It is an important issue for economic and finance applications to determine whether individuals exhibit a behavioral bias toward pessimism in their beliefs, in a lottery or more generally in an investment opportunities framework. In this paper, we analyze the answers of a sample of 1,540 individuals to the following question “Imagine that a coin will be flipped 10 times. Each time, if heads, you win \documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$10\texttt{C}\!\!\!\rule[2.3pt]{.4em}{.3pt}\!\!\rule[3.3pt]{.4em}{.3pt}$$\end{docum ent}. How many times do you (...) think that you will win?” The average answer is surprisingly about 3.9 which is below the average 5, and we interpret this as a pessimistic bias. We find that women are more “pessimistic” than men, as are old people relative to young. We also analyze how our notion of pessimism is related to more general notions of pessimism previously introduced in psychology. (shrink)

Islamic banking is based on moral foundations that make it distinct from conventional banking. Some argue that because of its foundation in Islam, Islamic banking may represent a more morally appealing alternative. Yet, evidence shows that this is not the case. Indeed, the current practice of Islamic banking has not been able to achieve its goals which are based on Islam's moral values: to enhance justice, equitability, and social well-being. This essay examines the extent to which Islamic banking is ethical (...) and concludes that the practice of the industry does not seem to be de facto ethical from the Islamic perspective of ethical values. It only consists in trading the same instruments of conventional banks without genuinely enforcing Islam's ethical vision. The practice of Islamic banking misrepresents Islam and does not contribute to solving social problems. The interaction between maqasid al-shari᾽a and qiyās provides a supplementary tool for interpreting the failure of the prior in terms of the practical misuse of the latter by Islamic banks. This essay provides an interpretive approach to the current debate about why Islamic banking has failed and suggests ways to move cautiously in the future. (shrink)

Contributing to the efforts to foster business postgraduate students development toward becoming responsible business leaders is the goal of this study by examining the state of responsible management education in business postgraduate programs in Sudan. We examined perceptions and attitudes toward responsible management and its education among postgraduate-level students and constructed a comprehensive framework appropriate for developing responsible management education programs in under-developed countries. This study’s data were gathered via a structured questionnaire answered by 106 postgraduate business students from the (...) largest four Sudanese business schools and facilities. The students were distributed among the management, finance, and marketing fields. The students exhibited affirmative corporate social responsibility perceptions and attitudes with a heightened focus on acting ethically and a diminished focus on financial considerations. A key lesson learned from this study is the need for the continued development of CSR and general ethics across business school curriculums in Sudan. (shrink)

Background: When adolescent boys experience close, secure relationships with their parents and peers, the implications are potentially far reaching, including lower levels of mental health problems in adolescence and young adulthood. Here we use rare prospective intergenerational data to extend our understanding of the impact of adolescent attachments on subsequent postpartum mental health problems in early fatherhood.Methods: At age 17–18 years, we used an abbreviated Inventory of Parent and Peer Attachment to assess trust, communication, and alienation reported by 270 male (...) participants in their relationships with mothers, fathers, and peers. More than a decade later, we assessed the adult males, now fathers, at 12 months postpartum for symptoms of depression, anxiety, and stress. Logistic regression was used to examine the extent to which attachment dimensions predicted paternal postpartum mental health, adjusting for potential confounding, and with assessment for interactions between parent and peer attachments.Results: Trust in mothers and peers, and good communication with fathers during adolescence, were associated with 5 to 7 percentage point reductions in postpartum mental health symptoms in early fatherhood. Weak evidence of parent-peer interactions suggested secure attachments with either parent or peer may compensate for an insecure attachment with the other.Conclusions: Our results suggest that fostering trust and communication in relationships that adolescent boys have with parents and peers may have substantial effects on rates of paternal postpartum mental health problems. The protective benefits may be preventative in intergenerational cycles of risk for mental health problems. (shrink)

In this article I defend a new argument against moralist theories of legitimacy and in favour of realist theories. Moralist theories, I argue, are vulnerable to ideological and wishful thinking because they do not connect the demands of legitimacy with the interests of rulers. Realist theories, however, generally do manage to make this connection. This is because satisfying the usual realist criteria for legitimacy – the creation of a stable political order that transcends brute coercion – is usually necessary for (...) rulers to preserve their rule. (shrink)

In this article I defend a new argument against moralist theories of legitimacy and in favour of realist theories. Moralist theories, I argue, are vulnerable to ideological and wishful thinking because they do not connect the demands of legitimacy with the interests of rulers. Realist theories, however, generally do manage to make this connection. This is because satisfying the usual realist criteria for legitimacy – the creation of a stable political order that transcends brute coercion – is usually necessary for (...) rulers to preserve their rule. (shrink)

In the nineteenth century, astronomers thought that a planet between Mercury and the Sun was causing perturbations in the orbit of Mercury, and they introduced ‘Vulcan’ as a name for such a planet. But they were wrong: there was, and is, no intra-Mercurial planet. Still, these astronomers went around saying things like (2) Vulcan is a planet between Mercury and the Sun. Some philosophers think that, when nineteenth-century astronomers were theorizing about an intra-Mercurial planet, they created a hypothetical planet.

