Results for 'Philipp Daumke'

981 found
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  1. Proceedings of the AMIA Symposium.Stefan Schulz, Philipp Daumke, Barry Smith & Udo Hahn (eds.) - 2005 - American Medical Informatics Association.
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  2. How to Distinguish Parthood from Location in Bioontologies.Stefan Schulz, Philipp Daumke, Barry Smith & Udo Hahn - 2005 - In Stefan Schulz, Philipp Daumke, Barry Smith & Udo Hahn (eds.), Proceedings of the AMIA Symposium. American Medical Informatics Association. pp. 669-673.
    The pivotal role of the relation part-of in the description of living organisms is widely acknowledged. Organisms are open systems, which means that in contradistinction to mechanical artifacts they are characterized by a continuous flow and exchange of matter. A closer analysis of the spatial relations in biological organisms reveals that the decision as to whether a given particular is part-of a second particular or whether it is only contained-in the second particular is often controversial. We here propose a rule-based (...)
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  3. Proceedings of the AMIA Symposium.Schulz Stefan, Daumke Philipp, Smith Barry & Hahn Udo - 2005 - .
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  4.  29
    Phenomenological Approaches to Physics.Harald A. Wiltsche & Philipp Berghofer (eds.) - 2020 - Springer (Synthese Library).
    This book offers fresh perspective on the role of phenomenology in the philosophy of physics which opens new avenues for discussion among physicists, "standard" philosophers of physics and philosophers with phenomenological leanings. Much has been written on the interrelations between philosophy and physics in the late 19th and early 20th century, and on the emergence of philosophy of science as an autonomous philosophical sub-discipline. This book is about the under-explored role of phenomenology in the development and the philosophical interpretation of (...)
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  5.  21
    Rado's Conjecture implies that all stationary set preserving forcings are semiproper.Philipp Doebler - 2013 - Journal of Mathematical Logic 13 (1):1350001.
    Todorčević showed that Rado's Conjecture implies CC*, a strengthening of Chang's Conjecture. We generalize this by showing that also CC**, a global version of CC*, follows from RC. As a corollary we obtain that RC implies Semistationary Reflection and, i.e. the statement that all forcings that preserve the stationarity of subsets of ω1 are semiproper.
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  6. A Robust Governance for the AI Act: AI Office, AI Board, Scientific Panel, and National Authorities.Claudio Novelli, Philipp Hacker, Jessica Morley, Jarle Trondal & Luciano Floridi - manuscript
    Regulation is nothing without enforcement. This particularly holds for the dynamic field of emerging technologies. Hence, this article has two ambitions. First, it explains how the EU´s new Artificial Intelligence Act (AIA) will be implemented and enforced by various institutional bodies, thus clarifying the governance framework of the AIA. Second, it proposes a normative model of governance, providing recommendations to ensure uniform and coordinated execution of the AIA and the fulfilment of the legislation. Taken together, the article explores how the (...)
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  7.  67
    Husserl, the mathematization of nature, and the informational reconstruction of quantum theory.Philipp Berghofer, Philip Goyal & Harald Wiltsche - 2020 - Continental Philosophy Review 54 (4):413-436.
    As is well known, the late Husserl warned against the dangers of reifying and objectifying the mathematical models that operate at the heart of our physical theories. Although Husserl’s worries were mainly directed at Galilean physics, the first aim of our paper is to show that many of his critical arguments are no less relevant today. By addressing the formalism and current interpretations of quantum theory, we illustrate how topics surrounding the mathematization of nature come to the fore naturally. Our (...)
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  8.  16
    Rationality as Situated Inquiry: A Pragmatist Perspective on Policy and Planning Processes.Philipp Dorstewitz & Shyama Kuruvilla - 2007 - Philosophy of Management 6 (1):35-61.
    Rationality bashing has become a popular sport. Critiques have quite rightly challenged models of rational planning that follow a linear progression from predefined ends to achieved goals. There have been several alternative theoretical and empirical developments including incrementalist projects, network theories, critical communication approaches, and heuristic models. Notwithstanding critiques of linear models of policy-making and planning, rationality as a general idea remains an important reference point for designing and evaluating policy-making and for orientating planning projects. We suggest that the concept (...)
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  9. Beyond cognitive myopia: a patchwork approach to the concept of neural function.Philipp Haueis - 2018 - Synthese 195 (12):5373-5402.
