To find more information about Rowman and Littlefield titles, please visit www.rowmanlittlefield.com.

This chapter contains sections titled: Where we are When truth at a world depends on more than how that world is A diagram to give the key idea A language where truth at a world is, by stipulation, a function of which world is actual On looking for examples of two–dimensional sentences in the English of the folk How should we approach questions like, How do we use the word “water”? and, How do we use the word “Gödel”? More on (...) the evidential role of intuitions about possible cases What information do we impart with the word “water”–first pass With enemies like these, who needs friends?16 What information do we impart with the word “water”–second pass The issue about narrow content18 Proper names and information (I) Proper names and information (II) Coda. (shrink)

Parents influence the development of their offspring in many ways beyond the transmission of DNA. This includes transfer of epigenetic states, nutrients, antibodies and hormones, and behavioural interactions after birth. While the evolutionary consequences of such nongenetic inheritance are increasingly well understood, less is known about how inheritance mechanisms evolve. Here, we present a simple but versatile model to explore the adaptive evolution of non-genetic inheritance. Our model is based on a switch mechanism that produces alternative phenotypes in response to (...) different inputs, including genes and non-genetic factors transmitted from parents and the environment experienced during development. This framework shows how genetic and non-genetic inheritance mechanisms and environmental conditions can act as cues by carrying correlational information about future selective conditions. Differential use of these cues is manifested as different degrees of genetic, parental or environmental morph determination. We use this framework to evaluate the conditions favouring non-genetic inheritance, as opposed to genetic determination of phenotype or within-generation plasticity, by applying it to two putative examples of adaptive non-genetic inheritance: maternal effects on seed germination in plants and transgenerational phase shift in desert locusts. Our simulation models show how the adaptive value of non-genetic inheritance depends on its mechanism, the pace of environmental change, and life history characteristics. (shrink)

This paper gives an overview on the processes of commodification and de-commodification of goods and services as a background for analysing developments in the emerging information society. It contributes to the current discussion on intellectual property rights in terms of political economics by connecting it to technology and law. Finally, as an illustration of the proposed view, selected trendsetting Internet-based companies are studied with respect to their strategies in making profit.

In this article, we propose that giving in cash and non-cash differ in their relation with the giving firm’s future corporate financial performance and only cash giving is associated with future CFP. Using a novel dataset from ASSET4 that differentiates corporate giving over a sample period of 2002–2012, we examine three competing hypotheses: agency cost hypothesis that cash giving reflects agency cost and destroys value for shareholders, investment hypothesis that cash giving is an investment by management that aims for (...) better future return, and information hypothesis that cash giving has informational value to shareholders as cash is a critical resource at a firm and giving is a decision by managers who are insiders. We find that indeed, only cash giving is positively associated with future CFP and firm value, measured by Fama–French five-factor abnormal risk-adjusted stock returns, future return on assets, and Tobin’s Q. In addition, we find that the positive association exists only between excess, i.e., unexpected, but not expected cash giving and future CFP. Our empirical findings support the information hypothesis, but neither the agency hypothesis nor the investment hypothesis, and are robust to a number of endogeneity tests, including orthogonalized cash giving, instrumental variable regression using geography-based instruments, and propensity score matching. Furthermore, we show that the positive association between future CFP and unexpected cash giving is only pronounced at firms with good governance and relatively higher sales growth where agency problems are less likely, and at firms with no alternative mechanisms to demonstrate the strength of cash flow. Additionally, we do not find evidence that suggests in-kind giving to possess any informational value. (shrink)

According to the approach made famous by Alchourrón, Gärdenfors and Makinson (1985), revision is a transformation K*h of a potential belief state K by adding h yielding another potential belief state.1 This AGM revision transformation is a composition of two other transformations: contraction and expansion. K*h = [K-~h]+h. This is the expansion by adding h of the contraction K-~h of K by removing ~h.

A encyclopedia entry on the moral impacts that happen when information technologies are used to record, communicate and organize information. including the moral challenges of information technology, specific moral and cultural challenges such as online games, virtual worlds, malware, the technology transparency paradox, ethical issues in AI and robotics, and the acceleration of change in technologies. It concludes with a look at information technology as a model for moral change, moral systems and moral agents.

