According to the Particularist Theory of Events, events are real things that have a spatiotemporal location. I argue that some events do not have a spatial location in the sense required by the theory. These events are ordinary, nonmental events like Smith’s investigating the murder and Carol’s putting her coat on the chair. I discuss the significance of these counterexamples for the theory.
This is a collection of the most important writings of Oxford philosopher H.H. Price on the topics of psychical research and survival of death, collected from a wide variety of sources unavailable to most interested readers. Included are discussions of telepathy, clairvoyance, telekinesis, precognition, hauntings and apparitions, the impact of psychical research on western philosophy and science, and what afterlife is probably like. Few twentieth century English-speaking philosophers have written much on these topics. Of those who did so and (...) whose writings have not been collected and published in a single source, H.H. Price was the most important. (shrink)
Each of the following sentences expresses a strong intuition about physical things: (a) a physical object is a three-dimensional spatial thing; (b) some physical things can, in the strict sense, remain the same thing through minor changes in their parts; (c) if x and y are physical things with the same spatiotemporal location, then x is strictly identical with y; (d) if x is a proper part of an existing physical thing and x occupies an occupiable region of space, then (...) x is itself an existing physical thing. There is a familiar argument that purports to prove that not all of (a)--(d) can be part of our ordinary concept of a physical thing. Its strategy for defending this claim is showing that at least one of (a)--(d) must-be false. The reason it gives for concluding that (a)--(d) are inconsistent is, appropriately, that they give rise to a paradox: according to the argument, (c) commits us to identifying products of a part-loss, yet (a), (b), and (d) yield the result that the products are different things. (shrink)
Price gouging occurs when, in the wake of an emergency, sellers of a certain necessary goods sharply raise their prices beyond the level needed to cover increased costs. Most people think that price gouging is immoral, and most states have laws rendering the practice a civil or criminal offense. The purpose of this paper is to explore some of the philosophic issues surrounding price gouging, and to argue that the common moral condemnation of it is largely mistaken. (...) I make this argument in three steps, by rebutting three widely held beliefs about the ethics of price gouging: 1) that laws prohibiting price gouging are morally justified, 2) that price gouging is morally impermissible behavior, even if it ought not be illegal, and 3) that price gouging reflects poorly on the moral character of those who engage in it, even if the act itself is not morally impermissible. (shrink)
Price gouging occurs when, in the wake of an emergency, sellers of a certain necessary goods sharply raise their prices beyond the level needed to cover increased costs. Most people think that price gouging is immoral, and most states have laws rendering the practice a civil or criminal offense. But the alleged wrongness of price gouging has been seriously under-theorized. This paper examines the argument that price gouging is morally objectionable and/or the proper subject of legal (...) regulation because of the context of market failure in which it occurs. It argues that even if claims of market failure or true, they do not generate these normative conclusions. (shrink)
A number of recent discussions have argued that George Price's equationfor representing evolutionary change is a powerful and illuminatingtool, especially in the context of debates about multiple levels ofselection. Our paper dissects Price's equation in detail, and comparesit to another statistical tool: the calculation and comparison ofaverage fitnesses. The relations between Price's equation and equationsfor evolutionary change using average fitness are closer than issometimes supposed. The two approaches achieve a similar kind ofstatistical summary of one generation of (...) change, and they achieve thisvia a similar loss of information about the underlying fitnessstructure. (shrink)
In the sixteenth and seventeenth centuries, members of the Salamanca School engaged in a sustained and sophisticated discussion of the issue of just prices. This article uses their contribution as a point of departure for a consideration of justice in pricing which will be relevant to current-day circumstances. The key theses of members of this school were that fairness of exchanges should be assessed objectively, that the fair price of an article is one equal to its ‘value’, and that (...) the best indicator of that value is the price that article commonly fetches in an open market. This article tries to bring to light the attractiveness of those views in order to guide current practice by contrasting them with alternative views, showing their connection with intuitively attractive basic standards, and linking them to commonly shared intuitions. (shrink)
In this article, ambiguity attitude is measured through the maximum price a decision maker is willing to pay to know the probability of an event. Two problems are examined in which the decision maker faces an act: in one case, buying information implies playing a lottery, while, in the other case, buying information gives also the option to avoid playing the lottery. In both decision settings, relying on the Choquet expected utility model, we study how the decision maker’s risk (...) and ambiguity attitudes affect the reservation price for ambiguity resolution. These effects are analyzed for different levels of ambiguity of the act. Operating instructions for the elicitation of the reservation price for ambiguity resolution in an experimental setting are provided at the end of the article. (shrink)
