to be the core of the problem of single case probability, namely, the interpretation of claims such as ‘It is probable that P’ (where the probabilistic component occurs as a sentential or propositional operator). I argue that claims of this form are not genuinely truth-apt, and that such operators modify the force, (...) rather than the sense, of sentences or propositions to which they attach. In contemporary terms, I thus defend a version of what Yalcin (2012) has called ‘credal expressivism’. Some of the core arguments were later published in the following papers: (i) ‘Does “Probably” modify sense?’, Australasian Journal of Philosophy 61(1983), 396–408 and (ii) 'Mellor, chance and the single case', British Journal for the Philosophy of Science 35(1984), 11-23. Other arguments, including an attempt at the Frege-Geach problem, form the basis of an unpublished piece 'The use of force in a theory of meaning' (1983), accessible at PhilPapers. (shrink)

In this paper I propose to describe, in brief, a semiotic paradigm which results from the redefinition of the linguistic sign as a molecular sememe. Borrowing a tactic from Wittgenstein, I wish to use the game of chess as an analogy for the sake of describing what a molecular sememe is. Then I hope to use it further to sketch several implications of this semiotic paradigm for literary criticism and critical theory.

Istvan Hont’s classic work on the theoretical links between the seventeenth-century natural jurists Hugo Grotius and Samuel Pufendorf and the eighteenth-century Scottish political economists remains a popular trope among intellectual and economic historians of various stamps. Despite this, a common criticism levelled at Hont remains his relative lack of engagement with the relationship between religion and economics in the early modern period. This paper challenges this aspect of Hont’s narrative by drawing attention to an alternative, albeit complementary, assessment of the (...) natural jurisprudential heritage of eighteenth-century British political economy. Specifically, the article attempts to map on to Hont’s thesis the Christian Stoic interpretation of Grotius and Pufendorf which has gained greater currency in recent years. In doing so, the paper argues that Grotius and Pufendorf’s contributions to the ‘unsocial sociability’ debate do not necessarily lead directly to the Scottish school of political economists, as is commonly assumed. Instead, it contends that a reconsideration of Grotius and Pufendorf as neo-Stoic theorists, particularly via scrutiny of their respective adaptations of the traditional Stoic theory of oikeiosis, steers us towards the heart of the early English ‘clerical’ Enlightenment. (shrink)

In his book The Sensory Order, Hayek anticipates many of the central ideas behind what we now call the connectionist paradigm, and develops on this basis a theory of the workings of the human mind that extends the thinking of Hume and Mach. He shows that the idea of neural networks is can be applied not only in psychology and neurology but also in the sphere of economics. For the mind, from the perspective of The Sensory Order, is a dynamic, (...) relational affair that is in many respects analogous to a market process. The mind, as Hayek puts it, is a 'continuous stream of impulses, the significance of each and every contribution of which is determined by the place in the pattern of channels through which they flow' , so that the flow of representative neural impulses can be compared 'to a stock of capital being nourished by inputs and giving a continuous stream of outputs'. (shrink)

Economies are complicated systems encompassing micro behaviors, interaction patterns, and global regularities. Whether partial or general in scope, studies of economic systems must consider how to handle difficult real-world aspects such as asymmetric information, imperfect competition, strategic interaction, collective learning, and the possibility of multiple equilibria. Recent advances in analytical and computational tools are permitting new approaches to the quantitative study of these aspects. One such approach is Agent-based Computational Economics (ACE), the computational study of economic processes modeled as dynamic (...) systems of interacting agents. This chapter explores the potential advantages and disadvantages of ACE for the study of economic systems. General points are concretely illustrated using an ACE model of a two-sector decentralized market economy. Six issues are highlighted: Constructive understanding of production, pricing, and trade processes; the essential primacy of survival; strategic rivalry and market power; behavioral uncertainty and learning; the role of conventions and organizations; and the complex interactions among structural attributes, institutional arrangements, and behavioral dispositions. (shrink)

