Lowest-unique sealed-bid auctions are auctions with endogenous participation, costly bids, and the lowest bid among all unique bids wins. Properties of symmetric NEs are studied. The symmetric NE with the lowest expected gains is the maximin outcome under symmetric strategies, and it is the solution to a mathematical program. Comparative statics for the number of bidders, the value of the item and the bidding cost are derived. The two bidders’ auction is equivalent to the Hawk–Dove game. Simulations of replicator dynamics (...) provide numerical evidence that the symmetric NE with the lowest expected gains is also asymptotically stable. (shrink)

Lowest-unique sealed-bid auctions are auctions with endogenous participation, costly bids, and the lowest bid among all unique bids wins. Properties of symmetric NEs are studied. The symmetric NE with the lowest expected gains is the maximin outcome under symmetric strategies, and it is the solution to a mathematical program. Comparative statics for the number of bidders, the value of the item and the bidding cost are derived. The two bidders’ auction is equivalent to the Hawk–Dove game. Simulations of replicator dynamics (...) provide numerical evidence that the symmetric NE with the lowest expected gains is also asymptotically stable. (shrink)

Against the historically widespread view that divine conservation is a continuation of the act of creation, William Lane Craig argues that conservation is a different kind of act since, unlike creation ex nihilo, it is diachronic and it acts on a patient. Timothy Miller poses a timing objection against Craig's view, arguing that on such a view either the existence of a conserved entity is discontinuous, or the conserving activity overdetermines its effect, or the conserving activity is not continuous. The (...) present paper explores the options that remain for a diachronic, agent-patient account of conservation. It includes several models of conservation on which divine activity is continuous but not overdetermined since its effect at each time is something less specific than the existence of a created being at a time. (shrink)

Several themes of David Lewis's theory of counterfactuals, especially their sensitivity to context, pave the way for a viable theory of non-trivial counterpossibles. If Lewis was successful in defending his account against the early objections, a semantics of counterpossibles can be defended from similar objections in the same way. The resulting theory will be extended to address 'might' counterfactuals and questions about the relative "nearness" of impossible worlds.

Plausibly, no agent ever performs an action without some desire to perform that action. If so, a regress argument shows that, given incompatibilism, we are only rarely free. The argument sidesteps recent objections to this thesis.

Whether certain objects compose a whole at a given time does not seem to depend on anything other than the character of those objects and the relations between them. This observation suggests a far-reaching constraint on theories of composition. One version of the constraint has been explicitly adopted by van Inwagen and rules out his own answer to the composition question. The constraint also rules out the other well-known moderate answers that have so far been proposed.

The best arguments for possible worlds as states of affairs furnish us with equally good arguments for impossible worlds of the same sort. I argue for a theory of impossible worlds on which the impossible worlds correspond to maximal inconsistent classes of propositions. Three objections are rejected. In the final part of the paper, I present a menu of impossible worlds and explore some of their interesting formal properties.

Although agreement on the positive sign of the relationship between corporate social and financial performance is observed in the literature, the mechanisms that constitute this relationship are not yet well-known. We address this issue by extending management’s stakeholder theory by adding insights from psychology’s prospect decision theory and sociology’s resource dependence theory. Empirically, we analyze an extensive panel dataset, including information on disaggregated measures of social performance for the S&P 500 in the 1997–2002 period. In so doing, we enrich the (...) extant literature by focusing on stakeholder heterogeneity, perceptional framing, and disaggregated measures of corporate social performance. (shrink)

Plausibly, if an object persists through time, then its later existence must be caused by its earlier existence. Many theists endorse a theory of continuous creation, according to which God is the sole cause of a creature's existence at a given time. The conjunction of these two theses rather unfortunately implies that no object distinct from God persists at all. What strategies for resolving this difficulty are available? (Published Online April 7 2006).

