Executives of many publicly held firms agree to compensation packages that create immense exposure to their employer’s stock. Corporate boards, aspiring to motivate executives to make value-maximizing decisions, often tie an executive’s earnings to stock price performance through stock or option awards. However, this engenders a significant ethical dilemma for many executives who are uncomfortable with sizable, firm-specific risk and desire to reduce it through hedging activities. Recent research has shown that executive hedging has become more prevalent. In essence, managers (...) are unwinding the acute economic incentive to act in the best interest of the owners. This appears to violate the spirit of the compensation contract and from a normative standpoint, is not how executives should act. In this article, we describe how some executives are acting in regard to this issue (descriptive ethics), how they should act (normative ethics) and how they can be helped to get from what they are doing, to what they should be doing (prescriptive ethics). (shrink)

Securities lending has been a lucrative business for mutual funds and exchange-traded funds over the past decade. Unfortunately for investors, the sponsors of these funds have not been very transparent with the details of their securities lending programs, and consequently most investors in these funds are unaware of their exposure to the risks inherent in securities lending. Interestingly, most funds do not return the full profits from securities lending activities to their investors. In this paper, we examine and discuss the (...) ethical considerations related to the securities lending activities of mutual funds and ETFs and offer a series of best practices that we believe will provide better transparency of these activities to fund investors. (shrink)

African Philosophy is a collection of previously unpublished essays that address epistemological and metaphysical concerns that have emerged from the sub-Saharan regions of Africa. The primary focus of the book is on traditional African conceptions of mind, person, personal identity, truth, knowledge, understanding, objectivity, and reality. The collection also discusses traditional African conceptions of causation, destiny, and free will.

Although there are compelling reasons for believing otherwise, compassion cannot provide a basis for grounding a viable theory of civil and political society. Firstly, it is often irrational or personally irresponsible to be compassionate. Secondly, relations based on compassion do not require characteristics that are essential for a viable civil and political society. Thirdly, the unpredictable consequences of compassion are such that compassion alone is not sufficient for grounding a viable civil and political society. Finally, obligating people to be compassionate (...) is antithetical to what is required for being compassionate. (shrink)

In 2011, when Judith Butler delivered the lecture series that would become Notes Toward a Performative Theory of Assembly, the speech act theorist joined other critical scholars attempting to work through the dark cloud of neoliberal fatigue settling over the humanities. “Identitarian ontologies” had become only more entrenched in the age of terror, any potential alternatives seeming destined for “discursive appropriation” by the insidious vocabulary of late biopolitical capitalism. Fatigued, but not yet resigned, Notes sets out “to rethink the speech (...) act”, not to discover something else to say or some other way to say it but instead to take seriously what Butler described more than a... (shrink)

Questions concerning the moral status of embryos, the validity of new technologies for human reproduction, ownership of one's own genes, gene patenting, privacy and discrimination have all been raised and debated. Although debate is healthy, it is only useful if all participants understand the fundamental biological principles underlying human life, human genes and human parenthood. Many people believe that science can play no role in determining when human life begins. I argue that this false assumption is based on a failure (...) to separate different contradictory meanings of the term ‘human life’. In actuality, science has provided great insight into when and how human life and human beings come into existence. I argue as well that, contrary to our intuitive feelings, there is no physical connection between any father and his son; shared genes represent shared information and nothing more. Nevertheless, the feeling of a physical connection between parent and child is very real and instinctive, no matter how false it may be. These new understandings have profound ramifications for the way we treat issues surrounding human reproduction, including both abortion and assisted reproductive technologies. (shrink)

The discovery, more than 60 years ago, of a mutant mouse with a short tail led to the birth of the new field of developmental genetics. Over the years since, numerous investigators have probed the biology of the original short‐tail mutation at the T locus, as well the naturally‐occurring t haplotypes that were uncovered as a result of their interaction with this mutation. Although the T locus ranks among the best characterized developmental loci in the mouse, it was not among (...) the first to be cloned. This situation has now been rectified with two recent reports from Herrmann, Lehrach and their colleagues. While the T locus is expressed uniquely in the embryonic tissues predicted from the mutant phenotype, the gene itself, as well as the predicted amino acid sequence of the T product, show no strong homology to any known sequence. For the moment, at least, the mystery behind the function of the T locus still awaits definitive resolution. (shrink)

In this paper I will discuss three areas in which advances in human reproductive technology could occur, their uses and abuses, and their effects on society. First is the potential to drastically increase the success rate and availability of in vitro fertilization and embryo freezing. Second is the ability to perform biopsies on embryos prior to the onset of pregnancy. Finally, I will consider the adding or altering of genes in embryos, commonly referred to as genetic engineering.As new reproductive technologies (...) pass from experimental models into the potential for medical utilization, I believe that it will be important for lawmakers everywhere to avoid the impulse to outlaw procedures that a society believes to be unnatural at a first glance. Rather, I would hope that they can respond thoughtfully with legislation that serves two purposes — to protect the rights of couples to overcome infertility or to reduce the risk of genetic disease in their children-to-be, and more importantly, to protect children-to-be from the abuses that could result from some of the practices that I will discuss. (shrink)