    In this paper, I argue that looking at the concept of neural function through the lens of cognition alone risks cognitive myopia: it leads neuroscientists to focus only on mechanisms with cognitive functions that process behaviorally relevant information when conceptualizing “neural function”. Cognitive myopia tempts researchers to neglect neural mechanisms with noncognitive functions which do not process behaviorally relevant information but maintain and repair neural and other systems of the body. Cognitive myopia similarly affects philosophy of neuroscience because scholars overlook (...)
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  10.  79
    The unbearable dispersal of being: Narrativity and personal identity in borderline personality disorder.Philipp Schmidt & Thomas Fuchs - 2020 - Phenomenology and the Cognitive Sciences 20 (2):321-340.
    Borderline personality disorder (BPD) is characterized by severe disturbances in a subject’s sense of identity. Persons with BPD suffer from recurrent feelings of emptiness, a lack of self-feeling, and painful incoherence, especially regarding their own desires, how they see and feel about others, their life goals, or the roles to which they commit themselves. Over the past decade or so, clinical psychologists, psychotherapists, and psychiatrists have turned to philosophical conceptions of selfhood to better understand the borderline-specific ruptures in the sense (...)
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  11.  86
    Music Builds Character. Aristotle, Politics VIII 5, 1340a14–b5.Philipp Brüllmann - 2013 - Apeiron 46 (4):1-29.
    Journal Name: Apeiron Issue: Ahead of print.
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  12. Towards a phenomenological conception of experiential justification.Philipp Berghofer - 2020 - Synthese 197 (1):155-183.
    The aim of this paper is to shed light on and develop what I call a phenomenological conception of experiential justification. According to this phenomenological conception, certain experiences gain their justificatory force from their distinctive phenomenology. Such an approach closely connects epistemology and philosophy of mind and has recently been proposed by several authors, most notably by Elijah Chudnoff, Ole Koksvik, and James Pryor. At the present time, however, there is no work that contrasts these different versions of PCEJ. This (...)
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  13.  62
    The death of the cortical column? Patchwork structure and conceptual retirement in neuroscientific practice.Philipp Haueis - 2021 - Studies in History and Philosophy of Science Part A 85:101-113.
    In 1981, David Hubel and Torsten Wiesel received the Nobel Prize for their research on cortical columns—vertical bands of neurons with similar functional properties. This success led to the view that “cortical column” refers to the basic building block of the mammalian neocortex. Since the 1990s, however, critics questioned this building block picture of “cortical column” and debated whether this concept is useless and should be replaced with successor concepts. This paper inquires which experimental results after 1981 challenged the building (...)
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  14. Dewey's Science: A Transactive Model of Research Processes.Philipp Dorstewitz - 2011 - In Larry A. Hickman (ed.), The continuing relevance of John Dewey: reflections on aesthetics, morality, science, and society. New York, NY: Rodopi. pp. 205--224.
     
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  15. A generalized patchwork approach to scientific concepts.Philipp Haueis - forthcoming - British Journal for the Philosophy of Science.
    Polysemous concepts with multiple related meanings pervade natural languages, yet some philosophers argue that we should eliminate them to avoid miscommunication and pointless debates in scientific discourse. This paper defends the legitimacy of polysemous concepts in science against this eliminativist challenge. My approach analyses such concepts as patchworks with multiple scale-dependent, technique-involving, domain-specific and property-targeting uses (patches). I demonstrate the generality of my approach by applying it to "hardness" in materials science, "homology" in evolutionary biology, "gold" in chemistry and "cortical (...)
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  16.  98
    Scientific perspectivism in the phenomenological tradition.Philipp Berghofer - 2020 - European Journal for Philosophy of Science 10 (3):1-27.
    In current debates, many philosophers of science have sympathies for the project of introducing a new approach to the scientific realism debate that forges a middle way between traditional forms of scientific realism and anti-realism. One promising approach is perspectivism. Although different proponents of perspectivism differ in their respective characterizations of perspectivism, the common idea is that scientific knowledge is necessarily partial and incomplete. Perspectivism is a new position in current debates but it does have its forerunners. Figures that are (...)
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  17. The life of the cortical column: opening the domain of functional architecture of the cortex.Haueis Philipp - 2016 - History and Philosophy of the Life Sciences 38 (3):1-27.