The market failures approach to business ethics has recently garnered substantial critical attention (see, e.g., Cohen and Peterson 2019; Moriarty 2020; Steinberg 2017; Hsieh 2017; von Kriegstein 2016; Smith 2018; Endorfer and Larue 2022; Singer 2018). Though precursors of this view can be found in the literature (e.g., McMahon 1981; Friedman 1970), it was Joseph Heath (2004, 2006, 2014, 2023) who developed the approach and gave it its name. The market failures approach (henceforth: MFA) is concerned with the ethical obligations (...) of managers of firms (Heath 2014, 69). Roughly, it holds that managers ought not to conduct their businesses in a way that exploits market failures. “Market failure” is a technical term, meaning any failure of the conditions of the first fundamental welfare theorem, sometimes called the “Pareto conditions” (see Arrow 1951). The theorem states that if the Pareto conditions hold, then the market equilibrium will use society’s scarce resources efficiently, meaning that no one could be made better-off without making anyone else worse off. Efficiency, according to Heath (2014, chapter 7), is the implicit morality of the market. We coordinate much of our shared activity using markets, Heath claims, because of their ability to produce efficient results. Markets are good forms of social organization, according to Heath, because they are the best way to promote our values given empirical facts about the frailties of human psychology and the informational constraints that we face. As such, managers ought not compromise the very conditions that justify a market economy by profiting from breakdowns in the market’s efficiency. Managers are permitted to maximize profits, so long as they do not violate the market’s norm of efficiency in so doing. This is because the fundamental justification for the profit motive is that it is necessary for the operation of the price system which is essential to the efficiency properties of markets. In this paper, I will argue that the MFA is more general than even Heath himself claims. The MFA describes the professional obligations of managers, but the view I develop, the generalized market failures approach, describes the obligations of all market participants. Since efficiency is the implicit morality of the market, it binds not just managers, but all market participants, including consumers, investors and workers. Market participants are permitted to maximize the benefit they gain from market interactions, as long as they do so in a way that does not take advantage of any market failures. Generalizing the MFA in this way has three benefits: first, we gain a unified understanding of the ethics of non-managerial market roles; second, we will develop an even better understanding of the duties of managers; finally, it gives us the resources to respond to some familiar objections to the MFA found in the literature. In the next section, I will further motivate the MFA and explain how this motivation can be easily generalized to other market roles. Importantly, one can avoid benefiting from a market failure in two distinct ways: by avoiding transactions that exploit market failures or by transacting in such markets and then remediating the harm done, by compensating those negatively affected by the market failure. This section concludes by discussing how the remediation duties are to be split between the transacting parties and how to identify the parties to whom compensation is owed. In section 3, I use the tools of the generalized MFA to develop a unified ethics of consumption, investment and labor, respectively. This is the basis of a grand abductive argument for the generalized MFA. The view is strongly supported by the fact that it provides attractive and unifying explanations of our obligations in domains as variegated as carbon offsetting, CEO compensation, the reparations white Americans owe to black Americans and occupational licensure. Section 4 briefly concludes. (shrink)

F.A. Hayek essentially quit economic theory and gave up the phenomena of industrial fluctuations as an explicit object of theoretical investigation following the publication of his last work in technical economics, 1941’s The Pure Theory of Capital. Nonetheless, several of Hayek’s more methodologically-oriented writings bear important implications for economic phenomena, especially those of industrial fluctuations. Decisions (usually, for Hayek, of a political nature) taken on the basis of a “pretence” of knowledge impede the operation of the price system’s (...) belief-coordinating function and thereby contribute to episodes of economic disequilibrium. Moreover, this later account – which I call Hayek’s epistemic theory of industrial fluctuations – implies certain aspects of his earlier theory. The two accounts are connected in virtue of the role that ignorance and the limits of human knowledge play in each. Indeed, it turns out that – substantively, if not methodologically – Hayek’s early theory of the cycle is a special case of the more general epistemic account. (shrink)

