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)

Tolerance is not, as is often thought, an attribute of urbanity that can be equated with other similar values, such as politeness. Nor is it - or at least it should not be - considered the oil that facilitates the smooth functioning of the engine of human desires, in spite of their differences of opinion. Rather, true tolerance takes root in the same soil as human rights. And this root is at the same time shared by liberty and truth. It (...) is an untamed, barely diplomatic, root, burrowing deep in the soil of an absolute demand. (shrink)

The theoretical and philosophical assumptions underlying our psychological practices greatly affect the ways that clinicians in the mental health field go about their work and to some extent how successful at it they are. This paper attempts to illustrate this by describing how a careful and systematic look at the underlying philosophical presuppositions surrounding the concept of transference yielded clear clinical benefits to my own practice of psychotherapy. More specifically, by contrasting the philosophical paradigm implied in the classical definitions of (...) transference with that of an alternative, phenomenologically-based model my understandings of the clinical phenomena in question were allowed to develop in new ways--ones which feel truer to the actual experiences in question and ultimately more helpful. 2012 APA, all rights reserved). (shrink)

There is great interest in understanding whether and how mood influences affective processing. Results in the literature have been mixed: some studies show mood-congruent processing but others do not. One limitation of previous work is that decision components for affective processing and responses biases are not dissociated. The present study explored the roles of affective processing and response biases using a drift-diffusion model of simple choice. In two experiments, participants decided if words were emotionally positive or negative while listening to (...) music that induced positive or negative mood. The behavioural results showed weak, inconsistent mood-congruency effects. In contrast, the DDM showed consistent effects that were selectively driven by an a-priori bias in response expectation, suggesting that music-induced mood influences expectations about the emotionality of upcoming stimuli, but not the emotionality of the stimuli themselves. Implications for future studies of emotional classification and mood are subsequently discussed. (shrink)

(1890). MASHONALAND AND MATABELELAND.—FACTS AND FIGURES. Transactions of the South African Philosophical Society: Vol. 8, No. 1, pp. 16-22.

This paper discusses identification and estimation of causal intensive margin effects. The causal intensive margin effect is defined as the treatment effect on the outcome of individuals with a positive outcome irrespective of whether they are treated or not, and is of interest for outcomes with corner solutions. The main issue is to deal with a potential selection problem that arises when conditioning on positive outcomes. We propose using difference-in-difference methods - conditional on positive outcomes - to estimate causal intensive (...) margin effects. We derive sufficient conditions under which the difference-in-difference estimator identifies the causal intensive margin effect. We apply the methodology to estimate the causal intensive margin effect of reaching the full retirement age on working hours. (shrink)

Philosophers of well-being have tended to adopt a foundationalist approach to the question of theory and measurement, according to which theories are conceptually before measures. By contrast, social scientists have tended to adopt operationalist commitments, according to which they develop and refine well-being measures independently of any philosophical foundation. Unfortunately, neither approach helps us overcome the problem of coordinating between how we characterize well-being and how we measure it. Instead, we should adopt a coherentist approach to well-being science.

Generating an account that can sidestep the disagreement among substantive theories of well-being, while at the same time still providing useful guidance for well-being public policy, would be a significant achievement. Unfortunately, the various attempts to remain agnostic regarding what constitutes well-being fail to either be an account of well-being, provide useful guidance for well-being policy, or avoid relying on a substantive well-being theory. There are no theory-free lunches in well-being policy. Instead, I propose an intermediate account, according to which (...) well-being is constituted by endorsed veridical experiences. This account refers back to theories of well-being but does so as agnostically as possible. An intermediate account of well-being is meant as a policy guiding compromise between the different theories of well-being that make claims regarding what constitutes well-being. An intermediate account does as well as can be hoped for in providing a basis for well-being policy. (shrink)

It is an open question whether well-being ought to primarily be understood as a temporal concept or whether it only makes sense to talk about a person’s well-being over their whole lifetime. In this article, I argue that how this principled philosophical disagreement is settled does not have substantive practical implications for well-being science and well-being policy. Trying to measure lifetime well-being directly is extremely challenging as well as unhelpful for guiding well-being public policy, while temporal well-being is both an (...) adequate indirect measure of lifetime well-being, and an adequate focus for the purposes of improving well-being through public policy. Consequently, even if what we ought to care about is lifetime well-being, we should use temporal measures of well-being and focus on temporal well-being policies. (shrink)

This article explores the ethical dilemmas of doing a feminist ethnography of gender and Holocaust memory. In response to the conflicts the author experienced as both a participant/jewish woman and an observer/feminist ethnographer, she engaged in a critical examination of her research methods and goals that led to an exploration into the complex moral issues that inform research on women and genocide specifically and feminist ethnographies of violence more generally. Drawing on her fieldwork at Holocaust sites in Eastern Europe, she (...) identified three sources of methodological tension that developed during the research process: Role conflicts in the research setting, gender selectivity in studies of ethnic and racial violence, and the sexual objectification of women in academic discourse on violence and genocide. Each of these ethical tensions is examined from the standpoint of research on gender and the Holocaust. (shrink)

Spoofing is the act of placing orders to buy or sell a financial contract without the intention to have those orders fulfilled in order to create the impression that there is a large demand for that contract at that price. In this article, I deny the view that spoofing in financial markets should be viewed as morally permissible analogously to the way bluffing is permissible in poker. I argue for the pro tanto moral impermissibility of spoofing and make the case (...) that spoofing is disanalogous from bluffing in at least one important regard—speculative trading serves an important economic role, whereas poker does not. (shrink)

