This book offers a definitive and wide-ranging overview of developments in behavioral finance over the past ten years. In 1993, the first volume provided the standard reference to this new approach in finance--an approach that, as editor Richard Thaler put it, "entertains the possibility that some of the agents in the economy behave less than fully rationally some of the time." Much has changed since then. Not least, the bursting of the Internet bubble and the subsequent market decline further demonstrated (...) that financial markets often fail to behave as they would if trading were truly dominated by the fully rational investors who populate financial theories. Behavioral finance has made an indelible mark on areas from asset pricing to individual investor behavior to corporate finance, and continues to see exciting empirical and theoretical advances. Advances in Behavioral Finance, Volume II constitutes the essential new resource in the field. It presents twenty recent papers by leading specialists that illustrate the abiding power of behavioral finance--of how specific departures from fully rational decision making by individual market agents can provide explanations of otherwise puzzling market phenomena. As with the first volume, it reaches beyond the world of finance to suggest, powerfully, the importance of pursuing behavioral approaches to other areas of economic life. The contributors are Brad M. Barber, Nicholas Barberis, Shlomo Benartzi, John Y. Campbell, Emil M. Dabora, Daniel Kent, François Degeorge, Kenneth A. Froot, J. B. Heaton, David Hirshleifer, Harrison Hong, Ming Huang, Narasimhan Jegadeesh, Josef Lakonishok, Owen A. Lamont, Roni Michaely, Terrance Odean, Jayendu Patel, Tano Santos, Andrei Shleifer, Robert J. Shiller, Jeremy C. Stein, Avanidhar Subrahmanyam, Richard H. Thaler, Sheridan Titman, Robert W. Vishny, Kent L. Womack, and Richard Zeckhauser. (shrink)

Despite the fact that psychedelics were proscribed from medical research half a century ago, recent, early-phase trials on psychedelics have suggested that they bring novel benefits to patients in the treatment of several mental and substance use disorders. When beneficial, the psychedelic experience is characterized by features unlike those of other psychiatric and medical treatments. These include senses of losing self-importance, ineffable knowledge, feelings of unity and connection with others and encountering ‘deep’ reality or God. In addition to symptom relief, (...) psychedelic experiences often lead to significant changes in a patient’s personality and worldview. Focusing on the case of psilocybin, we argue that the peculiar features of psychedelics pose certain novel risks, which warrant an enhanced informed consent process–one that is more comprehensive than what may be typical for other psychiatric medications. We highlight key issues that should be focused on during the consent process and suggest discussion prompts for enhanced consent in psychedelic psychiatry. Finally, we respond to potential objections before concluding with a discussion of ethical considerations that will arise as psychedelics proceed from highly controlled research environments into mainstream clinical psychiatry. (shrink)

What exactly is the human element separating humans from animals and machines? The common answers that immediately come to mind—like art, empathy, or technology—fall apart under close inspection. Dominic Pettman argues that it is a mistake to define such rigid distinctions in the first place, and the most decisive “human error” may be the ingrained impulse to understand ourselves primarily in contrast to our other worldly companions. In _Human Error_, Pettman describes the three sides of the cybernetic triangle—human, animal, (...) and machine—as a rubric for understanding key figures, texts, and sites where our species-being is either reinforced or challenged by our relationship to our own narcissistic technologies. Consequently, species-being has become a matter of _specious_-being, in which the idea of humanity is not only a case of mistaken identity but indeed the mistake of identity. _Human Error_ boldly insists on the necessity of relinquishing our anthropomorphism but also on the extreme difficulty of doing so, given how deeply this attitude is bound with all our other most cherished beliefs about forms of life. (shrink)

Is it OK to lie to Siri? Is it bad to mistreat a robot for our own pleasure? Under what condition should we grant a moral status to an artificial intelligence system? This paper looks at different arguments for granting moral status to an AI system: the idea of indirect duties, the relational argument, the argument from intelligence, the arguments from life and information, and the argument from sentience. In each but the last case, we find unresolved issues with the (...) particular argument, which leads us to move to a different one. We leave the idea of indirect duties aside since these duties do not imply considering an AI system for its own sake. The paper rejects the relational argument and the argument from intelligence. The argument from life may lead us to grant a moral status to an AI system, but only in a weak sense. Sentience, by contrast, is a strong argument for the moral status of an AI system—based, among other things, on the Aristotelian principle of equality: that same cases should be treated in the same way. The paper points out, however, that no AI system is sentient given the current level of technological development. (shrink)

