We draw on the behavioral agency model to explore the ethical consequences of CEO equity incentives. We argue that CEOs are more concerned with funding pension plans when they have more to gain from their stock options yet will increasingly underfund employee pension funds as their current option wealth increases. Our findings reveal that both effects hold when the CEO has greater power (also occupying board chair) over firm decision making. Our study suggests that there is an ethical dimension to (...) equity incentives, given they are intended to align CEO interests with shareholders, yet potentially incentivize CEO behaviors with adverse consequences for employees. Insights from our findings provide boards and regulators with behavioral levers to protect employee well-being in the context of pension funding. (shrink)

In this paper, we investigate the rules that should underlie a computer program that is capable of revising its beliefs or opinions. Such a program maintains a model of its environment, which is updated to reflect perceived changes in the environment. This model is stored in a knowledge base, and the program draws logical inferences from the information in the knowledge base. All the inferences drawn are added to the knowledge base. Among the propositions in the knowledge base, there are (...) some in which the program believes, and there may be others in which the program does not believe. Inputs from the outside world or reasoning carried out by the program may lead to the detection of contradictions, in which case the program has to revise its beliefs in order to get rid of the contradiction and to accommodate the new information. (shrink)

New Blackfriars, Volume 103, Issue 1103, Page 3-6, January 2022.

The focus of this paper is one of James Prescott Joule’s scientific contributions: the laws of heat production by electric currents in conductors. In 1841, the 22 years old Joule published a paper with the title “On the heat evolved by metallic conductors of electricity, and in the cells of a battery during electrolysis” where he presented an experimental study of that phenomenon and proposed two laws that were allegedly supported by his trials. On closer inspection, both his laboratory work (...) and his inferences can be challenged. The emphasis of this article is an attempt to understand Joule’s experimental undertaking, its highpoints and shortcomings, by a detailed analysis of this specific episode and by studying the precedents of his work and subsequent advancements. It is possible to point out several serious deficiencies of that investigation, and Joule’s contemporaries, such as Edmond Becquerel and Heinrich Lenz, did criticize some of his flaws and undertook new experiments to provide a sound basis for those laws. Besides providing a historical examination of that specific episode, this article uses this case study to tackle some features of the nature of science that may contribute to scientific education. (shrink)

In this rejoinder, we respond to two commentaries on the study by Greiff, S.; Stadler, M.; Sonnleitner, P.; Wolff, C.; Martin, R. Sometimes less is more: Comparing the validity of complex problem solving measures. Intelligence 2015, 50, 100–113. The study was the first to address the important comparison between a classical measure of complex problem solving (CPS) and the more recent multiple complex systems (MCS) approach regarding their validity. In the study, we investigated the relations between one classical microworld (...) as the initially developed method (here, the Tailorshop) with three more recently developed multiple complex systems (MCS; here, MicroDYN, Genetics Lab, and MicroFIN) tests. We found that the MCS tests showed higher levels of convergent validity with each other than with the Tailorshop even after reasoning was controlled for, thus empirically distinguishing between the two approaches. The commentary by Kretzschmar and the commentary by Funke, Fischer, and Holt expressed several concerns with how our study was conducted, our data was analyzed, and our results were interpreted. Whereas we acknowledge and agree with some of the more general statements made in these commentaries, we respectfully disagree with others, or we consider them to be at least partially in contrast with the existing literature and the currently available empirical evidence. (shrink)

Professor Skutsch has convicted me of one error—the inclusion of Eun. 465 in my list on p. 208. I do not feel, however, that he has proved that Phaedria is a dactyl in Terence. The essence of his argument, as I see it, depends on the figures in the last two rows of the first two columns on p. 90, and may be stated as follows: ‘Forms undeniably dactylic, such as Pamphile, are always followed by a disyllabic thesis. The thesis (...) after all critical examples of Phaedria is disyllabic. Therefore “Phaedria is proved to be a dactyl”.’ My objection to this argument is not that it is not a logical syllogism, but that it seeks to establish the prosody of Phaedria without considering the prosody of the other Phaedria-typt1 names in Terence. These are listed on p. 208 of my article . The following cases, I suggest, merit consideration. (shrink)

We point out that current belief revision operations can be used to revise non-monotonic theories and we propose a new operation, called permissive belief revision. The underlying idea of permissive belief revision consists of instead of abandoning some beliefs during a revision, transforming those beliefs into weaker ones, while still keeping the resulting belief set consistent. This framework allows us to keep more beliefs than what is usual using existing belief base-based revision theories.

From the beginning of the seventeenth century it has generally been held that the second Medicean is the parent of all the other extant manuscripts. In two articles C. W. Mendell has demonstrated that Leidensis B.P.L. 16. B is the manuscript once owned by Rudolphus Agricola and later by Th. Ryck, whose edition makes frequent allusion to its readings. Mendell's attempt to show further that L represents a tradition independent of the Medicean has found little support until recently, when E. (...) Koestermann, in the course of preparing the latest Teubner edition of Annals and Histories became convinced from his own study of L that Mendell's view—in spite of some arguments of dubious validity—was essentially correct. In an article in Philologus and in the preface to his edition of Histories Koestermann has marshalled the arguments which he believes prove L's independence of the Medicean line of descent. Since the new valuation that Koestermann puts upon L has produced a drastic revision of both text and apparatus criticus in his new editions, it may be worth while to examine the evidence that Koestermann adduces in support of his belief in L's independence. (shrink)