According to most accounts of trust, you can only trust other people (or groups of people). To trust is to think that another has goodwill, or something to that effect. I sketch a different form of trust: the unquestioning attitude. What it is to trust, in this sense, is to settle one’s mind about something, to stop questioning it. To trust is to rely on a resource while suspending deliberation over its reliability. Trust lowers the barrier of monitoring, challenging, checking, (...) and questioning. Trust sets up open pipelines between yourself and parts of the external world. Trust permits external resources to have a similar relationship to one as one’s internal cognitive faculties. This creates efficiency, but at the price of exquisite vulnerability. We must trust in this way because we are cognitively limited beings in a cognitively overwhelming world. Crucially, we can hold the unquestioning attitude towards objects and technologies. When I trust my climbing rope, I stop worrying about its reliability. When I trust my online calendaring system, I simply go to the events indicated, without question. But, one might worry, how could one ever hold such a normatively loaded attitude as trust towards mere objects? How could it ever make sense to feel betrayed by an object? Trust is our engine for expanding and outsourcing our agency — for binding external processes into our practical selves. Thus, we can be betrayed by our smartphones in the same way that we can be betrayed by our memory. When we trust, we try to make something a part of our agency, and we are betrayed when our part lets us down. To unquestioningly trust something is to let it in—to attempt to bring it inside one’s practical functioning. This suggests a new form of gullibility: agential gullibility, which occurs when agents too hastily and carelessly integrate external resources into their own agency. (shrink)

The ethical Principle of Proportionality requires combatants not to cause collateral harm excessive in comparison to the anticipated military advantage of an attack. This principle is considered a major (and perhaps insurmountable) obstacle to ethical use of autonomous weapon systems (AWS). This article reviews three possible solutions to the problem of achieving Proportionality compliance in AWS. In doing so, I describe and discuss the three components Proportionality judgments, namely collateral damage estimation, assessment of anticipated military advantage, and judgment of “excessiveness”. (...) Some possible approaches to Proportionality compliance are then presented, such as restricting AWS operations to environments lacking civilian presence, using AWS in targeted strikes in which proportionality judgments are pre-made by human commanders, and a ‘price tag’ approach of pre-assigning acceptable collateral damage values to military hardware in conventional attritional warfare. The article argues that application of these three compliance methods would result in AWS’ achieving acceptable Proportionality compliance levels in many combat environments and scenarios, allowing AWS to perform most key tasks in conventional warfare. (shrink)

