The purpose of this book is to trace the main developments in Greek philosophy during the period which runs from the death of Alexander the Great in 323 B.c. to the end of the Roman Republic. These three centuries, known to us as the Hellenistic Age, witnessed a vast expansion of Greek civilization eastwards, following Alexander's conquests; and later, Greek civilization penetrated deeply into the western Mediterranean world assisted by the political conquerors of Greece, the Romans. But philosophy throughout this (...) time remained a predominantly Greek activity. The most influential thinkers in the Hellenistic world were Stoics, Epicureans and Sceptics. This book gives a concise critical analysis of their ideas and their methods of thought. The last book in English to cover this ground was written sixty years ago. In the interval the subject has moved on, quite rapidly since the last war, but most of the best work is highly specialized. There is a clear need for a general appraisal of Hellenistic philosophy which can provide those who are not specialists with an up-to-date account of the subject. Hellenistic philosophy is often regarded as a dull product of second-rate thinkers who are unable to stand comparison with Plato and Aristotle. This book will help to remove such misconceptions and arouse wider interest in a field which is fascinating both historically and conceptually. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:A Leaky Boat Holding Wine: A Study of the Word-Meaning Debate in Wei-Jin Six Dynasties Period Thought by Jing YuanRun Gu (bio)Lou Chuan Zai Jiu: Yanyi zhi Bian yu Wei-Jin Liu Chao Sixiang Xueshu Yangjiu 漏船载酒: 言意之辨与魏晋六朝思想学术研究 (A Leaky Boat Holding Wine: A Study of the Word-Meaning Debate in Wei-Jin Six Dynasties Period Thought). By Jing Yuan 袁晶. Shanghai: Shanghai People's Press, 2022. Pp. 247. Paperback RMB23.93, isbn (...) 978-7-208-17567-9.In A Leaky Boat Holding Wine: A Study of the Word-Meaning Debate in Wei-Jin Six Dynasties Period Thought (hereafter A Leaky Boat Holding Wine), Jing Yuan offers a careful review and critical evaluation of one of the major philosophical topics in the Wei-Jin period, namely, the word-meaning (Yanyi 言意) debate. In several previous publications, Yuan has addressed the word-meaning controversy from different angles and in various classics, including Prajnaparamita and The Analects.The word-meaning debate, as Yuan explains, can be interpreted as a conflict between cognition and expression, and reveals a series of contradictions and conflicts in ontology, epistemology, and philosophy of life among scholars in the Wei-Jin period. The debate refers to the controversy on whether words can fully express meaning or not. It departs from the relationships between word and meaning to critically evaluate their functions and limitations, and mainly consists of two ways of thinking: "distinguishing names, analyzing principles" (bian ming xi li 辯名析理) and "getting the meaning, forgetting the words" (de yi wang yan 得意忘言). Although this debate had already developed in China for quite some time, it was only prevalent as a common philosophical theme in the Wei-Jin period, a time characterized by social disorder and endless war. The metaphor in the book title, "a leaky boat holding wine," is from one of Lu Xun's (1881) poems, illustrating that although people use words as a tool to express meaning, it is impossible for words to convey all meaning. Yuan uses the metaphor to refer to the capacity of a word to carry meaning, and indicates that human thought and expression are inseparable from words, but cannot be entirely restricted to them.The book is organized in chronological order, and readers can easily grasp how the word-meaning debate was developed and reshaped in different periods, responding to various social-political contexts. Chapter 1 starts with the origin of the debate in the early Qin period. The author provides a solid examination of relevant theories and high-quality secondary literature. She clearly demonstrates that both early Daoist and Confucian thinkers were involved in the debate, and [End Page 1] that it aimed to describe a core ontology--or a search for the principles of the cosmos--and understand various other aspects of the world, including natural cycles and social ethics. Confucius advocated a metaphorical grasp of the Dao, transforming epistemology into practical philosophy. He held a critical attitude toward the relationship of word and meaning, arguing that words could express meaning because people could use them to influence the state and society. Confucius also believed that Dao, as an imaginative and contextual concept, could not be expressed through words.In contrast, Zhuangzi--"the most significant source of inspiration for Neo-Daoism (Metaphysics) in the Wei-Jin period" (p. 70)--focuses on the limitations of the function of words to convey meaning, highlighting the ineffable nature of Dao. Zhuangzi's concept of Dao, according to Yuan, is always beyond the reach of our senses and can only be attained through an intuitive grasp of reality: through the ability to reach an epiphany and perceive through the mind, even when not observing through physical means. It is only with an intuitive way of thinking that one can identify the ultimate noumenon and grasp the idea of Dao when words cannot contain it. In Zhuangzi's epistemology, Dao is grasped using a method of knowing that transcends ordinary sense perception, knowledge or rationality, and provides a non-logical intuition and an experience of a practical nature that transcends knowing.On this basis, the author brings together ancient and current research on the word-meaning debate, to critically assess the impact of Zhuangzi... (shrink)