This thesis is about making decisions when we are uncertain about what will happen, how valuable it will be, and even how to make decisions. Even the most sure-footed amongst us are sometimes uncertain about all three, but surprisingly little attention has been given to the latter two. The three essays that constitute my thesis hope to do a small part in rectifying this problem. The first essay is about the value of finding out how to make decisions. Society (...) spends considerable resources funding people (like me) to research decision-making, so it is natural to wonder whether society is getting a good deal. This question is so shockingly underresearched that bedrock facts are readily discoverable, such as when this kind of information is valuable. My second essay concerns whether we can compare value when we are uncertain about value. Many people are in fact uncertain about value, and how we deal with this uncertainty hinges on these comparisons. I argue that value comparisons are only sometimes possible; I call this weak comparability. This essay is largely a synthesis of the literature, but I also present an argument which begins with a peculiar view of the self: it is as if each of us is a crowd of different people separated by time (but connected by continuity of experience). I’m not the first to endorse this peculiar view of the self, but I am the first to show how it supports the benign view that value is sometimes comparable. We may be uncertain of any decision rules, even those that would tell us how to act when we face uncertainty in decision rules. We may be uncertain of how to decide how to decide how to... And so on. If so, we might have to accept infinitely many decision rules just to make any mundane decision, such as whether to pick up a five-cent piece from the gutter. My third essay addresses this problem of regress. I think all of our decisions are forced: we must decide now or continue to deliberate. Surprisingly, this allows us to avoid the original problem. I call this solution “when forced, do your best”. (shrink)

Design for Values (DfV) philosophies are a series of design approaches that aim to incorporate human values into the early phases of technological design to direct innovation into beneficial outcomes. The difficulty and necessity of directing advantageous futures for transformative technologies through the application and adoption of value-based design approaches are apparent. However, questions of whose values to design are of critical importance. DfV philosophies typically aim to enrol the stakeholders who may be affected by the emergence of such (...) a technology. However, regardless of which design approach is adopted, all enrolled stakeholders are human ones who propose human values. Contemporary scholarship on metahumanisms, particularly those on posthumanism, have decentred the human from its traditionally privileged position among other forms of life. Arguments that the humanist position is not (and has never been) tenable are persuasive. As such, scholarship has begun to provide a more encompassing ontology for the investigation of nonhuman values. Given the potentially transformative nature of future technologies as relates to the earth and its many assemblages, it is clear that the value investigations of these design approaches fail to account for all relevant stakeholders (i.e., nonhuman animals). This paper has two primary objectives: (1) to argue for the cogency of a posthuman ethics in the design of technologies; and (2) to describe how existing DfV approaches can begin to envision principled and methodological ways of incorporating non-human values into design. To do this, the paper provides a rudimentary outline of what constitutes DfV approaches. It then takes up a unique design approach called Value Sensitive Design (VSD) as an illustrative example. Out of all the other DfV frameworks, VSD most clearly illustrates a principled approach to the integration of values in design. (shrink)

Abstract:Advance directives entail a refusal expressed by a still-healthy patient. Three consequences stem from that fact: (a) advance refusal is unspecific, since it is impossible to predict what the patient’s conditions and the risk-benefit ratio may be in the foreseeable future; (b) those decisions cannot be as well informed as those formulated while the disease is in progress; (c) while both current consent and refusal can be revoked as the disease unfolds, until the treatment starts out, advance directives become effective (...) when the patient becomes incapable or unconscious; such decisions can therefore not be revoked at any stage of the disease. Therefore, advance directives are binding for doctors only at the stage of advance treatment planning, i.e., only if they refer to an illness already in progress. (shrink)

In this article, I cast doubt on an apparent truism, namely, that if evidence is available for gathering and use at a negligible cost, then it’s always instrumentally rational for us to gather that evidence and use it for making decisions. Call this ‘value of information’ (VOI). I show that VOI conflicts with two other plausible theses. The first is the view that an agent’s evidence can entail non-trivial propositions about the external world. The second is the view (...) that epistemic rationality requires us to update our credences by conditionalization. These two theses, given some plausible assumptions, make room for rationally biased inquiries where VOI fails. I go on to argue that this is bad news for defenders of VOI. (shrink)

