This paper examines the impact of three culturally endorsed leadership prototypes on bank lending corruption. We bring together studies that approach the corruption of bank lending officers from the perspective of a principal-agent problem and studies from the leadership literature, suggesting leadership as an alternative to contractual solutions to agency problems. We hypothesize, based on these views, that culturally endorsed leadership styles that improve (worsen) the leader-subordinate relationships have a negative (positive) effect on bank lending corruption. Using a sample of (...) around 3,500 firms from 36 countries, we find that the prosocial leadership prototype and the nonautonomous leadership prototype do not matter, whereas the self-serving leadership prototype has a positive and statistically significant effect on bank lending corruption. These findings are robust to the inclusion of various control variables in the regressions, and alternative estimation approaches, including ones that account for endogeneity concerns. Furthermore, we find that the power of bank regulators and the age of the credit information sharing mechanism play a moderating role in the relationship between the self-serving leadership prototype and bank lending corruption. (shrink)

The Republic is the quintessential Platonic dialogue concerning justice and politics. This great ten-book work ends with the Myth of Er. This myth has been a source of controversy throughout history. Some claim Plato wrote it, while others claim it is a forgery. Still others claim it is a lost story saved in the annals of history only by Plato. In response to the limited scholarship about Er, Mr. Chrysovalantis Petridis undertook a painstaking analysis of both the Republic and (...) Er in an attempt to put to rest any debate concerning them. Not only is the myth of Er crucial for understanding the Republic but it also is key to understanding Plato's project in this dialogue. Without the myth, the ideas Plato w anted to impart in this text cannot be fully understood. Er means "Spring" in Ancient Greek, and the Republic contains the secret teachings concerning the dawn of Socratic philosophy: it heralds a new way of thinking. Socratic philosophy has influenced religion, politics and society ever since. Philosophy has come to mean Socratic philosophy, especially for all who subscribe to Plato's way of thinking. The Socratic method is considered the backbone of contemporary education and Plato's Academy the forerunner of current education. Mr. Petridis' book, Plato's Mythologizing the Myth of Er, exposes the themes and ideas brought to life in the Myth of Er. The Republic is of political, social and religious importance and has influenced every way of thinking and discipline since its conception. One cannot fully understand the impact of Plato, Socrates and Aristotle without it. Thus, Mr. Petridis' book may be one of the most important texts written this century concerning Plato's works. It is a must-read for anyone who desires to know Plato or Socrates and understand why their influence has changed and shaped the world ever since. (shrink)

To consider metaphysical claims a priori and devoid of empirical content, is a rather commonplace received opinion. This paper attempts an exploration of a contemporary philosophical heresy: it is possible to test metaphysical claims if they play an indispensable role in producing empirical success, i.e. novel predictions. To do so one, firstly, needs to express the metaphysical claims employed in the logico-mathematical language of a scientific theory, i.e. to explicate them. Secondly, one should have an understanding of what it is (...) to test and to verify or to falsify a metaphysical claim. Finally, one also need to consider the philosophical practice of testing a metaphysical claim. These three aspects are introduced in this paper and they are illustrated by means of the metaphysical concept of common cause and the principle of the common cause. (shrink)

In this paper, we attempt to explicate Salmon’s idea of a causal process, as defined in terms of the mark method, in the context of C*-dynamical systems. We prove two propositions, one establishing mark manifestation infinitely many times along a given interval of the process, and, a second one, which establishes continuous manifestation of mark with the exception of a countable number of isolated points. Furthermore, we discuss how these results can be implemented in the context of the Haag–Araki theories (...) of relativistic quantum fields on Minkowski spacetime. (shrink)

In this paper, I reconstruct an argument of Aristidis Arageorgis against empirical underdetermination of the state of a physical system in a C*-algebraic setting and explore its soundness. The argument, aiming against algebraic imperialism, the operationalist attitude which characterized the first steps of Algebraic Quantum Field Theory, is based on two topological properties of the state space: being T1 and being first countable in the weak*-topology. The first property is possessed trivially by the state space while the latter is highly (...) non-trivial, and it can be derived from the assumption of the algebra of observables’ separability. I present some cases of classical and of quantum systems which satisfy the separability condition, and others which do not, and relate these facts to the dimension of the algebra and to whether it is a von Neumann algebra. Namely, I show that while in the case of finite-dimensional algebras of observables the argument is conclusive, in the case of infinite-dimensional von Neumann algebras it is not. In addition, there are cases of infinite-dimensional quasilocal algebras in which the argument is conclusive. Finally, I discuss Porrmann's construction of a net of local separable algebras in Minkowski spacetime which satisfies the basic postulates of Algebraic Quantum Field Theory. (shrink)