A. A. Long’s study of Greek notions of mind and human selfhood is anchored in questions of universal interest. What happens to us when we die? How is the mind or soul related to the body? Are we responsible for our own happiness? Can we achieve autonomy? Long shows that Greek thinkers’ modeling of the mind gave us metaphors that we still live by.

In his article "Thoughts" (MIND, July 1960) William Ginnane argues that "thought is pure intentionality," and that our thoughts are not embodied essentially in the mental imagery and other elements of phenomenology that cross our minds along with the thoughts. Such images merely illustrate out thoughts. In my discussion I resist this claim pointing out that our thoughts are often embodied in events that can be described in pheno¬menological terms, especially when our reports of our thinking are introduced by the (...) colorful phrases that Ginnane himself suggests, such as "It crossed my mind that.." or "It occurred to me that…" It is true that we also have a mode of speech in which we report what we have thought in well-formed sentences. Sometimes the very utterance of such sentences is what we call thinking out loud. More often than not, however, our thoughts are fragmentary enough so that if someone asks us what we were thinking, we must stop and rather carefully formulate the expression of those thoughts. In this case there has been nothing running through our minds which can be phenomenologically described as complete sentences, yet in formu¬lating the significance of what has been passing through our minds we do use complete sentences. It is true that one of the confusions we have been bothered by in the past is the idea that in describing the contents of our minds we must somehow find there a proto-type of the report we give in propositional form. The philosopher's phrase "entertaining a proposition" only encour¬ages this confusion, as it looks like an attempt to describe one's mental history phenomenologically. Nevertheless, the successive phenomenological events that occur in our minds often seem to be not merely illustrations accompanying our thoughts, but to embody what we say occurred to us. -/- . (shrink)

The German philosopher Peter Sloterdijk seemed to agree with Heidegger’s critique of humanism when he delivered a Conference address at Elmau in 1999. He rejected, however, the way Heidegger used the metaphor of a shepherd to explain the proper essence of the human and developed a counter-position and a contrary understanding of shepherding that he considered truer to contemporary times. During his speech, Sloterdijk used some examples from Plato’s Statesman to support a distinction between good breeding and civility and (...) thus implied that humanistic education had to incorporate efforts to promote biomedical improvements in the human condition, effectively broadening the work of education centred traditionally on the “reading of good books.” Did Sloterdijk then commit himself to some kind of eugenic programme? He immediately denied this. Did his view amount to a logical progression from Heidegger’s position or was it a radical departure? To clarify this question, this paper first sketches out Heidegger’s argument as put forward in the Letter on Humanism, then notes Sloterdijk’s response to Heidegger’s analysis before finally attempting to identify some key differences between these writers on the issue. (shrink)

