This book offers a unified treatment of selected topics in the theory of financial markets. Starting with discrete time models, Dothan introduces discrete time stochastic calculus and discrete martingale methods of intuitive simplicity to characterize attainability, completeness, pricing, and the relationship between risk and return in financial markets. Subsequently, he uses the intuition developed in conjunction with the discrete time theory to introduce continuous time calculus for continuous, jump, and mixed continuous-jump processes, and to deal with attainability, completeness, pricing, (...) and the relationship between risk and return in general continuous time models. Throughout, the exposition of the continuous time theory emphasizes the analogies between discrete time and continuous time methods and results. The book includes many examples, applications to the pricing of options and other derivative securities, and an extensive discussion of the Black-Scholes model and its most general theoretical extension. (shrink)

The Mesillas Yesharim / Path of the Just was the masterpiece of Rabbi Moshe Chaim Luzzatto, the great mystic, philosopher, sage, and saint. For centuries, this classic text for better living has been every man's primer for ideal life. Wherever there were Jews there was a well-thumbed Mesillas Yesharim. In this book, Rabbi Twerski applies the text and themes of Mesillas Yesharim to the everyday challenges of the 90s. He shows us how we can succeed in the quest for (...) a better life and in bettering ourselves. (shrink)

In this volume, the third in his classic series on art theory, Moshe Barasch traces the hidden patterns and interlocking themes in the study of art, from impressionism to abstract art. Barasch details the immense social changes in the creation, presentation, and reception of art which have set the history of art theory on a vertiginous new course: the decreased relevance of workshops and art schools; the replacement of the treatise by the critical review; and the emerging interrelationship between (...) scientific inquiry and artistic theory. The consequent changes in the ways in which critics as well as artists conceptualized paintings and sculptures were radical, marked by an obsession with intense sensory experiences, psychological reflection on the effects of art, and an attraction to the exotic and alien--making for the most exciting and fertile period in the history of art criticism. (shrink)

This book describes Carmeli's cosmological general and special relativity theory, along with Einstein's general and special relativity. These theories are discussed in the context of Moshe Carmeli's original research, in which velocity is introduced as an additional independent dimension. Four- and five-dimensional spaces are considered, and the five-dimensional braneworld theory is presented. The Tully-Fisher law is obtained directly from the theory, and thus it is found that there is no necessity to assume the existence of dark matter in the (...) halo of galaxies, nor in galaxy clusters.The book gives the derivation of the Lorentz transformation, which is used in both Einstein's special relativity and Carmeli's cosmological special relativity theory. The text also provides the mathematical theory of curved space?time geometry, which is necessary to describe both Einstein's general relativity and Carmeli's cosmological general relativity. A comparison between the dynamical and kinematic aspects of the expansion of the universe is made. Comparison is also made between the Friedmann-Robertson-Walker theory and the Carmeli theory. And neither is it necessary to assume the existence of dark matter to correctly describe the expansion of the cosmos. (shrink)

Obsessive-Compulsive Disorder and Uncertainty examines the intrapsychic features of the self as it presents within OCD compulsive doubting. Moshe Marcus and Steven Tuber suggest a phenomenological framework through which to consider the interplay between the cognitive as well as affective components required to make judgments.

This study examines the theory of media systems and the models offered by Hallin and Mancini (2004) by focusing on critical junctures in which changes occur. Based on critical political economy and historical institutionalism, we analyzed the Israeli media system transition in the 1980s and early 1990s, seeking to understand the nature of this change and its theoretical implications. Our findings show a combination of government, market, and public forces in a unique situation where political, economic, and social circumstances change. (...) Accordingly, we conclude that a distinction between politics and economy, as the media system theory and, specifically, the liberal model suggests, is invalid under neoliberalism. We argue that research attention should be paid to critical junctions, and that a closer analysis of government and market interrelations can enrich theories of media systems. (shrink)

In this volume, the third in his classic series of texts surveying the history of art theory, Moshe Barasch traces the hidden patterns and interlocking themes in the study of art, from Impressionism to Abstract Art. Barasch details the immense social changes in the creation, presentation, and reception of art which have set the history of art theory on a vertiginous new course: the decreased relevance of workshops and art schools; the replacement of the treatise by the critical review; (...) and the interrelation of new modes of scientific inquiry with artistic theory and praxis. The consequent changes in the ways in which critics as well as artists conceptualized paintings and sculptures were radical, marked by an obsession with intense, immediate sensory experiences, psychological reflection on the effects of art, and a magnetic pull to the exotic and alien, making for the most exciting and fertile period in the history of art criticism. (shrink)