The paper aims at a perspicuous representation of Isaac Levi's pragmatist epistemology, spanning from the 1967 classic "Gambling with Truth" to his 2004 book on "Mild Contraction". Based on a formal framework for Levi's notion of inquiry, I analyse his decision-theoretic approach with truth and information as basic cognitive values, and with Shackle measures as emerging structures. Both cognitive values figure prominently in Levi's model of inductive belief expansion, but only the value of information is employed in (...) his model of belief contraction. I argue that the former model is more successful than the latter. (shrink)

Safe-by-Design (SBD) frameworks for the development of emerging technologies have become an ever more popular means by which scholars argue that transformative emerging technologies can safely incorporate human values. One such popular SBD methodology is called Value Sensitive Design (VSD). A central tenet of this design methodology is to investigate stakeholder values and design those values into technologies during early stage research and development (R&D). To accomplish this, the VSD framework mandates that designers consult the philosophical and ethical literature (...) to best determine how to weigh moral trade-offs. However, the VSD framework also concedes the universalism of moral values, particularly the values of freedom, autonomy, equality trust and privacy justice. This paper argues that the VSD methodology, particularly applied to nano-bio-info-cogno (NBIC) technologies, has an insufficient grounding for the determination of moral values. As such, an exploration of the value-investigations of VSD are deconstructed to illustrate both its strengths and weaknesses. This paper also provides possible modalities for the strengthening of the VSD methodology, particularly through the application of moral imagination and how moral imagination exceed the boundaries of moral intuitions in the development of novel technologies. (shrink)

Three of the major issues in information ethics – intellectual property, speech regulation, and privacy – concern the morality of restricting people’s access to certain information. Consequently, policies in these areas have a significant impact on the amount and types of knowledge that people acquire. As a result, epistemic considerations are critical to the ethics of information policy decisions (cf. Mill, 1978 [1859]). The fact that information ethics is a part of the philosophy of information (...) highlights this important connection with epistemology. In this paper, I illustrate how a value-theoretic approach to epistemology can help to clarify these major issues in information ethics. However, I also identify several open questions about epistemic values that need to be answered before we will be able to evaluate the epistemic consequences of many information policies. (shrink)

This paper explores the idea that it is instrumentally valuable to learn normative truths. We consider an argument for "normative hedging" based on this principle, and examine the structure of decision-making under moral uncertainty that arises from it. But it also turns out that the value of normative information is inconsistent with the principle that learning *empirical* truths is instrumentally valuable. We conclude with a brief comment on "metanormative regress.".

Recent literature has examined the problem facing decision makers with bounded awareness, who may be unaware of some states of nature. A question that naturally arises here is whether a value of awareness, analogous to value of information, can be attributed to changes in awareness. In this paper, such a value is defined. It is shown that the sum VOA +\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$+$$\end{document} VOI is constant and, except for scale (...) effects, independent of the choice set. It follows that the larger is VOA, the smaller is VOI. This point is illustrated for a simple two-state case, then proved for general classes of compact convex choice sets, and for alternative interpretations of the concept of unawareness. (shrink)

Evidence accumulation has been the core component in recent development of perceptual and value-based decision-making theories. Most studies have focused on the evaluation of evidence between alternative options. What remains largely unknown is the process that prepares evidence: how may the decision-maker sample different sources of information sequentially, if they can only sample one source at a time? Here we propose a normative framework in prescribing how different sources of information should be sampled proactively to facilitate the (...) decision process: beliefs for different noisy sources are updated in a Bayesian manner and participants can proactively allocate resource for sampling (i.e. saccades) among different sources to maximize the information gain in such process. We show that our framework can account for human participants’ actual choice and saccade behaviors in a two-alternative value-based decision-making task. Moreover, our framework makes novel predictions about the empirical eye movement patterns. (shrink)