Feminists have argued that oppressive socialization undermines the liberal model of autonomy. We contend that this argument can also be employed effectively as a challenge to the standard bioethical model of informed consent. We claim that the standard model is inadequate because it relies on presumptions of procedural autonomy and rational choice that overlook the problem of how agents are often socialized so that they adopt and internalize oppressive norms as part of their motivational structure. The argument that oppressive socialization (...) undermines liberalism’s view of autonomy is most relevant to what Beauchamp and Childress call the threshold elements of informed consent—competence and voluntariness. We show how these elements fail to account for morally relevant factors such as oppressive socialization. (shrink)

It may soon be possible to generate human organs inside of human-pig chimeras via a process called interspecies blastocyst complementation. This paper discusses what arguably the central ethical concern is raised by this potential source of transplantable organs: that farming human-pig chimeras for their organs risks perpetrating a serious moral wrong because the moral status of human-pig chimeras is uncertain, and potentially significant. Those who raise this concern usually take it to be unique to the creation of chimeric animals with (...) ‘humanised’ brains. In this paper, we show how that the same style of argument can be used to critique current uses of non-chimeric pigs in agriculture. This reveals an important tension between two common moral views: that farming human-pig chimeras for their organs is ethically concerning, and that farming non-chimeric pigs for food or research is ethically benign. At least one of these views stands in need of revision. (shrink)

Cudmore, Dominic Ecclesial movements, inspired by a desire to live the Gospel more intensively and to announce it to others, have always been manifest in the midst of the People of God. ... In our day and particularly during recent decades, new movements have appeared that are more independent of the structures and style of the religious life than in the past.

While nothing justifies atrocity, many perpetrators manifest cognitive impairments that profoundly degrade their capacity for moral judgment, and such impairments, we shall argue, preclude the attribution of moral responsibility.

[David Charles] Aristotle, it appears, sometimes identifies well-being with one activity, sometimes with several, including ethical virtue. I argue that this appearance is misleading. In the Nicomachean Ethics, intellectual contemplation is the central case of human well-being, but is not identical with it. Ethically virtuous activity is included in human well-being because it is an analogue of intellectual contemplation. This structure allows Aristotle to hold that while ethically virtuous activity is valuable in its own right, the best life available for (...) humans is centred around, but not wholly constituted by, intellectual contemplation. /// [Dominic Scott] In Nicomachean Ethics X 7-8, Aristotle distinguishes two kinds of eudaimonia, primary and secondary. The first corresponds to contemplation, the second to activity in accordance with moral virtue and practical reason. My task in this paper is to elucidate this distinction. Like Charles, I interpret it as one between paradigm and derivative cases; unlike him, I explain it in terms of similarity, not analogy. Furthermore, once the underlying nature of the distinction is understood, we can reconcile the claim that paradigm eudaimonia consists just in contemplation with a passage in the first book requiring eudaimonia to involve all intrinsic goods. (shrink)

Not all countries do their fair share in the effort of preventing dangerous climate change. This presents those who are willing to do their part with the question whether they should 'take up the slack' and try to compensate for the non-compliers' failure to reduce emissions. There is a pro tanto reason for doing so given the human rights violations associated with dangerous climate change. The article focuses on fending off two objections against a duty to take up the slack: (...) that it is unfair and ineffective. We grant that it is unfair if some have to step in for others but argue that this does not amount to a decisive objection under conditions of partial compliance. With regard to the charge of emission reductions being ineffective, we argue that the empirical case for this claim is missing and that even if it were not, there still remains the option of taking up the slack in other forms. (shrink)

Infants who are born extremely prematurely can survive if they receive intensive medical treatment. However, they also have a high chance of dying, and a proportion of survivors have long-term health problems and disabilities. In many parts of the world, if parents request it, an extremely premature infant can receive palliative care rather than active survival-focused care at birth. But there are variations between countries as to whether or when this is permitted. To help inform ethical debates across Asia and (...) more widely, we present two contrasting views about parental discretion and the treatment of extremely preterm infants. In questions of this nature, disagreement and dissensus are inevitable. Differences in the outcomes of treatment, the resources available, and the values of society mean that we should not expect a uniform approach. We identify points of potential consensus and compromise despite disagreement. (shrink)