The theory of possible worlds has permeated analytic philosophy in recent decades, and its best versions have a consequence which has gone largely unnoticed: in addition to the panoply of possible worlds, there are a great many impossible worlds. A uniform ontological method alone should bring the friends of possible worlds to adopt impossible worlds, I argue, but the theory's applications also provide strong incentives. In particular, the theory facilitates an account of counterfactuals which avoids several of the implausible results (...) of David Lewis's account, and it paves the way for the analogues of Kripkean semantics for epistemic and relevant logics. On the theories of possible worlds as abstract objects, worlds bear a strong resemblance to propositions. I contend that if there are distinct necessarily false propositions, then there are likewise distinct impossible worlds. However, one who regards possible worlds as concrete objects must not recognize impossible worlds, in part because concrete worlds cannot misrepresent certain features of reality, as some impossible worlds must. Accordingly, I defend and develop a theory of impossible worlds as maximal impossible states of affairs. Impossible worlds perform admirably in the analysis of counterfactuals with impossible antecedents. I argue that, contrary to standard accounts, not all counterpossibles are trivially true, and I develop a Lewis-style semantics which allows this result. The point is crucial, since many views presuppose that some counterpossibles are substantive philosophical truths. Finally, I show that impossible worlds hold great promise for doxastic and relevant logics. Epistemic logic needs a domain of propositions which is not closed under strict implication to avoid the problem of logical omniscience, and relevant logic needs such a domain to avoid the famous paradoxes of implication. In sum, impossible world theory promises natural, elegant solutions to philosophical problems in numerous areas where possible worlds alone flounder. These solutions come to most possible world theorists at no cost, since the existence of impossible worlds is entailed by theses they already hold. (shrink)

According to Brian Leftow's modal voluntarism, some necessary truths about created beings depend on the divine will. One might expect this view to be in tension with Molinism, according to which some contingent truths about creatures' free actions are independent of the divine will. It is argued that modal voluntarism is consistent with a lightly modified Molinism.

A recently advanced argument for purgatory hinges on the need for complete sanctification before one can enter heaven. The argument has a modal gap.The gap can be exploited to fashion a competing account of how sanctification occurs in the afterlife according to which it is in part a heavenly process.The competing account usefully complicates the overall case for purgatory and raises questions about how the notion ought to be understood.

Arguments concerning divine conservation and concurrence often assume that actions of certain descriptions would be superfluous if God were to perform them, and it is then concluded that God does not perform such actions. In particular, it often seems that atomic actions cannot be the result of cooperative activity between God and creatures since there is no apparent way to divide the labor between the two. However, the actions that are atomic in one model of divine action may not be (...) atomic on another. On fine-grained models there may be unexpected prospects for nonredundant divine action. (shrink)

The paper first formalizes the ramified type theory as (informally) described in the Principia Mathematica [32]. This formalization is close to the ideas of the Principia, but also meets contemporary requirements on formality and accuracy, and therefore is a new supply to the known literature on the Principia (like [25], [19], [6] and [7]).As an alternative, notions from the ramified type theory are expressed in a lambda calculus style. This situates the type system of Russell and Whitehead in a modern (...) setting. Both formalizations are inspired by current developments in research on type theory and typed lambda calculus; see [3]. (shrink)

In comparison with a highest attainable good, a future of everlasting progress may appear subjectively dissatisfying or objectively deficient. This is the satisfaction problem. I defend the progressive view against three strands of the satisfaction problem and argue that the notion of a highest good faces a satisfaction problem of its own.

The question we raise in this paper is, whether patient involvement might be a beneficial way to help determine and achieve the aims of translational research and, if so, how to proceed. TR is said to ensure a more effective movement of basic scientific findings to relevant and useful clinical applications. In view of the fact that patients are supposed to be the primary beneficiaries of such translation and also have relevant knowledge based on their experience, listening to their voice (...) early on in the innovation process might very well increase the effectiveness of the translation. After explaining how the concept of TR emerged and what it entails, this paper shows through a literature review which arguments have been put forward to promote patient involvement in health care research in a more general sense. We examine whether, and if so how, these arguments are relevant for the discourse on TR and we identify pitfalls and dilemmas. Ultimately, we conclude that it may be worthwhile to experiment with patient involvement in TR but that the design of such involvement requires careful consideration. (shrink)