    The concept of the cortical column refers to vertical cell bands with similar response properties, which were initially observed by Vernon Mountcastle’s mapping of single cell recordings in the cat somatic cortex. It has subsequently guided over 50 years of neuroscientific research, in which fundamental questions about the modularity of the cortex and basic principles of sensory information processing were empirically investigated. Nevertheless, the status of the column remains controversial today, as skeptical commentators proclaim that the vertical cell bands are (...)
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  18.  92
    The moral behavior of ethics professors: A replication-extension in German-speaking countries.Philipp Schönegger & Johannes Wagner - 2019 - Philosophical Psychology 32 (4):532-559.
    ABSTRACTWhat is the relation between ethical reflection and moral behavior? Does professional reflection on ethical issues positively impact moral behaviors? To address these questions, Schwitzgebel and Rust empirically investigated if philosophy professors engaged with ethics on a professional basis behave any morally better or, at least, more consistently with their expressed values than do non-ethicist professors. Findings from their original US-based sample indicated that neither is the case, suggesting that there is no positive influence of ethical reflection on moral action. (...)
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  19. .Philipp-Alexander Hirsch - 2017
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  20.  17
    Allocation of COVID-19 vaccination: when public prioritisation preferences differ from official regulations.Philipp Sprengholz, Lars Korn, Sarah Eitze & Cornelia Betsch - 2021 - Journal of Medical Ethics 47 (7):452-455.
    As vaccines against COVID-19 are scarce, many countries have developed vaccination prioritisation strategies focusing on ethical and epidemiological considerations. However, public acceptance of such strategies should be monitored to ensure successful implementation. In an experiment withN=1379 German participants, we investigated whether the public’s vaccination allocation preferences matched the prioritisation strategy approved by the German government. Results revealed different allocations. While the government had top-prioritised vulnerable people (being of high age or accommodated in nursing homes for the elderly), participants preferred exclusive (...)
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  21.  50
    Affective Instability and Emotion Dysregulation as a Social Impairment.Philipp Schmidt - 2022 - Frontiers in Psychology 13.
    Borderline personality disorder is a complex psychopathological phenomenon. It is usually thought to consist in a vast instability of different aspects that are central to our experience of the world, and to manifest as “a pervasive pattern of instability of interpersonal relationships, self-image, and affects, and marked impulsivity” [American Psychiatric Association, 2013, p. 663]. Typically, of the instability triad—instability in self, affect and emotion, and interpersonal relationships—only the first two are described, examined, and conceptualized from an experiential point of view. (...)
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  22. On the Epistemological Similarities of Market Liberalism and Standpoint Theory.Raimund Pils & Philipp Schoenegger - 2021 - Episteme:1-21.
    In this paper, we draw attention to the epistemological assumptions of market liberalism and standpoint theory and argue that they have more in common than previously thought. We show that both traditions draw on a similar epistemological bedrock, specifically relating to the fragmentation of knowledge in society and the fact that some of this knowledge cannot easily be shared between agents. We go on to investigate how market liberals and standpoint theorists argue with recourse to these similar foundations, and sometimes (...)
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  23.  61
    Explainable AI under contract and tort law: legal incentives and technical challenges.Philipp Hacker, Ralf Krestel, Stefan Grundmann & Felix Naumann - 2020 - Artificial Intelligence and Law 28 (4):415-439.
    This paper shows that the law, in subtle ways, may set hitherto unrecognized incentives for the adoption of explainable machine learning applications. In doing so, we make two novel contributions. First, on the legal side, we show that to avoid liability, professional actors, such as doctors and managers, may soon be legally compelled to use explainable ML models. We argue that the importance of explainability reaches far beyond data protection law, and crucially influences questions of contractual and tort liability for (...)
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  24. Husserl’s Conception of Experiential Justification: What It Is and Why It Matters.Philipp Berghofer - 2018 - Husserl Studies 34 (2):145-170.
    The aim of this paper is twofold. The first is an interpretative one as I wish to provide a detailed account of Husserl’s conception of experiential justification. Here Ideas I and Introduction to Logic and Theory of Knowledge: Lectures 1906/07 will be my main resources. My second aim is to demonstrate the currency and relevance of Husserl’s conception. This means two things: Firstly, I will show that in current debates in analytic epistemology there is a movement sharing with Husserl the (...)
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  25.  58
    Why Husserl is a Moderate Foundationalist.Philipp Berghofer - 2018 - Husserl Studies 34 (1):1-23.
