Following the financial crisis of 2008, the Treasury Committee of the UK House of Commons undertook an inquiry into the lessons that might be learned from the banking crisis. Paul Moore, head of group regulatory risk at Halifax Bank of Scotland during 2002–2005, provided evidence of his experience of questioning HBOS policies which resulted in his dismissal from HBOS. The problems that surfaced at HBOS during the financial crisis were so serious that it was forced to merge with Lloyds TSB, (...) another UK bank, to form the Lloyds Banking Group in which the government took a significant stake. Moore’s evidence to the Treasury Committee revealed that long before the financial crisis, he had raised major concerns with the management of HBOS and with the Financial Services Authority, the UK financial services regulator. Moore’s evidence led to the submission of further disclosures, replies and rejoinders as evidence to the Treasury Committee. Moore’s case is therefore of considerable interest to researchers of whistleblowing because it is a rare instance of high-level whistleblowing, the details of which subsequently entered the public domain. The information revealed in evidence to the Treasury Committee sheds light on the process of whistleblowing in the context of the governance and regulation of a major UK bank that subsequently had to be rescued by government intervention during the financial crisis. The paper makes a contribution to the wider literature on whistleblowing, and to a greater understanding of aspects of the financial crisis. (shrink)

In this paper I give conditions under which a matrix characterisation of validity is correct for first order logics where quantifications are restricted by statements from a theory. Unfortunately the usual definition of path closure in a matrix is unsuitable and a less pleasant definition must be used. I derive the matrix theorem from syntactic analysis of a suitable tableau system, but by choosing a tableau system for restricted quantification I generalise Wallen's earlier work on modal logics. The tableau system (...) is only correct if a new condition I call alphabetical monotonicity holds. I sketch how the result can be applied to a wide range of logics such as first order variants of many standard modal logics, including non-serial modal logics. (shrink)

In this paper, we challenge one of the criticisms against the idea of a universal basic income, namely, that people will waste the support on high-end consumption. We rely on the literature from various disciplines from which we developed high- and low-UBI scenarios for respondents to decide what they would do if the state were to provide an unconditional stipend. We analyzed the multiple-choice responses, using an ordered probit, and the written explanations of the respondents’ choices, using content analysis. The (...) results suggest that while a higher UBI would increase consumption, it would likely be done responsibly. People with low incomes showed restraint in all categories. The qualitative analysis captures some of the complexities of people’s socioeconomic circumstances that support the notion of responsible consumption. The policy implication is that a UBI could be introduced at a low level and gradually increased to a level that maximizes societal benefits. (shrink)

When incorporating the environment into mental processing (cf., cognitive offloading), one creates novel cognitive strategies that have the potential to improve task performance. Improved performance can, for example, mean faster problem solving, more accurate solutions, or even higher grades at university.1 Although cognitive offloading has frequently been associated with improved performance, it is yet unclear how flexible problem solvers are at matching their offloading habits with their current performance goals (can people improve goal‐related instead of generic performance, e.g., when being (...) in a hurry and aiming for a “quick and dirty” solution?). Here, we asked participants to solve a cognitive task, provided them with different goals—maximizing speed (SPD) or accuracy (ACC), respectively—and measured how frequently (Experiment 1) and how proficiently (Experiment 2) they made use of a novel external resource to support their cognitive processing. Experiment 1 showed that offloading behavior varied with goals: Participants offloaded less in the SPD than in the ACC condition. Experiment 2 showed that this differential offloading behavior was associated with high goal‐related performance: fast answers in the SPD, accurate answers in the ACC condition. Simultaneously, goal‐unrelated performance was sacrificed: inaccurate answers in the SPD, slow answers in the ACC condition. The findings support the notion of humans as canny offloaders who are able to successfully incorporate their environment in pursuit of their current cognitive goals. Future efforts should be focused on the finding's generalizability, for example, to settings without feedback or with high mental workload. (shrink)

Some argue the common practice of inferring multiple processes or systems from a dissociation is flawed. One proposed solution is state-trace analysis, which involves plotting, across two or more conditions of interest, performance measured by either two dependent variables, or two conditions of the same dependent measure. The resulting analysis is considered to provide evidence that either a single process underlies performance or there is evidence for more than one process. This article reports simulations using the simple recurrent network in (...) which changes to the learning rate produced state-trace plots with multiple functions. We also report simulations using a single-layer error-correcting network that generate plots with a single function. We argue that the presence of different functions on a state-trace plot does not necessarily support a dual-system account, at least as typically defined ; it can also indicate variation in a single parameter within theories generally considered to be single-system accounts. (shrink)