In much of Christian thought humans are taken to have an ultimate end, understood as the highest attainable good. Christians also anticipate “the life everlasting.” Together these ideas generate a paradox. If the end can be reached in a finite amount of time, some longer-lasting state will be better still, so the purported end is not the highest good after all. But if the end is to possess some good forever, then it will never be reached. So it seems an (...) everlasting being cannot have an ultimate end—a conclusion that apparently makes human life pointless. How can the paradox be solved? (shrink)

This chapter focuses on one of the common fallacies in Western philosophy called “adverse consequences”. The argument from adverse consequences can be seen as an argument that is intended to be pragmatic ‐ about what we should do, not about what is true ‐ but then comes to the wrong kind of conclusion. In many genuinely pragmatic arguments, however, adverse consequences are relevant to the conclusion and no fallacy is committed. So it is important to notice exactly what the conclusion (...) of the argument is. (shrink)

This entry provides a brief exposition and formal reconstruction of the argument for possible worlds in David Lewis's _Counterfactuals_.

A brief account of David K. Lewis's argument for possible worlds in Counterfactuals and his elaboration of it in On the Plurality of Worlds.

In this article, we study the prehistory of type theory up to 1910 and its development between Russell and Whitehead's Principia Mathematica ([71], 1910-1912) and Church's simply typed λ-calculus of 1940. We first argue that the concept of types has always been present in mathematics, though nobody was incorporating them explicitly as such, before the end of the 19th century. Then we proceed by describing how the logical paradoxes entered the formal systems of Frege, Cantor and Peano concentrating on Frege's (...) Grundgesetze der Arithmetik for which Russell applied his famous paradox and this led him to introduce the first theory of types, the Ramified Type Theory (RTT). We present RTT formally using the modern notation for type theory and we discuss how Ramsey, Hilbert and Ackermann removed the orders from RTT leading to the simple theory of types STT. We present STT and Church's own simply typed λ-calculus (λ → C) and we finish by comparing RTT, STT and λ → C. (shrink)

Interest in the notion of the possible financial sacrifice suffered by socially responsible investment (SRI) fund investors for considering ethical, social and environmental issues in their investment decisions has spawned considerable academic interest in the performance of SRI funds. Both the Australian and international research literature have yielded largely mixed results. However, several of these studies are hampered by methodological problems which can obscure the significance of reported results, such as the use of small sample sizes, inconsistencies in the time (...) frames selected to analyse performance and different modelling frameworks used to estimate investment returns. This study attempts to redress some of these issues by investigating the returns performance of 89 ethical funds in Australia over the period 1986-2005. Using a multi-factor CAPM model [Fama, E. F., and K. R. French (1996) J. Finance 51(1), 55] (which controls for factors such as size, book-to-market value and momentum) we find that ethical funds significantly under-perform the market in Australia, particularly in the most recent 5 years of our sample period (2000-2005). Risk adjusted returns (using Jensen's alpha) indicate that average annual underperformance is around 1.52% in the 2000-2005 period for our sample and .88% over the whole sample period. Our results contrast with many previous studies (both Australian and international), which have not found statistically significant differences in the performance of ethical funds relative to market benchmarks and/or a matched sample of conventional funds. (shrink)

The label ‘Translational Research’ (TR) has become ever more popular in the biomedical domain in recent years. It is usually presented as an attempt to bridge a supposed gap between knowledge produced at the lab bench and its use at the clinical bedside. This is claimed to help society harvest the benefits of its investments in scientific research. The rhetorical as well as moral force of the label TR obscure, however, that it is actually used in very different ways. In (...) this paper, we analyse the scientific discourse on TR, with the aim to disentangle and critically evaluate the different meanings of the label. We start with a brief reconstruction of the history of the concept. Subsequently, we unravel how the label is actually used in a sample of scientific publications on TR and examine the presuppositions implied by different views of TR. We argue that it is useful to distinguish different views of TR on the basis of three dimensions, related to (1) the construction of the ‘translational gap’; (2) the model of the translational process; and (3) the cause of the perceived translational gap. We conclude that the motive to make society benefit from its investments in biomedical science may be laudable, but that it is doubtful whether the dominant views of TR will contribute to this end. (shrink)