Buddhism is a tradition that set itself decidedly against theism, with the development of complex arguments against the existence of God. I propose that the metaphysical conclusions reached by some schools in the Mahayana tradition present a vision of reality that, with some apparently small modification, would ground an argument for the existence of God. This argument involves explanation in terms of natures rather than causal agency. Yet I conclude not only that the Buddhist becomes a theist in embracing such (...) explanations as legitimate, but also ipso facto abandons their metaphysical project and ceases to be a Buddhist. (shrink)

An early work in which Baudrillard became Baudrillard. When Fatal Strategies was first published in French in 1983, it represented a turning point for Jean Baudrillard: an utterly original, and for many readers, utterly bizarre book that offered a theory as proliferative, ecstatic, and hallucinatory as the postmodern world it endeavored to describe. Arguing against the predetermined outcomes of dialectical thought with his renowned, wry, ambivalent passion, with this volume Jean Baudrillard mounted an attack against the “false problems” posed by (...) Western philosophy. If his Marxist days were firmly behind him, Baudrillard here indicated that metaphysics had also gone the way of sociology and politics: the contemporary world demanded nothing less than Pataphysics, Alfred Jarry's absurdist philosphy that described the laws of the universe supplementary to this one. In effect, with Fatal Strategies, Baudrillard became Baudrillard. In his extrapolationist manner, Baudrillard sought to replace Western philosophy's circular arguments with a ritualistic Theater of Cruelty. Using this line of thought developed in Fatal Strategies, Baudrillard went on, throughout the 1980s, to find new and shatteringly accurate ways of discussing American corporatocracy, arms build-up, and hostage taking. Fatal Strategies asserts a profound critique of American politics, and it is an important step towards his examination of evil.Jean Baudrillard was a philosopher, sociologist, cultural critic, and theorist of postmodernity who challenged all existing theories of contemporary society with humor and precision. An outsider in the French intellectual establishment, he was internationally renowned as a twenty-first century visionary, reporter, and provocateur. His Simulations instantly became a cult classic and made him a controversial voice in the world of politics and art. (shrink)

Hylomorphism is a metaphysical theory that accounts for the unity of the material parts of composite objects by appeal to a structure or ‘form’ characterizing those parts. I argue that hylomorphism is not merely a plausible or appealing solution to problems of material composition, but a position entailed by any coherent metaphysics of ordinary material objects. In fact, not only does hylomorphism have Aristotelian defenders, but it has had independent lives in both East and West. -/- I review three contemporary (...) hylomorphic theories appeal to ‘structure’ to explain the unity of material objects. Each, however, accepts a controversial principle: that substances can have other substances as proper parts. Such a principle is implausible and severely threatens the coherence of the theory. -/- I begin by showing that Thomas Aquinas’ account of form, which does not accept that substances can have other substances as parts, gives us a more coherent version of hylomorphism. Then I argue Zhu Xi, a Song dynasty Confucian thinker, developed a non-Aristotelian hylomorphism. Unlike Aristotelians, Zhu Xi’s metaphysics was formed in opposition to Buddhist versions of skepticism and gives us reasons to think that anyone who holds a view of objects stronger than Buddhists is committed to forms. In conclusion, I show directly, by appeal to some of those same considerations from Zhu Xi, why it is that all those who believe there are unified material objects will appeal to something like a substantial form. The traditional hylomorphic picture of material composition, then, remains a plausible framework for contemporary metaphysicians – and for good reason. (shrink)

Animalism, the view that human persons are human animals in the most straightforward, non-derivative sense, is typically taken to conflict with the intuition that a human person would follow her functioning cerebrum were it to be transplanted into another living human body. Some animalists, however, have recently called into question the incompatibility between animalism and this “Transplant Intuition,” arguing that a human animal would be relocated with her transplanted cerebrum. In this paper, we consider the prospects for this cerebrum transplant-compatible (...) variant of animalism, which we call “Transplanimalism.” After presenting its account of three related thought experiments, and outlining its key advantages over Standard Animalism, we raise two concerns for Transplanimalism. First, we argue that Transplanimalism, like other closest-continuer accounts of the human person, encounters difficulties with symmetrical fission cases. Second, we introduce a new thought experiment that pushes Transplanimalism into surprisingly counterintuitive results. As a result of these concerns, we conclude that, despite its attractiveness, animalists should not endorse Transplanimalism. (shrink)

