This article argues that the field of asset pricing theory is undergoing a scientific revolution in Kuhnian terms. The orthodox view is one of determinate change in causal processes and inherent stability whereby financial markets, left unfettered, allocate nearly perfectly society's scare capital. However, decades of mounting anomalous evidence against the implications of stable causal processes perpetuated by conventional models based on efficient markets and the rational expectations hypothesis have paved the way for alternative avenues of research. Although various approaches (...) are being developed, the imperfect knowledge economics class of models has emerged as a potential new paradigm in the field of macro-finance. By stopping short of fixing in advance the specification of individual forecasting behavior and the causal process, the IKE class of models has been able to reconcile many of the puzzles found within the literature on asset price behavior and risk. (shrink)

In VAGUENESS AND DEGREES OF TRUTH, Nicholas Smith develops a new theory of vagueness: fuzzy plurivaluationism. -/- A predicate is said to be VAGUE if there is no sharply defined boundary between the things to which it applies and the things to which it does not apply. For example, 'heavy' is vague in a way that 'weighs over 20 kilograms' is not. A great many predicates -- both in everyday talk, and in a wide array of theoretical vocabularies, from (...) law to psychology to engineering -- are vague. -/- Smith argues, based on a detailed account of the defining features of vagueness, that an accurate theory of vagueness must involve the idea that truth comes in degrees. The core idea of degrees of truth is that while some sentences are true and some are false, others possess intermediate truth values: they are truer than the false sentences, but not as true as the true ones. Degree-theoretic treatments of vagueness have been proposed in the past, but all have encountered significant objections. In light of these, Smith develops a new type of degree theory. Its innovations include a definition of logical consequence that allows the derivation of a classical consequence relation from the degree-theoretic semantics, a unified account of degrees of belief and their relationships with degrees of truth and subjective probabilities, and the incorporation of semantic indeterminacy -- the view that vague statements need not have unique meanings -- into the degree-theoretic framework. -/- As well as being essential reading for those working on vagueness, Smith's book provides an excellent entry-point for newcomers to the area -- both from elsewhere in philosophy, and from computer science, logic and engineering. It contains a thorough introduction to existing theories of vagueness and to the requisite logical background. (shrink)

This article uncovers a foundational relationship between the ‘gauge symmetry’ of a Newton-Cartan theory and the celebrated Trautman Recovery Theorem and explores its implications for recent philosophical work on Newton-Cartan gravitation.

Orthodoxy has it that mereological composition can never be a vague matter, for if it were, then existence would sometimes be a vague matter too, and that's impossible. I accept that vague composition implies vague existence, but deny that either is impossible. In this paper I develop degree-theoretic versions of quantified modal logic and of mereology, and combine them in a framework that allows us to make clear sense of vague composition and vague existence, and the relationships between them.

Postmodernism and poststructuralism challenge fundamental positions in social theory. This book sets out some of the components of a postmodern social theory of health and healing, deriving from theorists including Derrida, Deleuze and Guattari, Foucault, Cixous and Kristeva. Nicholas J. Fox observes that the knowledge of the medical profession about the body, illness and health supplies the basis for medical dominance. The body of the patient is inscribed by discourses of professional `care,' an interaction which subjectifies the patient. Fox (...) explores the character of this power - and how it may be, and is, resisted. The book illustrates with detailed examples how the organization of health care and the caring relationship itself are sites for this contestation of power. Elements of feminist theory, and Derridean concepts of diffrance and intertextuality, supply the framework for the politics and ethics of the postmodern position on health. Deleuze and Guattari's radical challenge to psychoanalysis and familial repetitions within the healer/patient contact allows a re-reading of central ideas in medical sociology. While focusing upon the possibilities of postmodern social theory, the book demands a reappraisal of issues of structure, identity and knowledge in modernist medical sociology. Modernist sociology, Fox suggests, has been complicit in the creation of `the patient,' and of 'health' and 'illness.' Written with an emphasis on accessibility, this book explores the practical consequences of postmodern theory as well as familiarizing the reader with the concepts of postmodernism. (shrink)

As a prolegomenon to understanding the sense in which dualities are theoretical equivalences, we investigate the intuitive `equivalence' of hyper-regular Lagrangian and Hamiltonian classical mechanics. We show that the symplectification of these theories provides a sense in which they are isomorphic, and mutually and canonically definable through an analog of `common definitional extension'.