In Information Systems development, resilience has often been treated as a non-functional requirement and little or no work is aimed at building resilience in end-users through systems development. The question of how values and resilience (for the end-user) can be incorporated into the design of systems is an on-going research activity in user-centered design. In this paper we evaluate the relation of values and resilience within the context of an ongoing software development project and contribute a formal model of (...) co-design based on a significant extension of Abstract Design Theory. The formal analysis provides a full and clear-cut definition of the co-design space, its objectives and processes. On the basis of both, we provide an abstract definition of resilient system (for the end-user). We conclude that value-sensitive co-design enforces better resilience in end-users. (shrink)

Sometimes we believe that others receive harmful information. However, Marschak’s value of information framework always assigns non-negative value under expected utility: it starts from the decision maker’s beliefs – and one can never anticipate information’s harmfulness for oneself. The impact of decision makers’ capabilities to process information and of their expectations remains hidden behind the individual and subjective perspective Marschak’s framework assumes. By introducing a second decision maker as a point of reference, this paper (...) introduces a way for evaluating others’ information from a cross-individual, imperfect expectations perspective for agents maximising expected utility. We define the cross-value of information that can become negative – then the information is “harmful” from a cross-individual perspective – and we define (mutual) cost of limited information processing capabilities and imperfect expectations as an opportunity cost from this same point of reference. The simple relationship between these two expected utility-based concepts and Marschak’s framework is shown, and we discuss evaluating short-term reactions of stock market prices to new information as an important domain of valuing others’ information. (shrink)

Safe-by-Design (SBD) frameworks for the development of emerging technologies have become an ever more popular means by which scholars argue that transformative emerging technologies can safely incorporate human values. One such popular SBD methodology is called Value Sensitive Design (VSD). A central tenet of this design methodology is to investigate stakeholder values and design those values into technologies during early stage research and development (R&D). To accomplish this, the VSD framework mandates that designers consult the philosophical and ethical literature (...) to best determine how to weigh moral trade-offs. However, the VSD framework also concedes the universalism of moral values, particularly the values of freedom, autonomy, equality trust and privacy justice. This paper argues that the VSD methodology, particularly applied to nano-bio-info-cogno (NBIC) technologies, has an insufficient grounding for the determination of moral values. As such, an exploration of the value-investigations of VSD are deconstructed to illustrate both its strengths and weaknesses. This paper also provides possible modalities for the strengthening of the VSD methodology, particularly through the application of moral imagination and how moral imagination exceed the boundaries of moral intuitions in the development of novel technologies. (shrink)

This paper summarizes the results of an analysis of empirical data on ethical attitudes of professionals and managers in relation to organizational core values in the Information Technology industry. This study investigates the association between key organizational values as independent variables and the ethical attitudes of IT managers as dependent variables. The study also delves into differences among IT non-managerial professionals, mid-level managers, and upper-level managers in their ethical attitudes and perceptions. Research results indicated that IT professionals from mechanistic (...) organizations were much more likely to report - compared to those from organic organizations - that managers in their corporate environment engage in behaviors considered unethical and that successful managers were more unethical relative to unsuccessful managers. There were significant differences between the upper-level managers and the mid-level managers and between the mid-level managers and the IT non-managerial professionals on certain key ethical issues. This paper discusses the conceptual framework, hypotheses, research methodology, data analysis, implications of the findings, and suggested areas of further research. (shrink)

The participation of vulnerable patients in clinical research poses apparent ethical dilemmas. Depending on the nature of the vulnerability, their participation may challenge the ethical principles of autonomy, non-maleficence, or justice. On the other hand, non-participation may preclude the building of a knowledge base that is a prerequisite for defining the optimal clinical management of vulnerable patients. Such clinical uncertainty may also incur substantial economic costs. We present the participation of pre-menopausal women with atrial fibrillation in trials of novel oral (...) anticoagulant drugs as a case study. Due to their non-participation in pivotal trials, it is uncertain whether for them, the risks that are associated with these drugs are outweighed by the advantages compared with conventional treatment. We addressed the question whether research of this new class of drugs in this subgroup would be appropriate from both, an ethical as well an economic perspective. We used the method of specifying norms as a wider framework to resolve the apparent ethical dilemma, while incorporating the question whether research of oral anticoagulants in premenopausal women with atrial fibrillation can be justified on economic grounds. For the latter, the results of a value-of-information analysis were used. Further clinical research on NOACs in premenopausal women with atrial fibrillation can be justified on both, ethical and economic grounds. Addressing apparent ethical dilemmas by invoking a method such as specifying norms can improve the quality of public practical reasoning. As such, the method should also prove valuable to committees that have formally been granted the authority to review trial protocols and proposals for scientific research. (shrink)