For centuries, philosophers have identified beauty with what brings pleasure. Dominic McIver Lopes challenges this interpretation by offering an entirely new theory of beauty - that beauty engages us in action, in concert with others, in the context of social networks - and sheds light on why aesthetic engagement is crucial for quality of life.

Thomas Aquinas embraces a controversial claim about the way in which parts of a substance depend on the substance’s substantial form. On his metaphysics, a ‘substantial form’ is not merely a relation among already existing things, in virtue of which (for example) the arrangement or configuration of those things would count as a substance. The substantial form is rather responsible for the identity or nature of the parts of the substance such a form constitutes. Aquinas’ controversial claim can be roughly (...) put as the view that things are members of their kind in virtue of their substantial form. To put it simply, Aquinas’ claim results in the implication that, every time the xs come to compose a y, those xs have to undergo a change in kind membership. -/- This has been called the “homonymy principle,” and it follows from Aquinas’ view of substantial forms, and specifically from the position that substantial forms inform prime matter, rather than substance-parts. The aim of this paper will be to defend that the Thomistic claim that substantial forms account for the determinate actuality of every part of a substance is plausible and coherent. After defending the Thomistic account, I propose that approaching problems of material composition as a Thomist has a significant, oft-overlooked advantage of involving a thorough-going naturalistic methodology that resolves such problems by appeal to empirical considerations. (shrink)

Pack includes 2 titles from the popular Blackwell Philosophy Anthologies Series: Philosophy of Literature: Contemporary and Classic Readings - An Anthology Edited by Eileen John and Dominic McIver Lopes ISBN: 9781405112086 Essential readings in the philosophy of literature are brought together for the first time in this anthology. Contains forty-five substantial and carefully chosen essays and extracts Provides a balanced and coherent overview of developments in the field during the past thirty years, including influential work on fiction, interpretation, metaphor, (...) literary value, and the definition and ontology of literature Includes an additional historical section featuring generous selections of the writings of early pioneers such as Plato, Aristotle, Nietzsche, and Hume Serves as an ideal introduction to the philosophy of literature or the philosophy of art, as well as a handy compilation of contributions to the field by its leading figures Philosophy of Film and Motion Pictures: An Anthology Edited by Noël Carroll and Jinhee Choi ISBN: 9781405120272 Designed for classroom use, this authoritative anthology presents key selections from the best contemporary work in philosophy of film. The featured essays have been specially chosen for their clarity, philosophical depth, and consonance with the current move towards cognitive film theory Eight sections with introductions cover topics such as the nature of film, film as art, documentary cinema, narration and emotion in film, film criticism, and film's relation to knowledge and morality Issues addressed include the objectivity of documentary films, fear of movie monsters, and moral questions surrounding the viewing of pornography Replete with examples and discussion of moving pictures throughout. (shrink)

In the first wave of the COVID-19 pandemic, healthcare workers in some countries were forced to make distressing triaging decisions about which individual patients should receive potentially life-saving treatment. Much of the ethical discussion prompted by the pandemic has concerned which moral principles should ground our response to these individual triage questions. In this paper we aim to broaden the scope of this discussion by considering the ethics of broader structural allocation decisions raised by the COVID-19 pandemic. More specifically, we (...) consider how nations ought to distribute a scarce life-saving resource across healthcare regions in a public health emergency, particularly in view of regional differences in projected need and existing capacity. We call this the regional triage question. Using the case study of ventilators in the COVID-19 pandemic, we show how the moral frameworks that we might adopt in response to individual triage decisions do not translate straightforwardly to this regional-level triage question. Having outlined what we take to be a plausible egalitarian approach to the regional triage question, we go on to propose a novel way of operationalising the ‘save the most lives’ principle in this context. We claim that the latter principle ought to take some precedence in the regional triage question, but also note important limitations to the extent of the influence that it should have in regional allocation decisions. (shrink)