PLEASE NOTE: This is the corrected 2nd eBook edition, 2021. ●●●●● _Critique of Impure Reason_ has now also been published in a printed edition. To reduce the otherwise high price of this scholarly, technical book of nearly 900 pages and make it more widely available beyond university libraries to individual readers, the non-profit publisher and the author have agreed to issue the printed edition at cost. ●●●●● The printed edition was released on September 1, 2021 and is now available (...) through all booksellers, including Barnes & Noble, Amazon, and brick-and-mortar bookstores under ISBN 978-0-578-88646-6. ●●●●● In light of the length of this book, readers who would like to have a more detailed description of the book's objectives and method may find it helpful to read the detailed and clearly written Wikipedia entry about this work: From the Wikipedia search page, use the search phrase "Critique of Impure Reason". At least at the time of this writing (11/29/2021), the Wikipedia entry is well-researched and accurate. ●●●●● In addition, a "Primer on Bartlett's CRITIQUE OF IMPURE REASON" has been made available by the author. It is available under its title through PhilPapers and other philosophy online archives. ●●●●● COMMENDATIONS OF THIS WORK, from the back cover of the published edition: ●●●●● “I admire its range of philosophical vision.” – Nicholas Rescher, Distinguished University Professor of Philosophy, University of Pittsburgh, author of more than 100 books. ●●●●● “Bartlett’s _Critique of Impure Reason_ is an impressive, bold, and ambitious work. Careful scholarship is balanced by original analyses that lead the reader to recognize the limits of meaning, knowledge, and conceptual possibility. The work addresses a host of traditional philosophical problems, among them the nature of space, time, causality, consciousness, the self, other minds, ontology, free will and determinism, and others. The book culminates in a fascinating and profound new understanding of relativity physics and quantum theory.” – Gerhard Preyer, Professor of Philosophy, Goethe-University, Frankfurt am Main, Germany, author of many books including _Concepts of Meaning_, _Beyond Semantics and Pragmatics_, _Intention and Practical Thought_, and _Contextualism in Philosophy_. ●●●●● “[This work’s] goal is of a unique and difficult species: Dr. Bartlett seeks to develop a formal logical calculus on the basis of transcendental philosophical arguments; in fact, he hopes that this calculus will be the formal expression of the transcendental foundation of knowledge.... I consider Dr. Bartlett’s work soundly conceived and executed with great skill.” – C. F. von Weizsäcker, philosopher and physicist, former Director, Max-Planck-Institute, Starnberg, Germany. ●●●●● “Bartlett has written an American “Prolegomena to All Future Metaphysics.” He aims rigorously to eliminate meaningless assertions, reach bedrock, and place philosophy on a firm foundation that will enable it, like science and mathematics, to produce lasting results that generations to come can build on. This is a great book, the fruit of a lifetime of research and reflection, and it deserves serious attention.” — Martin X. Moleski, former Professor, Canisius College, Buffalo, NY, studies of scientific method, the presuppositions of thought, and the self-referential nature of epistemology. ●●●●● “Bartlett has written a book on what might be called the underpinnings of philosophy. It has fascinating depth and breadth, and is all the more striking due to its unifying perspective based on the concepts of reference and self-reference.” – Don Perlis, Professor of Computer Science, University of Maryland, author of numerous publications on self-adjusting autonomous systems and philosophical issues concerning self-reference, mind, and consciousness. ●●●●● ●●●●● The _Critique of Impure Reason: Horizons of Possibility and Meaning_ comprises a major and important contribution to philosophy. Thanks to the generosity of its publisher, this massive 885-page volume has been published as a free open access eBook (3.75MB) as well as an open access printed edition. It inaugurates a revolutionary paradigm shift in philosophical thought by providing compelling and long-sought-for solutions to a wide range of philosophical problems. In the process, the work fundamentally transforms the way in which the concepts of reference, meaning, and possibility are understood. The book includes a Foreword by the celebrated German philosopher and physicist Carl Friedrich von Weizsäcker. ●●●●● In Kant’s _Critique of Pure Reason_ we find an analysis of the preconditions of experience and of knowledge. In contrast, but yet in parallel, the new _Critique_ focuses upon the ways—unfortunately very widespread and often unselfconsciously habitual—in which many of the concepts that we employ _conflict_ with the very preconditions of meaning and of knowledge. ●●●●● This is a book about the boundaries of frameworks and about the unrecognized conceptual confusions in which we become entangled when we attempt to transgress beyond the limits of the possible and meaningful. We tend either not to recognize or not to accept that we all-too-often attempt to trespass beyond the boundaries of the frameworks that make knowledge possible and the world meaningful. ●●●●● The _Critique of Impure Reason_ proposes a bold, ground-breaking, and startling