This paper defends the idea that there might be vagueness or indeterminacy in the world itself--as opposed to merely in our representations of the world--against the charges of incoherence and unintelligibility. First we consider the idea that the world might contain vague properties and relations ; we show that this idea is already implied by certain well-understood views concerning the semantics of vague predicates (most notably the fuzzy view). Next we consider the idea that the world might contain vague objects (...) ; we argue that an object is indeterminate in a certain respect (colour, size, etc.) just in case it is a borderline case of a maximally specific colour (size, etc.) property. Finally we consider the idea that the world as a whole might be indeterminate; we argue that the world is indeterminate just in case it lacks a determinate division into determinate objects. (shrink)

In this superb introduction, Nicholas Dent covers the whole of Rousseau's thought. Beginning with a helpful overview of Rousseau's life and works, he introduces and assesses Rousseau's central ideas and arguments. These include the corruption of modern civilization, the state of nature, his famous theories of _amour de soi _and _amour propre_, education, and his famous work _Emile_. He gives particular attention to Rousseau's theories of democracy and freedom found in his most celebrated work, _The Social Contract_, and explains (...) what Rousseau meant by the 'general will'. (shrink)

In this paper I present a new argument against vague identity — one that is more fundamental than existing arguments — and I also try to explain why we find the idea of vague identity puzzling, in a way that will dispel the puzzlement. In brief, my argument is this: to make clear sense of something, one must at least model it set-theoretically; but due to the special place of identity in set-theoretic models, any vague relation that one does model (...) set-theoretically will not be identity, for real identity will already be there, built into the background of the model, and perfectly precise. (shrink)

From Fine and Kamp in the 70’s—through Osherson and Smith in the 80’s, Williamson, Kamp and Partee in the 90’s and Keefe in the 00’s—up to Sauerland in the present decade, the objection continues to be run that fuzzy logic based theories of vagueness are incompatible with ordinary usage of compound propositions in the presence of borderline cases. These arguments against fuzzy theories have been rebutted several times but evidently not put to rest. I attempt to do so in this (...) paper. (shrink)

This paper presents a new solution to the problems for orthodox decision theory posed by the Pasadena game and its relatives. I argue that a key question raised by consideration of these gambles is whether evaluative compositionality (as I term it) is a requirement of rationality: is the value that an ideally rational agent places on a gamble determined by the values that she places on its possible outcomes, together with their mode of composition into the gamble (i.e. the probabilities (...) assigned to them)? The paper first outlines a certain simple response to the Pasadena game and identifies two problems with this response, the second of which is that it leads to a wholesale violation of evaluative compositionality. I then argue that rationality does not require decision makers to factor in outcomes of arbitrarily low probability. A method for making decisions which flows from this basic idea is then developed, and it is shown that this decision method (Truncation) leads to a limited — as opposed to wholesale — violation of evaluative compositionality. The paper then argues that the truncation method yields solutions to the problems posed by the Pasadena game and its relatives that are both attractive in themselves and superior to those yielded by alternative proposals in the literature. (shrink)

This paper presents a new argument against A-theories of time. A-theorists hold that there is an objective now (present moment) and an objective flow of time, the latter constituted by the movement of the objective now through time. A-theorists therefore want to draw different pictures of reality—showing the objective now in different positions—depending upon the time at which the picture is drawn. In this paper it is argued that the times at which the different pictures are drawn may be taken (...) to be normal times or hypertimes. If they are normal times then the A-theory is inconsistent, or else collapses to the B-theory—and appealing to primitive tense operators will not help A-theorists avoid this conclusion. If the times are hypertimes then the A-theory is consistent, but deeply problematic none the less. (shrink)

This article investigates and resolves the question whether gauge symmetry can display analogs of the famous Galileo’s ship scenario. In doing so, it builds on and clarifies the work of Greaves and Wallace on this subject.