In Russell''s Ramified Theory of Types RTT, two hierarchical concepts dominate:orders and types. The use of orders has as a consequencethat the logic part of RTT is predicative.The concept of order however, is almost deadsince Ramsey eliminated it from RTT. This is whywe find Church''s simple theory of types (which uses the type concept without the order one) at the bottom of the Barendregt Cube rather than RTT. Despite the disappearance of orders which have a strong correlation with predicativity, predicative (...) logic still plays an influential role in Computer Science.An important example is the proof checker Nuprl, which is basedon Martin-Löf''s Type Theory which uses type universes. Those type universes,and also degrees of expressions in AUTOMATH, are closely related toorders. In this paper, we show that orders have not disappeared from modern logic and computer science, rather, orders play a crucial role in understanding the hierarchy of modern systems. In order to achieve our goal, we concentrate on a subsystem of Nuprl.The novelty of our paper lies in: (1) a modest revival of Russell's orders, (2) the placing of the historical system RTT underlying the famous Principia Mathematica in a context with a modern system of computer mathematics (Nuprl) and modern type theories (Martin-Löf''s type theory and PTSs), and (3) the presentation of acomplex type system (Nuprl) as a simple and compact PTS. (shrink)

We develop a theory of compliance with corporate governance codes by combining insights from agency, network and reputation theories. Subsequently, we test this theory using a unique dataset with fine-grained compliance information for the book year 2004 as to 130 Dutch stock-listed corporations. We find partial support for our theory.

The label ‘Translational Research’ (TR) has become ever more popular in the biomedical domain in recent years. It is usually presented as an attempt to bridge a supposed gap between knowledge produced at the lab bench and its use at the clinical bedside. This is claimed to help society harvest the benefits of its investments in scientific research. The rhetorical as well as moral force of the label TR obscure, however, that it is actually used in very different ways. In (...) this paper, we analyse the scientific discourse on TR, with the aim to disentangle and critically evaluate the different meanings of the label. We start with a brief reconstruction of the history of the concept. Subsequently, we unravel how the label is actually used in a sample of scientific publications on TR and examine the presuppositions implied by different views of TR. We argue that it is useful to distinguish different views of TR on the basis of three dimensions, related to (1) the construction of the ‘translational gap’; (2) the model of the translational process; and (3) the cause of the perceived translational gap. We conclude that the motive to make society benefit from its investments in biomedical science may be laudable, but that it is doubtful whether the dominant views of TR will contribute to this end. (shrink)

This article discusses the set of Harsanyi payoff vectors of a cooperative TU-game, also known as the Selectope. We reconsider some results on Harsanyi payoff vectors within a more general framework. First, an intuitive approach is used, showing that the set of Harsanyi payoff vectors is the core of an associated convex game. Next, the set of individual rational Harsanyi payoff vectors, the Harsanyi imputations in short, is considered. Existence conditions are provided, and if non-empty, we provide a description as (...) the core of a well-defined convex game, and show that it is an externally stable set. (shrink)

Drawing on calls by researchers to examine corporate scandals involving potential conflicts of interest or compromise to professional independence involving the actuarial profession, this article outlines one such case. The consulting actuaries – to a large Australian listed company, James Hardie Industries Limited – found themselves advising two parties in a corporate restructuring where the interests of each were sometimes competing and the interests of the public appeared to be ignored. The James Hardie case is instructive in a number of (...) ways: first, it demonstrates the subtlety with which conflicts of interest or pressures on professional independence can arise; second, it demonstrates how important professional issues can be obfuscated by more obvious and pressing financial and strategic issues; and finally it demonstrates that adherence to professional codes of conduct and the ease with which professional ethics can be compromised when those codes are vague and transgressions are rarely actionable. The James Hardie case highlights structural issues in the employment of consulting actuaries which presents risks to the profession. It demonstrates that the combination of an aggressive corporate management with a strategic agenda reliant on consulting actuaries that have a vested interest in promoting and maintaining valuable relationships, both financially and professionally, results in ethical challenges. (shrink)

