We develop a framework for assessing security market quality, relating five elements of market design to three metrics of market integrity and two metrics of market efficiency. We empirically implement this integrity–efficiency MQ framework by testing a hypothesis that trade-based ramping manipulation at the close raises execution costs on 24 security markets worldwide. Estimating a simultaneous equations model of ramping incidence, spreads, and the probability of deploying real-time surveillance, we show that quoted bid-ask spreads are positively related to the incidence (...) of MTC across seven liquidity deciles. The magnitude is economically significant; improving market integrity by cutting MTC in half reduces spreads 6–11 %. Allowing direct market access in conjunction with RTS, conducting auctions at the close, and developing regulations that require surveillance, all reduce MTC and thereby lower spreads, assuring better market integrity and enhancing market efficiency. Introducing circuit breakers or prohibiting shorts poses integrity–efficiency tradeoffs. (shrink)

One of the most influential studies in all expertise research is de Groot’s (1946) study of chess players, which suggested that pattern recognition, rather than search, was the key determinant of expertise. Many changes have occurred in the chess world since de Groot’s study, leading some authors to argue that the cognitive mechanisms underlying expertise have also changed. We decided to replicate de Groot’s study to empirically test these claims and to examine whether the trends in the data have changed (...) over time. Six Grandmasters, five International Masters, six Experts, and five Class A players completed the think-aloud procedure for two chess positions. Findings indicate that Grandmasters and International Masters search more quickly than Experts and Class A players, and that both groups today search substantially faster than players in previous studies. The findings, however, support de Groot’s overall conclusions and are consistent with predictions made by pattern recognition models. (shrink)

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My aim in this paper is to clarify Kant’s conception of self-contentment, which is a particular kind of satisfaction associated with being a virtuous person. I do so by placing the term in the context of Kant’s answer to an objection made by Kant’s contemporary Christian Garve, namely the objection that if virtuous action is accompanied by a feeling of satisfaction, then virtuous action might only performed in order to experience this feeling of satisfaction . I begin by illustrating the (...) main features of Kant’s concept of self-contentment before turning to Garve’s objection and Kant’s response to it. I conclude by clarifying the differences between self-contentment, respect for the moral law, and Kant’s concept of moral pleasure. (shrink)

A presentation of the major themes of Teilhard's works and their relationship to traditional biblical and theological concepts.

A central challenge for research on how we should prepare students to manage crossing boundaries between different knowledge settings in life long learning processes is to identify those forms of knowledge that are particularly relevant here. In this paper, we develop by philosophical means the concept of a dialectical system as a general framework to describe the de-velopment of knowledge networks that mark the starting point for learning processes, and we use semiotics to discuss the epistemological thesis that any cognitive (...) access to our world of objects is mediated by signs and diagrammatic reasoning and abduction as those forms of practical knowledge that are crucial for the development of knowledge networks. The rich-ness of this theoretical approach becomes evident by applying it to an example of learning in a biological research context. At the same time, we take a new look at the role of mathematical knowledge in this process. (shrink)

Sound-producing movements in percussion performance require a high degree of fine motor control. However, there remains a relatively limited empirical understanding of how performance level abilities develop in percussion performance in general, and marimba performance specifically. To address this issue, nine percussionists performed individualised excerpts on marimba within three testing sessions spaced 29 days apart to assess early, intermediate, and late stages of motor learning. Motor learning was quantified via analyses of both the temporal control of mallet movements, and the (...) spatial variability of upper-limb movements. The results showed that temporal control of mallet movements was greater in the intermediate compared to the early learning session, with no significant additional improvements revealed in the late learning session. In addition, spatial variability in the left and right elbows decreased within the intermediate compared to the early learning session. The results suggest that temporal control of mallet movements may be driven by reductions in spatial variability of elbow movements specifically. As a result, this study provides novel evidence for kinematic mechanisms underlying motor learning in percussion which can be applied towards enhancing musical training. (shrink)