Everybody assumes (1) that musical performances are sonic events and (2) that their expressive properties are sonic properties. This paper discusses recent findings in the psychology of music perception that show that visual information combines with auditory information in the perception of musical expression. The findings show at the very least that arguments are needed for (1) and (2). If music expresses what we think it does, then its expressive properties may be visual as well as sonic; and if its (...) expressive properties are purely sonic, then music expresses less than we think it does. And if the expressive properties of music are visual as well as sonic, then music is not what we think it is—it is not purely sonic. (shrink)

This book is a formidably compelling source of insights for those who are interested in subjects ranging from moral philosophy, social justice, hermeneutics and education. It reconciles traditional theories of ethics by re-framing them through hypertextual techniques, bringing together contrasting and contradictory ethical views.

On the stupidity of oysters -- Divining creaturely love -- Horsing around: the marriage blanc of Nietzsche, Andreas-Salomø, and Røe -- Groping for an opening: Rilke between animal and angel -- Electric caresses:Rilke, Balthus, and Mitsou -- Between perfection and temptation: Musil, Claudine, and Veronica -- The biological travesty -- "The creature whom we love": Proust and jealousy -- The love tone: capture and captivation -- "The soft word that comes deceiving": Fournival's bestiary of love -- The cuckold and the (...) cockatrice: Fourier and Hazlitt -- The animal bride and horny toads -- Unsettled being: Ovid's metamorphoses -- Fickle metaphysics -- Nymphomania and faunication -- Senseless arabesques: Wendy and Lucy -- The goat in the machine (a reprise) -- On cetaceous maidens -- Animal magnetism and alternative currents (or Tesla and the white dove). (shrink)

The COVID-19 pandemic has created unusually challenging and dangerous workplace conditions for key workers. This has prompted calls for key workers to receive a variety of special benefits over and above their normal pay. Here, we consider whether two such benefits are justified: a no-fault compensation scheme for harm caused by an epidemic and hazard pay for the risks and burdens of working during an epidemic. Both forms of benefit are often made available to members of the armed forces for (...) the harms, risks and burdens that come with military service. We argue from analogy that these benefits also ought to be provided to key workers during an epidemic because, like the military, key workers face unavoidable harms, risks and burdens in providing essential public good. The amount of compensation should be proportional to the harm suffered and the amount of hazard pay should be proportional to the risk and burden endured. Therefore, key workers should receive the same amount of compensation and hazard pay as the military where the harms, risks and burdens are equivalent. In the UK, a form of no-fault compensation has recently been made available to the surviving families of key workers who suffer fatal COVID-19 infections. According to our argument, however, it is insufficient because it offers less to key workers than is made available to the families of armed services personnel killed on duty. (shrink)

In _ Psychiatry in the Scientific Image, _Dominic Murphy looks at psychiatry from the viewpoint of analytic philosophy of science, considering three issues: how we should conceive of, classify, and explain mental illness. If someone is said to have a mental illness, what about it is mental? What makes it an illness? How might we explain and classify it? A system of psychiatric classification settles these questions by distinguishing the mental illnesses and showing how they stand in relation to one (...) another. This book explores the philosophical issues raised by the project of explaining and classifying mental illness. Murphy argues that the current literature on mental illness -- exemplified by the Diagnostic and Statistical Manual of Mental Disorders -- is an impediment to research; it lacks a coherent concept of the mental and a satisfactory account of disorder, and yields too much authority to commonsense thought about the mind. He argues that the explanation of mental illness should meet the standards of good explanatory practice in the cognitive neurosciences, and that the classification of mental disorders should group symptoms into conditions based on the causal structure of the normal mind. (shrink)