Mark White has developed a provocative skepticism about antitrust law. I first argue against three claims that are essential to his argument: the state may legitimately constrain or punish only conduct that violates someone’s rights, the market’s purpose is coordinating and maximizing individual autonomy, and property rights should be completely insulated from democratic deliberation. I then sketch a case that persons might have a right to a competitive market. If so, antitrust law does deal with conduct that violates rights. The (...) main thread running throughout the article is that what counts as a legitimate exercise of property rights is dynamic, sensitive to various external conditions, and is the proper object of democratic deliberation. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Philosophy and Rhetoric 34.4 (2001) 292-307 [Access article in PDF] The Rhetoric of the Geometrical Method Spinoza's Double Strategy Christopher P. Long A double strategy may be apprehended in the first definitions, axioms and propositions of Spinoza's Ethics: the one is rhetorical, the other, systematic. Insofar as these opening passages constitute a geometrical argument that leads ultimately to the strict monism that lies at the heart of Spinoza's (...) philosophy, they function systematically as grounding principles. However, insofar as they are designed to uncover errors at the heart of the Cartesian system, they function rhetorically as a critique of Descartes's equivocal theory of substance. The geometrical mode of presentation lends an aura of necessity to the systematic strategy and tends to eclipse the rhetorical strategy that functions as a critique of Cartesian dualism. 1 To this extent, the systematic strategy itself functions rhetorically. On the other hand, to the extent that any seventeenth-century attempt to establish a monistic system would inevitably have had to involve a critique of Cartesian dualism, the rhetorical strategy itself functions systematically. Thus, although two distinct strategies are simultaneously discernible in the opening passages of the Ethics, the two work together, each arguing on a different front, to establish Spinoza's monism. By focusing on the rhetorical side of this double strategy, the underlying nature of Spinoza's critique of Descartes can be clarified and certain gaps in the systematic, geometrical argument for monism can be explained. Descartes's theory of substance The rhetorical strategy Spinoza employs at the outset of the Ethics involves a brilliant use of equivocation and ambiguity designed to draw a reader dedicated to Cartesian dualism into the heart of an argument designed to [End Page 292] undermine this dualism itself. The impetus behind this rhetorical critique is surely Spinoza's dissatisfaction with Descartes's theory of substance. 1. Descartes's equivocation Descartes's theory rests upon a fundamental equivocation: on the one hand, the term "substance" is meant strictly to designate that which is absolutely self-sufficient, namely, God; on the other hand, Descartes allows for a weaker understanding of substance, which pertains to those things (specifically res cogitans and res extensa) that require only the concurrence of God in order to exist (Principles I, 51-52; AT VIIIA24-25). 2 Thus, for Descartes, although God is, strictly speaking, the only substance, there remains a sense in which both res cogitans and res extensa may be understood as substances as well.Ultimately, this equivocal understanding of substance may be traced to a tension internal to Descartes between the Aristotelian notion of substance as underlying subject and the seventeenth-century mutation of that notion, which came to be defined in terms of causal self-sufficiency. 3 Jonathan Bennett traces the source of this mutation back to the view held by Aristotle that the existence of some property depends upon its being instantiated--that is, there can be no courage unless there exists someone courageous. He continues his interesting argument thus: This suggests that there is a relation of dependence running from properties to the things that have them and not conversely. The dependence would be logical: the thesis must be that "existent but uninstantiated property" is conceptually defective, not merely contrary to physics. Thus, one mark of a genuine thing, or substance, is its not being logically dependent for its existence on anything else. (Bennett 1984, 56) The development of this line of thinking leads to the conception of substance we find both in Descartes's Principles and in Spinoza's Ethics, namely, that a substance must not causally depend on anything outside of itself for its existence. 4 However, with Descartes, what emerges out of this tradition is a hybrid understanding of substance in which the term "substance" is not reserved simply for that which is utterly self-sufficient (God), but extends to those things that depend only upon the concurrence of God for their existence (rescogitans and resextensa). This bifurcated understanding of substance seems to stem from the distinction at work in [End Page 293] Aristotle... (shrink)

In his article "Thoughts" (MIND, July 1960) William Ginnane argues that "thought is pure intentionality," and that our thoughts are not embodied essentially in the mental imagery and other elements of phenomenology that cross our minds along with the thoughts. Such images merely illustrate out thoughts. In my discussion I resist this claim pointing out that our thoughts are often embodied in events that can be described in phenomenological terms, especially when our reports of our thinking are introduced by the (...) colorful phrases that Ginnane himself suggests, such as "It crossed my mind that.." or "It occurred to me that…" It is true that we also have a mode of speech in which we report what we have thought in well-formed sentences. Sometimes the very utterance of such sentences is what we call thinking out loud. More often than not, however, our thoughts are fragmentary enough so that if someone asks us what we were thinking, we must stop and rather carefully formulate the expression of those thoughts. In this case there has been nothing running through our minds which can be phenomenologically described as complete sentences, yet in formulating the significance of what has been passing through our minds we do use complete sentences. It is true that one of the confusions we have been bothered by in the past is the idea that in describing the contents of our minds we must somehow find there a proto-type of the report we give in propositional form. The philosopher's phrase "entertaining a proposition" only encourages this confusion, as it looks like an attempt to describe one's mental history phenomenologically. Nevertheless, the successive phenomenological events that occur in our minds often seem to be not merely illustrations accompanying our thoughts, but to embody what we say occurred to us. (shrink)