In this response, I reiterate my argument that price gouging undercuts the goal of equity in access to essential goods whereas Zwolinski emphasizes the importance of the efficient provision of essential goods above all other goals. I agree that the efficient provision of essential goods is important as I argue for the goal of equitable access to sufficient of the goods essential to living a minimally flourishing human life. However, efficiency is a means to this goal rather than the (...) end itself. Finally, I offer additional arguments against the non-worseness claim. (shrink)
The core goal of this study is to empirically investigate whether there is a “world price” of corporate sustainability. This is assessed in the context of standard asset pricing models—in particular, by asking whether a risk premium attaches to a sustainability factor after controlling for the Fama–French factors. Both time-series and cross-sectional tests are formulated and applied. The results show that (1) global Fama–French factors have strong power to explain global equity returns and (2) sustainability investments have no significant (...) impact on global equity returns. The absence of a significant relationship between sustainability and returns implies that large institutional investors are free to implement sustainability mandates without fear of breaching their fiduciary duties from realising negative returns due to incorporating a sustainability investment process. (shrink)
We consider fixed and asking price strategies in the context of selling an asset with Bernoullian updating of the seller’s subjective probability of sale at a given price. The determination of optimal fixed, asking and endogenous reservation prices is discussed under risk-neutrality and expected utility maximisation. With risk-neutrality, the optimal asking price exceeds the optimal fixed price when the expected gain is a strictly concave function. The seller’s choice between the fixed and the asking price (...) strategies depends on several factors: the expected cost of haggling, price competition and the seller’s attitude towards risk. (shrink)
The paper reports experimental data on the behavior in the first-price sealed-bid auction for a varying number of bidders when values and bids are private information. This feedback-free design is proposed for the experimental test of the one-shot game situation. We consider both within-subjects and between-subjects variations. In line with the qualitative risk neutral Nash equilibrium prediction, the data show that bids increase in the number of bidders. However, in auctions involving a small number of bidders, average bids are (...) above, and in auctions involving a larger number of bidders, average bids are below the risk neutral equilibrium prediction. The quartile analysis reveals that bidding behavior is not constant across the full value range for a given number of bidders. On the high value quartiles, however, the average bid–value ratio is not different from the risk neutral prediction. The behavior is different when the winning bid is revealed after each repetition. (shrink)
This paper studies welfare tradeoffs in two-sided, one-to-one matching markets. We begin by providing theoretical upper bounds on a utilitarian price of stability, and show that these bounds vary with the composition of participants’ ordinal preference lists. We then turn to simulation experiments to describe how changes in basic characteristics of agents’ preferences can increase or decrease the average price of stability as measured by both utilitarian and Rawlsian welfare criteria. Our results indicate that markets featuring moderate degrees (...) of correlation and positive intercorrelation in the preferences of participants exhibit the steepest tradeoffs between stability and utilitarian welfare and between stability and Rawlsian welfare. (shrink)
Times of crisis bring about increased demands on businesses as shortages, or unexpected but significant, business costs are encountered. Passing on such costs to consumers is a challenge. When faced with a retail price increase, consumers may rely on cues as to the motive behind the increase. Such cues can raise suspicion of alternative motive (e. g., taking advantage of the consumer) affecting consumers' judgments of price fairness. This research investigates two triggers of suspicion: salience of alternative motives, (...) and behavior judged to be out-of-character for the business. Results of the two studies within crisis contexts indicate that suspicion is created when alternative motives are salient and when a retailer acts out-of-character. Multiple group analyses revealed that suspicion induced negative affect and subsequent perceptions of price fairness. When suspicion was present, more negative feelings toward the retailer and judgments of price unfairness resulted. (shrink)
The life of George Price (1922-1975), the eccentric polymath genius and father of the Price equation, is used as a prism and counterpoint through which to consider an age-old evolutionary conundrum: the origins of altruism. This biographical project, and biography and history more generally, are considered in terms of the possibility of using form to convey content in particular ways. Closer to an art form than a science, this approach to scholarship presents both a unique challenge and promise.
In this paper I apply an old problem of Quine's (the inscrutability of reference in translation) to a new style of theory about mental content (causal/nomological/informational accounts of meaning) and conclude that no "naturalization" of content of the sort currently popular can solve Quine's "gavagai" enigma. I show how failure to solve the problem leads to absurd conclusions not about one's own mental life, but about the non-mental world. I discuss various ways of attempting to remedy the accounts so as (...) to avoid the problem and explain why each attempt at solving the problem would take the information theorists further from their self-assigned task of "naturalizing" semantics. (shrink)