Research has established that exposure to a combination of diagnostic (i.e., relevant) and nondiagnostic (i.e., irrelevant) information results in predictions that are more regressive than predictions based on diagnostic information (Hackenbrack, 1992; Hoffman and Patton, 1997). This phenomenon has been labeled the dilution effect (e.g., Tetlock and Boettger, 1989) and has been documented when individuals make predictions. This study tests for the dilution effect when small groups make predictions, and examines the effect of using a procedure designed to reduce the (...) dilution effect. Results indicate that group predictions are influenced by nondiagnostic information in the same manner as are individual predictions, and allowing participants to rate the diagnosticity of information prior to making predictions does not reduce the dilution effect. (shrink)
This book offers a definitive and wide-ranging overview of developments in behavioral finance over the past ten years. In 1993, the first volume provided the standard reference to this new approach in finance--an approach that, as editor Richard Thaler put it, "entertains the possibility that some of the agents in the economy behave less than fully rationally some of the time." Much has changed since then. Not least, the bursting of the Internet bubble and the subsequent market decline further demonstrated (...) that financial markets often fail to behave as they would if trading were truly dominated by the fully rational investors who populate financial theories. Behavioral finance has made an indelible mark on areas from asset pricing to individual investor behavior to corporate finance, and continues to see exciting empirical and theoretical advances. Advances in Behavioral Finance, Volume II constitutes the essential new resource in the field. It presents twenty recent papers by leading specialists that illustrate the abiding power of behavioral finance--of how specific departures from fully rational decision making by individual market agents can provide explanations of otherwise puzzling market phenomena. As with the first volume, it reaches beyond the world of finance to suggest, powerfully, the importance of pursuing behavioral approaches to other areas of economic life. The contributors are Brad M. Barber, Nicholas Barberis, Shlomo Benartzi, John Y. Campbell, Emil M. Dabora, Daniel Kent, François Degeorge, Kenneth A. Froot, J. B. Heaton, David Hirshleifer, Harrison Hong, Ming Huang, Narasimhan Jegadeesh, Josef Lakonishok, Owen A. Lamont, Roni Michaely, Terrance Odean, Jayendu Patel, Tano Santos, Andrei Shleifer, Robert J. Shiller, Jeremy C. Stein, Avanidhar Subrahmanyam, Richard H. Thaler, Sheridan Titman, Robert W. Vishny, Kent L. Womack, and Richard Zeckhauser. (shrink)
Ethics in business is the most urgent problem facing America today. Now two of the best-selling authors of our time, Kenneth Blanchard and Norman Vincent Peale, join forces to meet this crisis head-on in this vitally important new book. The Power of Ethical Management proves you don't have to cheat to win. It shows today's managers how to bring integrity back to the workplace. It gives hard-hitting, practical, ethical strategies that build profits, productivity, and long-term success. From a straightforward (...) three-step Ethics Check that helps you evaluate any action or decision, to the "Five P's" of ethical behavior that will clarify your purpose and your goals, The Power of Ethical Management gives you an immensely useful set of tools. These can be put to work right away to enhance the performance of your business and to enrich the quality of your life. The Power of Ethical Management is no theoretical treatise Peale and Blanchard speak from their own enormous and unique experience, They reveal the nuts and bolts, practical strategies for ethical decisions that will show you why integrity pays. "So Vince Lombardi was wrong. Winning is not the only thing as headlines and hearings from Wall Street to Washington confirm. Now comes a better game plan from the powerful one-two punch of Ken Blanchard and Norman Vincent Peale in a quickreading new book, The Power of Ethical Management. Peale and Blanchard may be the best thing that has happened to business ethics since Mike Wallace invented 60 Minutes. -- JOHN MACK CARTIER Editor-in-Chief Good Housekeeping. (shrink)
Epistemologists have not usually had much to say about believing ‘in’, though ever since Plato's time they have been interested in believing ‘that’. Students of religion, on the other hand, have been greatly concerned with belief ‘in’, and many of them, I think, would maintain that it is something quite different from belief ‘that’. Surely belief ‘in’ is an attitude to a person, whether human or divine, while belief ‘that’ is just an attitude to a proposition? Could any difference be (...) more obvious than this? And if we over-look it, shall we not be led into a quite mistaken analysis of religious belief, at any rate if it is religious belief of the theistic sort? On this view belief ‘in’ is not a propositional attitude at all. (shrink)
