Public companies in the US stock market must annually report their activities and financial performances to the SEC by filing the so-called 10-K form. Recent studies have demonstrated that changes in the textual content of the corporate annual filing can convey strong signals of companies’ future returns. In this study, we combine natural language processing techniques and network science to introduce a novel 10-K-based network, named Lazy Network, that leverages year-on-year changes in companies’ 10-Ks detected using a neural network embedding (...) model. The Lazy Network aims to capture textual changes derived from financial or economic changes on the equity market. Leveraging the Lazy Network, we present a novel investment strategy that attempts to select the least disrupted and stable companies by capturing the peripheries of the Lazy Network. We show that this strategy earns statistically significant risk-adjusted excess returns. Specifically, the proposed portfolios yield up to 95 basis points in monthly five-factor alphas, outperforming similar strategies in the literature. (shrink)

Bird argues that scientific progress consists in increasing knowledge. Dellsén objects that increasing knowledge is neither necessary nor sufficient for scientific progress, and argues that scientific progress rather consists in increasing understanding. Dellsén also contends that unlike Bird’s view, his view can account for the scientific practices of using idealizations and of choosing simple theories over complex ones. I argue that Dellsén’s criticisms against Bird’s view fail, and that increasing understanding cannot account for scientific progress, if acceptance, as opposed to (...) belief, is required for scientific understanding. (shrink)

Many realists argue that present scientific theories will not follow the fate of past scientific theories because the former are more successful than the latter. Critics object that realists need to show that present theories have reached the level of success that warrants their truth. I reply that the special theory of relativity has been repeatedly reinforced by unconceived scientific methods, so it will be reinforced by infinitely many unconceived scientific methods. This argument for the special theory of relativity overcomes (...) the critics’ objection, and has advantages over the no-miracle argument and the selective induction for it. (shrink)

This study aims to examine whether recent educational attempts to prepare students for the future can open up the future, using South Korea’s ‘high school credit system’ as an example. To provide differentiated instruction that recognizes differences and maximizes students’ potential, the Korean government recently launched a ‘high school credit system.’ The primary goal of this system is to assist students in identifying their strengths and interests, selecting courses for them to pursue, and following their plans independently. The system appears (...) to respect each student’s unique personality and value the self-dominance of the liberating subject. Ironically, however, it expects students to map their lives according to ‘given’ or molar identitarian categories for self-formation, thereby representing already constructed life forms. It subjugates students’ potential by linking subjective formation to society’s dominant codes and deploying the forged self within existing social structures. To avoid limiting students’ potential, it is essential to refrain from defining ‘the self’ as a given and fixed construct and restricting education solely to courses that match its current characteristics. Education for a future should promote a flexible educational journey that accommodates changes in interests and passions as they evolve over time. (shrink)

Scientific realists argue that present theories are more successful than past theories, so present theories will not be superseded by alternatives, even though past theories were superseded by alternatives. Alai (2016) objects that although present theories are more successful than past theories, they will be replaced by future theories, just as past theories were replaced by present theories. He contends, however, that past theories were partly true, and that present theories are largely true. I argue that Alai’s discrimination between past (...) and present theories is subject to his own criticism against realists’ discriminations between past and present theories, and also subject to other criticisms that philosophers have raised against scientific realism and pessimism. (shrink)

Change in scientific practice and its implications for the status of scientific claims, examined through an analysis of three episodes at a synchrotron laboratory. After World War II, particle physics became a dominant research discipline in American academia. At many universities, alumni of the Manhattan Project and of Los Alamos were granted resources to start programs of high-energy physics built around the promise of a new and more powerful particle accelerator, the synchrotron. The synchrotron was also a source of very (...) intense X-rays, useful for research in solid states physics and in biology. As synchrotron X-ray science grew, the experimental practice of protein crystallography, garnered funding, prestige, and acclaim. In Velvet Revolution at the Synchrotron, Park Doing examines the change in scientific practice at a synchrotron laboratory as biology rose to dominance over physics. He draws on his own observations and experiences at the Cornell University synchrotron, and considers the implications of that change for the status of scientific claims. Velvet Revolution at the Synchrotron is one of the few recent works in the sociology of science that engages specific scientific and technical claims through participant observation--recorded evocatively and engagingly--to address issues in the philosophy of science. Doing argues that bureaucratic change in science is neither "top-down" nor "bottom-up" but rather performed in and realized through recursively related forums of technical assertion and resistance. He considers the relationship of this change to the content of science, and the implications of this relationship for the project of laboratory studies begun in the late 1970s. (shrink)