Drawing on calls by researchers to examine corporate scandals involving potential conflicts of interest or compromise to professional independence involving the actuarial profession, this article outlines one such case. The consulting actuaries – to a large Australian listed company, James Hardie Industries Limited – found themselves advising two parties in a corporate restructuring where the interests of each were sometimes competing and the interests of the public appeared to be ignored. The James Hardie case is instructive in a number of (...) ways: first, it demonstrates the subtlety with which conflicts of interest or pressures on professional independence can arise; second, it demonstrates how important professional issues can be obfuscated by more obvious and pressing financial and strategic issues; and finally it demonstrates that adherence to professional codes of conduct and the ease with which professional ethics can be compromised when those codes are vague and transgressions are rarely actionable. The James Hardie case highlights structural issues in the employment of consulting actuaries which presents risks to the profession. It demonstrates that the combination of an aggressive corporate management with a strategic agenda reliant on consulting actuaries that have a vested interest in promoting and maintaining valuable relationships, both financially and professionally, results in ethical challenges. (shrink)

The Shapley value is the unique value defined on the class of cooperative games in characteristic function form which satisfies certain intuitively reasonable axioms. Alternatively, the Banzhaf value is the unique value satisfying a different set of axioms. The main drawback of the latter value is that it does not satisfy the efficiency axiom, so that the sum of the values assigned to the players does not need to be equal to the worth of the grand coalition. By definition, the (...) normalized Banzhaf value satisfies the efficiency axiom, but not the usual axiom of additivity. (shrink)

Although agreement on the positive sign of the relationship between corporate social and financial performance is observed in the literature, the mechanisms that constitute this relationship are not yet well-known. We address this issue by extending management’s stakeholder theory by adding insights from psychology’s prospect decision theory and sociology’s resource dependence theory. Empirically, we analyze an extensive panel dataset, including information on disaggregated measures of social performance for the S&P 500 in the 1997–2002 period. In so doing, we enrich the (...) extant literature by focusing on stakeholder heterogeneity, perceptional framing, and disaggregated measures of corporate social performance. (shrink)

This article discusses the set of Harsanyi payoff vectors of a cooperative TU-game, also known as the Selectope. We reconsider some results on Harsanyi payoff vectors within a more general framework. First, an intuitive approach is used, showing that the set of Harsanyi payoff vectors is the core of an associated convex game. Next, the set of individual rational Harsanyi payoff vectors, the Harsanyi imputations in short, is considered. Existence conditions are provided, and if non-empty, we provide a description as (...) the core of a well-defined convex game, and show that it is an externally stable set. (shrink)

We generalize the concept of a cooperative non-transferable utility game by introducing a socially structured game. In a socially structured game every coalition of players can organize themselves according to one or more internal organizations to generate payoffs. Each admissible internal organization on a coalition yields a set of payoffs attainable by the members of this coalition. The strengths of the players within an internal organization depend on the structure of the internal organization and are represented by an exogenously given (...) power vector. More powerful players have the power to take away payoffs of the less powerful players as long as those latter players are not able to guarantee their payoffs by forming a different internal organization within some coalition in which they have more power.We introduce the socially stable core as a solution concept that contains those payoffs that are both stable in an economic sense, i.e., belong to the core of the underlying cooperative game, and stable in a social sense, i.e., payoffs are sustained by a collection of internal organizations of coalitions for which power is distributed over all players in a balanced way. The socially stable core is a subset and therefore a refinement of the core. We show by means of examples that in many cases the socially stable core is a very small subset of the core.We will state conditions for which the socially stable core is non-empty. In order to derive this result, we formulate a new intersection theorem that generalizes the KKMS intersection theorem. We also discuss the relationship between social stability and the wellknown concept of balancedness for NTU-games, a sufficient condition for non-emptiness of the core. In particular we give an example of a socially structured game that satisfies social stability and therefore has a non-empty core, but whose induced NTU-game does not satisfy balancedness in the general sense of Billera. (shrink)