Can the experience of Icelandic Vikings eight centuries ago teach us a lesson about the dangers of privatization? Jared Diamond thinks so. In his article Living on the Moon ," published in the May 23, 2002, issue of the New York Review of Books , Diamond portrays the history of Iceland in the Viking period as a nightmarish vision of privatization run amuck.

(to table of contents of archives) This talk was delivered at the Auburn Philosophical Society’s Roundtable on Hate, 5 October 2001, convened in response to the September 11 attacks a month earlier. The events of September 11th have occasioned a wide variety of responses, ranging from calls to turn the other cheek, to calls to nuke half the Middle East—and every imaginable shade of opinion in between. At a time when emotions run high, how should we go about deciding on (...) a morally appropriate response? Should we allow ourselves to be guided by our anger, or should we put our anger aside and make an unemotional decision? (shrink)

This book contributes to the 'new view' reading of Adam Smith, providing a historically and contextually rich interpretation of Smith's thought. Smith built a moral philosophy on the foundations of a natural theology of human sociality. Examination of his life, relationship with David Hume, and use of divine names shows that he retained a progressive form of Christian theism. The book interrogates the metaphor of the 'invisible hand' and highlights the importance of the religious dimension of Adam Smith's thought (...) for his moral philosophy, his jurisprudence and his economics. It reflects on the contemporary relevance of a theological reading of Smith and lays the ground for further inquiry between economic and religious perspectives. (shrink)

For more than thirty years, the question of how sentences about God manage to refer has been in the background and often in the foreground of discussions of religious language and metaphysics. In some cases philosophers of religion and theologians have spoken vaguely about or given up all together claims to depict reality in religious discourse. Janet Martin Soskice challenges these views on the grounds that they are rooted in a bankrupt form of empiricism and that they fail to be (...) consistent with the aim of traditional Christian faith to refer to God as a reality. She argues for the necessity of metaphorical language in speaking of God and for a theory of metaphor consistent with critical realism in theology. (shrink)

This study investigated attitudes toward the use of deception in negotiation, with particular attention to the distinction between deception regarding the informational elements of the interaction (e.g., lying about or misrepresenting needs or preferences) and deception about emotional elements (e.g., misrepresenting one's emotional state). We examined how individuals judge the relative ethical appropriateness of these alternative forms of deception, and how these judgments relate to negotiator performance and long-run reputation. Individuals viewed emotionally misleading tactics as more ethically appropriate to (...) use in negotiation than informational deception. Approval of deception predicted negotiator performance in a negotiation simulation and also general reputation as a negotiator, but the nature of these relationships depended on the kind of deception involved. (shrink)

Two themes form the basis for this volume. First, the author argues that the relation between an outer transient nature and an inner eternal nature provides a thread which enables the interpreter to trace a coherent point of view and provide an immanent criticism of Kierkegaard’s pseudonymous texts. Second, he argues that there is a dialectic of self and other running throughout the pseudonymous works which challenges the view that Kierkegaard’s image of the human being is that of a single (...) solitary one. He develops these themes by applying a structural analysis to these works. (shrink)