I present two relatively independent sets of remarks on common causes and the violation of Bell inequalities in algebraic quantum field theory. The first set of remarks concerns the possibility of reconciling Reichenbachian ideas on common causes with quantum field theory in the face of an already known difficulty: the event shown to satisfy statistical relations for being the common cause of two correlated events has been associated with the union, rather than the intersection, of the backward light cones of (...) the correlated events. I explore a way of overcoming this difficulty by considering the common cause to be a conjunction of suitably located events. But I show that this line of thought too is beset with interpretational problems. My second set of remarks concerns the type of inequality one may derive from the common-common cause hypothesis: I argue, on grounds of interpretation, that the Clauser-Horne type, and not the Bell type, of inequalities emerge more naturally in this context. (shrink)

In this paper two accounts of Reichenbachian common cause systems are compared. Examples are provided which show that Hofer-Szabó and Rédei account and Hofer-Szabó et al. account is compatible, with but not equivalent, to Mazzola’s. Moreover, the difference of the two accounts with respect to their explanatory adequacy is discussed, in the light of Salmon’s statistical-relevance approach to statistical explanation.

Recently, Clifton and Halvorson have tried to salvage a particle phenomenology in the absence of particle ontology within algebraic relativistic quantum field theory. Their idea is that the detection of a particle is the measurement of a local observable which simulates the measurement of an almost local observable that annihilates the vacuum. In this note, we argue that the measurements local particle detections are supposed to simulate probe radically holistic aspects of relativistic quantum fields. We prove that in an axiomatic (...) (Haag-Araki) quantum field theory on Minkowski spacetime, formulated in a Hilbert space $\mathcal{H}$ , there is no positive observable C, with norm less than or equal to 1, satisfying the conditions: (1) the expectation value of C in the vacuum state Ω is zero, (2) there is at least one vector state Ψ in $\mathcal{H}$ in which the expectation value of C is different from zero, and (3) there exists at least one spacetime region $\mathcal{O}$ such that the non-selective measurement of C leaves the expectation values of all observables in the local algebra of that region unaltered regardless of the state the system is in. The result reveals a tension between intuitions regarding localization and intuitions regarding causality: to save “particle phenomena” in the absence of particle ontology, one has to feign “particle” detectors with “good” properties as to locality but “bad” behavior as to causality. (shrink)

In this work we try to study theories of causation based upon causal processes and causal interactions in the context of classical and quantum physics. Our central aim is to find out whether such causal theories are compatible with the world picture suggested by contemporary theories of physics. In the first part, we review, compare and try to place among more general taxonomical schemes, the causal theories by Russell (the causal lines approach), Reichenbach (mark method, probabilistic causality and the principle (...) of common cause), Salmon (mark method, structure, invariant and conserved quantities approaches) and Dowe (conserved quantity theory). In the second part of the work, we deal with some problems that process theories of causation face whenever one tries to define, rigorously, causal concepts (e.g. “causal process” or “conjunctive common cause”) in the context of classical relativistic physical theories (van Dam – Wigner particle theory, the free Klein-Gordon field, classical electromagnetic theory) as well as quantum theories (algebraic relativistic quantum field theory). In this vein, special attention has been given to the locality problem in physical theories as it emerges from the structure of local classical the quantum theories (semantic locality), the relation between global and local conditions for physical systems (global and local determinism) as well as the problem of action at a distance, which is of central importance for the theories of causation under examination (Bell’s inequalities, EPR paradox, Reeh-Schlieder theorem and local independence conditions). We argue for three different theses: first, there are physical theories in the context of which it is impossible even to formulate the necessary physical hypotheses that allow us to define basic causal concepts and causal principles; second, there are physical theories which allow us to formulate these hypotheses only ad hoc; finally, in some cases it is necessary to revise basic causal principles and concepts bequeathed by the philosophical tradition. (shrink)

In this note, I discuss the simplicity of rival statistical explanations of a correlation, couched in terms of Reichenbachian Common Cause Systems. Simplicity is analyzed in two components, the so-called intrinsic and contextual simplicity. I show that if one disentangles simplicity from explanatory power then the size of the system provides an adequate for simplicity in both of its dimensions.

The Problem of Induction This article discusses the problem of induction, including its conceptual and historical perspectives from Hume to Reichenbach. Given the prominence of induction in everyday life as well as in science, we should be able to tell whether inductive inference amounts to sound reasoning or not, or at least we should be … Continue reading Induction, The Problem of →.

Anything other than paraphrasing the well-known Heraclitean aphorism would not be more appropriate to portray the crux of the contribution of the three philosophers of the Budapest School, Gábor Hofer-Szabó, Miklós Rédei and Lázló E. Szabó, in the ongoing discussion of the principle of the common cause . Indeed, ‘common causes love to hide’ and for that reason critics and aspirant falsifiers of PCC find correlations which, at a first level of analysis, might lack a common cause explanation. But as (...) the authors argue such correlations do not amount to disconfirming evidence for the principle, since PCC does not specify where to search for a common cause of a correlation; it just states that there is one. PCC is neither falsifiable, nor verifiable; it is a metaphysical doctrine that can only be assessed for its plausibility in the light of theories of empirical science. This idea fosters the investigation of the existence of common causes of correlations in two fundamental physical t .. (shrink)