A scientific theory is successful, according to Stanford (2000), because it is suficiently observationally similar to its corresponding true theory. The Ptolemaic theory, for example, is successful because it is sufficiently similar to the Copernican theory at the observational level. The suggestion meets the scientific realists' request to explain the success of science without committing to the (approximate) truth of successful scientific theories. I argue that Stanford's proposal has a conceptual flaw. A conceptually sound explanation, I claim, respects the ontological (...) order between properties. A dependent property is to be explained in terms of its underlying property, not the other way around. The applicability of this point goes well beyond the realm of the debate between scientific realists and antirealists. Any philosophers should keep the point in mind when they attempt to give an explanation of a property in their field whatever it may be. (shrink)

Philosophy claims that its goal is to search for truth. The history of philosophy, however, demonstrates that this search for truth has not been free from the power dynamics of respective eras. In this article, I claim that the formation of modern East Asian philosophy is one occasion in which the power structure of the time was visibly reflected. The East–West power imbalance at the beginning of the modern period was both implicitly and explicitly imbedded in the formation of modern (...) Buddhist philosophy in East Asia. To demonstrate this point, I will examine the life and thought of two East Asian Buddhist thinkers, Paek Sŏnguk 白性郁 and Inoue Enryō 井上円了, as paradigmatic examples of... (shrink)

In this essay, I attempt to outline a feminist philosophical approach to the current debate concerning (allegedly) false memories of childhood sexual abuse. Bringing the voices of feminist philosophers to bear on this issue highlights the implicit and sometimes questionable epistemological, metaphysical, and ethical-political commitments of some therapists and scientists involved in these debates. It also illuminates some current debates in and about feminist philosophy.

Chinese culture is distinguished among the world’s other great traditions by the depth and intensity of its love for rock and stone. This enduring passion manifests itself both in the art of garden making, where rocks form the frame and the central focus of the classical Chinese garden, and also on a smaller scale, in the practice of collecting stones to be displayed on trays or on scholars’ desks indoors. This essay sketches a brief history of lithophilia in China, then (...) adduces the most important philosophical presuppositions for it, and concludes by suggesting some implications for our experience of, and interactions with, the realm of stone and rock. (shrink)

Among scientific realists and anti-realists, there is a well-known, perennial dispute about the reality and knowability of unobservable objects. This dispute is also present among structural realists, who all agree that science gives us genuine knowledge of structure at the unobservable level (however that structure may be understood). Ontic structural realists reduce or eliminate the ontological role of objects, while epistemic structural realists argue that objects do or might exist but are unknowable. In part because ontic structural realism has some (...) evidence from quantum mechanics and the consequent underdetermination of the metaphysics of objects in its favor, the majority of contemporary structural realists adopt that view. In contrast, I argue that epistemic structural realism is a highly compelling view, particularly in the form that remains agnostic about unobservable objects. This view can remain consistent with the empirical data from quantum mechanics, can give a satisfactory account of the metaphysics of structure, and can distinguish itself from other extant versions of realism. I provide two arguments in favor of agnosticism about objects, the first of which argues that suspending belief is consistent with the impetus of naturalized metaphysics, and the second of which argues that agnosticism about objects is a rational response to reflection on the limits and aims of science. Thus, I show that agnostic epistemic structural realism is a defensible and compelling view in the philosophy of science that demands more attention in the literature. (shrink)

It has often been suggested that people's ordinary understanding of morality involves a belief in objective moral truths and a rejection of moral relativism. The results of six studies call this claim into question. Participants did offer apparently objectivist moral intuitions when considering individuals from their own culture, but they offered increasingly relativist intuitions considering individuals from increasingly different cultures or ways of life. The authors hypothesize that people do not have a fixed commitment to moral objectivism but instead tend (...) to adopt different views depending on the degree to which they consider radically different perspectives on moral questions. (shrink)

