We develop a framework for assessing security market quality, relating five elements of market design to three metrics of market integrity and two metrics of market efficiency. We empirically implement this integrity–efficiency MQ framework by testing a hypothesis that trade-based ramping manipulation at the close raises execution costs on 24 security markets worldwide. Estimating a simultaneous equations model of ramping incidence, spreads, and the probability of deploying real-time surveillance, we show that quoted bid-ask spreads are positively related to the incidence (...) of MTC across seven liquidity deciles. The magnitude is economically significant; improving market integrity by cutting MTC in half reduces spreads 6–11 %. Allowing direct market access in conjunction with RTS, conducting auctions at the close, and developing regulations that require surveillance, all reduce MTC and thereby lower spreads, assuring better market integrity and enhancing market efficiency. Introducing circuit breakers or prohibiting shorts poses integrity–efficiency tradeoffs. (shrink)

Estudio sobre el alcance de la concepción del pensamiento hispanoamericano en José Gaos, en su obra de los años 40. A History of Latin American Philosophy (s. XVI- XIX): / José Gaos (1900-1969).

Continued concern for animal welfare may be alleviated when welfare would be monitored on farms. Monitoring can be characterized as an information system where various stakeholders periodically exchange relevant information. Stakeholders include producers, consumers, retailers, the government, scientists, and others. Valuating animal welfare in the animal-product market chain is regarded as a key challenge to further improve the welfare of farm animals and information on the welfare of animals must, therefore, be assessed objectively, for instance, through monitoring. Interviews with Dutch (...) stakeholder representatives were conducted to identify their perceptions about the monitoring of animal welfare. Stakeholder perceptions were characterized in relation to the specific perspectives of each stakeholder. While producers tend to perceive welfare from a production point of view, consumers will use visual images derived from traditional farming and from the animals’ natural environments. Scientists’ perceptions of animal welfare are affected by the need to measure welfare with quantifiable parameters. Retailers and governments (policy makers) have views of welfare that are derived from their relationships with producers, consumers, non-governmental organizations (NGOs), and scientists. All interviewed stakeholder representatives stated that animal welfare is important. They varied in the extent to which they weighted economic considerations relative to concern for the animals’ welfare. Many stakeholders emphasized the importance of communication in making a monitoring system work. Overall, the perspectives for the development of a sustainable monitoring system that substantially improves farm animal welfare were assessed as being poor in the short term. However, a reliable system could be initiated under certain conditions, such as integrated chains and with influential and motivated stakeholders. A scheme is described with attention points for the development of sustainable monitoring systems for farm animal welfare in the long term. (shrink)

We introduce the notion of a dice model as a framework for describing a class of probabilistic relations. We investigate the transitivity of the probabilistic relation generated by a dice model and prove that it is a special type of cycle-transitivity that is situated between moderate stochastic transitivity or product-transitivity on the one side, and Lukasiewicz-transitivity on the other side. Finally, it is shown that any probabilistic relation with rational elements on a three-dimensional space of alternatives which possesses this particular (...) type of cycle-transitivity, can be represented by a dice model. The same does not hold in higher dimensions. (shrink)

Estudio sobre diferentes aspectos, desde la E. Moderna a la Contemporánea, en el pensamiento de J. Gaos en sus textos de los años 40.

Le temps est un grand maître en médecine. Il fait évoluer la maladie, le malade et sa relation avec le médecin. Il revient à ce dernier d'en prendre la mesure pour la maîtriser et l'exploiter plutôt que de s'en laisser dominer. C'est ce que l'auteur fait approcher par petites touches au fil d'une cinquantaine de réflexions puisées dans son expérience et ses lectures, alimentés de données parfois dérangeantes. Elles doivent aider à gérer une denrée précieuse, d'une manière simple, mais qui (...) ne va pas toujours de soi et peut contredire un bon sens élémentaire. Il en va de la qualité d'une pratique médicale et des satisfactions que patients comme soignants peuvent en retirer, en choisissant plutôt qu'en subissant. (shrink)

Both fairness and efficiency are important considerations in market design and regulation, yet many regulators have neither defined nor measured these concepts. We develop an evidencebased policy framework in which these are both defined and measured using a series of empirical proxies. We then build a systems estimation model to examine the 2003–2011 explosive growth in algorithmic trading on the London Stock Exchange and NYSE Euronext Paris. Our results show that greater AT is associated with increased transactional efficiency and reduced (...) information leakage in top quintile stocks. For less liquid stocks, manipulation at the close declines. We also document the tradeoff between reduced spreads and increased manipulation or information leakage following the introduction of MiFID1. (shrink)