In the latter part of the fifteenth century, a Jewish translator, working together with a Slavic amanuensis, translated into the East Slavic language of the Grand Duchy of Lithuania three medieval Hebrew translations of Arabic philosophical texts: the Logical Terminology, a short work on logic attributed to Maimonides (but probably by a different medieval Jewish author); and two sections of the Muslim theologian Al-Ghazali's famous Intentions of the Philosophers. Highlighting the unexpected role played by Jewish translators as agents of cultural (...) transmission in the heady messianic atmosphere leading up to the year 1492, these texts drew the attention of the Orthodox Church authorities as being in the possession of the enlightened heretical sect known as the Judaizers, which had emerged in Novgorod and spread to Moscow. Reflecting three and even four layers of translation, Prof. Moshe Taube's new triple-language critical edition of the Logika of the Judaizers displays the Slavic texts alongside the Hebrew translations on which they are based and accompanies them with a modern English translation. In his comprehensive introduction and commentary, Taube surveys earlier scholarly efforts to identify the provenance and purport of the translations, discusses the linguistic and textological issues raised by these early Ruthenian texts, puts forward the likely dissimilar motivations of the Jewish translator and the Christians who commissioned the work, and reveals the translator's probable identity. The present publication, a long-awaited desideratum, will be of interest not only to historians of the Great Duchy of Lithuania and of the principality of Muscovy, but also to scholars of Jewish history and of the history of philosophy and science, as well as to linguists studying the history of the Belorussian, Ukrainian and Russian languages. (shrink)

The book is at its most profound in sorting out the relation between violence and sacrifice. Altogether, this is a very moving and deep book--philosophically, anthropologically, and religiously.

The paper suggests a novel methodology for determining the state of legal doctrine on a particular issue by legal scholars. This methodology is inspired by the philosophical field of phenomenology. In particular, the tool of eidetic reduction developed by Edmund Husserl is applied to reach inter-subjectively valid assessments of doctrine. The methodology developed here argues that scholars who wish to discover legal doctrine on a particular issue need to first define general paradigms that explain the relevant legal field. Then, they (...) should develop a hypothesis about the law on the particular issue that concurs with the essential qualities of all these paradigms. Finally, to determine if a hypothesis about the content of the law should be accepted or rejected, it must be checked against legal sources that often include judgments. Reasoning by analogy should be used to learn from judgments with the same policy implications as the doctrine suggested by the hypothesis. The paper offers several heuristics—demonstrated with examples from international law—that can be used to find judgments that have the same policy implications without determining conclusively what these implications are. (shrink)

The argument moves from the art and civilization of ancient Egypt to that of modern Europe and effortlessly reveals a full and surprising range of language in art - from the magical to the impious, from the ambiguous to the didactic, scientific, and propagandistic.

International courts strive to enhance their legitimacy, that is, they would like the members of the international community to perceive their judgments as just, correct and unbiased even if they do not agree with their specific content. This Article argues that international courts take into account the actors they interact with, the norms they apply, and the conditions they operate under as they try to enhance their legitimacy. It demonstrates strategic behavior towards that end in the judgments of two prominent (...) international courts - the International Court of Justice and the European Court of Human Rights. International courts interact with states under their jurisdiction and with their national courts. International courts try to preserve their legitimacy vis-à-vis states; at the same time, they want to signal that states will comply with them even if they issue judgments states disagree with. International courts can cooperate with national courts and gain legitimacy from interacting with legitimate national courts. The norms that international courts apply constrain their ability to maneuver their judgments in ways that can help their legitimacy, but at the same time help legitimize their judgments. International courts use various tactics to shape their reasoning in order to improve their legitimacy. The behavior of international courts is scrutinized by the domestic public within each state. That public has certain agendas, priorities and preferences. The domestic public’s agenda is a condition that the court must respond to, but sometimes courts can also shape that agenda to their benefit. (shrink)

This article examines whether recent immigrant women in the Israeli labor market are at a “double disadvantage”—first as immigrants and second as women—and whether and to what extent such disadvantages differ across ethnic and geocultural groups. Data were obtained from the last available population census. The analysis focuses on gender differences in employment opportunities among men and women who immigrated to Israel between 1979 and 1983. Data reveal that the double disadvantage of immigrant women is evident with regard to both (...) labor force participation and occupational attainment. Immigrant women are less likely than immigrant men to join the Israeli labor market, and they face much greater occupational loss. Data also reveal an interaction effect between gender and ethnicity. Immigrant women from the less developed countries in Asia and Africa constitute the most disadvantaged group. This group of women appears to be at a “triple disadvantage.”. (shrink)

In Judaism Straight Up, Moshe Koppel explores the central differences between traditional societies--including traditional Judaism--and contemporary cosmopolitan ones. He explains everything you always wanted to know about the subtleties of Jewish morality, tradition, and belief, and how these have unfolded to beat cosmopolitanism at its own game: advancing cooperation, fairness, and freedom. Written with incisiveness and droll wit--and a scientific sensibility that draws on economics, game theory, and other disciplines--Judaism Straight Up reveals the secret of Jewish traditionalism's endurance."--Page [4] (...) of cover. (shrink)