What is the most general common set of attributes that characterises something as intrinsically valuable and hence as subject to some moral respect, and without which something would rightly be considered intrinsically worthless or even positively unworthy and therefore rightly to be disrespected in itself? This paper develops and supports the thesis that the minimal condition of possibility of an entity's least intrinsic value is to be identified with its ontological status as an information object. All entities, even (...) when interpreted as only clusters of information, still have a minimal moral worth qua information objects and so may deserve to be respected. The paper is organised into four main sections. Section 1 models moral action as an information system using the object-oriented programming methodology (OOP). Section 2 addresses the question of what role the several components constituting the moral system can have in an ethical analysis. If they can play only an instrumental role, then Computer Ethics (CE) is probably bound to remain at most a practical, field-dependent, applied or professional ethics. However, Computer Ethics can give rise to a macroethical approach, namely Information Ethics (IE), if one can show that ethical concern should be extended to include not only human, animal or biological entities, but also information objects. The following two sections show how this minimalist level of analysis can be achieved. Section 3 provides an axiological analysis of information objects. It criticises the Kantian approach to the concept of intrinsic value and shows that it can be improved by using the methodology introduced in the first section. The solution of the Kantian problem prompts the reformulation of the key question concerning the moral worth of an entity: what is the intrinsic value of x qua an object constituted by its inherited attributes? In answering this question, it is argued that entities can share different observable properties depending on the level of abstraction adopted,and that it is still possible to speak of moral value even at the highest level of ontological abstraction represented by the informational analysis. Section 4 develops a minimalist axiology based on the concept of information object. It further supports IE's position by addressing five objections that may undermine its acceptability. (shrink)

In the United States and elsewhere, there is substantial controversy regarding the use of race and ethnicity by police in determining whom to stop, question, and investigate in relation to crime and security issues. In the ethics literature, the debate about profiling largely focuses on the nature of profiling and when (if ever) profiling is morally justifiable. This essay addresses the related, but distinct, issue of whether states have a duty to collect information about the race and ethnicity of (...) persons stopped by police. I argue that states in the U.S. do have such a duty on the grounds that such information collection would help secure the value of persons’ human rights against discrimination and unfair policing. Nonetheless, a large number of states do not require it. I begin by distinguishing rights from the value of rights, and arguing that under certain conditions persons have claims to the value of rights themselves, and that states have duties to secure that value. I then turn to the issue of profiling and offer the value of rights argument in favor of information collection about the race and ethnicity of persons stopped by police. (shrink)

Sissela Bok's1 and Torbjörn Tännsjö's2 writings on trust and informed consent were sources of inspiration for my article.3 It is gratifying to have a chance to respond to their thoughtful comments.Bok concurs with my scepticism that the ‘trust-promotion argument for informed consent’ can successfully generate commonsense morality's full set of informed consent norms. But she finds that argument even more wanting, perhaps so wanting as to be unworthy of critical attention. What she seems to find particularly objectionable is the fact (...) that the argument treats all social trust as valuable. For Bok, misplaced trust in health practitioners who are deceitful or violate patients’ other rights lacks any value whatsoever. There isn't even a pro tanto duty in favour of promoting it.My own inclination is to say that nearly all trust has some social value, if only thanks to its tendency to promote social stability or its tendency to promote medical adherence . But often, trust also tends to generate bad outcomes, and in many cases of misplaced trust, that tendency will make its value negative on balance. Still, in my view, …. (shrink)