When considering other persons, the human mind draws from folk theories of biology, physics, and psychology. Studies have examined the extent to which people utilize these folk theories in inferring whether or not God has human-like biological, physical, and psychological constraints. However, few studies have examined the way in which these folk attributions relate to each other, the extent to which attributions within a domain are consistent, or whether cultural factors influence human-like attributions within and across domains. The present study (...) assessed 341 individuals’ attributions of anthropomorphic properties to God in three domains (psychological, biological, and physical), their religious beliefs, and their engagement in religious practices. Three Confirmatory Factor Analyses tested hypothetical models of the underlying structure of an anthropomorphic concept of God. The best fitting model was the “Hierarchical Dimensions Concept,” the analyses indicated one overall dimension of anthropomorphism with three sub-domains. Additionally, participants’ religiosity was negatively related to attributing human-like psychological properties to God, suggesting that the more people engage with their religion, the less they think about God as having a ‘human-like’ mind. Religiosity was positively related to individual consistency scores in the biological domain. In other words, greater religiosity was related to less consistent answers about God’s biological properties. As a result, the findings of the current study also suggest that individuals do not just vary between each other in how much they anthropomorphize God, but additionally, variation exists in the type of anthropomorphic reasoning used within an individual person’s concept of God. (shrink)

Beyond Health applies post-structuralist and postmodern ideas to issues of health and health care to provide a radical re-think of how health is to be understood. It offers a perspective in which health is seen as an affirmation of potential rather than as a narrow biopsychosocial construct. The author develops his notion of arche-health and in so doing provides a lucid account of a wide range of post-structuralist and postmodern theoretical perspectives and their relevance to the field of health. This (...) text explains complex ideas so even a reader with no previous background in the topic can grasp it. In each chapter the author explains and applies a selection of theoretical perspectives. (shrink)

In his celebrated article on the contrary-to-fact conditional Roderick Chisholm makes the following astute observation.

I have argued for a picture of decision theory centred on the principle of Rationally Negligible Probabilities. Isaacs argues against this picture on the grounds that it has an untenable implication. I first examine whether my view really has this implication; this involves a discussion of the legitimacy or otherwise of infinite decisions. I then examine whether the implication is really undesirable and conclude that it is not.

One of the most striking differences between Frege's Begriffsschrift (logical system) and standard contemporary systems of logic is the inclusion in the former of the judgement stroke: a symbol which marks those propositions which are being asserted , that is, which are being used to express judgements . There has been considerable controversy regarding both the exact purpose of the judgement stroke, and whether a system of logic should include such a symbol. This paper explains the intended role of the (...) judgement stroke in a way that renders it readily comprehensible why Frege insisted that this symbol was an essential part of his logical system. The key point here is that Frege viewed logic as the study of inference relations amongst acts of judgement , rather than – as in the typical contemporary view – of consequence relations amongst certain objects (propositions or well-formed formulae). The paper also explains why Frege's use of the judgement stroke is not in conflict with his avowed anti-psychologism, and why Wittgenstein's criticism of the judgement stroke as 'logically quite meaningless' is unfounded. The key point here is that while the judgement stroke has no content , its use in logic and mathematics is subject to a very stringent norm of assertion. (shrink)

Graham Priest (1994) has argued that the following paradoxes all have the same structure: Russell’s Paradox, Burali-Forti’s Paradox, Mirimanoff’s Paradox, König’s Paradox, Berry’s Paradox, Richard’s Paradox, the Liar and Liar Chain Paradoxes, the Knower and Knower Chain Paradoxes, and the Heterological Paradox. Their common structure is given by Russell’s Schema: there is a property φ and function δ such that..