English title: "The early literary education of the young José Gaos in Valencia (1915-1919)"Resumen: Nuestra intención en este texto es investigar acerca de los primeros años de formación del pensamiento de José Gaos (1900-1969); así pues, no parece ser demasiado erróneo pensar que aquél, hacia 1915 no era, aún, puramente “filosófico”: la Filosofía representaba parte de su formación, cumpliendo el mismo papel —eso sí: básico y fundamental— que desempeñó la Literatura. El primer auténtico encuentro con la Filosofía se daría antes (...) de su llegada a Valencia, en ese mismo año de 1915; pero ese también es el año en que Gaos recibirá una sólida formación estético-literaria a través de prensa y revistas filosóficas, especialmente en el grupo que conformó junto con Max Aub, José Medina Echeverría y su hermano Carlos Gaos. Abstract: This paper investigates in detail about the early years of José Gaos (1900-1969) and his education in philosophy and literature. Therefore, we know that their studies (academic or not) were not purely “philosophical” in 1915. Literature and philosophy played in Gaos an equally important role. The first real encounter with philosophy happens before he comes to Valencia in 1915; but in this year Gaos also receives a strong education, in aesthetic and literary, through press and philosophical journals, and especially within the group formed with Max Aub, José Medina Echeverría and his brother Carlos Gaos. Palabras clave: José Gaos, literatura, juventud, formación, Valencia. Keywords: José Gaos, literature, youth, education, Valencia. (shrink)

The Ohio State University Press is to be congratulated, and Lennon and Olscamp are to be thanked for this book. Nicholas Malebranche has always been a major philosopher on the Continent but he has been less well-known in recent times within the English-speaking world. The Search was twice translated into English at the close of the seventeenth century and Malebranche was widely read and commented upon in English in both the seventeenth and eighteenth centuries. John Locke wrote about Malebranche. David (...) Hume not only cites him, Hume's analysis of causation is thought to owe much to Malebranche's doctrine. Some of Berkeley's earliest critics took him to be a Malebranchist. A. A. Luce argued some years ago that Malebranche is one of the most important philosophical influences upon Berkeley. Accordingly it is a delight to have the full text available and I hope it will be possible to produce a paper-back version. This translation is based on the edition of the Oeuvres complètes de Malebranche under the general editorship of André Robinet. This includes definitive editions of the Recherche and the Éclaircissements edited by Geneviève Rodis-Lewis. (shrink)

We introduce two extreme methods to pairwisely compare ordered lists of the same length, viz. the comonotonic and the countermonotonic comparison method, and show that these methods are, respectively, related to the copula T M (the minimum operator) and the Ł ukasiewicz copula T L used to join marginal cumulative distribution functions into bivariate cumulative distribution functions. Given a collection of ordered lists of the same length, we generate by means of T M and T L two probabilistic relations Q (...) M and Q L and identify their type of transitivity. Finally, it is shown that any probabilistic relation with rational elements on a 3-dimensional space of alternatives which possesses one of these types of transitivity, can be generated by three ordered lists and at least one of the two extreme comparison methods. (shrink)

Some strategies to turn any logic into a paraconsistent system are examined. In the environment of universal logic, we show how to paraconsistentize logics at the abstract level using a transformation in the class of all abstract logics called paraconsistentization by consistent sets. Moreover, by means of the notions of paradeduction and paraconsequence we go on applying the process of changing a logic converting it into a paraconsistent system. We also examine how this transformation can be performed using multideductive abstract (...) logics. To conclude, the conceptual notion paraconsistent orbit of a logic is proposed. (shrink)

The expression that professionals should be led by their moral or ethical compass is increasingly used by academics, policy makers, professionals, and educational institutes. Dutch universities of applied sciences (UAS), for example, explicitly aim to educate their students to become professionals equipped with a moral compass. This moral or ethical compass is a metaphor of which people intuitively grasp its meaning, but our literature review also shows that various interpretations are possible. We found three clusters of proposed ethical compasses expressing (...) its a) content, b) form, or c) use, which we present in this article. Thereafter, we evaluate which compass can meaningfully assist (young) professionals and, therefore, should be part of the aims and content of education provided by UAS. Based on this evaluation, we describe the possibilities and boundaries of UAS’ contribution to the development of their students’ ethical compass. (shrink)