The process of recognition or isolation of one or several entities from among many possible entities is termed intellego perception. It is shown that not only are many of our everyday percepts of this type, but perception of microscopic events using the methods of quantum mechanics are also intellego in nature. Information theory seems to be a natural language in which to express perceptual activity of this type. It is argued that the biological organism quantifies its sensations using an information (...) theoretical measure. This, in turn, sets the stage for a mathematical theory of sensory perception. (shrink)
What is happening to America's favorite national pastime? There seems to be something new afoot with baseball stadiums and the audiences who frequent them. A sense of nostalgia characterizes the creation of many new stadiums in the United States, and it accompanies a change in class among the audiences who fill those stadiums. Together, these two aspects are altering a sport that, in the words of cultural historian David Nasaw, traditionally represented a form of social democracy.1 In contrast, baseball today (...) is transforming itself into a middle- and upper-class pastime for audiences, especially families, willing to spend enormous sums to…. (shrink)
May I first say, Mr Chairman, that I regard it as a great honour to have been invited to take part in this Conference? I speak to you as a philosopher who happens to be interested both in religion and in psychical research. But I am afraid I am going to discuss some questions which it is ‘not done’ to talk about.
This accessible, original book is an exploration of the relevance of classical social theory in the contemporary world. It examines the work of Marx, Weber and Durkheim through the lens of new theoretical issues, such as the role of Empire, the problem of cultural differences, and the possibilities of democracy that are implicit in each theorist's perspective.
This essay is conceived as a critical exposition of the central issues that figure in the ongoing conversation between Logical Positivists and neo Positivists on the one hand and Christian apologists on the other. My expository aim is to isolate and to describe the main issues that have emer ged in the extended discussion between men of Positivistic turn of mind and men sympathetic to the claims of Christianity. My critical aim is to select typical, influential stands that have been (...) taken on each of these issues, to assess their viability, and to isolate certain dilemmas which discussion of these issues has generated. I am convinced that the now commonly rejected verifiability theory of meaning is very commonly misunderstood and has been rejected by and large for the wrong reasons. Before it is cast off-if it is to be cast off-what is needed is a reconsideration of that theory and of the objections that its several formulations have elicited. Furthermore, at least partially because of a misconstruing of the verifiability doctrine, there have been some interesting-though in my opinion unsuccessful-claims advanced about the testability-status of sentences expressive of Christian belief. Moreover, in their haste to vindicate Christianity, some apologists have been fairly cavalier, in my opinion, about what "Christianity" involves. This volume offers what I hope will be a clear statement and analysis of the principle points at issue between Positivism and Christianity, together with my own assessment of where the argument stands now. (shrink)
I am very grateful to Professor R. W. Sleeper for his critical comments on my article, as also for the kind way in which he has expressed them. I should now like to make a few comments on his comments. May I first say that I have no objection to being metaphysical? I do not like the word ‘metaphysics’ very much, and wish that we could find a less provocative one. But still, I do think that the difference between the (...) reducible and the irreducible belief-in is a difference which there really is . Moreover, I fully admit that when we believe in God we are making a factual claim. It is, of course, a factual claim of rather a special kind. If it is a fact that there is a supreme Being, ‘The Lord of All’, this is not just one fact among others. It is not quite like the fact that there is a stormy north-westerly wind this morning. One could not just give a list of facts and add at the end, ‘There is also another fact which I had forgotten to mention: there is a God’. All the same, this factual claim, like others, does need to be justified; and how is it to be justified? I am afraid that the brief hint which I offered elsewhere on this subject is indeed ‘not good enough’ as it stands . To be even half good enough, it needs much more elaboration, and I agree that there is much force in Mr Gunderson's criticisms. (shrink)