    Foundationalism and coherentism are two fundamentally opposed basic epistemological views about the structure of justification. Interestingly enough, there is no consensus on how to interpret Husserl. While interpreting Husserl as a foundationalist was the standard view in early Husserl scholarship, things have changed considerably as prominent commentators like Christian Beyer, John Drummond, Dagfinn Føllesdal, and Dan Zahavi have challenged this foundationalist interpretation. These anti-foundationalist interpretations have again been challenged, for instance, by Walter Hopp and Christian Erhard. One might suspect that (...)
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  26.  18
    The Role of Quantifier Alternations in Cut Elimination.Philipp Gerhardy - 2005 - Notre Dame Journal of Formal Logic 46 (2):165-171.
    Extending previous results from work on the complexity of cut elimination for the sequent calculus LK, we discuss the role of quantifier alternations and develop a measure to describe the complexity of cut elimination in terms of quantifier alternations in cut formulas and contractions on such formulas.
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  27. Evolving Concepts of 'Hierarchy' in Systems Neuroscience.Philipp Haueis & Daniel Burnston - 2020 - In Fabrizio Calzavarini & Marco Viola (eds.), Neural Mechanisms: New Challenges in the Philosophy of Neuroscience. Springer.
    The notion of “hierarchy” is one of the most commonly posited organizational principles in systems neuroscience. To this date, however, it has received little philosophical analysis. This is unfortunate, because the general concept of hierarchy ranges over two approaches with distinct empirical commitments, and whose conceptual relations remain unclear. We call the first approach the “representational hierarchy” view, which posits that an anatomical hierarchy of feed-forward, feed-back, and lateral connections underlies a signal processing hierarchy of input-output relations. Because the representational (...)
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  28. Meeting the brain on its own terms.Philipp Haueis - 2014 - Frontiers in Human Neuroscience 815 (8):86890.
    In contemporary human brain mapping, it is commonly assumed that the “mind is what the brain does”. Based on that assumption, task-based imaging studies of the last three decades measured differences in brain activity that are thought to reflect the exercise of human mental capacities (e.g., perception, attention, memory). With the advancement of resting state studies, tractography and graph theory in the last decade, however, it became possible to study human brain connectivity without relying on cognitive tasks or constructs. It (...)
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  29. Motivating and defending the phenomenological conception of perceptual justification.Philipp Berghofer - 2020 - Inquiry: An Interdisciplinary Journal of Philosophy:1–18.
    Perceptual experiences justify. When I look at the black laptop in front of me and my perceptual experience presents me with a black laptop placed on my desk, my perceptual experience has justificatory force with respect to the proposition that there is black laptop on the desk. The present paper addresses the question of why perceptual experiences are a source of immediate justification: What gives them their justificatory force? I shall argue that the most plausible and the most straightforward answer (...)
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  30.  39
    Exploration, novelty, surprise, and free energy minimization.Philipp Schwartenbeck, Thomas FitzGerald, Raymond J. Dolan & Karl Friston - 2013 - Frontiers in Psychology 4.
  31.  40
    Mechanistic inquiry and scientific pursuit: The case of visual processing.Philipp Haueis & Lena Kästner - 2022 - Studies in History and Philosophy of Science Part A 93 (C):123-135.
    Why is it rational for scientists to pursue multiple models of a phenomenon at the same time? The literatures on mechanistic inquiry and scientific pursuit each develop answers to a version of this question which is rarely discussed by the other. The mechanistic literature suggests that scientists pursue different complementary models because each model provides detailed insights into different aspects of the phenomenon under investigation. The pursuit literature suggests that scientists pursue competing models because alternative models promise to solve outstanding (...)
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  32. What’s up with anti-natalists? An observational study on the relationship between dark triad personality traits and anti-natalist views.Philipp Schönegger - 2022 - Philosophical Psychology 35 (1):66-94.
    In the past decade, research on the dark triad of personality (Machiavellianism, narcissism, and psychopathy) has demonstrated a strong relationship to a number of socially aversive moral judgments such as sacrificial utilitarian decisions in moral dilemmas. This study widens the scope of this research program and investigates the association between dark triad personality traits and anti-natalist views, i.e., views holding that procreation is morally wrong. The results of this study indicate that the dark triad personality traits of Machiavellianism and psychopathy (...)