Oleg Grabar has argued that there was not a system of visual symbols in Islamic culture; consequently it is difflcult to hold that an Islamic architecture exists; that is, if we were to stand before a mosque and try to experience it aesthetically or see what kind of building it is we would not be able to say that it is a mosque. In this paper we argue against this proposition. We, first, present a brief analysis of Grabar's view. Second, (...) we critically evaluate this view. Third, we explicate how the mosque as an architectural type embodies uniquely Islamic symbols. We shall illustrate this point by an analysis of one basic Islamic symbol: the Mihrab. The thesis we defend is that there are basic Islamic symbols and that these symbols inhere in the mosque. It is this fact that lends credibility to the claim that an Islamic architecture exists. /// Oleg Grabar defendeu a tese de que não existe um sistema de símbolos visuais na cultura islâmica; consequentemente, é difícil defender a existência de uma arquitectura islâmica; ou seja, se estivéssemos diante de uma mesquita e tentássemos fazer uma experiência estética da mesma ou analisar que tipo de edifício se trata, não seríamos capazes de dizer que se trata de uma mesquita. No presente artigo, os autores argumentam contra esta proposição. Em primeiro lugar, os autores começam por apresentar uma breve análise do ponto de vista de Grabar. Em segundo lugar, avaliam criticamente esta posição. Em terceiro lugar tentam explicar até que ponto a mesquita como tipo arquitectónico apenas incorpora símbolos islâmicos. Os autores exemplificam este ponto mediante a análise de um dos símbolos básicos do Islamismo: o Mihrab. O artigo defende, portanto, a tese de que existem símbolos islâmicos básicos e de que estes símbolos estão presentes na mesquita. Ora é precisamente este facto que dá credibilidade à afirmação de que existe uma arquitectura islâmica propriamente dita. (shrink)

This title opens the debate about what an ethics for the 21st century would look like and the role of corporations and how to work to ensure they produce results which benefit society as a whole.

Peter Abelard (1079–1142 ce) was the most wide‐ranging philosopher of the twelfth century. He quickly established himself as a leading teacher of logic in and near Paris shortly after 1100. After his affair with Heloise, and his subsequent castration, Abelard became a monk, but he returned to teaching in the Paris schools until 1140, when his work was condemned by a Church Council at Sens. His logical writings were based around discussion of the “Old Logic”: Porphyry's Isagoge, aristotle'S Categories and (...) On Interpretation and boethius'S textbook on topical inference. They comprise a freestanding Dialectica (“Logic”; probably c.1116), a set of commentaries (known as the Logica [Ingredientibus], c. 1119) and a later (c. 1125) commentary on the Isagoge (Logica Nostrorum Petititoni Sociorum or Glossulae). In a work Abelard called his Theologia, issued in three main versions (between 1120 and c.1134), he attempted a logical analysis of trinitarian relations and explored the philosophical problems surrounding God's claims to omnipotence and omniscience. The Collationes (“Debates,” also known as “Dialogue between a Christian, a Philosopher and a Jew”; probably c.1130) present a rational investigation into the nature of the highest good, in which the Christian and the Philosopher (who seems to be modeled on a philosopher of pagan antiquity) are remarkably in agreement. The unfinished Scito teipsum (“Know thyself,” also known as the “Ethics”; c.1138) analyses moral action. (shrink)

Eighty years after de Broglie’s, and a little more than half a century after Bohm’s seminal papers, the de Broglie–Bohm theory (a.k.a. Bohmian mechanics), which is presumably the simplest theory which explains the orthodox quantum mechanics formalism, has reached an exemplary state of conceptual clarity and mathematical integrity. No other theory of quantum mechanics comes even close. Yet anyone curious enough to walk this road to quantum mechanics is soon being confused by many misleading signposts that have been put up, (...) and not just by its detractors, but unfortunately enough also by some of its proponents. This paper outlines a road map to help navigate ones way. (shrink)

Given its non-invasive nature, there is increasing interest in the use of transcutaneous vagus nerve stimulation across basic, translational and clinical research. Contemporaneously, tVNS can be achieved by stimulating either the auricular branch or the cervical bundle of the vagus nerve, referred to as transcutaneous auricular vagus nerve stimulation and transcutaneous cervical VNS, respectively. In order to advance the field in a systematic manner, studies using these technologies need to adequately report sufficient methodological detail to enable comparison of results between (...) studies, replication of studies, as well as enhancing study participant safety. We systematically reviewed the existing tVNS literature to evaluate current reporting practices. Based on this review, and consensus among participating authors, we propose a set of minimal reporting items to guide future tVNS studies. The suggested items address specific technical aspects of the device and stimulation parameters. We also cover general recommendations including inclusion and exclusion criteria for participants, outcome parameters and the detailed reporting of side effects. Furthermore, we review strategies used to identify the optimal stimulation parameters for a given research setting and summarize ongoing developments in animal research with potential implications for the application of tVNS in humans. Finally, we discuss the potential of tVNS in future research as well as the associated challenges across several disciplines in research and clinical practice. (shrink)

Both fairness and efficiency are important considerations in market design and regulation, yet many regulators have neither defined nor measured these concepts. We develop an evidencebased policy framework in which these are both defined and measured using a series of empirical proxies. We then build a systems estimation model to examine the 2003–2011 explosive growth in algorithmic trading on the London Stock Exchange and NYSE Euronext Paris. Our results show that greater AT is associated with increased transactional efficiency and reduced (...) information leakage in top quintile stocks. For less liquid stocks, manipulation at the close declines. We also document the tradeoff between reduced spreads and increased manipulation or information leakage following the introduction of MiFID1. (shrink)