Accoding to G.E. Moore, something''s intrinsic valuedepends solely on its intrinsic nature. Recently Thomas Hurka andShelly Kagan have argued, contra Moore, that something''s intrinsic valuemay depend on its extrinsic properties. Call this view the ConditionalView of intrinsic value. In this paper I demonstrate how a Mooreancan account for purported counterexamples given by Hurka and Kagan. I thenargue that certain organic unities pose difficulties for the ConditionalView.

Sometimes people desire that their lives go badly, take pleasure in their lives going badly, or believe that their lives are going badly. As a result, some popular theories of welfare are paradoxical. I show that no attempt to defend those theories from the paradox fully succeeds.

David Benatar argues that creating someone always harms them. I argue that his master argument rests on a conceptual incoherence.

This paper examines the implications of the context-sensitivity of counterfactuals for the correctness of emotions and attitudes towards death. I argue that the correctness of an attitude such as fear must be explained by appeal to its causal relations to certain preferences.

Many political realists reject the idea that the first task for political philosophy is to justify the existence of coercive political institutions. Instead, they say, we should begin with the factual existence of CPIs, and ask how they ought to be structured. In holding this view, they adopt a form of political naturalism that is broadly Aristotelian in character. In this article, I distinguish between two forms that this political naturalism might take - what I call a ‘strong’ form, and (...) a ‘weak’ form - and argue that both ought to be rejected. (shrink)

Most realist theories of legitimacy are internalist theories, meaning that they regard legitimacy as a function of how subjects view their own rulers. However, some realists seek to qualify their internalism by holding that legitimacy is not simply a matter of whether subjects accept their rulers’ exercise of power. According to one such view, legitimacy requires that rulers’ power be ‘acceptable’ to subjects, in the sense that it can be justified on the basis of values that they accept. Call this (...) acceptability internalism. In this article, I argue that realists should reject acceptability internalism. I first argue that acceptability internalism has the disadvantage of separating the concept of legitimacy from the interests of rulers. I then consider two arguments in favour of acceptability internalism, and argue that both should be rejected. (shrink)

This new volume explores terrorism and strategic terror, examining how the public responds to terrorist attacks, and what authorities can do in such situations. The book uses a unique interdisciplinary approach, which combines the behavioural sciences and international relations, in order to further the understanding of the 'terror' generated by strategic terror. The work examines five contemporary case studies of the psychological and behavioural effects of strategic terror, from either terrorist attacks or aerial bombardment. It also looks at how risk-communication (...) and public-health strategies can amplify or reduce psychological and behavioural responses, and considers whether behavioural effects translate into political effects, and what governments can do to relieve this. Ultimately, the study argues that the public is not prone to panic, but can change their behaviours to reduce their perceived risk of being exposed to a terrorist attack. This book will be of much interest to students of terrorism studies, homeland security, social psychology and politics in general. (shrink)

In “Tropes and Ordinary Physical Objects”, Kris McDaniel argues that ordinary physical objects are fusions of monadic and polyadic tropes. McDaniel calls his view “TOPO”—for “Theory of Ordinary Physical Objects”. He argues that we should accept TOPO because of the philosophical work that it allows us to do. Among other things, TOPO is supposed to allow endurantists to reply to Mark Heller’s argument for perdurantism. But, we argue in this paper, TOPO does not help endurantists do that; indeed, we argue (...) that anyone who accepts TOPO should reject endurantism. (shrink)

Millianism and Fregeanism agree that a sentence that contains a name expresses a structured proposition but disagree about whether that proposition contains the object that the name refers to (Millianism) or rather a mode of presentation of that object (Fregeanism). Various problems – about simple sentences, propositional‐attitude ascriptions, and sentences that contain empty names – beset each view. To solve these problems, Millianism can appeal to modes of presentation, and Fregeanism can appeal to objects. But this raises a further problem: (...) namely, to explain why the proposition expressed by a sentence that contains a name matters in some cases but not in others. (shrink)

I review the book “Making Prehistory: Historical Science and the Scientific Realism Debate” by Derek Turner. Turner suggests that philosophers should take seriously the historical sciences such as geology when considering philosophy of science issues. To that end, he explores the scientific realism debate with the historical sciences in mind. His conclusion is a view allied to that of Arthur Fine: a view Turner calls the natural historical attitude. While I find Turner’s motivations good, I find his characterisation of the (...) historical sciences unconvincing. I say why in a section at the end of the review. The result is that I am unpersuaded by his thesis. (shrink)

We revisit the foundations of positive model theory, introducing h-inductive sentences. These allow a considerably simplified presentation of positive model theory, as well as a characterisation of Hausdorff cats by an amalgamation property of their h-inductive theory.

