This book offers a unified treatment of selected topics in the theory of financial markets. Starting with discrete time models, Dothan introduces discrete time stochastic calculus and discrete martingale methods of intuitive simplicity to characterize attainability, completeness, pricing, and the relationship between risk and return in financial markets. Subsequently, he uses the intuition developed in conjunction with the discrete time theory to introduce continuous time calculus for continuous, jump, and mixed continuous-jump processes, and to deal with attainability, completeness, pricing, (...) and the relationship between risk and return in general continuous time models. Throughout, the exposition of the continuous time theory emphasizes the analogies between discrete time and continuous time methods and results. The book includes many examples, applications to the pricing of options and other derivative securities, and an extensive discussion of the Black-Scholes model and its most general theoretical extension. (shrink)

Es geht nicht darum, die Religion wieder auferstehen zu lassen [...]. Sondern es geht darum, die blosse Vernunft auf die Unbegrenztheit hin zu offnen, die ihre Wahrheit ausmacht. Im vielbehaupteten Trend einer Ruckkehr zur Religion erweist sich Jean-Luc Nancys Philosophie als widerstandig: Einerseits steht die Frage nach der Bedeutung von Religion und insbesondere des Christentums im Mittelpunkt seiner Uberlegungen, andererseits stellt er sich nicht in die Tradition einer neuen (De-)Legitimation von Religion. In Auseinandersetzung mit Jean-Luc Nancy, insbesondere mit seinem Projekt (...) einer Dekonstruktion des Christentums, widmen sich die Beitrage dieses Bandes der allgemeinen Verortung des Phanomens der Religion in pluralistischen Gemeinschaften aus theologischer und philosophischer Sicht. (shrink)

The authors of this volume rethink our usual understanding of the relationship between faith, belief and skepticism. For some, skeptical faith is an oxymoron and faith and skepticism are mutually exclusive states or attitudes. Others argue that there is no proper faith without skepticism about faith. Taking John Schellenberg's recent work on the possibility of a skeptical faith as a starting point, the authors respond to and in some cases seek to go further than Schellenberg. In a variety of ways, (...) the papers take up the following questions: How are we to construe the relationship between faith, belief, and skepticism if we seek to understand what is characteristic of a life of faith, or of unfaith? Is belief in God necessary for faith in God to be possible? Does one need to have sufficient reasons for believing something before one is rationally entitled to having faith in something? In short, what is the relationship between faith and belief, belief and understanding, understanding and experience, and experience and skepticism? (shrink)

Reincarnation is a death-specific and forward-looking philosophico-religious phenomenon that enjoys a cross-cultural appeal. It represents the theory that when the soul separates from the body at death, it informs another body for another round of earthly life. The debate on reincarnation has, so far, revolved around the reality or otherwise of reincarnation and the associated claims. In this article, we undertake a holistic and critical examination and appraisal of the key arguments underlying the reincarnation debate, with emphasis on the nature (...) and structure of reincarnation, as well as the value of reincarnation belief. The aim is to determine who gets what among the contending parties. Although oral interviews were involved in the exercise, textual and doctrinal analysis of extant literatures on reincarnation formed the predominant source of data for the research. Our finding reveals that although the phenomenon of reincarnation is bedeviled by internal contradictions and belief in it hardly justifiable, belief in it has some positive values, including coping and unifying values that could be harnessed for the well-being of people and society. These observed values of reincarnation and the attendant belief in it, the article concludes, do not constitute a conclusive proof of the reality of reincarnation.Contribution: The contributive value of this paper lies in bringing to the fore the fact that contrary to popular assumption, the notion of belief is in reality, epistemically more powerful than knowledge, at least in the context of religion. Considering that HTS Theological Studies focuses on religious issues and that ‘belief’ and ‘knowledge’ are religious concepts, we consider this paper to be suitable to its objectives. (shrink)

It will be assumed that the questions are legitimate.

Bart Pattyn: Needless to say, we are more than pleased with the willingness of Michael Walzer to be here in Leuven. After the stimulating lecture yesterday we now have the opportunity to pose some questions to Michael Walzer in the same room where we talked with his friend, Harry Frankfurt, as well as with Bernard Williams. I have asked Professor Selling to moderate this discussion which I am sure he will do with a firm hand.Joseph Selling: We have (...) two papers which Prof. Walzer, and many of you, have read in advance. Perhaps we can take the questions from the authors of those papers and then take other questions. (shrink)