This essay expounds on Raphael Cohen-Almagor’s recent book, Confronting the Internet’s Dark Side, Moral and Social Responsibility on the Free Highway, and advocates placing narrow limitations on hate speech posted to social media websites. The Internet is a limitless platform for information and data sharing. It is, in addition, however, a low-cost, high-speed dissemination mechanism that facilitates the spreading of hate speech including violent and virtual threats. Indictment and prosecution for social media posts that transgress from opinion to inciteful hate (...) speech are appropriate in limited circumstances. This article uses various real-world examples to explore when limitations on Internet-based hate speech are appropriate. In October 2015, twenty thousand Israelis joined a civil lawsuit filed against Facebook in the Supreme Court for the State of New York. Led by the civil rights organization, Shurat HaDin, the suit alleges Facebook allows Palestinian extremists to openly recruit and train terrorists to plan violent attacks calling for the murder of Israeli Jews through their Facebook pages. The suit raises important questions, amongst them: When should the government initiate similar suits to impose criminal sanctions for targeted hate speech posted to Facebook? What constitute effective restrictions on social media that also balance society’s need for robust dialogue and free communication, subject to limitations reflecting a need for order and respect among people? Our essay progresses in four stages. First, we examine philosophical origins of free speech and the historical foundations of free speech in the United States. Second, we provide an overview of American free speech jurisprudence. Third, we address particular jurisprudence that provides a framework for imposing limitations on free speech in the context of social media. American history and jurisprudence embrace free speech as a grounding principle of democracy, yet simultaneously subject speech to limitations. Finally, through a comparative exploration of real-world examples, we address the narrow instance when limitations on inciteful and targeted hate speech are appropriate. (shrink)

Despite worldwide efforts to reduce the consumption of tobacco, legislative and educational measures have failed to eradicate the practice of cigarette smoking. Indeed, in many populations, particularly in the developing world, its prevalence is increasing. Consequently were alternative strategies to become available to address the problem, they would deserve serious consideration. One potential strategy which may become a real possibility in the future might be the vaccination of children against the pleasurable effects of nicotine. Were such a vaccine to become (...) available, children who had been inoculated would be less likely to start smoking, and even if they did, would be able to quit more easily. However, as Hasman and Holm discussed, vaccinating against a behavior rather than a disease is not ethically unproblematic, and they concluded that inoculation of infants and young children with a permanently effective nicotine conjugate vaccine should not take place, as it robbed children of the right to a smoking future. In this article, I will re-evaluate some of their arguments, and will conclude that in fact the private and public goods that inoculation with a ‘smoking vaccine’ would produce, outweigh the possible impingements on future autonomy that may result from such vaccination programme. (shrink)

Human microbiome research makes causal connections between entire microbial communities and a wide array of traits that range from physiological diseases to psychological states. To evaluate these causal claims, we first examine a well-known single-microbe causal explanation: of Helicobacter pylori causing ulcers. This apparently straightforward causal explanation is not so simple, however. It does not achieve a key explanatory standard in microbiology, of Koch’s postulates, which rely on manipulations of single-microorganism cultures to infer causal relationships to disease. When Koch’s postulates (...) are framed by an interventionist causal framework, it is clearer what the H. pylori explanation achieves and where its explanatory strengths lie. After assessing this ‘simple’, single-microbe case, we apply the interventionist framework to two key areas of microbiome research, in which obesity and mental health states are purportedly explained by microbiomes. Despite the experimental data available, interventionist criteria for explanation show that many of the causal claims generated by microbiome research are weak or misleading. We focus on the stability, specificity and proportionality of proposed microbiome causal explanations, and evaluate how effectively these dimensions of causal explanation are achieved in some promising avenues of research. We suggest some conceptual and explanatory strategies to improve how causal claims about microbiomes are made. (shrink)

Human microbiome research makes causal connections between entire microbial communities and a wide array of traits that range from physiological diseases to psychological states. To evaluate these causal claims, we first examine a well-known single-microbe causal explanation: of Helicobacter pylori causing ulcers. This apparently straightforward causal explanation is not so simple, however. It does not achieve a key explanatory standard in microbiology, of Koch’s postulates, which rely on manipulations of single-microorganism cultures to infer causal relationships to disease. When Koch’s postulates (...) are framed by an interventionist causal framework, it is clearer what the H. pylori explanation achieves and where its explanatory strengths lie. After assessing this ‘simple’, single-microbe case, we apply the interventionist framework to two key areas of microbiome research, in which obesity and mental health states are purportedly explained by microbiomes. Despite the experimental data available, interventionist criteria for explanation show that many of the causal claims generated by microbiome research are weak or misleading. We focus on the stability, specificity and proportionality of proposed microbiome causal explanations, and evaluate how effectively these dimensions of causal explanation are achieved in some promising avenues of research. We suggest some conceptual and explanatory strategies to improve how causal claims about microbiomes are made. (shrink)