thesis: that a great many of the major philosophical problems of the past can be solved through the recognition of a viciously deceptive form of thinking to which philosophers as well as non-philosophers commonly fall victim. For the first time, the book advances and justifies the criticism that a substantial number of the questions that have occupied philosophers fall into the category of “impure reason,” violating the very conditions of their possible meaningfulness. ●●●●● The purpose of the study is twofold: first, to enable us to recognize the boundaries of what is referentially forbidden—the limits beyond which reference becomes meaningless—and second, to avoid falling victims to a certain broad class of conceptual confusions that lie at the heart of many major philosophical problems. As a consequence, the boundaries of _possible meaning_ are determined. ●●●●● Bartlett, the author or editor of more than 20 books, is responsible for identifying this widespread and delusion-inducing variety of error, _metalogical projection_. It is a previously unrecognized and insidious form of erroneous thinking that undermines its own possibility of meaning. It comes about as a result of the pervasive human compulsion to seek to transcend the limits of possible reference and meaning. ●●●●● Based on original research and rigorous analysis combined with extensive scholarship, the _Critique of Impure Reason_ develops a self-validating method that makes it possible to recognize, correct, and eliminate this major and pervasive form of fallacious thinking. In so doing, the book provides at last provable and constructive solutions to a wide range of major philosophical problems. ●●●●● CONTENTS AT A GLANCE ▪▪▪▪▪ Preface ▪▪▪▪▪ Foreword by Carl Friedrich von Weizsäcker ▪▪▪▪▪ Acknowledgments ▪▪▪▪▪ Avant-propos: A philosopher’s rallying call ▪▪▪▪▪ Introduction ▪▪▪▪▪ A note to the reader ▪▪▪▪▪ A note on conventions ▪▪▪▪▪ ▪▪▪▪▪ ▪▪▪▪▪ PART I ▪▪▪▪▪ ▪▪▪▪▪ WHY PHILOSOPHY HAS MADE NO PROGRESS AND HOW IT CAN ▪▪▪▪▪ 1 Philosophical-psychological prelude ▪▪▪▪▪ 2 Putting belief in its place: Its psychology and a needed polemic ▪▪▪▪▪ 3 Turning away from the linguistic turn: From theory of reference to metalogic of reference ▪▪▪▪▪ 4 The stepladder to maximum theoretical generality ▪▪▪▪▪ ▪▪▪▪▪ ▪▪▪▪▪ PART II ▪▪▪▪▪ THE METALOGIC OF REFERENCE ▪▪▪▪▪ A New Approach to Deductive, Transcendental Philosophy ▪▪▪▪▪ 5 Reference, identity, and identification ▪▪▪▪▪ 6 Self-referential argument and the metalogic of reference ▪▪▪▪▪ 7 Possibility theory ▪▪▪▪▪ 8 Presupposition logic, reference, and identification ▪▪▪▪▪ 9 Transcendental argumentation and the metalogic of reference ▪▪▪▪▪ 10 Framework relativity ▪▪▪▪▪ 11 The metalogic of meaning ▪▪▪▪▪ 12 The problem of putative meaning and the logic of meaninglessness ▪▪▪▪▪ 13 Projection ▪▪▪▪▪ 14 Horizons ▪▪▪▪▪ 15 De-projection ▪▪▪▪▪ 16 Self-validation ▪▪▪▪▪ 17 Rationality: Rules of admissibility ▪▪▪▪▪ ▪▪▪▪▪ ▪▪▪▪▪ PART III ▪▪▪▪▪ PHILOSOPHICAL APPLICATIONS OF THE METALOGIC OF REFERENCE ▪▪▪▪▪ Major Problems and Questions of Philosophy and the Philosophy of Science ▪▪▪▪▪ 18 Ontology and the metalogic of reference ▪▪▪▪▪ 19 Discovery or invention in general problem-solving, mathematics, and physics ▪▪▪▪▪ 20 The conceptually unreachable: “The far side” ▪▪▪▪▪ 21 The projections of the external world, things-in-themselves, other minds, realism, and idealism ▪▪▪▪▪ 22 The projections of time, space, and space-time ▪▪▪▪▪ 23 The projections of causality, determinism, and free will ▪▪▪▪▪ 24 Projections of the self and of solipsism ▪▪▪▪▪ 25 Non-relational, agentless reference and referential fields ▪▪▪▪▪ 26 Relativity physics as seen through the lens of the metalogic of reference ▪▪▪▪▪ 27 Quantum theory as seen through the lens of the metalogic of reference ▪▪▪▪▪ 28 Epistemological lessons learned from and applicable to relativity physics and quantum theory ▪▪▪▪▪ ▪▪▪▪▪ PART IV ▪▪▪▪▪ HORIZONS ▪▪▪▪▪ 29 Beyond belief ▪▪▪▪▪ 30 _Critique of Impure Reason_: Its results in retrospect ▪▪▪▪▪ ▪▪▪▪▪ SUPPLEMENT ▪▪▪▪▪ The Formal Structure of the Metalogic of Reference ▪▪▪▪▪ APPENDIX I ▪▪▪▪▪ The Concept of Horizon in the Work of Other Philosophers ▪▪▪▪▪ APPENDIX II ▪▪▪▪▪ Epistemological Intelligence ▪▪▪▪▪ References ▪▪▪▪▪ Index ▪▪▪▪▪ About the author. 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This work aims to study strategies used in Argentine local development experiences, focussing on industrial design, marketing and entrepreneurship. In order to this purpose, backgrounds are analysed with this approach adding the study of three strategic plans for national and provincial-level that are currently in force. With the analysis of the transport system in the last decade, an accelerated cost increase is evident, resulting in a relatively higher price of distributed products. This situation that was initially perceived as (...) a disadvantage finally set up an opportunity to produce locally. The goal of this paper is to provide tools that contribute to the work shipped by key institutions for local development (public, private and intermediary organisations), and the way these interact with the actors and the territory. In particular, the identification of productive sectors and the selection of goods that can be produced and consumed locally, as a key input for the formulation of projects. (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)