Revelation is a central category in many religions. Judaism, Christianity, Islam, Mormonism or Unificationists are difficult if not impossible to imagine without it. For some, revelation signifies a decisive event in the past, for others it is a present reality. It plays a central role in shaping religious identities, and it is the reason for much criticism. Some follow a religion only because of its claim to divine revelation, whereas others criticize it as "hearsay upon hearsay" (Paine) on which they (...) would never rest their belief. Some religions have built elaborate institutions of priests and privileged interpreters to safeguard their revelation, control access to it and to protect the right way of interpreting and communicating it. But claims to revelation have also been criticized as strategies of self-immunization, which allow religions to avoid critical public debate of their views and teachings, or legitimize the position of those in power. The 33rd Conference of Philosophy of Religion at Claremont Graduate University in 2012 addressed these complex issues by concentrating on three areas of debate: I. Revelation and Reason, II. Hermeneutics of Revelation, III. Phenomenology of Revelation. (shrink)

This paper offers a comprehensive discussion on the concept of Africa and freedom, freedoms in indigenous Africa, literacy and freedom from external forces, freedom under colonial rule, the role of World War II, decolonization and the Independence Movement in Africa, independent African and new challenges for freedom and finally a way forward.

In lieu of an abstract, here is a brief excerpt of the content:Michael’s Story or the Paradox of NormalcyMichael KreuzerI was born in Montreal in 1974. My parents were both “older.” My mother was almost 45; my father was in his 50’s. I have a sister who is six years older than me. What I know about my mother’s prenatal care is that it was quite basic.I was premature. My mother’s due date was in mid–August, however I showed up (...) about three weeks earlier. I know that initially upon my birth I was declared male. However, upon closer examination, a few “abnormalities” of my genitals were found. I urinated through a small hole at the base of my penis; adjacent to this hole was another opening, barely big enough for a Q–tip. My scrotum was empty; my gonads had not descended.The doctors who examined me decided that they could not assign a gender without further testing. They told my mother I would need to remain in the hospital until such testing was completed. Apparently not being able to determine sex/gender is a life–threatening condition that requires hospitalization.It was determined that I had a uterus and it was presumed that my undescended gonads were ovaries (not verified by biopsy). There was a small vaginal opening behind my small urethral opening. Structures such as the labia were not developed. I found out later my vagina had fistulated into both my urethra and my perineum. Karyotyping was performed resulting in 46,XX with a diagnosis of female pseudo–hermaphroditism. My parents were informed that in spite of my external genitalia I was female and I would never develop as a male. I would require “corrective surgeries” which should be performed as soon as possible so I would not have any issues with my gender identity. They were even told that I would be able to become pregnant if I had the surgeries. In fact, I never ovulated and I have a small unicornuate uterus.My father refused all surgeries on my behalf most likely because he was a full–blooded Navajo who had suffered from abuse in an Indian boarding school during his childhood in New Mexico. His family was traditional, and because they didn’t adapt to prevailing Christian values, he and several of his siblings were removed from their parents. My dad was the oldest of 12 children and by the time his youngest siblings were born, the practice to take children away from their families had been changed.I think my father was deeply traumatized by his childhood and did not associate much with his family, nor did he want to visit the reservation. He spoke the language but never encouraged us to learn it. He did teach us some of the traditions. He told me about the nadleh, which is the other gender besides male and female in the Navajo tradition. There are two kinds of nadleh, which are almost like male–to–female and female–to–male transsexuals. Mostly I educated myself later and learned about the Navajo belief system in which the creation story is an important part. In the Navajo tradition, the creation story tells of First Man and First Woman; the first children born to them are the Hermaphrodite Twins. [End Page E7]My father was a US Army Master Sergeant, which was an unusual career for a man of his origins; he was a veteran of the Second World War. After he left the army he took his family to Montreal where he had a job in security. I think he preferred to live outside the U.S. He used to say that in Germany, where he had managed to stay for a long time while serving in the Army, he was just another American soldier. In spite of his career, he had a deep mistrust for “white people.” I remember he used to say that he was in the Army because this was his country long before the white people came and he loved it. He did not love the people who governed it. All this very much played into the decision not to listen to the doctors’ recommendations about surgery. My... (shrink)

Michael Winters | : Dans cette contribution, on formule l’hypothèse qu’il y a deux styles de leadership dominants dans les discours épiscopaux qui émergent de nos jours aux États-Unis : un premier, plutôt agressif, qui adopte une attitude défensive vis-à-vis de la culture ambiante ; un second, plus traditionnel, qui se contente de relayer l’enseignement de l’Église et laisse les laïcs incarner cet enseignement dans la culture. | : In this paper, it will be argued that there are two (...) dominant styles of leadership which dominate in the United States today : one is the style of the culture warrior, who takes a defensive posture towards the dominant culture ; the other, more traditional, is that of the churchman, who teaches what the Church teaches, but lets the laity engage that teaching in the culture. (shrink)

This book highlights some of the most pressing safety, ethical, legal and societal issues related to the diverse contexts in which robotic technologies apply. Focusing on the essential concept of well-being, it addresses topics that are fundamental not only for research, but also for industry and end-users, discussing the challenges in a wide variety of applications, including domestic robots, autonomous manufacturing, personal care robots and drones.