This article addresses the value of information that affects the ambiguity faced by a decision maker. Our analysis is applied to the case of a farmer whose production can be damaged by a pest attack with unknown probability, this damage being reduced if the farmer decides to use a pesticide. Early warning systems have precisely been implemented in many countries to help farmers avoid inappropriate decisions in terms of pesticide use. We investigate, both theoretically and experimentally, how farmers (...) value these systems. We propose a two-state self-insurance model in which an α\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$\alpha$$\end{document}-MaxMin Expected Utility farmer may use pesticides that reduce the loss in the accident state while incurring a cost in both states. Her decision to self-insure or not depends on risk and ambiguity attitudes. We compile and compare the value of two types of information leading to a reduction of ambiguity and analyze their properties with respect to ambiguity attitude. Both types of information are valued positively if the farmer is ambiguity averse. We conduct a framed field experiment in which farmers and agricultural students have to decide whether or not to apply pesticides depending on risk, ambiguity and the associated monetary gains resulting from pesticide cost. The experimental findings support the theory. The average value of information among all participants is between €0.9/ha and €3.3/ha depending on the information gain. (shrink)

This paper investigates the socio-technical construction, quality control, and coordination of the credence quality attribute “halal” throughout the halal meat chain. The paper is framed within Actor-Network Theory and economic Conventions Theory. Islamic dietary laws or prescriptions, and how these are translated into production and processing standards using a HACCP-like approach, are discussed. Current halal quality coordination is strongly based on civic and domestic logics in which Muslim consumers prefer transacting with Muslim butchers, that is, individuals of known reputation with (...) similar moral and religious obligations. The HACCP-like approach with identification of critical halal control points, as presented in this paper, fits with the industrial quality convention mechanism and ideally yields guaranteed and trustworthy halal credence quality, eventually marked by a halal meat label. The socio-technical construction of halal credence quality, for example with respect to ritual slaughter, and the quality coordination mechanism aimed at reducing halal quality uncertainty among Muslim consumers, for example through labeling, are identified as key attention points in the future research agenda. (shrink)

A case from 1996 in Oregon in which citizens' legally publicmotor vehicle information was disseminated on a World Wide Website is considered. The case evoked widespread moral outrageamong Oregonians and led to changes in the Oregon records laws.The application of either consequentialist ornon-consequentialist moral theories to this and otherinformational privacy cases is found to be inadequate.Adjudication of conflicting desires is offered as the appropriateanalytical model for moral disputes. The notion of adjudicationoffered here diverges from traditional moral theories in itsindeterminate (...) nature. (shrink)

PurposeThe so‐called strategic information systems define systems that represent instruments able to provide a competitive advantage. In this case, the purpose of this paper is to go further and broaden the perspective to examine business sectors. Namely, information systems are conceived also as factors that reconfigure entire business systems.Design/methodology/approachThe research strategy followed can be considered in the circle of the case study. Specifically the case is Yoox, a virtual boutique. The theoretical approach for answering to the questions how (...) and why information systems are determinant in Yoox's development is based on Normann's work. In fact, it outlines modalities through which information systems reconfigure value space and give details to forces enacted consequently.FindingsThe Yoox case study throws light on the fact that, actually, information systems can be a useful instrument not only for reformulating business models but also dynamics that characterize entire business sectors.Research limitations/implicationsThe perspective proposed is limited to marginal aspects of the fashion business, i.e. global brands such as Armani have been involved in pursuing new online distribution channels outsourcing these services to a Dot.com company like Yoox.Originality/valueA business such as a virtual boutique for a multi‐brand fashion and design is imitable due to the worldwide competition. The fact that Yoox became a provider of e‐commerce platform, forming the logistical side to the marketing strategies on the net, changes the scenario significantly. Yoox's mission is not only to sell fashion online but to provide a technological platform for e‐commerce. In this way, Armani, at first, was a Yoox provider but now it is also a customer. In some sense, the rules of the game of the fashion sector, have been, albeit marginally, modified. (shrink)