"In the gorgeous and rugged terrain of Jewish thought, there is no higher mountain to climb than Maimonides, and no more slippery or exhilarating ascent. Halbertal has made it all the way to the top, and his survey of the whole of the Maimonidean landscape is trustworthy and masterful. This is the richest and most intellectually sophisticated book on Maimonides I have ever read."--Leon Wieseltier "In this learned and penetrating work, Halbertal offers us a Maimonides who draws on the dominant (...) Greco-Islamic thought of his time while creating a system of thought that is fully Jewish. He shows us how the early "Commentary on the Mishnah" links up with the "Mishneh Torah" and with the "Guide of the Perplexed," written at the end of his life, to form an unexpected and radical intellectual unity. Beautifully written, "Maimonides" brings out both Maimonides's intellectual success and the paradoxical critical approaches to him after his death."--David J. Wasserstein, Vanderbilt University "Insightful and learned. Halbertal is perhaps the leading philosopher of Jewish law today. His book on Maimonides, like his other writings, reflects wide erudition and is written clearly and sharply."--Warren Zev Harvey, professor emeritus, Hebrew University of Jerusalem "Displaying the marvelous depth and clarity that mark all his work, Halbertal explains in abundant detail the transformations that Maimonides sought to effect in the Jewish world. He provides incisive interpretations of both legal and philosophical writings, yet he is also a biographer, binding together Maimonides's life, self-perception, and intellectual agenda. This is an exceptionally rich book, one that offers fresh perspectives for experts and a highly accessible introduction for general readers."--David Shatz, Yeshiva University "An outstanding and thrilling portrait of Maimonides. Halbertal's analytic lucidity and psychological depth are singular, and his talents are abundantly apparent on every page. This is an extraordinary book."--Menachem Lorberbaum, Tel Aviv University. (shrink)

Vardi, M.Y., Verification of concurrent programs: the automata-theoretic framework, Annals of Pure and Applied Logic 51 79–98. We present an automata-theoretic framework to the verification of concurrent and nondeterministic programs. The basic idea is that to verify that a program P is correct one writes a program A that receives the computation of P as input and diverges only on incorrect computations of P. Now P is correct if and only if a program PA, obtained by combining P and A, (...) terminates. We formalize this idea in a framework of ω-automata with a recursive set of states. This unifies previous works on verification of fair termination and verification of temporal properties. (shrink)

Answers to the questions of what justifies conscientious objection in medicine in general and which specific objections should be respected have proven to be elusive. In this paper, I develop a new framework for conscientious objection in medicine that is based on the idea that conscience can express true moral claims. I draw on one of the historical roots, found in Adam Smith’s impartial spectator account, of the idea that an agent’s conscience can determine the correct moral norms, even if (...) the agent’s society has endorsed different norms. In particular, I argue that when a medical professional is reasoning from the standpoint of an impartial spectator, his or her claims of conscience are true, or at least approximate moral truth to the greatest degree possible for creatures like us, and should thus be respected. In addition to providing a justification for conscientious objection in medicine by appealing to the potential truth of the objection, the account advances the debate regarding the integrity and toleration justifications for conscientious objection, since the standard of the impartial spectator specifies the boundaries of legitimate appeals to moral integrity and toleration. The impartial spectator also provides a standpoint of shared deliberation and public reasons, from which a conscientious objector can make their case in terms that other people who adopt this standpoint can and should accept, thus offering a standard fitting to liberal democracies. (shrink)

This essay develops Slavoj Žižek’s critique of Quentin Meillassoux’s speculative materialism. The first part consists of a discussion of Meillassoux’s ‘principle of factiality’ (which states that only contingency is necessary) and Ray Brassier’s problematization of this principle’s self-referentiality. The second part takes up Žižek’s critique of Meillassoux, which solves the problem of self-reference by dialecticizing the principle of factiality, ending up with the thesis of the contingency of necessity. The third part is an elaboration of Žižek’s critique in which the (...) main lacuna in Meillassoux’s philosophy, i.e. the lack of any account of the genesis of subjectivity, is seen to lead to a disavowal of ‘constitutive mythology’ as theorized by Markus Gabriel. It is argued that Meillassoux’s notion of ‘hyper-Chaos’ is in fact the core of his mythology, which becomes especially clear when contrasted with an alternative mythology, namely Henri Bergson’s vision of ‘creative evolution’. Finally, it is shown how Žižek’s critique of Meillassoux gravitates toward this mythology of creative evolution as his Lacanian version of dialectical materialism is reformulated in the light of the speculative realist problematic. (shrink)