One’s first reaction on seeing this book might be to wonder why it is labelled "Aristotle" at all. The de Mundo has long been regarded as spurious, the work of a later Peripatetic, or even of the vaguely Stoicizing eclecticism which was already, in the later Hellenistic period, beginning to see Aristotle and Plato as the proponents of the same philosophy. There has, however, been no general agreement about where precisely in that framework it should be placed, and Reale, who (...) has recently tried, not without success, to rehabilitate Melissus as a serious thinker, now tries to rehabilitate the de Mundo as a genuine work of Aristotle: he thinks the lack of agreement among the critics is itself an argument in its favor. Restoring the original attribution seems to be the main purpose of what is in fact the first full scale edition with commentary of the de Mundo. It contains a text, largely that established by Lorimer, with translation en face, a long introduction, copious notes and a full word index; the text and translation occupy less than a fifth of the whole. As far as a non-Italian can judge the translation is accurate—and free of effusive expansion. The notes are a real mine of information. So it should be said at the start that whether or not one accepts Reale’s thesis about genuineness does not affect the value of the edition as such. The question of authenticity is discussed with great thoroughness in the introduction, with considerable backing, some of it perhaps inevitably repetitious, in the form of detailed discussion in the notes. At the start Reale lists the charges levelled against the work at various times. These are that in general it contains non-Aristotelian elements, that the style is completely different from Aristotle’s, as is the method, being one of assertion rather than demonstration. Further, much of the material in the scientific section is post-Aristotelian, and the "Orphic hymn" of chapter 7 shows Stoic influence. Reale argues that the first three charges will stick only if the basis of discussion is the Aristotle of the treatises and claims that the objectionable material in the de Mundo can be paralleled from the exoteric works. Thus all the pre-Jaeger discussion is misconceived. (shrink)

ObjectivesMany older adults with visual impairment also have significant hearing loss. The aim was to investigate the effectiveness of a newly developed Dual Sensory Loss protocol on communication and wellbeing of older persons with DSL and their communication partners in the Netherlands and Belgium.MethodsParticipants and their communication partners were randomized in the “DSL-protocol” intervention group or a waiting-list control group. The intervention took 3 to 5 weeks. Occupational therapists focused on optimal use of hearing aids, home-environment modifications and effective communication (...) strategies. The primary outcome was the Communication Strategies domain of the Communication Profile for the Hearing Impaired. Secondary outcomes measured in participants were the Low Vision Quality Of Life Adjustment subscale, the Center for Epidemiological Studies - Depression Scale, De Jong Gierveld Loneliness Scale and the Fatigue Assessment Scale. The Hearing Handicap and Disability Inventory - Reaction of Others subscale and the Care-related Quality of Life - 7 Dimensions was measured in communication partners. Measurements were taken at baseline and 3-month follow-up. Linear mixed models were used to analyze effects between groups over time for every outcome measure.ResultsIntention-to-treat analyses showed a significant effect of the DSL-protocol on the use of verbal strategies in favor of the control group, however, this effect was non-significant after adjustment for confounding. Effect sizes of other outcomes varied between −0.23 [−0.57, 0.12] and 0.30 [−0.05, 0.64]. The LMM showed a significant effect on the HHDI-Reaction of others scale in favor of communication partners in the treatment group, however, the effect did not remain significant at a 0.01 significance level and the effect size was very small and non-significant 0.12, 95% CI [−0.27 to 0.51]. Adjusted analyses did not reveal treatment effects.ConclusionThe DSL-protocol did not clearly contribute to the enhancement of communication and wellbeing in DSL-patients. Possible reasons for the lack of effects are OTs not being comfortable giving advice on communication and psychosocial issues or the short-term treatment and follow-up period. Further study is warranted to find out how the protocol may be adapted or whether it is necessary to involve mental healthcare professionals.Clinical Trial Registrationwww.ClinicalTrials.gov, identifier NTR2843. (shrink)

This paper shows how to transform explosive many-valued systems into paraconsistent logics. We investigate mainly the case of three-valued systems exhibiting how non-explosive three-valued logics can be obtained from them.