This paper presents and defends a definition of vagueness, compares it favourably with alternative definitions, and draws out some consequences of accepting this definition for the project of offering a substantive theory of vagueness. The definition is roughly this: a predicate 'F' is vague just in case for any objects a and b, if a and b are very close in respects relevant to the possession of F, then 'Fa' and 'Fb' are very close in respect of truth. The definition (...) is extended to cover vagueness of many-place predicates, of properties and relations, and of objects. Some of the most important advantages of the definition are that it captures the intuitions which motivate the thought that vague predicates are tolerant, without leading to contradiction, and that it yields a clear understanding of the relationships between higher-order vagueness, sorites susceptibility, blurred boundaries, and borderline cases. The most notable consequence of the definition is that the correct theory of vagueness must countenance degrees of truth. (shrink)

This paper presents a new theory of vagueness, which is designed to retain the virtues of the fuzzy theory, while avoiding the problem of higher-order vagueness. The theory presented here accommodates the idea that for any statement S₁ to the effect that 'Bob is bald' is x true, for x in [0, 1], there should be a further statement S₂ which tells us how true S₁ is, and so on - that is, it accommodates higher-order vagueness without resorting to the (...) claim that the metalanguage in which the semantics of vagueness is presented is itself vague, and without requiring us to abandon the idea that the logic - as opposed to the semantics - of vague discourse is classical. I model the extension of a vague predicate P as a blurry set, this being a function which assigns a degree of membership or degree function to each object o, where a degree function in turn assigns an element of [0, 1] to each finite sequence of elements of [0, 1]. The idea is that the assignment to the sequence (0.3, 0.2), for example, represents the degree to which it is true to say that it is 0.2 true that o is P to degree 0.3. The philosophical merits of my theory are discussed in detail, and the theory is compared with other extensions and generalisations of fuzzy logic in the literature. (shrink)

In this paper, I discuss one form of the idea that spacetime and gravity might ‘emerge’ from quantum theory, i.e. via a holographic duality, and in particular via AdS/CFT duality. I begin by giving a survey of the general notion of duality, as well as its connection to emergence. I then review the AdS/CFT duality and proceed to discuss emergence in this context. We will see that it is difficult to find compelling arguments for the emergence of full quantum gravity (...) from gauge theory via AdS/CFT, i.e. for the boundary theory's being metaphysically more fundamental than the bulk theory. (shrink)

Logic is essential to correct reasoning and also has important theoretical applications in philosophy, computer science, linguistics, and mathematics. This book provides an exceptionally clear introduction to classical logic, with a unique approach that emphasizes both the hows and whys of logic. Here Nicholas Smith thoroughly covers the formal tools and techniques of logic while also imparting a deeper understanding of their underlying rationales and broader philosophical significance. In addition, this is the only introduction to logic available today that (...) presents all the major forms of proof--trees, natural deduction in all its major variants, axiomatic proofs, and sequent calculus. The book also features numerous exercises, with solutions available on an accompanying website. -/- Logic is the ideal textbook for undergraduates and graduate students seeking a comprehensive and accessible introduction to the subject. -/- Provides an essential introduction to classical logic Emphasizes the how and why of logic Covers both formal and philosophical issues Presents all the major forms of proof--from trees to sequent calculus Features numerous exercises, with solutions available online The ideal textbook for undergraduates and graduate students . (shrink)

The fossil record plays a key role in reconstructing deep evolutionary relationships through its documentation of the early diverging stem groups leading to extant phyla. In the middle Cambrian Burgess Shale, two famously problematic worms, Odontogriphus and Wiwaxia, have recently been reinterpreted as stem‐group molluscs based on their shared expression of a putative radula and putative ctenidia in Odontogriphus.1 More detailed analysis of these fossil structures, however, reveals pronounced anatomical and histological discrepancies with molluscan analogues, such that they are more (...) reliably interpreted as primitive features of the superphylum Lophotrochozoa. In the absence of any obviously derived characters, Odontogriphus could be placed in the stem group of the Lophotrochozoa or on the stem of any of its constituent phyla, whereas the dorsal covering of chaetae in Wiwaxia identifies it as a stem‐group polychaete. Despite their close relationship, these two jawed, segmented worms could conceivably represent the early stages of two separate phyla. BioEssays 28: 1161–1166, 2006. © 2006 Wiley Periodicals, Inc. (shrink)