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  33.  98
    Evaluative experiences: the epistemological significance of moral phenomenology.Philipp Berghofer - 2021 - Synthese 199 (3-4):5747-5768.
    Recently, a number of phenomenological approaches to experiential justification emerged according to which an experience's justificatory force is grounded in the experience’s distinctive phenomenology. The basic idea is that certain experiences exhibit a presentive phenomenology and that they are a source of immediate justification precisely by virtue of their presentive phenomenology. Such phenomenological approaches usually focus on perceptual experiences and mathematical intuitions. In this paper, I aim at a phenomenological approach to ethical experiences. I shall show that we need to (...)
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  34.  76
    The humanities as conceptual practices: The formation and development of high‐impact concepts in philosophy and beyond.Philipp Haueis & Jan Slaby - 2022 - Metaphilosophy 53 (4):385-403.
    This paper proposes an analysis of the discursive dynamics of high-impact concepts in the humanities. These are concepts whose formation and development have a lasting and wide-ranging effect on research and our understanding of discursive reality in general. The notion of a conceptual practice, based on a normative conception of practice, is introduced, and practices are identified, on this perspective, according to the way their respective performances are held mutually accountable. This normative conception of practices is then combined with recent (...)
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  35.  25
    Imagining Social Transformations: Territory Making and the Project of Radical Pragmatism.Philipp Dorstewitz - 2016 - Contemporary Pragmatism 13 (4):361-381.
    Saskia Sassen today and Jane Adams more than 100 years ago are both social scientists and public philosophers of reconstruction. Both offer defining contributions to a philosophical tradition that will be identified here as “radical pragmatism”. Sassen’s theoretical stance “before method” serves as a key to understand Addams’s locally embedded urban activist projects as a form of social scientific inquiry. Sassen introduces the concept of “territory making” as a spark of hope against rampant and destructive global trends of “expulsions”, which (...)
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  36.  92
    Intuitionism in the Philosophy of Mathematics: Introducing a Phenomenological Account.Philipp Berghofer - 2020 - Philosophia Mathematica 28 (2):204-235.
    The aim of this paper is to establish a phenomenological mathematical intuitionism that is based on fundamental phenomenological-epistemological principles. According to this intuitionism, mathematical intuitions are sui generis mental states, namely experiences that exhibit a distinctive phenomenal character. The focus is on two questions: what does it mean to undergo a mathematical intuition and what role do mathematical intuitions play in mathematical reasoning? While I crucially draw on Husserlian principles and adopt ideas we find in phenomenologically minded mathematicians such as (...)
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  37. Imagination Ltd.Philipp Stoellger - 2002 - Ars Disputandi 2:87-13.
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  38.  17
    The Influence of Global Business Regulation: Beyond Good Corporate Conduct.Philipp Pattberg - 2006 - Business and Society Review 111 (3):241-268.
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  39.  13
    Measuring Cultural Dimensions: External Validity and Internal Consistency of Hofstede's VSM 2013 Scales.Philipp Gerlach & Kimmo Eriksson - 2021 - Frontiers in Psychology 12.
    Cross-cultural comparisons often investigate values that are assumed to have long-lasting influence on human conduct and thought. To capture and compare cultural values across cultures, Geert Hofstede's Cultural Dimensions Theory has offered an influential framework. Hofstede also provided a survey instrument, the Values Survey Module (VSM), for measuring cultural values as outlined in his Cultural Dimensions Theory. The VSM has since been subject to a series of revisions. Yet, data on countries have been derived from the original VSM — and (...)
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  40.  12
    Psychological Contract Violation or Basic Need Frustration? Psychological Mechanisms Behind the Effects of Workplace Bullying.Philipp E. Sischka, André Melzer, Alexander F. Schmidt & Georges Steffgen - 2021 - Frontiers in Psychology 12.
    Workplace bullying is a phenomenon that can have serious detrimental effects on health, work-related attitudes, and the behavior of the target. Particularly, workplace bullying exposure has been linked to lower level of general well-being, job satisfaction, vigor, and performance and higher level of burnout, workplace deviance, and turnover intentions. However, the psychological mechanisms behind these relations are still not well-understood. Drawing on psychological contract and self-determination theory (SDT), we hypothesized that perceptions of contract violation and the frustration of basic needs (...)