The doctrine of double effect has a firm, respected position within Roman Catholic medical ethics. Neil M. Gorsuch, a judge on the U.S. Court of Appeals for the Tenth Circuit, believes that this doctrine also enjoys a central place within U.S. law. This essay examines and assesses Gorsuch’s thesis. National Catholic Bioethics Quarterly 11.1 (Spring 2011): 31–40.

Extensive media coverage of the nation’s response to its obligation to furnish health care for service members wounded in current overseas conflicts in Iraq and Afghanistan has elevated public consciousness of the importance of the U.S. military and veteran’s health care systems to a level not seen since the end of the Vietnam War. The number of casualties of U.S. military engagements has varied in each specific conflict and is a direct result of both the type of battle and the (...) military’s ability to handle battlefield injuries. (shrink)

This paper analyzes individual probabilistic predictions of state outcomes in the 2008 U.S. presidential election. Employing an original survey of more than 19,000 respondents, ours is the first study of electoral forecasting to involve multiple subnational predictions and to incorporate the influence of respondents’ home states. We relate a range of demographic, political, and cognitive variables to individual accuracy and predictions, as well as to how accuracy improved over time. We find strong support for wishful thinking bias in expectations, as (...) Republicans gave higher probabilities to McCain victories and were worse at overall prediction. In addition, we find that respondents living in states with higher vote shares for Obama performed better at prediction and displayed less wishful thinking bias. We conclude by showing that suitable aggregations of our respondents’ predictions outperformed Intrade (a prediction market) and fivethirtyeight.com (a poll-based forecast) at most points in time. (shrink)

CAPPE LPO Box 8260 ANU Canberra ACT 2601 Australia Tel: +61 (0)2 6125 4355, Fax: +61 (0)2 6125 6579; Email: michael.selgelid{at}anu.edu.au ' + u + '@' + d + ' '//--> Abstract This article reviews ethically relevant history of tuberculosis and recent developments regarding extensively drug resistant tuberculosis (XDR-TB). It argues that tuberculosis is one of the most important neglected topics in bioethics. With an emphasis on XDR-TB, it examines a range of the more challenging ethical issues associated with (...) tuberculosis: individual obligations to avoid infecting others, coercive social distancing measures, third-party notification, health workers' duty to treat contagious patients, and international justice. In each of these cases, key philosophical questions are highlighted and the need for empirical research/information is demonstrated. CiteULike Connotea Del.icio.us What's this? (shrink)

This article explores how economic inequality in the United States has led to growing levels of poverty, food insecurity, and obesity for the bottom segments of the economy. It takes the position that access to nutritious food is a requirement for living and for participating fully in the workplace and society. Because of increasing economic inequality in the United States, growing segments of the U.S. economy have become more food insecure and obese, eating unhealthy food for survival and suffering an (...) erosion of “equality of capabilities” that undermines their ability to play a “full and active part in the functioning of community.” Unequal access to nutritious foods in the United States is attributable in part to an industrial food system that is designed to produce short-term profits for industrial food producers, processors, and distributors that extract surplus labor value through market concentration and opportunistic behavior at the expense of the long-term benefits for consumers, food workers, and ecosystems. Economic inequality, food insecurity, and the erosion of equality of capabilities in the United States have given rise to protest movements, social movements, social innovations, and some modest strengthening of regulations to make access to and consumption of healthy food a right for every person. Implications for business and society research are explored. (shrink)

This article deals with a set-theoretic interpretation of the Talmudic rules of General and Specific, known as Klal and Prat (KP), Prat and Klal (PK), Klal and Prat and Klal (KPK) and Prat and Klal and Prat (PKP).

The employment application form is a major source of information about candidates for many companies. It is also a potential source of infringement by the company upon the privacy of the individual. Although September 1984 saw the passing into law of the Data Protection Act, the U.K. has not been in the forefront of civil rights where employees and personal information are concerned. During an extended interview with members of a personnel department of a major company, several issues relating to (...) privacy issues were revealed and these are discussed in the paper. Although these interviews were carried out before the new law came into effect, they do show that this and many similar organisations may experience problems over compliance. This is particularly likely in the computerisation of personnel records and employees' access to their personal information. (shrink)