At Providence St. Joseph Health in Oregon, many factors contribute to the integration and success of the ethics services. There are three principal lenses through which one can understand the distinct way in which the ethics services are operationalized and integrated: the theological foundations of ethics as a service, the institutional ecology, and the professionalization of the field of health care ethics. The authors review key realities that have shaped their work through these three lenses and then describe the activities (...) of the Providence Center for Health Care Ethics regarding its strategic objectives and clinical and administrative integration. (shrink)

A common objection to theories of vagueness based on fuzzy logics centres on the idea that assigning a single numerical degree of truth -- a real number between 0 and 1 -- to each vague statement is excessively precise. A common objection to Bayesian epistemology centres on the idea that assigning a single numerical degree of belief -- a real number between 0 and 1 -- to each proposition is excessively precise. In this paper I explore possible parallels between these (...) objections. In particular I argue that the only good objection along these lines to fuzzy theories of vagueness does not translate into a good objection to Bayesian epistemology. An important part of my argument consists in drawing a distinction between two different notions of degree of belief, which I call dispositional degree of belief and epistemic degree of belief. (shrink)

This paper argues that the most famous objection to backward time travel can carry no weight. In its classic form, the objection is that backward time travel entails the occurrence of impossible things, such as auto-infanticide—and hence is itself impossible. David Lewis has rebutted the classic version of the objection: auto-infanticide is prevented by coincidences, such as time travellers slipping on banana peels as they attempt to murder their younger selves. I focus on Paul Horwich‘s more recent version of the (...) objection, according to which backward time travel entails not impossible things, but improbable ones—such as the string of slips on banana peels that would be required to stop a determined auto-infanticidal maniac from murdering her younger self—and hence is itself highly improbable. I argue that backward time travel does not entail unusual numbers of coincidences; and that, even if it did, that would not render its occurrence unlikely. (shrink)

Study on the logic of normative discourse.

Simply put, charter schools have not lived up to their advocates’ promise of equity. Using examples of tangible civil rights gains of the twentieth century and extending feminist theories of invisible labor to include the labor of democracy, the authors argue that the charter movement renders invisible the labor that secured civil protections for historically marginalized groups. The charter movement hangs a quality public education—previously recognized as a universal guarantee—on the education consumer’s ability to navigate a marketplace. The authors conclude (...) that the neoliberal agenda of positioning choice as the best mechanism for securing an education rolls back the rights that were already secured through the labor of democracy. (shrink)

A many-valued (aka multiple- or multi-valued) semantics, in the strict sense, is one which employs more than two truth values; in the loose sense it is one which countenances more than two truth statuses. So if, for example, we say that there are only two truth values—True and False—but allow that as well as possessing the value True and possessing the value False, propositions may also have a third truth status—possessing neither truth value—then we have a many-valued semantics in the (...) loose but not the strict sense. A many-valued logic is one which arises from a many-valued semantics and does not also arise from any two-valued semantics [Malinowski, 1993, 30]. By a ‘logic’ here we mean either a set of tautologies, or a consequence relation. We can best explain these ideas by considering the case of classical propositional logic. The language contains the usual basic symbols (propositional constants p, q, r, . . .; connectives ¬, ∧, ∨, →, ↔; and parentheses) and well-formed formulas are defined in the standard way. With the language thus specified—as a set of well-formed formulas—its semantics is then given in three parts. (i) A model of a logical language consists in a free assignment of semantic values to basic items of the non-logical vocabulary. Here the basic items of the non-logical vocabulary are the propositional constants. The appropriate kind of semantic value for a proposition is a truth value, and so a model of the language consists in a free assignment of truth values to basic propositions. Two truth values are countenanced: 1 (representing truth) and 0 (representing falsity). (ii) Rules are presented which determine a truth value for every proposition of the language, given a model. The most common way of presenting these rules is via truth tables (Figure 1). Another way of stating such rules—which will be useful below—is first to introduce functions on the truth values themselves: a unary function ¬ and four binary functions ∧, ∨, → and ↔ (Figure 2).. (shrink)

Is it always better to be active than passive? Is passivity a sign of cowardice - or prudence? Are people who keep their thoughts to themselves passive, or might they be actively preparing for well-considered future actions? Seemingly simple concepts turn out to be deeper and more significant than they first appear.