The recent legal dispute about medical treatment for a 19-year-old patient, Sudiksha Thirumalesh, (known initially by the Court of Protection as ‘ST’) in A NHS Trust versus ST & Ors (2023) raised several challenging ethical issues. While Sudiksha’s case bears similarities to other high-profile cases in England and Wales, there are key differences. Crucially, Sudiksha herself was part of the disagreement. She was alert, communicative and sought to advocate for herself. Furthermore, this case was framed in the courts as pivoting (...) not on considerations of best interests but on a determination of decisional capacity. Sudiksha was deemed to lack capacity because she did not believe her doctors’ view of her prognosis.While the legal questions in the case were central to a recent Court of Appeal decision (which overturned the original finding), in this commentary, we focus on the ethical questions therein. We start by describing Sudiksha’s court case and the initial judgment. We then offer an ethical analysis of the relationship between false beliefs, values and the ‘capacity’ to make decisions, arguing for a need for particular care when judging patients to lack capacity based purely on ‘false and fixed beliefs’. After briefly noting the legal basis for the appeal finding, we offer ethical implications for future cases. Although it appears that Sudiksha had decision-making capacity, this did not settle the ethical question of whether health professionals were obliged to continue treatment that they believed to have no prospect of success. (shrink)

From the invention of the alphabet to the explosion of the internet, Dominic Wyse takes us on a unique journey into the process of writing. Starting with seven extraordinary examples that serve as a backdrop to the themes explored, it pays particular attention to key developments in the history of language, including Aristotle's grammar through socio-cultural multimodality, to pragmatist philosophy of communication. Analogies with music are used as a comparator throughout the book, yielding radically new insights into composition processes. (...) The book presents the first comprehensive analysis of the Paris Review interviews with the world's greatest writers such as Louise Erdrich, Gabriel Garcia Márquez, Ted Hughes, and Marilynne Robinson. It critically reviews the most influential guides to styles and standards of language, and presents new research on young people's creativity and writing. Drawing on over twenty years of findings, Wyse presents research-informed innovative practices to demonstrate powerfully how writing can be learned and taught. (shrink)

Abortion pill reversal treatment aims to halt an initiated medical abortion, wherein a pregnant woman takes progesterone after having taken the first of the two consecutive abortion pills, ty...

The well known Wiener-Kuratowski explicit definition of the ordered pair, which sets ⟨x, y⟩ = {{x}, {x, y}}, works well in many set theories but fails for those with classes which cannot be members of singletons. With the aid of the Axiom of Foundation, we propose a recursive definition of ordered pair which addresses this shortcoming and also naturally generalizes to ordered tuples of greater lenght. There are many advantages to the new definition, for it allows for uniform definitions working (...) equally well in a wide range of models for set theories. In ZFC and closely related theories, the of an ordered pair of two infinite sets under the new definition turns out to be equal to the maximum of the ranks of the sets. (shrink)

This paper examines the metaphysical status of Ezumezu logic in the direction of logical realism. While presenting Ezumezu logic as a prototype of African logic, Chimakonam makes statements that somewhat entail logical monism. Using the method of critical analysis of related literature, the paper argues that presenting Ezumezu logic as one of the prototypes of African logic while at the same time making claims that elevate it to a hegemonic status, gives rise to what is regarded in the paper as (...) the monist-pluralist paradox. Drawing lessons from Abakedi’s ID paradox, the paper argues that a monist logical foundation for African logic cannot be consistently defended without paradoxes. The paper proposes that different African philosophies should be grounded by different African logics such that one need not be trained in one particular prototype such as Ezumezu logic or argue in conformity to it to qualify as an African professional or scholar. (shrink)

The UK government has put lateral flow antigen tests at the forefront of its strategy to scale-up testing in the coronavirus pandemic. However, evidence from a pilot trial using an LFAT to identify asymptomatic infections in the community suggested that the test missed over half of the positive cases in the tested population. This raises the question of whether it can be ethical to use an inaccurate test to guide public health measures. We begin by explicating different dimensions of test (...) accuracy, and why they matter morally, before highlighting key data from the Liverpool pilot. We argue that the poor sensitivity of the LFAT in this pilot trial suggests that there are important limitations to what we can expect these tests to achieve. A test with low sensitivity will provide false-negative results, and in doing so generate the risk of false assurance and its attendant moral costs. However, we also suggest that the deployment of an insensitive but specific test could identify many asymptomatic carriers of the virus who are currently being missed under existing arrangements. Having outlined ways in which the costs of false reassurance could potentially be mitigated, we conclude that the use of an insensitive LFAT in mass testing may be ethical if it is used predominantly to identify positive cases, it is a cost-effective method of achieving that goal and if other public health tools can effectively prevent widespread false reassurance. (shrink)