The status of abduction is still controversial. When dealing with abductive reasoning misinterpretations and equivocations are common. What did Peirce mean when he considered abduction both a kind of inference and a kind of instinct or when he considered perception a kind of abduction? Does abduction involve only the generation of hypotheses or their evaluation too? Are the criteria for the best explanation in abductive reasoning epistemic, or pragmatic, or both? Does abduction preserve ignorance or extend truth or both? To (...) study some of these conundrums and to better understand the concept of visual abduction, I think that an interdisciplinary effort is needed, at the same time fecundated by a wide philosophical analysis. To this aim I will take advantage of some reflections upon Peirce’s philosophy of abduction that I consider central to highlight the complexity of the concept, too often seen in the partial perspective of limited formal and computational models. I will ponder over some seminal Peircean philosophical considerations concerning the entanglement of abduction, perception, and inference, which I consider are still important to current cognitive research. Peircean analysis helps us to better grasp how model-based, sentential, manipulative, and eco-cognitive aspects of abduction—I have introduced in my book Abductive Cognition —have to be seen as intertwined, and indispensable for building an acceptable integrated model of visual abduction. Even if speculative, Peircean philosophical results on visual abduction certainly anticipate various tenets of recent cognitive research. (shrink)

It has often been suggested that people’s ordinary folk understanding of morality involves a rejection of moral relativism and a belief in objective moral truths. The results of six studies call this claim into question. Participants did offer apparently objectivist intuitions when confronted with questions about individuals from their own culture, but they offered increasingly relativist intuitions as they were confronted with questions about individuals from increasingly different cultures or ways of life. In light of these data, the authors hypothesize (...) that people do not have a fixed commitment to moral objectivism but instead tend to adopt different views depending on the degree to which they consider radically different perspectives on moral questions. [NOTE: This is a reprint of Sarkissian et al 2011]. (shrink)

This chapter explains the screening‐off rule in the psychological laboratory. The Markov assumption states that any variable in a set is independent in probability of all its ancestors in the set conditional on its own parents. The screening‐off rule is also critical to allow Bayes nets to make an inference of the state of an unknown variable in a causal structure from the states of other variables in that structure. The chapter examines which causal representations people use to make predictions (...) and whether people conform to the screening‐off rule with respect to a causal model they have in mind. It analyzes what leads them to modify their causal model and whether or not people are causally oriented when making predictions. Making probability judgments is hard and requires careful deliberation. People are capable of such deliberation although they avoid it until they cannot, until the facts require more careful thought. (shrink)

In their recent article, Erbay et al considered whether a seriously injured patient should be able to refuse treatment if the refusal was based on a (mis)interpretation of religious doctrine. They argued that in such a case ‘what is important…is whether the teaching or philosophy used as a reference point has been in fact correctly perceived’ (p 653). If it has not been, they asserted that this eroded the patient's capacity to make an autonomous decision and that therefore, in such (...) cases, it is the role of the healthcare professional (HCP) to ‘assist patients to think more clearly and rationally’ (p 653). There are, however, a number of problems with the reasons why Erbay et al suggest we should help patients to rationalise their decisions and how HCPs should go about this. In this article, the author explores some of their main arguments regarding consent and rationality (particularly in relation to religious beliefs), as well as Erbay et al's normative claim that HCPs have an obligation to promote autonomy by helping patients to come to a ‘rational’ decision. Ultimately, the author agrees that the (temporary) solution to the dilemma presented in this scenario (which was to insert an intravenous cannula into the patient in order to allow an infusion of fluids in the event that he changed his mind) seemed both pragmatic and ethically permissible. However, it is suggested that the arguments which underpin this conclusion in Erbay et al's article are largely unsound. (shrink)