This paper conducts an ethical analysis of the 2008 closure of a US money market fund entitled the reserve primary fund, which triggered the first run in the money market sector and a resultant liquidity crisis that harmed the entire US financial system. Although many academics and regulators have studied and written about RPF, the question whether the decision that caused the fund to collapse represented any ethical dilemma, has not been addressed to date. With this purpose in mind, the (...) paper will examine the events that culminated in the closure of RPF according to Alasdair MacIntyre’s virtue ethics approach. In so doing, the paper aims to extend the applicability of MacIntyre’s concepts to the finance industry in general, and to provide a framework to predict and so potentially prevent crises like that exemplified by the RPF case. (shrink)

To improve the positioning accuracy of industrial robots and avoid using the coordinates of the end effector, a novel kinematic calibration method based on the distance information is proposed. The kinematic model of an industrial robot is established. The relationship between the moving distance of the end effector and the kinematic parameters is analyzed. Based on the results of the analysis and the kinematic model of the robot, the error model with displacements as the reference is built, which is linearized (...) for the convenience of the following identification. The singular value decomposition is used to eliminate the redundant parameters of the error model. To solve the problem that traditional optimization algorithms are easily affected by data noise in high dimension identification, a novel extended Kalman filter and regularized particle filter hybrid identification method is presented. EKF is used in the preidentification of the linearized error model. With the preidentification results as the initial parameters, RPF is used to identify the kinematic parameters of the linearized error model. Simulations are carried out to validate the effectiveness of the proposed method, which shows that the method can identify the error of the parameters and after compensation the accuracy of the robot is improved. (shrink)

In this paper a system, RPF, of second-order relevance logic with S5 necessity is presented which contains a defined, notion of identity for propositions. A complete semantics is provided. It is shown that RPF allows for more than one necessary proposition. RPF contains primitive syntactic counterparts of the following semantic notions: (1) the reflexive, symmetrical, transitive binary alternativeness relation for S5 necessity, (2) the ternary Routley-Meyer alternativeness relation for implication, and (3) the Routley-Meyer notion of a prime intensional theory, as (...) well as defined syntactic counterparts, of the semantic notions of a possible world and the Routley-Meyer * operator. (shrink)