We study the equilibrium behavior of informed traders interacting with market scoring rule (MSR) market makers. One attractive feature of MSR is that it is myopically incentive compatible: it is optimal for traders to report their true beliefs about the likelihood of an event outcome provided that they ignore the impact of their reports on the profit they might garner from future trades. In this paper, we analyze non-myopic strategies and examine what information structures lead to truthful betting by traders. (...) Specifically, we analyze the behavior of risk-neutral traders with incomplete information playing in a dynamic game. We consider finite-stage and infinite-stage game models. For each model, we study the logarithmic market scoring rule (LMSR) with two different information structures: conditionally independent signals and (unconditionally) independent signals. In the finite-stage model, when signals of traders are independent conditional on the state of the world, truthful betting is a Perfect Bayesian Equilibrium (PBE). Moreover, it is the unique Weak Perfect Bayesian Equilibrium (WPBE) of the game. In contrast, when signals of traders are unconditionally independent, truthful betting is not a WPBE. In the infinite-stage model with unconditionally independent signals, there does not exist an equilibrium in which all information is revealed in a finite amount of time. We propose a simple discounted market scoring rule that reduces the opportunity for bluffing strategies. We show that in any WPBE for.. (shrink)
Zhou Dunyi Zhou Dunyi has long been highly esteemed by Chinese thinkers. He is considered one of the first “Neo-Confucians,” a group of thinkers who draw heavily on Buddhist and Daoist metaphysics to articulate a comprehensive, Confucian religious … Continue reading Dunyi, Zhou →.
Zhou History Unearthed: The Bamboo Manuscript Xinian and Early Chinese Historiography. By Yuri Pines. New York: Columbia UniversitY Press, 2020. Pp. 352. $120 ; $30.
Zhou Fohai helped found the Chinese Communist Party but left the party in 1924 and aligned himself with the Guomindang . He then became one of the GMD's leading theoretical writers and was the editor of the monthly Xin shengming. Zhou had earlier contributed to Xin qingnian, and, in an article published in 1922, voiced the opinion that freedom of speech and association should not be given to the bourgeoisie since they then could use these freedoms to thwart (...) the revolution. Although Zhou in 1922 was a supporter of the CCP, and by 1928, when the article excerpted here was published, a theoretician of the GMD, his opinion on the need to restrict certain people's rights and freedoms did not change. Zhou argued against the idea of natural rights because it implied that all people, by virtue of their being human, would enjoy rights. The idea of "revolutionary people's rights" as advocated by the GMD, on the other hand, ensured that only those loyal to the revolution could exercise political rights. (shrink)
Numerous authors have attempted to carve an ontological distinction between events and processes on the basis of a widely noted linguistic datum involving count and mass nouns, where events are thought to be analogous to countable objects while processes to non-countable stuff. By assessing the most developed of these proposals—that of Helen Steward’s—this paper locates the motivations behind the project of carving some such distinction between events and processes, and proceeds to offer considerations toward an alternative account of processes—one whose (...) ontology is more akin to that of states than it is to stuff. (shrink)
Generally believed that "theory of continuing revolution under the dictatorship of the proletariat" is a "Cultural Revolution" guiding ideology, which in ten years the "Cultural Revolution" period has been widely publicized, has written to the Chinese Communists "nine", "Top Ten", "Eleventh large "by the political report and constitution, but also to write the fourth and fifth National People's Congress meeting adopted constitutional changes, the impact is huge. When it was proposed that "the history of Marxism has set a third great (...) milestone," and after more than ten years later, "since the founding of the party on a number of resolutions on the question of history" has made it a completely different assessment that It is the "leftist" errors and this should be "resolutely corrected." In this paper, the editorial "October Socialist Revolution opened up along the path," CPC "nine", Hua Guofeng, the Third Plenum and "since the founding of the party on a number of resolutions on the question of history," as the coordinates of the tracking the fate of its history and study. q "The Theory on Continuing the Revolution under the Leadership of Proletarians" is commonly regarded as the guiding ideology of the Cultural Revolution. Widely publicized during the decade-long Cultural Revolution, it has been incorporated into the Chinese Communist Party's constitution and the People's Republic of China's constitution for numerous times and has exerted a great influence on the state. By the time it was initially proposed in 1967, it was regarded as' the third landmark in the history of Marxism. But it was subject to a completely different fate more than ten years later as it was labeled "pinko" and was required to he "corrected" in Resolution on Certain Questions in the History of Our Party since the Founding of the People's Republic of China. This paper aims to conduct an investigation of the historical fate of "the Theory on Continuing the Revolution under the Dictatorship of Proletarians" with reference to the following texts: Go Ahead Along the Way Inaugurated by October Socialist Revolution, Report of the Ninth National Congress of the CPC, Hua Guofeng's Talkings, Report of the Third Plenary Session of the 11th Central Committee of the Communist Party of China and Resolution on Certain Questions in the History of Our Party since the Founding of the People's Republic of China. (shrink)