ABSTRACT While claiming to be a much-needed corrective to the dual disappointments of structuralism and post-structuralism, one is starting to get the sense that affect may have simply inverted, rather than resolved, the binary of form/feeling. Yet emerging within and against the affective turn is a re-turn to structure as the condition of possibility for affectivity. From this re-turn, which I'll term affective formalism, is culled the transdisciplinary exemplars reviewed here: Ruth Leys's The Ascent of Affect, Gary Genosko's Critical Semiotics, (...) Eugenie Brinkema's The Forms of the Affects, with a nod to Eve Sedgwick's Touching Feeling. Far from caging affect, these new books suggest a return to form, once again, with feeling. (shrink)

In 2011, when Judith Butler delivered the lecture series that would become Notes Toward a Performative Theory of Assembly, the speech act theorist joined other critical scholars attempting to work through the dark cloud of neoliberal fatigue settling over the humanities. “Identitarian ontologies” had become only more entrenched in the age of terror, any potential alternatives seeming destined for “discursive appropriation” by the insidious vocabulary of late biopolitical capitalism. Fatigued, but not yet resigned, Notes sets out “to rethink the speech (...) act”, not to discover something else to say or some other way to say it but instead to take seriously what Butler described more than a... (shrink)

This introduction to the Journal of Business Research special issue on anti-consumption briefly defines and highlights the importance of anticonsumption research, provides an overview of the latest studies in the area, and suggests an agenda for future research on anti-consumption.

Problems in peer review, the backbone of maintaining high standards in scientific publishing, have led to wide spread discontent within the scientific community. Training in the peer review process and a simpler format to assist in decision making are possible courses to improve and expedite the process of peer review and scientific publishing. The authors discuss problems in the peer review process focusing on challenges related to major revisions and reviewer's wish list of experiments; this leads to the loss of (...) time and money. Major revisions rarely lead to significant improvements, while simultaneously delay the dissemination of knowledge. The authors propose simple solutions including training peer reviewers to improve the peer review system. (shrink)

Adaptive mutation is defined as a process that, during nonlethal selections, produces mutations that relieve the selective pressure whether or not other, nonselected mutations are also produced. Examples of adaptive mutation or related phenomena have been reported in bacteria and yeast but not yet outside of microorganisms. A decade of research on adaptive mutation has revealed mechanisms that may increase mutation rates under adverse conditions. This article focuses on mechanisms that produce adaptive mutations in one strain of Escherichia coli, FC40. (...) These mechanisms include recombination-induced DNA replication, the placement of genes on a conjugal plasmid, and a transient mutator state. The implications of these various phenomena for adaptive evolution in microorganisms are discussed. BioEssays 22:1067–1074, 2000. © 2000 John Wiley & Sons, Inc. (shrink)

Ormerod and Chronicle reported that optimal solutions to traveling salesperson problems were judged to be aesthetically more pleasing than poorer solutions and that solutions with more convex hull nodes were rated as better figures. To test these conclusions, solution regularity and the number of potential intersections were held constant, whereas solution optimality, the number of internal nodes, and the number of nearest neighbors in each solution were varied factorially. The results did not support the view that the convex hull is (...) an important determinant of figural attractiveness. Also, in contrast to the findings of Ormerod and Chronicle, there were consistent individual differences. Participants appeared to be divided as to whether the most attractive figure enclosed a given area within a perimeter of minimum or maximum length. It is concluded that future research in this area cannot afford to focus exclusively on group performance measures. (shrink)

The larval arms of echinoid plutei are used for locomotion and feeding. They are composed of internal calcite skeletal rods covered by an ectoderm layer bearing a ciliary band. Skeletogenesis includes an autonomous molecular differentiation program in primary mesenchyme cells (PMCs), initiated when PMCs leave the vegetal plate for the blastocoel, and a patterning of the differentiated skeletal units that requires molecular cues from the overlaying ectoderm. The arms represent a larval feature that arose in the echinoid lineage during the (...) Paleozoic and offers a subject for the study of gene co-option in the evolution of novel larval features. We isolated new molecular markers in two closely related but differently developing species, Heliocidaris tuberculata and Heliocidaris erythrogramma. We report the expression of a larval arm-associated ectoderm gene tetraspanin, as well as two new PMC markers, advillin and carbonic anhydrase. Tetraspanin localizes to the animal half of blastula stage H. tuberculata and then undergoes a restriction into the putative oral ectoderm and future location of the postoral arms, where it continues to be expressed at the leading edge of both the postoral and anterolateral arms. In H. erythrogramma, its expression initiates in the animal half of blastulae and expands over the entire ectoderm from gastrulation onward. Advillin and carbonic anhydrase are upregulated in the PMCs postgastrulation and localized to the leading edge of the growing larval arms of H. tuberculata but do not exhibit coordinated expression in H. erythrogramma larvae. The tight spatiotemporal regulation of these genes in H. tuberculata along with other ontogenetic and phylogenetic evidence suggest that pluteus arms are novel larval organs, distinguishable from the processes of skeletogenesis per se. The dissociation of expression control in H. erythrogramma suggest that coordinate gene expression in H. tuberculata evolved as part of the evolution of pluteus arms, and is not required for larval or adult development. (shrink)

In 1970, Jacque Monod, a Nobel Laureate and a founding father of molecular biology, wrote a short celebrated book entitled Chance and Necessity.