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  41.  25
    Money is not everything: experimental evidence that payments do not increase willingness to be vaccinated against COVID-19.Philipp Sprengholz, Sarah Eitze, Lisa Felgendreff, Lars Korn & Cornelia Betsch - 2021 - Journal of Medical Ethics 47 (8):547-548.
    Rapid, large-scale uptake of new vaccines against COVID-19 will be crucial to decrease infections and end the pandemic. In a recent article in this journal, Julian Savulescu argued in favour of monetary incentives to convince more people to be vaccinated once the vaccine becomes available. To evaluate the potential of his suggestion, we conducted an experiment investigating the impact of payments and the communication of individual and prosocial benefits of high vaccination rates on vaccination intentions. Our results revealed that none (...)
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  42.  3
    The philosophy of Leo Strauss: culture, religion, and the political.Philipp von Wussow - 2020 - Albany: SUNY Press.
    This archive-based study of the philosophy of Leo Strauss provides in-depth interpretations of key texts and their larger theoretical contexts.
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  43. Modern Science and Its Philosophy.Philipp Frank - 1951 - British Journal for the Philosophy of Science 2 (6):168-169.
     
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  44.  64
    The Relevance of Explanatory First-Person Approaches (EFPA) for Understanding Psychopathological Phenomena. The Role of Phenomenology.Philipp Schmidt - 2018 - Frontiers in Psychology 9.
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  45.  67
    Ethik und Naturphilosophie: Bemerkungen zu Aristoteles' Ergon-Argument (EN I 6).Philipp Brüllmann - 2012 - Archiv für Geschichte der Philosophie 94 (1):1-30.
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  46.  78
    Transcendental Phenomenology and Unobservable Entities.Philipp Berghofer - 2017 - Perspectives 7 (1):1-13.
    Can phenomenologists allow for the existence of unobservable entities such as atoms, electrons, and quarks? Can we justifiably believe in the existence of entities that are in principle unobservable? This paper addresses the relationship between Husserlian transcendental phenomenology and scientific realism. More precisely, the focus is on the question of whether there are basic epistemological principles phenomenologists are committed to that have anti-realist consequences with respect to unobservable entities. This question is relevant since Husserl’s basic epistemological principles, such as the (...)
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  47.  25
    Structural reflection, shrewd cardinals and the size of the continuum.Philipp Lücke - 2022 - Journal of Mathematical Logic 22 (2).
    Journal of Mathematical Logic, Volume 22, Issue 02, August 2022. Motivated by results of Bagaria, Magidor and Väänänen, we study characterizations of large cardinal properties through reflection principles for classes of structures. More specifically, we aim to characterize notions from the lower end of the large cardinal hierarchy through the principle [math] introduced by Bagaria and Väänänen. Our results isolate a narrow interval in the large cardinal hierarchy that is bounded from below by total indescribability and from above by subtleness, (...)
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  48.  25
    Distal and non-distal pairs.Philipp Hieronymi & Travis Nell - 2017 - Journal of Symbolic Logic 82 (1):375-383.
    The aim of this note is to determine whether certain non-o-minimal expansions of o-minimal theories which are known to be NIP, are also distal. We observe that while tame pairs of o-minimal structures and the real field with a discrete multiplicative subgroup have distal theories, dense pairs of o-minimal structures and related examples do not.
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  49.  35
    The Legitimacy of Loan Maturity Mismatching: A Risky, but not Fraudulent, Undertaking.Philipp Bagus & David Howden - 2009 - Journal of Business Ethics 90 (3):399-406.
    Barnett and Block (Journal of Business Ethics, 2009 ) attack the heart of modern banking by claiming that the practice of borrowing short and lending long is illicit. While their claim of illegitimacy concerning fractional reserve banking can be defended, their justification lacks substance. Their claim is herein strengthened by a legal analysis of deposits and loans based on Huerta de Soto (Money, Bank Credit and Economic Cycles, 2006 ). A combined legal and economic analysis shows that while lending deposits (...)
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  50.  24
    Some ethical dilemmas of modern banking.Philipp Bagus & David Howden - 2013 - Business Ethics: A European Review 22 (3):235-245.
    How ethical have recent banking practices been? We answer this question via an economic analysis. We assess the two dominant practices of the modern banking system – fractional reserves and maturity transformation – by gauging the respective rights of the relevant parties. By distinguishing the legal and economic differences between deposit and loan contracts, we determine that the practice of maturity transformation (in its various guises) is not only ethical but also serves a positive social function. The foundation of the (...)
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