This paper summarizes the results of an analysis of empirical data on ethical attitudes of professionals and managers in relation to organizational core values in the Information Technology (IT) industry. This study investigates the association between key organizational values as independent variables and the ethical attitudes of IT managers as dependent variables. The study also delves into differences among IT non-managerial professionals, mid-level managers, and upper-level managers in their ethical attitudes and perceptions. Research results indicated that IT professionals from (...) mechanistic organizations were much more likely to report – compared to those from organic organizations – that managers in their corporate environment engage in behaviors considered unethical and that successful managers were more unethical relative to unsuccessful managers. There were significant differences between the upper-level managers and the mid-level managers and between the mid-level managers and the IT non-managerial professionals on certain key ethical issues. This paper discusses the conceptual framework, hypotheses, research methodology, data analysis, implications of the findings, and suggested areas of further research. (shrink)

This paper reports on the findings of the first stage of a research project that experiments with the use of laddering technique in an attempt to enhance understanding of the influence of values in the behaviour of HRM professionals. Laddering has been chosen because it allows flexible, systematic investigation of aspects of ethics and people management which have hitherto been difficult to clarify. It also provides the opportunity to undertake both qualitative and quantitative analysis of the data obtained. The research (...) design incorporates two phases – a questionnaire and a laddering interview; it involves a sample of respondents drawn from HRM practitioners participating in the CIPD Professional Qualification Scheme. In comparing the results obtained from each phase of the research, it is clear that the laddering interviews have enabled more detailed information to be elicited and more specific goals to be identified. The authors believe that laddering can provide valuable additional insight into ethical practice, behaviour and goals. (shrink)

As global warming becomes increasingly prominent, countries worldwide advocate for a low-carbon economy to cope with the pressure to reduce greenhouse gas emissions. The Chinese government has proposed a “dual carbon” goal of peaking carbon emissions by 2030 and becoming carbon neutral by 2060. The disclosure of carbon information by Chinese enterprises has attracted widespread attention from society. This study selects the constituents of the Social Responsibility Index of China Shanghai Stock Exchange from 2016 to 2020 as samples to (...) empirically analyze the relationship between the level of carbon information disclosure and corporate value, and the moderating effect of greenwashing behavior. Results indicated that the quality of carbon disclosure is positively correlated with the enterprise value. Greenwashing behavior promotes the positive impact of carbon disclosure quality on enterprise value in the short run, but this promoting effect fades in the long run. We further found that the carbon information disclosure of non-heavy-pollution enterprises has a more obvious positive impact on enterprise value than that of heavily polluting enterprises. Additionally, the positive impact of carbon information disclosure on enterprise value is more visible among enterprises in a good legal environment than those in a poor legal environment. This study enriches the relevant literature on carbon information disclosure and enterprise “greenwashing” behavior and has practical significance for promoting China’s low-carbon development in the context of ecological civilization and improving the enthusiasm for the quality of enterprise carbon information disclosure. (shrink)

de Bruin et al. (The Stanford Encyclopedia of Philosophy, Stanford University, Stanford, 2018) write that it is a philosophically interesting question “whether there is such a thing as an 'intrinsic' value of financial assets” noting that the calculation of any intrinsic price will depend, in part, on subjective elements. McCauley suggest that there are at least five different notions of the ‘true value’ of an asset in finance theory, and argues, consistent with de Bruin et al. that in (...) many cases the calculation of such values “makes impossible information demands on our knowledge of future dividends and returns”. This paper explores some of the subjective elements involved in calculating the intrinsic value of an asset, and their implications for the Law of One Price. The Law of One Price states that investors should not pay different prices for the same investment. Consequently, the existence, and persistence, of arbitrage opportunities is often attributed to investor irrationality. However, if subjectivity is involved in the calculation of intrinsic value then two investors can, rationally, disagree about the value of a security. This implies that arbitrage opportunities may not always be instances of irrationality, or genuine mispricing, but reflect different investors perceptions of the security. In economics, value is taken to be subjective, and Postigo describes how goods have value because of the role they play in the satisfaction of our needs. By applying this to finance, this paper will argue that a security can play a number of roles in a portfolio, depending on an investor's strategy. Given these different roles, different investors will be working with different data in their assessment of intrinsic value. In order to establish that an arbitrage opportunity exists it is therefore necessary to understand what information is relevant to pricing the investment in different locations, or markets. It may, in fact, be the case that the same security can trade at different prices because different investors do not see it as the ‘same thing’ at all. This analysis can also be used to throw doubt on the emphasis that fundamental analysis receives in discussions of rationality. (shrink)