This monograph examines the domain of classical political economy using the methodologies developed in recent years both by the new discipline of econo-physics and by computing science. This approach is used to re-examine the classical subdivisions of political economy: production, exchange, distribution and finance. The book begins by examining the most basic feature of economic life – production – and asks what it is about physical laws that allows production to take place. How is it that human labour is able (...) to modify the world? It looks at the role that information has played in the process of mass production and the extent to which human labour still remains a key resource. The Ricardian labour theory of value is re-examined in the light of econophysics, presenting agent based models in which the Ricardian theory of value appears as an emergent property. The authors present models giving rise to the class distribution of income, and the long term evolution of profit rates in market economies. Money is analysed using tools drawn both from computer science and the recent Chartalist school of financial theory. Covering a combination of techniques drawn from three areas, classical political economy, theoretical computer science and econophysics, to produce models that deepen our understanding of economic reality, this new title will be of interest to higher level doctoral and research students, as well as scientists working in the field of econophysics. (shrink)

Memory conformity may occur when a person’s belief in another’s memory report outweighs their belief in their own. Witnesses might be less likely to believe and therefore take on false information from intoxicated co-witnesses, due to the common belief that alcohol impairs memory performance. This paper presents an online study in which participants watched a video of a mock crime taking place outside a pub that included a witness either visibly consuming wine or a soft drink. Participants then read a (...) statement from the witness that varied in the number of false details it contained before being asked to recall the crime. We found that the intoxicated witness was regarded as significantly less credible, but participants were not less likely to report misinformation from them. This suggests that intoxication status impacts one’s perception of how credible a source is, but not one’s ability to reject false suggestions from this source. Our findings reinforce the importance of minimizing co-witness discussion prior to interview, and not to assume that people automatically discount information provided by intoxicated co-witnesses. (shrink)

This monograph examines the domain of classical political economy using the methodologies developed in recent years both by the new discipline of econo-physics and by computing science. This approach is used to re-examine the classical subdivisions of political economy: production, exchange, distribution and finance. The book begins by examining the most basic feature of economic life – production – and asks what it is about physical laws that allows production to take place. How is it that human labour is able (...) to modify the world? It looks at the role that information has played in the process of mass production and the extent to which human labour still remains a key resource. The Ricardian labour theory of value is re-examined in the light of econophysics, presenting agent based models in which the Ricardian theory of value appears as an emergent property. The authors present models giving rise to the class distribution of income, and the long term evolution of profit rates in market economies. Money is analysed using tools drawn both from computer science and the recent Chartalist school of financial theory. Covering a combination of techniques drawn from three areas, classical political economy, theoretical computer science and econophysics, to produce models that deepen our understanding of economic reality, this new title will be of interest to higher level doctoral and research students, as well as scientists working in the field of econophysics. (shrink)

he design-based approach is a methodology for investigating mechanisms capable of generating mental phenomena, whether introspectively or externally observed, and whether they occur in humans, other animals or robots. The study of designs satisfying requirements for autonomous agency can provide new deep theoretical insights at the information processing level of description of mental mechanisms. Designs for working systems (whether on paper or implemented on computers) can systematically explicate old explanatory concepts and generate new concepts that allow new and richer interpretations (...) of human phenomena. To illustrate this, some aspects of human grief are analysed in terms of a particular information processing architecture being explored in our research group. We do not claim that this architecture is part of the causal structure of the human mind; rather, it represents an early stage in the iterative search for a deeper and more general architecture, capable of explaining more phenomena. However even the current early design provides an interpretative ground for some familiar phenomena, including characteristic features of certain emotional episodes, particularly the phenomenon of perturbance (a partial or total loss of control of attention). The paper attempts to expound and illustrate the design-based approach to cognitive science and philosophy, to demonstrate the potential effectiveness of the approach in generating interpretative possibilities, and to provide first steps towards an information processing account of `perturbant', emotional episodes. (shrink)