On Sunday morning, 23 February 1997, the world awoke to a technological advance that shook the foundations of biology and philosophy. On that day, we were introduced to Dolly, a 6-month-old lamb that had been cloned directly from a single cell taken from the breast tissue of an adult donor. Perhaps more astonished by this accomplishment than any of their neighbors were the scientists who actually worked in the field of mammalian genetics and embryology. Outside the lab where the cloning (...) had actually taken place, most of us thought it could never happen. Oh, we would say that perhaps at some point in the distant future, cloning might become feasible through the use of sophisticated biotechnologies far beyond those available to us now. But what many of us really believed, deep in our hearts, was that this was one biological feat we could never master. New lifemust have its origins in an embryo formed through the merger of gametes from a mother and father. It was impossible, we thought, for a cell from an adult mammal to become reprogrammed, to start all over again, to generate another entire animal or person in the image of the one born earlier. (shrink)

Walter Savage Landor's exasperated marginal comment on line 13 of Horace, C. 1. 4 has sent modern commentators scurrying to the poem's defence. The skirmish has been won for Horace, but at the expense perhaps of magnifying the importance of line 13: A. Y. Campbell insisted that pallida mors, far from being irrelevant, was ‘the focus of the whole poem’.

For the 17 centuries since Hippocrates called for “the most desperate remedies in desperate cases,” physicians have adhered steadfastly to two cooperative goals: to prolong life and to relieve suffering. ut during the past 50 years, mechanical interventions at the edge of life have thrown those aims into dramatic conflict. Cardiopulmonary resuscitation, mechanical ventilation, feeding tubes, and the intensive care unit have postponed physiologic death for many patients who are anencephalic, comatose, or in a persistent vegetative state or prefer death (...) to a life of suffering and pain. Demands from patients' families and cries for social justice have compelled physicians, hospital personnel, and the Supreme Court to analyze concepts long reserved for university philosophers. Although decisions are made daily to withhold and withdraw life support, society is gradually agreeing upon an ethical framework that balances hopeful science with dignified death. This article outlines that ethical framework, reviews recent legal precedents, and suggests practical guidelines for their application. (shrink)

Previous research has shown that the qualities of nuptial gifts among nonhumans and marriage-related property transfers in human societies such as bridewealth and dowry covary with aspects of mate quality. This article explores this issue for another type of marriage-related property transfer: engagement rings. We obtained data on engagement ring costs and other variables through a mail survey sent to recently married individuals living in the American Midwest. This article focuses on survey responses regarding rings that were purchased by men (...) acting alone and using only their own funds who then presented the rings while making surprise proposals of marriage (n = 127). Men marrying younger women spent more on rings, as did men who earned more money and whose fiancées earned more money. These findings suggest that the amounts spent on engagement rings, like bridewealth and dowry payments in other societies, reflect aspects of both male and female mate quality. (shrink)

A situated agent is one which operates within an environment. In most cases, the environment in which the agent exists will be more complex than the agent itself. This means that an agent, human or artificial, which wishes to carry out non-trivial operations in its environment must use techniques which allow an unbounded world to be represented within a cognitively bounded agent. We present a brief description of some important theories within the fields of epistemology and metaphysics. We then discuss (...) ways in which philosophical problems of scepticism are related to the problems faced by knowledge representation. We suggest that some of the methods that philosophers have developed to address the problems of epistemology may be relevant to the problems of representing knowledge within artificial agents. (shrink)

A situated agent is one which operates within an environment. In most cases, the environment in which the agent exists will be more complex than the agent itself. This means that an agent, human or artificial, which wishes to carry out non-trivial operations in its environment must use techniques which allow an unbounded world to be represented within a cognitively bounded agent. We present a brief description of some important theories within the fields of epistemology and metaphysics. We then discuss (...) ways in which philosophical problems of scepticism are related to the problems faced by knowledge representation. We suggest that some of the methods that philosophers have developed to address the problems of epistemology may be relevant to the problems of representing knowledge within artificial agents. (shrink)

“What is the structure of thought?” is as central a question as any in cognitive science. A classic answer to this question has appealed to a Language of Thought (LoT). We point to emerging research from disparate branches of the field that supports the LoT hypothesis, but also uncovers diversity in LoTs across cognitive systems, stages of development, and species. Our letter formulates open research questions for cognitive science concerning the varieties of rules and representations that underwrite various LoT-based systems (...) and how these variations can help researchers taxonomize cognitive systems. (shrink)