The main objective of the paper is to propose a frequentist interpretation of probability in the context of model-based induction, anchored on the Strong Law of Large Numbers (SLLN) and justifiable on empirical grounds. It is argued that the prevailing views in philosophy of science concerning induction and the frequentist interpretation of probability are unduly influenced by enumerative induction, and the von Mises rendering, both of which are at odds with frequentist model-based induction that dominates current practice. The differences between (...) the two perspectives are brought out with a view to defend the model-based frequentist interpretation of probability against certain well-known charges, including [i] the circularity of its definition, [ii] its inability to assign ‘single event’ probabilities, and [iii] its reliance on ‘random samples’. It is argued that charges [i]–[ii] stem from misidentifying the frequentist ‘long-run’ with the von Mises collective. In contrast, the defining characteristic of the long-run metaphor associated with model-based induction is neither its temporal nor its physical dimension, but its repeatability (in principle); an attribute that renders it operational in practice. It is also argued that the notion of a statistical model can easily accommodate non-IID samples, rendering charge [iii] simply misinformed. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Philosophy and Rhetoric 33.1 (2000) 96-99 [Access article in PDF] Book Review The Long Path to Nearness: A Contribution to a Corporeal Philosophy of Communication and the Groundwork for an Ethics of Relief The Long Path to Nearness: A Contribution to a Corporeal Philosophy of Communication and the Groundwork for an Ethics of Relief. Ramsey Eric Ramsey. Atlantic Highlands, NJ: Humanities Press, 1998. Pp. xiv + 145. (...) $49.95, cloth. The cryptic title of Ramsey Eric Ramsey's new text creates a very useful metaphor that runs, as a long, sometimes winding, path through the wooded grounds of philosophy, communication, and ethics. The distance of the journey to corporeal communication and an ethics of relief is long in the sense that the journey requires most readers to shed some perceptual baggage as payment for passage. An example of such baggage shedding is Ramsey's effort to "re-call" communication. A valuable section of his work, it elicits an interesting new metaphorical perception of that which we take for granted.The premise that Ramsey works under is an acknowledged one of a critical existential Marxist who is influenced by Martin Heidegger. The additional [End Page 96] frame of this project is Calvin O. Schrag's 1987 book Communication Praxis and the Space of Subjectivity; indeed, Ramsey posits this work as a "building upon" Schrag's contribution. Certainly, in the use and understanding of communicative praxis, Ramsey does extend the work of Schrag. But there is more to Ramsey than new chapters in a story told earlier.Ramsey presents two arguments, along with well-sculpted, carefully detailed supporting premises that make the unfolding an enjoyable process. The issues of The Long Path to Nearness are (1) the neglected body in communication theory, which represents the inescapable contact point with the natural world, and (2) liberation ethics, explicated from an understanding of the absoluteness of uncertainty and the implications of responsibility. The arguments are fashioned around a Heideggerian "being-in-the-world" consciousness, one that, in its essence would presuppose both the body and the other as pretheoretical. Ramsey takes another approach, however, and avoids the transcendental while arguing, in a later context, for the transcendent.The long path begins with a phenomenological explication of the corporeal body, with a frequent and consistent implication of praxis as a sort of journey signpost (50 miles to Dallas... then 40 miles to Dallas, etc.) reminding the reader that practice is essential to the understanding of communication corporeality. In "re-calling" communication, Ramsey defines communication as a dynamic practice that offers possibility, possibility shaped by the binary of active and passive moments. For Ramsey's project, the passive moment is that which represents the material world and the inescapable Dasein that implies the body. Ramsey does not argue for an intercorporeality, choosing instead to imply the concept with a "being-in-the-world-with-other" perspective in the context of the corporeality argument. The active moment is the moment of subjectivity, which represents the consciousness of intentionality. Given Heidegger's definition of logos as "speaking" and Ramsey's professed phenomenological perspective (a study of being as opposed to knowing), possibility for Ramsey represents communication as "being-in-the-world-speaking" through a consciousness of intentionality and a material body presence. This presence in the world is practiced, negotiated, and experienced through communication.Ramsey's argument of possibility is an intricate exploration of the potentiality of horizons that are open-ended, endlessly challenging, and inviting potentiality for an ethics of liberation. Ramsey's explication of possibilities is one of the significant offerings of this effort, and is worth examination on the basis of its nuances and constructions.The overall argument for corporeality will be largely familiar to a European audience immersed in the body politic. This is not to say that the [End Page 97] effort does not offer new and inviting understandings, but rather to suggest that the premises of Ramsey's work best relate to those of continental thought regarding body presence. For those who... (shrink)