If you are interested in accountability and transparency in public decision-making, this book is for you. If you are interested in ways and means of avoiding capture by vested interests when making public policy, this book is for you. If you are interested in a sustainable and efficient agri-food system which meets the needs of consumers, producers and society, this book is for you.Agriculture remains an important industry in many economies. It is also a key sector with an important role (...) to play in determining nations’, societies’ and households’ nutritional and environmental performance and outcomes. Unfortunately, the agri-food sector in many countries suffers from excessive and poorly focused levels and types of intervention, constrained growth, and unsustainable practices.In his book, Developing Successful Agriculture, Professor Zhang-Yue Zhou provides us with a comprehensive and compelling account of how Australia’s agri-food sector has become so successful even though it receive .. (shrink)
The representatives of modern Neo-Confucianism all greatly value Yi Zhuan and regard it as one of their spiritual resources, and give their own creative interpretations and transformations. Xiong Shili's ontological-cosmological theory takes "qian yuan" as its center; Ma Yifu has a theory of ontology-cultivation centered on "nature-principle"; Fang Dongmei has a metaphysics of production and reproduction; Mou Zongsan takes the view of "completely knowing the fathomless and understanding transformation" as a moral metaphysics; and in Tang Junyi there is a theory (...) of the harmony of doctrines on Heaven and man in which "the knowledge of divine understanding" is its key concept. They employ modern philosophical concepts and thinking to illustrate the cosmology, ontology, theory of life, theory of human nature, theory of spiritual worlds, axiology and their connections in Zhou Yi. They affirm that the characteristics of Chinese philosophy that are different from Western philosophy consist in a naturalist view of vital life, a harmonious view of totality, an axiological view that values exist in natural universe and the world of fact, the pursuit of Good and Beauty, and intuitive experience of inner world. (shrink)
The two event-related potentials studies investigated how verbs and nouns were processed in different music priming conditions in order to reveal whether the motion concept via embodiment can be stimulated and evoked across categories. Study 1 tested the processing of verbs primed by two music types, with tempo changes and without tempo changes while Study 2 tested the processing of nouns in the same priming condition as adopted in Study 1. During the experiments, participants were required to hear a piece (...) of music prior to judging whether an ensuing word is semantically congruent with the motion concept conveyed by the music. The results show that in the priming condition of music with tempo changes, state verbs and inanimate nouns elicited larger N400 amplitudes than action verbs and animate nouns, respectively in the anterior regions and anterior to central regions, whereas in the priming condition of music without tempo changes, action verbs elicited larger N400 amplitudes than state verbs and the two categories of nouns revealed no N400 difference, unexpectedly. The interactions between music and words were significant only in Tasks 1, 2, and 3. Taken together, the results demonstrate that firstly, music with tempo changes and music without tempo prime verbs and nouns in different fashions; secondly, action verbs and animate nouns are easier to process than state verbs and inanimate nouns when primed by music with tempo changes due to the shared motion concept across categories; thirdly, bodily experience differentiates between music and words in coding fashion but the motion concept conveyed by the two categories can be subtly extracted on the metaphorical basis, as indicated in the N400 component. Our studies reveal that music tempos can prime different word classes, favoring the notion that embodied motion concept exists across domains and adding evidence to the hypothesis that music and language share the neural mechanism of meaning processing. (shrink)
Your letter has been received. Please give my regards to all the comrades-in-arms of Rebel Command Post of Henan Province [Henanzhaozhong]! Please also convey our deepest condolences to those comrades-in-arms who shed blood and sacrificed their lives while fighting under difficult and harsh circumstances.
