The ethical considerations of insider trading have been widely debated in the academic literature :171–182, 1990). In 2013, the STOCK Act, which was initially passed to mitigate insider trading by government officials, was quickly and unexpectedly amended to allow certain government employees to withhold their financial information. To identify and quantify the potential costs placed on investors by non-corporate insider traders, we use the unusual circumstances surrounding this amendment. For a sample of stocks most held by members of Congress, we (...) find that, relative to control stocks, liquidity significantly worsens and volatility increases during the post-amendment period. Our results highlight the costs that are incurred by investors in the presence of non-corporate insider trading. These findings call for a stronger development of an ethical framework that justifies the restriction of all types of insider trading. (shrink)

The best-interests standard is a widely used ethical, legal, and social basis for policy and decision-making involving children and other incompetent persons. It is under attack, however, as self-defeating, individualistic, unknowable, vague, dangerous, and open to abuse. The author defends this standard by identifying its employment, first, as a threshold for intervention and judgment (as in child abuse and neglect rulings), second, as an ideal to establish policies or prima facie duties, and, third, as a standard of reasonableness. Criticisms of (...) the best-interests standard are reconsidered after clarifying these different meanings. (shrink)

There is a popular hypothesis that performance on implicit and explicit memory tasks reflects 2 distinct memory systems. Explicit memory is said to store those experiences that can be consciously recollected, and implicit memory is said to store experiences and affect subsequent behavior but to be unavailable to conscious awareness. Although this division based on awareness is a useful taxonomy for memory tasks, the authors review the evidence that the unconscious character of implicit memory does not necessitate that it be (...) treated as a separate system of human memory. They also argue that some implicit and explicit memory tasks share the same memory representations and that the important distinction is whether the task (implicit or explicit) requires the formation of a new association. The authors review and critique dissociations from the behavioral, amnesia, and neuroimaging literatures that have been advanced in support of separate explicit and implicit memory systems by highlighting contradictory evidence and by illustrating how the data can be accounted for using a simple computational memory model that assumes the same memory representation for those disparate tasks. (shrink)

This edition of Giraldus Odonis' Logica for the first time gives access to an important and original treatise, which has unduly been neglected since the author's death. It is also important in that it gives evidence of interesting achievements in the field of logic outside the anti-metaphysical circle surrounding Ockham.

Recalcitrant disputes among health care providers and patients or their families may signal deep cultural differences about what interventions are needed or about clinicians’s professional duties. These issues arose in relation to a mother’s request for hymenoplasty or revirgination for her minor daughter to enable an overseas, forced marriage and protect her from an honor killing. The American College of Obstetrics and Gynecology committee recommends against members performing a hymenoplasty or other female genital cosmetic surgeries due to a lack of (...) data concerning their safety and efficacy. A key issue in such cases is how to determine what is in the minor’s best interest and the scope of health care moral or professional’s duties. The Best Interests Standard can serve as a powerful moral tool for resolving cross-cultural disputes and identifying needed policy. (shrink)