This is a second Philpapers record for this book which links only to HAL's downloadable copies of the work. Please refer to the main Philpapers entry for this book which can be found by searching under the book's title. ●●●●● PLEASE NOTE: This is the corrected 2nd eBook edition, 2021. ●●●●● _Critique of Impure Reason_ has now also been published in a printed edition. To reduce the otherwise high price of this scholarly, technical book of nearly 900 pages and (...) make it more widely available beyond university libraries to individual readers, the non-profit publisher and the author have agreed to issue the printed edition at cost. ●●●●● The printed edition was released on September 1, 2021 and is now available through all booksellers, including Barnes & Noble, Amazon, and brick-and-mortar bookstores under ISBN 978-0-578-88646-6. ●●●●● In light of the length of this book, readers who would like to have a more detailed description of the book's objectives and method may find it helpful to read the detailed and clearly written Wikipedia entry about this work: From the Wikipedia search page, use the search phrase "Critique of Impure Reason". At least at the time of this writing (11/29/2021), the Wikipedia entry is well-researched and accurate. ●●●●● ●●●●● COMMENDATIONS OF THIS WORK, from the back cover of the published edition: ●●●●● “I admire its range of philosophical vision.” – Nicholas Rescher, Distinguished University Professor of Philosophy, University of Pittsburgh, author of more than 100 books. ●●●●● “Bartlett’s _Critique of Impure Reason_ is an impressive, bold, and ambitious work. Careful scholarship is balanced by original analyses that lead the reader to recognize the limits of meaning, knowledge, and conceptual possibility. The work addresses a host of traditional philosophical problems, among them the nature of space, time, causality, consciousness, the self, other minds, ontology, free will and determinism, and others. The book culminates in a fascinating and profound new understanding of relativity physics and quantum theory.” – Gerhard Preyer, Professor of Philosophy, Goethe-University, Frankfurt am Main, Germany, author of many books including _Concepts of Meaning_, _Beyond Semantics and Pragmatics_, _Intention and Practical Thought_, and _Contextualism in Philosophy_. ●●●●● “[This work’s] goal is of a unique and difficult species: Dr. Bartlett seeks to develop a formal logical calculus on the basis of transcendental philosophical arguments; in fact, he hopes that this calculus will be the formal expression of the transcendental foundation of knowledge.... I consider Dr. Bartlett’s work soundly conceived and executed with great skill.” – C. F. von Weizsäcker, philosopher and physicist, former Director, Max-Planck-Institute, Starnberg, Germany. ●●●●● “Bartlett has written an American “Prolegomena to All Future Metaphysics.” He aims rigorously to eliminate meaningless assertions, reach bedrock, and place philosophy on a firm foundation that will enable it, like science and mathematics, to produce lasting results that generations to come can build on. This is a great book, the fruit of a lifetime of research and reflection, and it deserves serious attention.” — Martin X. Moleski, former Professor, Canisius College, Buffalo, NY, studies of scientific method, the presuppositions of thought, and the self-referential nature of epistemology. ●●●●● “Bartlett has written a book on what might be called the underpinnings of philosophy. It has fascinating depth and breadth, and is all the more striking due to its unifying perspective based on the concepts of reference and self-reference.” – Don Perlis, Professor of Computer Science, University of Maryland, author of numerous publications on self-adjusting autonomous systems and philosophical issues concerning self-reference, mind, and consciousness. (shrink)

Food security is one of the major concerns in the Philippines. Although livestock and poultry production accounts for a significant proportion of the country’s agricultural output, smallholder households are still vulnerable to food insecurity. The current study aims to examine how livestock production and selling difficulties affect smallholder households’ food-insecure conditions. For this objective, Bayesian Mindsponge Framework (BMF) analytics was employed on a dataset of the Food and Agriculture Organization’s Data in Emergencies Monitoring (DIEM) system. We found that production (...) and selling difficulties significantly adversely affect food insecurity in the Philippines. However, their effects vary according to the severity of food insecurity. In particular, production and selling difficulties affect the households’ likelihood of eating less healthy and nutritious food equally. However, the production difficulties have more negligible impacts on the possibility of skipping meals and even ambiguous impacts on the likelihood of not eating for a whole day compared to the effects of selling difficulties. Moreover, we also found that the market plays a crucial role in facilitating not only livestock trading but also livestock production (e.g., purchase of feed and medicines). Based on these findings, we suggest that the livestock market needs to be expanded and regulated to maintain the balancing prices between livestock products and products and services used for livestock production, and facilitate the product-exchanging mechanism. (shrink)