Policy-makers sometimes aim to improve well-being as a policy goal, but to do this they need some way to measure well-being. Instead of relying on potentially problematic theories of well-being to justify their choice of well-being measure, Daniel Hausman proposes that policy-makers can sometimes rely on preference-based measures as evidence for well-being. I claim that Hausman’s evidential account does not justify the use of any one measure more than it justifies the use of any other measure. This leaves us at (...) a loss as to which policy should be chosen in the non-trivial cases for which there is substantial disagreement between the different measures in their assessment of policy. (shrink)

Many philosophers reject the view that well-being over a lifetime is simply an aggregation of well-being at every moment of one's life, and thus they reject theories of well-being like hedonism and concurrentist desire satisfactionism. They raise concerns that such a view misses the importance of the relationships between moments in a person's life or the role narratives play in a person's well-being. In this article, we develop an atomist meta-theory of well-being, according to which the prudential value of a (...) life depends solely on the prudential value of each moment of that life. This is a general account of momentary well-being that can capture different features of well-being that standard atomistic accounts fail to capture, thus allowing for the possibility of an atomism that is compatible with a variety of well-being theories. Contrary to many criticisms leveled against momentary well-being, this well-being atomism captures all of the important features of well-being. (shrink)

in recent years, policy makers have shown increasing interest in implementing policies aimed at promoting individual well-being. But how should policy makers choose their well-being policies? a seemingly reasonable first step is to settle on an agreed-upon definition of well-being. yet there currently is significant disagreement on how well-being ought to be characterized, and agreement on the correct view of well-being does not appear to be forthcoming. Nevertheless, i argue in this paper that there are several reasons to think that (...) the domain of well-being in the public policy context is narrower than that of well-being in general, which makes agreement on how to understand well-being in the public policy context more likely. (shrink)

According to what I call the ‘argument from public bads’, if a researcher deceived subjects in the past, there is a chance that subjects will discount the information that a subsequent researcher provides, thus compromising the validity of the subsequent researcher’s experiment. While this argument is taken to justify an existing informal ban on explicit deception in experimental economics, it can also apply to implicit deception, yet implicit deception is not banned and is sometimes used in experimental economics. Thus, experimental (...) economists are being inconsistent when they appeal to the argument from public bads to justify banning explicit deception but not implicit deception. (shrink)

Fessard, G. Jeanne Hersch, genèse d'une œuvre.--Muralt, A. de. Phénoménologie et métaphysique.--Philonenko, A. Leibniz et le platonisme.--Christoff, D. Représentation et décision dans la temporalité selon Kant.--Tilliette, X. De l'illusion au savoir, la philosophie.--Widmer, G. Variations kierkegaardiennes sur l'édifiant.--Dufour-Kowalska, G. L'imagination maîtresse de vérité.--Leyvraz, J.-P. Des noms.--Piguet, J.-C. Liberté esthétique et liberté éthique.--Schaerer, R. Le philosophe entre oui et non.--Scheurer, P.-B. Vues nouvelles sur la science du temps et l'histoire.--Starobinski, J. La littérature et l'irrationnel.--Aron, R. De la libéralisation.--Werner, E. La (...) digue et la vie.--Cottier, G. La fascination du vide, éléments pour un diagnostic. (shrink)

In book II of Plato’s Republic, Socrates discusses the cities of necessity and luxury (372d-373a). Discussions of these cities have often focused on citizens desiring more than they need, which creates a demand for luxury. Yet the second part of the equation, which is not usually recognized, is that there must be sufficient supply to meet this demand. The focus of this article is on the importance of supply in the discussion of the first two cities in book II of (...) the Republic. This article argues that the way Plato models the cities makes it the case that a surplus above levels of necessity will be generated from time to time. That the unwanted surplus cannot be spontaneously disposed of entails that the first two cities are institutionally incomplete. A government is needed in order to coordinate the disposal of the surplus supply the city will produce. (shrink)

Some advances in bioethics regarding ethical considerations that arise in the context of medical research can also be relevant when thinking about the ethical considerations that arise in the context of SoTL research. In this article, I aim to bring awareness to two potential ethical challenges SoTL researchers might face when playing a dual role of teacher and researcher that are similar to the challenges physicians face in their dual role of physician and researcher. In this article, I argue that (...) two commonly discussed concerns in bioethics---the need for clinical equipoise and the possibility of a therapeutic misconception---have analogies when conducting some types of research on students. I call these counterparts educational equipoise and the educational misconception. (shrink)

Alasdair MacIntyre argues that moral virtues are antithetical to what is required of those who trade in financial markets to succeed. MacIntyre focuses on four virtues and argues that successful traders possess none of them: (i) self-knowledge, (ii) courage, (iii) taking a long-term perspective, and (iv) tying one’s own good with some set of common goods. By contrast, I argue that (i)–(iii) are, in fact, traits of successful traders, regardless of their normative assessment. The last trait – caring about the (...) common good – is often counterproductive in most for-profit ventures, including trading, and so singling out traders is inappropriate. (shrink)

In this paper we discuss James Buchanan’s contribution in the narrow domain of understanding committee voting under majority rule. We then go on to discuss Charles Plott’s seminal experimental work on the topic that sparked a wave of public choice experimental work. However, given Plott’s claims that Buchanan influenced him significantly, it is puzzling that his work with Morris Fiorina explores a question outside of those which Buchanan and Tullock found interesting. We suggest several ways to resolve this tension. Our (...) chapter concludes by discussing a lacuna in the experimental public choice literature in which Buchanan was particularly interested—logrolling, or vote trading. (shrink)