The importance of the notion of common knowledge in sustaining cooperative outcomes in strategic situations is well appreciated. However, the systematic analysis of the extent to which small departures from common knowledge affect equilibrium in games has only recently been attempted.We review the main themes in this literature, in particular, the notion of common p-belief. We outline both the analytical issues raised, and the potential applicability of such ideas to game theory, computer science and the philosophy of language.

The importance of the notion of common knowledge in sustaining cooperative outcomes in strategic situations is well appreciated. However, the systematic analysis of the extent to which small departures from common knowledge affect equilibrium in games has only recently been attempted.We review the main themes in this literature, in particular, the notion of common p-belief. We outline both the analytical issues raised, and the potential applicability of such ideas to game theory, computer science and the philosophy of language.

In the 1990s, large insurance companies failed in virtually every major market, prompting a fierce and ongoing debate about how to better protect policyholders. Drawing lessons from the failures of four insurance companies, When Insurers Go Bust dramatically advances this debate by arguing that the current approach to insurance regulation should be replaced with mechanisms that replicate the governance of non-financial firms.Rather than immediately addressing the minutiae of supervision, Guillaume Plantin and Jean-Charles Rochet first identify a fundamental economic rationale for (...) supervising the solvency of insurance companies: policyholders are the "bankers" of insurance companies. But because policyholders are too dispersed to effectively monitor insurers, it might be efficient to delegate monitoring to an institution--a prudential authority. Applying recent developments in corporate finance theory and the economic theory of organizations, the authors describe in practical terms how such authorities could be created and given the incentives to behave exactly like bankers behave toward borrowers, as "tough" claimholders. (shrink)

Green consumers are those who seek to fulfill economic responsibility with their choices of environment-friendly products. Previous research found that it is not easy to identify green consumers by using traditional demographic or psychographic measurements due to the instability of moral attitude and actual behavior. The frontal theta brain waves of 19 right-handed respondents were recorded and analyzed in a choice task between an environment-friendly (green) product and a conventional product. Product information, which was provided to the respondents, included written (...) descriptions as well as the price of each product without visual depiction. Based on the respondents’ choice, they were classified into two groups: green (GR) consumers who chose an environment-friendly product option and non-green (Non-GR) consumers who chose the option of a conventional product. While processing the green product message, we discovered that frontal theta activations were significantly higher among GR consumers than Non-GR consumers. On the contrary, the frontal theta waves of GR consumers were not differentiated from Non-GR consumers while processing the price information. Therefore, theta activations in the frontal area may potentially be a unique neural indicator of GR consumers’ cognitive engagement with environment-friendly product messages. (shrink)

BackgroundAlthough the Life-Sustaining Treatment (LST) Decision Act was enforced in 2018 in Korea, data on whether it is well established in actual clinical settings are limited. Hospital-acquired pneumonia (HAP) is a common nosocomial infection with high mortality. However, there are limited data on the end-of-life (EOL) decision of patients with HAP. Therefore, we aimed to examine clinical characteristics and outcomes according to the EOL decision for patients with HAP.MethodsThis multicenter study enrolled patients with HAP at 16 referral hospitals retrospectively from (...) January to December 2019. EOL decisions included do-not-resuscitate (DNR), withholding of LST, and withdrawal of LST. Descriptive and Kaplan–Meier curve analyses for survival were performed.ResultsOf 1,131 patients with HAP, 283 deceased patients with EOL decisions (105 cases of DNR, 108 cases of withholding of LST, and 70 cases of withdrawal of LST) were analyzed. The median age was 74 (IQR 63–81) years. The prevalence of solid malignant tumors was high (32.4% vs. 46.3% vs. 54.3%, P = 0.011), and the ICU admission rate was lower (42.9% vs. 35.2% vs. 24.3%, P = 0.042) in the withdrawal group. The prevalence of multidrug-resistant pathogens, impaired consciousness, and cough was significantly lower in the withdrawal group. Kaplan–Meier curve analysis revealed that 30-day and 60-day survival rates were higher in the withdrawal group than in the DNR and withholding groups (log-rank P = 0.021 and 0.018). The survival of the withdrawal group was markedly decreased after 40 days; thus, the withdrawal decision was made around this time. Among patients aged below 80 years, the rates of EOL decisions were not different (P = 0.430); however, mong patients aged over 80 years, the rate of withdrawal was significantly lower than that of DNR and withholding (P = 0.001).ConclusionsAfter the LST Decision Act was enforced in Korea, a DNR order was still common in EOL decisions. Baseline characteristics and outcomes were similar between the DNR and withholding groups; however, differences were observed in the withdrawal group. Withdrawal decisions seemed to be made at the late stage of dying. Therefore, advance care planning for patients with HAP is needed. (shrink)

This study assessed the knowledge and perception of human biological materials (HBM) and biorepositories among three study groups in South Korea. The relationship between the knowledge and the perception among different groups was also examined by using factor and regression analyses. In a self-reporting survey of 440 respondents, the expert group was found more likely to be knowledgeable and positively perceived than the others. Four factors emerged: Sale and Consent, Flexible Use, Self-Confidence, and Korean Bioethics and Biosafety Action restriction perception. (...) The results indicate that those who are well aware of the existence of biobanks were more positively inclined to receive the Sale and Consent perception. As a result of the need for high quality HBMs and the use of appropriate sampling procedures for every aspect of the collection and use process, the biorepository community should pay attention to ethical, legal, and policy issues. (shrink)