In 1941, Zhou Jingwen launched a human rights movement in the magazine Shidai piping. Zhou was motivated both by concerns about the human rights violations committed by the Guomindang and by a belief that the protection of human rights would enable people to make greater contributions to the war effort. As Zhang Junmai would be, Zhou was inspired by H.G. Wells's work to draft a new human rights declaration that could serve as an inspiration during World War (...) II and as a manifesto for a future peaceful world. Zhou also attempted to relate the 1941 human rights movement to the May Fourth movement of 1919, in that he intended his human rights movement to awaken and liberate the Chinese. Positive reactions from readers prompted Zhou to publish a special issue on human rights, and some of the articles were also reprinted in book form. Zhou chose to remain on the mainland after 1949, and was severely criticized during the "three-anti" and "five-anti" campaigns in the early 1950s. He fled to Hong Kong in 1957 and there revived Shidai piping. (shrink)
Students and fighters of the Revolutionary Rebel Headquarters of Red Guards in the Capital's Institutions of Higher Education:Yesterday I gave a speech at a Red Guard mass rally organized by your headquarters in which I made one rather incomplete remark.
The Cultural Revolution currently underway is just the first one. Many more are sure to follow in the future. In recent years, Chairman Mao1 has often observed that it will take a very long time for history to settle who will be the winner and loser of the revolution. If things go wrong, capitalist restoration is possible at any time. The whole nation and the whole Party must not fall under the impression that everything will be fine after the first, (...) second, third, and fourth Cultural Revolutions. Be sure to keep this in mind; you should never let down your guard. (shrink)
This paper defends what I call the ‘wellbeing conception of harm’, according to which the relevant criterion for determining whether one has suffered harm is whether they have been made worse off in terms of their wellbeing. Firstly, I explain why it is that one might find the wellbeing conception of harm appealing to begin with. Then, I respond to two sets of concerns that have been levied against the wellbeing conception of harm. The first set of concerns relate to (...) the implausible moral/political consequences that would allegedly follow from adopting the wellbeing conception of harm. The second set of concerns challenge the practical significance of adopting the wellbeing conception of harm. I conclude with some remarks on how the wellbeing conception of harm can help to answer, or at least navigate, some controversial issues related to harm. (shrink)
Your letter has been received. Please give my regards to all the comrades-in-arms of Rebel Command Post of Henan Province [Henanzhaozhong]! Please also convey our deepest condolences to those comrades-in-arms who shed blood and sacrificed their lives while fighting under difficult and harsh circumstances.
The new coronavirus pandemic, COVID-19, has resurrected a number of historical and sociological problems associated with naming and blaming collectives for the origin or transmission of infectious disease. The default example of the false accusation in 2020 has been the case of the charge of well poisoning against the Jews of Western Europe causing the pandemic of the Black Death during the fourteenth century. Equally apparent is the wide-spread accusation that Asians are collectively responsible for the spread of the present (...) pandemic. Yet querying group actions in times of pandemics is not solely one of rebutting false attributions. What happens when a collective is at fault, and how does the collective respond to the simultaneous burden of both false, stereotypical accusations and appropriate charges of culpability? The case studies here are of Ultra-Orthodox Jewish (Haredi) communities and the PRC during the 2020 outbreak of COVID-19. (shrink)
This paper is devoted to a bibliographical study of Russell’s addresses and lectures in China in 1920–21. In particular, the study focuses on providing a complete and correct list of original sources pertaining to them, including speaking dates and translators. There has been, historically, considerable disagreement over the details. Extensive notes discuss and aim at solutions. The study adds significantly to our knowledge of Russell’s speaking and teaching activities in China.