Subjective well-being is defined as how happy and satisfied a person is in his life. To date, among the significant determinants of subjective well-being, national income is considered an important one. However, not much focus has been paid to other determinants of subjective well-being, such as education and information and communication technologies. Therefore, this study aims to investigate the short- and long-run impact of education and ICTs on subjective well-being in China over the period 1996–2020. To empirically investigate the (...) nexus, we have employed bounds testing approach to cointegration and error correction modeling. The long-run estimates attached to education are positive and significant, implying that a rise in average years of schooling help increases the level of happiness. However, the long-run estimate attached to the internet is significant and positive in the happiness model. As far as the interaction term between education and the internet is concerned, the estimate is positive and significant. In short-run, the estimates of education, ICTs, and an interaction term between them are also significantly positive. (shrink)

Publication date: 28 April 2021 Source: International Letters of Social and Humanistic Sciences Vol. 90 Author: Sarah Kinya Mburugu Listing of a company in the securities exchange has been observed to be followed by underpricing in the first day and long term period of underperformance in terms of pricing in the subsequent days. Consequently, there has been a considerable curiosity from stakeholders, investors and academics to comprehend the assessments of why companies go public and the issues surrounding the short (...) and long-run performance of newly issued equities. Underpricing is necessary to induce uninformed investors to participate in IPO offering when faced with adverse selection from informed investors. This often leads to first day price not reflecting a fair value of the IPO. The objective of the study was to determine the long-run performance IPOs and effects in the Kenyan stock market for the period 2007-2014. A descriptive survey research design was employed in the study. The population of the study encompassed all the 64 listed companies at the NSE as at 2016. The study employed a non-probability purposive sampling technique. Data collected for this study was secondary data obtained from NSE website, NSE price lists and the Central Bank of Kenya website for the period 2007 to 2014. The data obtained was analyzed using Statistical Package for Social Science. Mean Average Buy and Hold Returns, Abnormal Returns and Cumulative Abnormal Returns were used to calculate the performance of the stocks. T-statistic for CAR was computed to the test for its significance. T-test was conducted at 95% confidence level to find if MABHR and CAR were statistically significant after IPOs announcement. (shrink)

The reasons for assuming an established orthodox Stoic school with scholarchs are considered and refuted. The traditional line of Stoics is a diadochic device to link Panaetius, and later, Posidonius, back to Zeno of Citium, using a chain of teachers and pupils. These Stoics were independent teachers sharing a general worldview but differing to a greater or lesser extent in the details.

This article explores whether and how long-term investors influence non-executive employees’ incentives. While long-term investors benefit from long-term investments that create value over time, employees tend to be averse to long-term investments. We conjecture that long-term investors foster employee-related CSR to motivate employees to engage in long-term investment projects. Consistent with this prediction, we find that long-term investor ownership is a strong driver of employee-related CSR. Additional analyses indicate that this result is not (...) driven by self-selection or reverse causality. We further show that employee-related CSR leads to increased long-term investments (R&D expenses and corporate innovation). Overall, our findings highlight that employee-related CSR is an important channel through which long-term investors encourage long-term investments. (shrink)

This article argues that Lara Buchak’s risk-weighted expected utility (REU) theory fails to offer a true alternative to expected utility theory. Under commonly held assumptions about dynamic choice and the framing of decision problems, rational agents are guided by their attitudes to temporally extended courses of action. If so, REU theory makes approximately the same recommendations as expected utility theory. Being more permissive about dynamic choice or framing, however, undermines the theory’s claim to capturing a steady choice disposition in the (...) face of risk. I argue that this poses a challenge to alternatives to expected utility theory more generally. (shrink)

For beings that have a beginning in time, free will seems impossible, because our choices seem to be a result of past events over which we had no control. Latter-day Saint theology offers what seems a simple solution: the idea that human beings have always existed in the form of spirits or “intelligences.” While this idea solves some key puzzles, contemplating an infinite past also brings the recognition that causal autonomy is not enough for freedom. A crucial feature of humanity (...) is the ability to move beyond past choices and versions of ourselves. Human freedom involves a dynamic process of identification, alienation, and re-identification through which we develop, improve, and mature as agents. Thinking about freedom over the long run, with attention to both the past and the future, casts the traditional debate over free will in a distinctive light, suggesting fresh possibilities. (shrink)