This study assessed the knowledge and perception of human biological materials (HBM) and biorepositories among three study groups in South Korea. The relationship between the knowledge and the perception among different groups was also examined by using factor and regression analyses. In a self‐reporting survey of 440 respondents, the expert group was found more likely to be knowledgeable and positively perceived than the others. Four factors emerged: Sale and Consent, Flexible Use, Self‐Confidence, and Korean Bioethics and Biosafety Action restriction perception. (...) The results indicate that those who are well aware of the existence of biobanks were more positively inclined to receive the Sale and Consent perception. As a result of the need for high quality HBMs and the use of appropriate sampling procedures for every aspect of the collection and use process, the biorepository community should pay attention to ethical, legal, and policy issues. (shrink)

An introduction to the special issue on epistemic logic and the foundations of game theory edited by Michael Bacharach and Philippe Mongin. Contributors are Michael Bacharach, Robert Stalnaker, Salvatore Modica and Aldo Rustichini, Luc Lismont and Philippe Mongin, and Hyun-Song Shin and Timothy Williamson.

Understanding the changing role of central banks and their recent novel policies is essential for analysing many economic and financial issues, ranging from financial regulation and crisis, to exchange rate dynamics and regime changes, and QE and prolonged low interest rates. This book features contributions by the world's leading experts on central banking, providing in accessible essays a fascinating review of today's key issues for central banks. Luminaries including Stephen Cecchetti, Takatoshi Ito, Anil Kashyap, Mervyn King, Donald Kohn, Otmar Issing (...) and Hyun Shin are joined by Charles Goodhart of the London School of Economics and Political Science, whose many achievements in the field of central banking are honoured as the inspiration for this book. The Changing Fortunes of Central Banking discusses the developing role of central banks in seeking monetary and financial stabilisation, while also giving suggestions for model strategies. This comprehensive review will appeal to central bankers, financial supervisors and academics. (shrink)

Patterns of object naming often differ between languages, but bilingual speakers develop convergent naming patterns in their two languages that are distinct from those of monolingual speakers of each language. This convergence appears to reflect interactions between lexical representations for the two languages. In this study, we developed a self-organizing connectionist model to simulate semantic convergence in the bilingual lexicon and investigate the mechanisms underlying this semantic convergence. We examined the similarity of patterns in the simulated data to empirical data (...) from past research, and we identified how semantic convergence was manifested in the simulated bilingual lexical knowledge. Furthermore, we created impaired models in which components of the network were removed so as to examine the importance of the relevant components on bilingual object naming. Our results demonstrate that connections between two languages’ lexicons can be established through the simultaneous activations of related words in the two languages. These connections between languages allow the outputs of their lexicons to become more similar, that is, to converge. Our model provides a basis for future computational studies of how various input variables may affect bilingual naming patterns. (shrink)

This paper reports the results of a survey of 842 undergraduate business students in four nations - the United States of America, the Peoples' Republic of China, Japan, and the Republic of Korea. This survey asked students to respond to four scenarios with potentially unethical business behavior and a string of questions related to the importance of ethics in business strategy and in personal behaviors. Based on arguments related to differences in recent historical experiences, the authors suggest that student responses (...) may be as different within the East Asian environment as they are between this environment as a whole and the USA. Survey results indicate a greater perception of ethical problems and more importance placed on ethics per se in business practices, as well as less of an emphasis on social harmony on the part of USA students. At the same time, substantial national differences in response are also witnessed within the set of East Asian students. A priori expectations as to the manner in which these East Asian responses should vary based on differences in recent historical experiences are partially, but not fully, supported. The authors argue that the key value of the reported research rests on a demonstration that national differences within a common cultural area can be as great as differences across cultural areas and that practitioners of global business must fine-tune their expectations as to acceptable business and personal actions to accommodate specific national historical experiences to be effective. (shrink)

The two mythical tales from the Samguk yusa, “Lady Suro” and “Monk Hyet’ong Defeats the Dragon” reveal the little-known evil character of the Korean dragons. The second story presents a particular scene of a confrontation between a hero and a malicious dragon; this story leads us to reflect on the question of the symbolism of evil embodied by the Dragon who has a vengeful character. The dragon symbol and its semantic variations were constructed specifically within the singular Korean context and (...) cannot be limited to Chinese Buddhist heritage. (shrink)

This study explores the transhuman from an East Asian perspective. In terms of cognitive science, mathematics, and theology, we define the transhuman system as characterized by transcendence, extension by compactification, and samtaegeuk. Compactification is conceptualized here in mathematical terms, as adding one or more elements so that a system becomes more complete—as one might join both ends of a line, and thereby create a circle. We assert that the East Asian transhuman could be defined as a three-point compactification: as an (...) extension of biophysical objects and events such as robots, cyborgs, and environments ; as an extension of culture, science, and art ; and as an extension of the interaction between the human and Cosmic Absolute such as in religions. Such a notion of the Transhuman might be associated with God, but any description of God, the Absolute Infinite, will apply to something less than God. (shrink)

Transnational articulation programmes are one way China is attempting to advance its higher education system. We report a study of twelve Chinese students’ experiences in two China-Australia 2...

Root text and autocommentary on Buddhist logic.