This chapter discusses the metaphysical view referred to by Harry Silverstein as “four-dimensionalism,” but referred to in this chapter as “eternalism.” In contrast to presentism, eternalism posits that purely past and purely future objects and events exist. If a person goes out of existence at the moment of death, the problem arises as to how death is bad for its victim. According to Silverstein, this problem arises from the truth of the “Values Connect with Feelings” thesis, according to which it (...) must be possible for someone to have feelings about a thing in order for that thing to be bad for that person. The badness of death may entail eternalism, but it is for an entirely different reason. Eternalism must be true in order for there to be a time at which death is bad for its victim. These two conflicting views are discussed in this chapter. (shrink)

Difficulties understanding speech form one of the most prevalent complaints among older adults. Successful speech perception depends on top-down linguistic and cognitive processes that interact with the bottom-up sensory processing of the incoming acoustic information. The relative roles of these processes in age-related difficulties in speech perception, especially when listening conditions are not ideal, are still unclear. In the current study, we asked whether older adults with a larger working memory capacity process speech more efficiently than peers with lower capacity (...) when speech is presented in noise, with another task performed in tandem. Using the Eye-tracking of Word Identification in Noise Under Memory Increased Load an adapted version of the “visual world” paradigm, 36 older listeners were asked to follow spoken instructions presented in background noise, while retaining digits for later recall under low or high memory load. In critical trials, instructions directed listeners’ gaze to pictures of objects whose names shared onset or offset sounds with the name of a competitor that was displayed on the screen at the same time. We compared listeners with different memory capacities on the time course for spoken word recognition under the two memory loads by testing eye-fixations on a named object, relative to fixations on an object whose name shared phonology with the named object. Results indicated two trends. For older adults with lower working memory capacity, increased memory load did not affect online speech processing, however, it impaired offline word recognition accuracy. The reverse pattern was observed for older adults with higher working memory capacity: increased task difficulty significantly decreases online speech processing efficiency but had no effect on offline word recognition accuracy. Results suggest that in older adults, adaptation to adverse listening conditions is at least partially supported by cognitive reserve. Therefore, additional cognitive capacity may lead to greater resilience of older listeners to adverse listening conditions. The differential effects documented by eye movements and accuracy highlight the importance of using both online and offline measures of speech processing to explore age-related changes in speech perception. (shrink)

The ‘consensus’ model of public reason, associated with John Rawls’s political liberalism, has been criticised for excluding certain reasons from receiving consideration where the justification of the constitutional essentials is concerned. One limitation of these criticisms is that they typically focus on the exclusion of reasons political liberals are committed to excluding, notably reasons based on religious and comprehensive views. I argue that public reason excludes some reasons, central to the interests of many oppressed groups, that public reason advocates will (...) agree should not be excluded.L’idée de raison publique comme «consensus», associée au libéralisme politique de John Rawls, a été attaquée du fait de sa supposée incapacité à permettre la prise en compte de certaines raisons dans les cas où la substance même de la constitution est en question. Une limitation de ces critiques est qu’elles se concentrent habituellement sur l’exclusion de ces raisons que les libéraux eux-mêmes s’efforcent d’exclure, en particulier des raisons fondées sur des vues globales ou religieuses. Je défends l’idée selon laquelle la raison publique exclut de fait certaines raisons, essentielles aux intérêts de nombreux groupes opprimés, que les tenants de la raison publique eux-mêmes considèreraient ne pas devoir être exclues. (shrink)

in Values and Morals, eds. Alvin Goldman and Jaegwon Kim (Reidel, 1978), pp. 186-214.

Most philosophers seem to think that argument expression is not normally a form of intolerance. Call this the ‘argument-friendly view’ of intolerance. In this article, I argue that the case for the argument-friendly view is much weaker than commonly thought. I consider three possible arguments for the argument-friendly view and conclude that all three fail. This leaves us with a choice: either reject the argument-friendly view, or accept it as a feature of the concept of tolerance which has no rational (...) basis apart from our everyday usage of the term. (shrink)

In The Dilemma of Context, Scharfstein contends that the problems encountered with context are insoluble. He explains why this problem lays an intellectual burden on us that, while remaining inescapable,can become so heavy it destroys the understandingit was created to further.

The adventure I am now undertaking is an appraisal of my profession, philosophy, of my fellow professionals, the philosophers, and, finally of myself at least ...

This paper criticizes Kripke’s and Putnam’s theory of the semantics of natural kind terms (KPT) and develops an alternative theory. It first examines description theories of natural kind terms, to see what their flaws are and what can be preserved of them. It then presents the KPT and makes three main criticisms. These rely on the meaning of elementary particles’ names, on reactions to the absence of a common essential nature, and on applications of old terms to new cases. Lastly, (...) it develops a theory that takes noun phrases to be plural referring expressions, and shows how that theory meets the objections to the KPT. (shrink)

Contemporary public debates about global climate change may be usefully understood as debates on the epistemology of expertise. The scope of this essay is to offer an overview of significant epistemic challenges facing climate experts and those with whom they are epistemically interdependent, with attention to the implications of various accounts of expertise, trust, and credibility for practical and social issues raised in contemporary public debates about climate change.