This (by no means exhaustive) survey of Postman’s work reflects on his penetrating analyses of contemporary technology. He focused attention on the ways technology today, especially the television and the computer, inevitably change us. The essential questions he asks us to ask (and answer) are, How does technology affect us? Is it for good or ill? and Must we accept all technological advances? Postman recognized the current dominance and autonomy of technology as well as the concomitant dangers and consequently made (...) the case and the plea for the reassertion of human over technological values. (shrink)

Often called the first of its kind, Frankenstein paved the way for science fiction writing. Its depiction of a then impossible scientific feat has in our time become possible and is essentially recognizable in what we now refer to as bioengineering, biomedicine, or biotechnology. The fiction of Frankenstein has as it were given way to scientific fact. Of more importance, however, is the challenge Mary Shelley’s novel presents to the ostensibly high-minded and well-intentioned hopes and promises of the scientist/technologist. Finally, (...) the fictional character, Victor Frankenstein, has come to serve as the poster child and whipping boy for all scientific and technological irresponsibility, so much so that thanks to him we are able to free ourselves and our scientists from any real responsibility, since none of us ever would or could be as monstrous as Frankenstein. (shrink)

A review of Kevin Corcoran's Rethinking Human Nature.

Jacques Ellul’s work on propaganda provides the basis for this analysis of life in technology. Advertising and the mass media rely on temptation and seduction and create a constant flow of propaganda, all of which serve the technological system. Propaganda aims to condition and regulate us so that we participate in and adapt ourselves to a desired pattern, specifically an existence adjusted to and in accord with the technological milieu. Technology tempts and seduces us with its promise and provision of (...) comfort, convenience, and efficiency. Above all, technology tempts and seduces us with power: power over nature and over human beings. Naively and paradoxically, we believe we have power over technology, even though it actually has power over us. Our immersion in a sea of temptation and seduction, of constant and total propaganda, may seem inescapable; however, to criticize and challenge the primacy of technology is to reassert our freedom. (shrink)

The Western Tradition has long struggled to define and understand evil, yet definitive answers continue to elude us. So, too, the role of evil in Goethe's Faust remains problematic. With the help of Mephistopheles, Faust acquires a forbidden,,knowledge of good and evil“, evoking the biblical story of the Fall. This study uncovers important layers of meaning in that story and reveals its special and unrecognized significance for Faust.

The Internet has become a resource for everyone for everything. It is accordingly now also a source of sermons and much more for pastors of churches in the USA. In consequence, the Internet shapes and alters how pastors and parishioners practice their religion. Because “the medium is the message,” as Marshall McLuhan observed, Internet sermons necessarily reflect and convey something of their Internet source. So, too, the nature and content religious life changes and takes on the characteristics of its new (...) source of inspiration, the Internet. As the dominant expression of technology today, the Internet reveals technology ultimately and in the words of Jacques Ellul as “the real religion of our time.”. (shrink)

Over the years, many movies have presented on-screen a struggle between machines and human beings. Typically, the machines have come to rule and threaten the existence of humanity. They must be conquered to ensure the survival of and to secure the freedom of the human race. Although these movies appear to expose the dangers of an autonomous and hegemonic technology and to champion the human being, they do not. Humans do not in the end triumph over technology but merge with (...) the machine. Instead of liberation from technological domination, the movies in question depict as inevitable the total surrender and absorption of humanity to and into technology. These movies lead to a denial of the true conditions of our existence in technology. Many films could serve to illustrate the problem, but this study focuses on two representative film trilogies: The Terminator and The Matrix. (shrink)