With reference to two specific modalities of sensation, the taste of saltiness of chloride salts, and the loudness of steady tones, it is shown that the laws of sensation (logarithmic and power laws) are expressions of the entropy per mole of the stimulus. That is, the laws of sensation are linear functions of molar entropy. In partial verification of this hypothesis, we are able to derive an approximate value for the gas constant, a fundamental physical constant, directly from psychophysical measurements. (...) The significance of our observation lies in the linking of the phenomenon of “sensation” directly to a physical measure. It suggests that if the laws of physics are universal, the laws of sensation and perception are similarly universal. It also connects the sensation of a simple, steady physical signal with the molecular structure of the signal: the greater the number of microstates or complexions of the stimulus signal, the greater the magnitude of the sensation (saltiness or loudness). The hypothesis is currently tested on two sensory modalities. (shrink)
This essay examines the response of Habermas and Giddens to postmodern criticisms of modernity. Although Giddens and Habermas recognize that the "totalizing critique" of poststructuralism lacks a convincing analysis of social interaction, neither of their perspectives adequately addresses the postmodern themes of aesthetics, play, and cultural memory. Giddens and Habermas believe that these dimensions of social life are important; yet they remain underdeveloped in their approaches. This essay explores the theoretical consequences of aesthetics, play, and cultural traditions for social theory, (...) drawing on the pragmatists, the psychoanalyst Winnicott, and early critical theory. The aesthetic and playful moments of experience must be recast in terms of social theory to avoid the solipsism so often characteristic of postmodernism. The essay ends by suggesting how the theories of Habermas and Giddens could benefit by a closer consideration of these issues. (shrink)
Neither Habermas nor his communitarian and poststructuralist critics sufficiently explore the non-linguistic, playful, and performative dimensions of contemporary public spheres. I argue that the approaches of Castoriadis and Touraine can inform a theoretical understanding of the history and current resonance of this public sphere of performance. Their concepts of the social imaginary, the autonomous society, and subjectivation highlight the role of fantasy, images, individualism, and other non-rational factors in late modern public life.
This is a collection of the most important writings of Oxford philosopher H.H. Price on the topics of psychical research and survival of death, collected from a wide variety of sources unavailable to most interested readers. Included are discussions of telepathy, clairvoyance, telekinesis, precognition, hauntings and apparitions, the impact of psychical research on western philosophy and science, and what afterlife is probably like. Few twentieth century English-speaking philosophers have written much on these topics. Of those who did so and (...) whose writings have not been collected and published in a single source, H.H. Price was the most important. (shrink)
Neste artigo, realiza-se uma análise do Nominalismo de Semelhança tal como formulado por Price. Inicialmente, apresento a posição de Price e suas críticas ao Realismo a respeito dos universais. Segundo ele, o Realismo não fornece uma correta explanação da semelhança inexata entre diferentes particulares. A fim de estabelecer a sua posição nominalista, ele se dedica a refutar duas objeções clássicas: o argumento do aspecto e o argumento do regresso. Posteriormente, analiso as principais críticas contra o Nominalismo de (...) class='Hi'>Price: o caráter primitivo da relação de semelhança, o problema do estabelecimento de paradigmas e o problema do regresso. A teoria de Price não é capaz de responder a essas objeções adequadamente. (shrink)
In his article, “The Nature and Possibility of an Environmental Ethics,” Tom Regan says that the fitting attitude toward nature “is one of admiring respect.” What folIows is an attempt to discover what in nature should impel us to respond in this way. Ultimately I argue that the value of wild nature is found in the fact that it has emerged spontaneously, independent of human designs.
It has been 35 years since the publicationMelzack and Wall's Gate Control Theory whichhypothesized that nociceptive information wassubject to dynamic regulation by mechanismslocated in the spinal cord dorsal horn thatcould ultimately lead to hyperalgesic orhypoalgesic states. This paper examines GateControl Theory in light of our currentunderstanding of the neuroanatomical,neurophysiological and neurochemical substratesof nociception and antinociception. Despiteits initial controversies, no one has proposeda more comprehensive overall theory of painmodulation or has successfully refuted most ofthe basic tenets of this theory.
In recent philosophy of mathematics avariety of writers have presented ``structuralist''views and arguments. There are, however, a number ofsubstantive differences in what their proponents take``structuralism'' to be. In this paper we make explicitthese differences, as well as some underlyingsimilarities and common roots. We thus identifysystematically and in detail, several main variants ofstructuralism, including some not often recognized assuch. As a result the relations between thesevariants, and between the respective problems theyface, become manifest. Throughout our focus is onsemantic and metaphysical issues, (...) including what is orcould be meant by ``structure'' in this connection. (shrink)