This paper is an attempt to solve the following problem: given a logic, how to turn it into a paraconsistent one? In other words, given a logic in which ex falso quodlibet holds, how to convert it into a logic not satisfying this principle? We use a framework provided by category theory in order to define a category of consequence structures. Then, we propose a functor to transform a logic not able to deal with contradictions into a paraconsistent one. Moreover, (...) we study the case of paraconsistentization of propositional classical logic. (shrink)

The analysis of the measurement of gravitational fields leads to the Rosenfeld inequalities. They say that, as an implication of the equivalence of the inertial and passive gravitational masses of the test body, the metric cannot be attributed to an operator that is defined in the frame of a local canonical quantum field theory. This is true for any theory containing a metric, independently of the geometric framework under consideration and the way one introduces the metric in it. Thus, to (...) establish a local quantum field theory of gravity one has to transit to non-Riemann geometry that contains (beside or instead of the metric) other geometric quantities. From this view, we discuss a Riemann–Cartan and an affine model of gravity and show them to be promising candidates of a theory of canonical quantum gravity. (shrink)

The hopes and fears expressed in the debate on human enhancement are not always based on a realistic assessment of the expected possibilities. Discussions about extreme scenarios may at times obscure the ethical and policy issues that are relevant today. This paper aims to contribute to an adequate and ethically sound societal response to actual current developments. After a brief outline of the ethical debate concerning neuro-enhancement, it describes the current state of the art in psychopharmacological science and current uses (...) of psychopharmacological enhancement, as well as the prospects for the near future. It then identifies ethical issues regarding psychopharmacological enhancements that require attention from policymakers, both on the professional and on the governmental level. These concern enhancement research, the gradual expansion of medical categories, off-label prescription and responsibility of doctors, and accessibility of enhancers on the Internet. It is concluded that further discussion on the advantages and drawbacks of enhancers on a collective social level is still needed. (shrink)

The analysis of the measurement of gravitational fields leads to the Rosenfeld inequalities. They say that, as an implication of the equivalence of the inertial and passive gravitational masses of the test body, the metric cannot be attributed to an operator that is defined in the frame of a local canonical quantum field theory. This is true for any theory containing a metric, independently of the geometric framework under consideration and the way one introduces the metric in it. Thus, to (...) establish a local quantum field theory of gravity one has to transit to non-Riemann geometry that contains (beside or instead of the metric) other geometric quantities. From this view, we discuss a Riemann–Cartan and an affine model of gravity and show them to be promising candidates of a theory of canonical quantum gravity. (shrink)

Research involving transgender and gender diverse people (TGD) increased in the last years, mostly concerning healthcare associated to this population. Few studies dedicated their analysis to the impact of parental support on transgender people, even though this is an important aspect in creating a safe environment on which these individuals can build their identity. In addition, the link between family support, TGD identity and homelessness is not completely established. Thus, due to the specificities of the family context of TGD individuals, (...) the aim of this study is to investigate the association between family support and TGD in different moments of the process of gender affirmation. In addition, this study also aims to explore the relationship between a lack of social support and low self-esteem, home abandonment, and dwelling in the street. The survey was designed based on the TransPULSE project and was made available in electronic format. The sample was constituted of 423 TGD residents in two Brazilian states. A Structural Equation Model analysis suggested that the impact of gender affirmation status on homelessness was mediated by parental support, through self-esteem, and the need to move from home. The association between the status of the gender affirmation procedures, family support and self-esteem was significant and indicated that the further TGD individuals advanced in gender affirmation, the more self-esteem and family support they would have. The association between family support and self-esteem indicated that family support was associated with higher self-esteem. Low family support was associated with the willingness to move from home due to one’s TGD status and there was also a significant correlation between low self-esteem and the willingness to move from home due to one’s TGD status. Finally, homelessness was associated with the willingness to move with a large effect size. Limitations include the sample that was constituted by individuals with Internet access and who had more contact with TGD communities. The findings indicate directions for interventions involving TGD people and their families, considering the parental relationship as a critical variable to improve TGD quality of life in the process of gender affirmation. (shrink)

Burnout has important ramifications for employees and organizations and preventing burnout forms an ethical issue for managers. However, the role of the leader and especially the role of ethical aspects of leadership have received relatively little attention in relation to burnout to date. We conducted a survey among employees (N = 386) of a Dutch retail organization, nested in 122 teams with a leader. Our first contribution is that we empirically show the hypothesized opposing relationships of ethical and passive leadership (...) behavior with follower burnout. Furthermore, we examined two job characteristics as mechanisms that link these forms of leadership and burnout. Lastly, we show that the positive relationship of ethical leadership with burnout via role clarity (but not overload) is dependent on the degree of passive leadership the leader is perceived to display. Our results suggest that organizations should promote ethical leadership behaviors and limit passive leadership behaviors by stimulating leaders to be active in their role and use their social influence to promote ethical conduct. (shrink)