Personalized and continuing relationships play a central role in any society. Economists have built upon the theories of repeated games and reputations to make important advances in understanding such relationships. Repeated Games and Reputations begins with a careful development of the fundamental concepts in these theories, including the notions of a repeated game, strategy, and equilibrium. Mailath and Samuelson then present the classic folk theorem and reputation results for games of perfect and imperfect public monitoring, with the benefit of the (...) modern analytical tools of decomposability and self-generation. They also present more recent developments, including results beyond folk theorems and recent work in games of private monitoring and alternative approaches to reputations. Repeated Games and Reputations synthesizes and unifies the vast body of work in this area, bringing the reader to the research frontier. Detailed arguments and proofs are given throughout, interwoven with examples, discussions of how the theory is to be used in the study of relationships, and economic applications. The book will be useful to those doing basic research in the theory of repeated games and reputations as well as those using these tools in more applied research. (shrink)

This Symposium provides an important opportunity to reflect on the current state of scholarship positioning alternative foods against mainstream agri-food systems. Symposia of this kind have a long tradition as marking particular turning points in agrifood debates. This collection provides an opportunity to examine the current positioning of scholarship around the theoretical and methodological fracture line between successor theories to classical political economy and more post-structuralist approaches to alternative economic activities around food and agriculture. In the current collection, despite (...) clear evidence of theoretical positioning around the structural: post-structural divide, I argue that both aspects of agri-food theorizing share similar political intent and are positioned within the same wider political project of agrifood critique. Therefore, despite theoretical fracture, there is a unity of political intention that continues to bind together this particular field of research and practice. (shrink)

Can it be rational to be risk-averse? It seems plausible that the answer is yes—that normative decision theory should accommodate risk aversion. But there is a seemingly compelling class of arguments against our most promising methods of doing so. These long-run arguments point out that, in practice, each decision an agent makes is just one in a very long sequence of such decisions. Given this form of dynamic choice situation, and the (Strong) Law of Large Numbers, they conclude (...) that those theories which accommodate risk aversion end up delivering the same verdicts as risk-neutral theories in nearly all practical cases. If so, why not just accept a simpler, risk-neutral theory? The resulting practical verdicts seem to be much the same. In this paper, I show that these arguments do not in fact condemn those risk-aversion-accommodating theories. Risk aversion can indeed survive the long run. (shrink)

We clarify the role of the Born rule in the Copenhagen Interpretation of quantum mechanics by deriving it from Bohr's doctrine of classical concepts, translated into the following mathematical statement: a quantum system described by a noncommutative C*-algebra of observables is empirically accessible only through associated commutative C*-algebras. The Born probabilities emerge as the relative frequencies of outcomes in long runs of measurements on a quantum system; it is not necessary to adopt the frequency interpretation of single-case probabilities (which (...) will be the subject of a sequel paper). Our derivation of the Born rule uses ideas from a program begun by Finkelstein (1965) and Hartle (1968), intending to remove the Born rule as a separate postulate of quantum mechanics. Mathematically speaking, our approach refines previous elaborations of this program - notably the one due to Farhi, Goldstone, and Gutmann (1989) as completed by Van Wesep (2006) - in replacing infinite tensor products of Hilbert spaces by continuous fields of C*-algebras. In combination with our interpretational context, this technical improvement circumvents valid criticisms that earlier derivations of the Born rule have provoked, especially to the effect that such derivations were mathematically flawed as well as circular. Furthermore, instead of relying on the controversial eigenvector-eigenvalue link in quantum theory, our derivation just assumes that pure states in classical physics have the usual interpretation as truthmakers that assign sharp values to observables. (shrink)

We study the impact of COVID-19 on Chinese stock market which can be seen as a complex system. We use the event study method to evaluate its performance change in terms of the return rate, turnover rate, etc. We show that the abnormal return of stock market was significantly negative after the outbreak of COVID-19 and did not turn positive until May 2020. Moreover, the five-factor model is used to estimate the ordinary returns of different industries and show that abnormal (...) returns for medical and food industries were significantly positive, while energy and public utility industries had significantly negative abnormal returns which persisted for a long time. COVID-19 had lag effects on clothes industry, finance industry, transportation industry, and IT industry. We also find that energy and finance industries had negative abnormal turnover rates during the sample period, while other industries, such as healthcare and telecommunications service industries, had positive abnormal turnover rates. (shrink)