de Bruin et al. The Stanford encyclopedia of philosophy, Stanford University, Stanford, 2018) write that it is a philosophically interesting question “whether there is such a thing as an “intrinsic” value of financial assets” noting that the calculation of any intrinsic price will depend, in part, on subjective elements. McCauley suggest that there are at least five different notions of the ‘true value’ of an asset in finance theory, and argues, consistent with de Bruin et al. that in (...) many cases the calculation of such values “makes impossible information demands on our knowledge of future dividends and returns”. This paper explores some of the subjective elements involved in calculating the intrinsic value of an asset, and their implications for the Law of One Price. The Law of One Price states that investors should not pay different prices for the same investment. Consequently, the existence, and persistence, of arbitrage opportunities is often attributed to investor irrationality. However, if subjectivity is involved in the calculation of intrinsic value then two investors can, rationally, disagree about the value of a security. This implies that arbitrage opportunities may not always be instances of irrationality, or genuine mispricing, but reflect different investor’s perceptions of the security. In economics, value is taken to be subjective, and Postigo describes how goods have value because of the role they play in the satisfaction of our needs. By applying this to finance, this paper will argue that a security can play a number of roles in a portfolio, depending on an investors’ strategy. Given these different roles, different investors will be working with different data in their assessment of intrinsic value. In order to establish that an arbitrage opportunity exists it is therefore necessary to understand what information is relevant to pricing the investment in different locations, or markets. It may, in fact, be the case that the same security can trade at different prices because different investors do not see it as the ‘same thing’ at all. This analysis can also be used to throw doubt on the emphasis that fundamental analysis receives in discussions of rationality. (shrink)

This paper reports on the findings of the first stage of a research project that experiments with the use of laddering technique in an attempt to enhance understanding of the influence of values in the behaviour of HRM professionals. Laddering has been chosen because it allows flexible, systematic investigation of aspects of ethics and people management which have hitherto been difficult to clarify. It also provides the opportunity to undertake both qualitative and quantitative analysis of the data obtained. The research (...) design incorporates two phases – a questionnaire and a laddering interview; it involves a sample of respondents drawn from HRM practitioners participating in the CIPD Professional Qualification Scheme. In comparing the results obtained from each phase of the research, it is clear that the laddering interviews have enabled more detailed information to be elicited and more specific goals to be identified. The authors believe that laddering can provide valuable additional insight into ethical practice, behaviour and goals. (shrink)

In my paper I will focus my attention on some philosophical aspects of the Information Ethics displayed by Luciano Floridi. Floridi’s Information Ethics has the methodological merit of providing the interpretation of the Informational Turn with a solid philosophical basis, the roots of which deserve a careful investigation. In this perspective, I will analyse a key question, which is essential not only from a theoretical but also from a practical (moral, political and legal) point of view, i.e. whether (...) or not Floridi’s construction of information is consistent with a pluralistic conception of Being. (shrink)

In my paper I will focus my attention on some philosophical aspects of the Information Ethics displayed by Luciano Floridi. Floridi’s Information Ethics has the methodological merit of providing the interpretation of the Informational Turn with a solid philosophical basis, the roots of which deserve a careful investigation. In this perspective, I will analyse a key question, which is essential not only from a theoretical but also from a practical point of view, i.e. whether or not Floridi’s construction (...) of information is consistent with a pluralistic conception of Being. (shrink)

The notion of a proposition as a set of possible worlds or states occupies central stage in probability theory, semantics and epistemology, where it serves as the fundamental unit both of information and meaning. But this fact should not blind us to the existence of prospects with a different structure. In the paper I examine the use of random variables—in particular, proposition-valued random variables— in these fields and argue that we need a general account of rational attitude formation with (...) respect to them. (shrink)