Violence and reason are related, if only because violence is done to reason every single day. All it takes is to fail to listen. Everything else, all the real violence, starts right there, including tough talk in lieu of rational argument and the violence of not allowing us to think things through. In a virtual conversation with other thoughtful people, we can evaluate and refine our own positions, gaining clarity and confidence.

"Rule" adopts the tradition of political philosophy begun by Socrates, refined by Xenophon and Plato. The book concentrates on something the characters call life-without-rule. What would that be? Is it a sort of utopia? How does it differ from anarchy? What makes it so appealing and what are the trade-offs?

If we think, as Ramsey did, that a degree of belief that P is a stronger or weaker tendency to act as if P, then it is clear that not only uncertainty, but also vagueness, gives rise to degrees of belief. If I like hot coffee and do not know whether the coffee is hot or cold, I will have some tendency to reach for a cup; if I like hot coffee and know that the coffee is borderline hot, I (...) will have some tendency to reach for a cup. Suppose that we take degrees of belief arising from uncertainty to obey the laws of probability and that we model vagueness using degrees of truth. We then encounter a problem: it does not look as though degrees of belief arising from vagueness should obey the laws of probability. One response would be to countenance two different sorts of degrees of belief: degrees of belief arising from uncertainty, which obey the laws of probability; and degrees of belief arising from vagueness, which obey a different set of laws. I argue, however, that if a degree of belief that P is a stronger or weaker tendency to act as if P, then this option is not open. Instead, I propose an account of the behaviour of degrees of belief that integrates subjective probabilities and degrees of truth. On this account, degrees of belief are expectations of degrees of truth. The account explains why degrees of belief behave in accordance with the laws of probability in cases involving only uncertainty, while also allowing degrees of belief to behave differently in cases involving only vagueness, and in mixed cases involving both uncertainty and vagueness. Justifications of the account are given both via Dutch books and in terms of epistemic accuracy. (shrink)

In this paper I present a new theory of propositions, according to which propositions are abstract mathematical objects: well-formed formulas together with models. I distinguish the theory from a number of existing views and explain some of its advantages  chief amongst which are the following. On this view, propositions are unified and intrinsically truth-bearing. They are mind- and language-independent and they are governed by logic. The theory of propositions is ontologically innocent. It makes room for an appropriate interface with (...) formal semantics and it does not enforce an overly fine or overly coarse level of granularity. (shrink)

This paper provides an overview of the Integrative Justice Model (IJM) for impoverished populations that was introduced in the marketing literature in the year 2009. The IJM was developed as a normative ethical framework to guide the growing corporate interest in the base of the pyramid (BoP) market to be fair and just to all parties but particularly the impoverished customer. In an impersonal marketplace that often exploits the less advantaged participant, the IJM provides five characteristics of “just” market situations. (...) These are an authentic non-exploitative engagement, value co-creation, investment in future consumption, stakeholder interest representation and long-term profit management. At the heart of the IJM is love that flows from a recognition of the inherent dignity of those at the BoP and the need to respect and uphold that dignity in the marketplace. The hope is that as companies embrace the IJM in their functioning it will result in a marketplace that is fair, just, humanistic and loving. (shrink)

In this note I raise a new problem for backwards time travel, and make some first suggestions as to how it might be solved. I call it the motivation problem. It is not a logical or a metaphysical problem, but a psychological one. It does not impact upon the possibility, or even the likelihood, of backwards time travel. Yet it is deeply puzzling, and we will have no idea what time travel would actually be like until we explore it. Thus, (...) where other problems for backward time travel assume that we know what time travel would be like, and argue that we cannot have it, this new problem gives us no reason to think that we cannot have time travel, but argues that we have much less idea than we usually suppose about what it would really be like to travel back in time. (shrink)