Purpose: The remarkable increase of sophistication of artificial intelligence in recent years has already led to its widespread use in martial applications, the potential of so-called 'killer robots' ceasing to be a subject of fiction. -/- Approach: Virtually without exception, this potential has generated fear, as evidenced by a mounting number of academic articles calling for the ban on the development and deployment of lethal autonomous robots (LARs). In the present paper I start with an analysis of the existing ethical (...) objections to LARs. -/- Findings: My analysis shows the contemporary thought to be deficient in philosophical rigour, these deficiencies leading to an alternative thesis. (shrink)

This paper investigates the impact of activism on a large, powerful corporation in Tasmania. Gunns Ltd was a large woodchip processor in Tasmania that fought a long-running battle with environmental activists regarding Gunns’ logging and processing activities. The study focuses on events in 2004–2005, when Gunns applied to build a pulp mill in rural northern Tasmania and began a legal case against activists. The research question is whether there is clear statistical evidence that these events were important, as is (...) widely believed, in the ultimate failure of Gunns in, just 6 years after being the largest and one of the most financially successful Tasmanian companies. We use a mixed methods approach that combines a detailed narrative informed by theory, to examine issues of corporate social responsibility and ethical behaviour, with an econometric time series analysis of the impact of activism on the market value of Gunns. Our analysis supports the contention that the events in 2004–2005 played a significant part in the decline of the long-run market value of Gunns over the subsequent period, through to its failure in 2011. We discuss the underlying causes for Gunns’ failure in terms of agency, stakeholder, legitimacy and leadership theories. Research frequently assesses effects such as those in the Gunns’ case through solely qualitative means. This paper integrates a quantitative analysis into a detailed qualitative narrative and theoretical interpretation of events, to provide additional precision to its findings. It contributes to research in CSR and the impact of activism. (shrink)

This highly original book develops a systematic zero-net-profit comparative statics theory of the firm that challenges many widely held views in microeconomics. It builds a bridge between the marginalist long-run theory of the firm and Sraffian theory to create a unified theoretical framework that explains how firms react to exogenous shocks resulting in new equilibrium positions of the whole economy. The central message of the book is that too often economists expect more from the microeconomic laws of input demand (...) and output supply than they can really give. The authors show that the zero-net-profit condition requires a more articulated analysis that sometimes yields qualitative results contrary to those of familiar economic laws. Written for academic researchers and graduate students, the book will be of particular interest to those working on the microeconomics of industry equilibrium, comparative statics and Sraffian economics. (shrink)

When our choice affects some other person and the outcome is unknown, it has been argued that we should defer to their risk attitude, if known, or else default to use of a risk avoidant risk function. This, in turn, has been claimed to require the use of a risk avoidant risk function when making decisions that primarily affect future people, and to decrease the desirability of efforts to prevent human extinction, owing to the significant risks associated with continued human (...) survival. I raise objections to the claim that respect for others’ risk attitudes requires risk avoidance when choosing for future generations. In particular, I argue that there is no known principle of interpersonal aggregation that yields acceptable results in variable population contexts and is consistent with a plausible ideal of respect for others’ risk attitudes in fixed population cases. GPI Working Paper No. 20-2022. (shrink)

The migration of elder-care workers appears to be a zero-sum game. This naturally offends our sense of justice, especially when the host populations are richer. In this article, I argue that we ought to look beyond the short run. Once we look at the long run, we will see possibilities of non-zero-sum games that are mutually beneficial.

When our choice affects some other person and the outcome is unknown, it has been argued that we should defer to their risk attitude, if known, or else default to use of a risk‐avoidant risk function. This, in turn, has been claimed to require the use of a risk‐avoidant risk function when making decisions that primarily affect future people, and to decrease the desirability of efforts to prevent human extinction, owing to the significant risks associated with continued human survival. I (...) raise objections to the claim that respect for others' risk attitudes requires risk‐avoidance when choosing for future generations. In particular, I argue that there is no known principle of interpersonal aggregation that yields acceptable results in variable population contexts and is consistent with a plausible ideal of respect for others' risk attitudes in fixed population cases. (shrink)

Containing nearly all the material which has survived on Kalecki's activity - both theoretical and practical - from 1955 to 1964.