This paper explores the connections between being Chinese in various senses and the study of Chinese philosophy.

In this essay, we will follow Tang Junyi’s lead in exploring issues related to Chinese diaspora and Chinese philosophy. While we largely endorse Tang’s call for overseas Chinese to establish themselves in their adopted lands, we will argue for a more nuanced view on the identity of Chinese people outside China: they are not marginalized individuals scattered out of “homeland” China, rather they are people legitimately established in their own respective countries. In this connection, we will also advance a view (...) of future Chinese philosophy as a world philosophy that takes roots in China as well as in the world at large. In our view, although Chinese immigrant thinkers in the past century have played a major role in promoting Chinese philosophy outside China, the importance of such a role is likely to decline along with the success of Chinese philosophy becoming a world philosophy. (shrink)

Objectives: The growing rate of retraction of scientific publications has attracted much attention within the academic community, but there is little knowledge about the nature of such retractions in schizophrenia-related research. This study aimed to analyze the characteristics of retractions of schizophrenia-related publications.

A combinatorial analysis of intrinsicality takes intrinsic properties to be independent of accompaniment: a property is intrinsic only if it is possible for a lonely or an accompanied thing to have it or lack it (I). Cameron argues that the combinatorial analysis in Langton & Lewis (1998) faces an epistemic circularity, which makes (I) suspicious. In this paper, I examine two approaches to free the combinatorial analyses from the circularity and find them all fail. Then I provide an outline of (...) an argument for (I) by appealing to the grounding analyses of intrinsicality, which shows an advantage of the grounding analyses over the combinatorial ones. (shrink)

Ratio, Volume 34, Issue 4, Page 303-311, December 2021.

This paper presents a Least Square Monte Carlo approach for accurately calculating credit value adjustment (CVA). In contrast to previous studies, the model relies on the probability distribution of a default time/jump rather than the default time itself, as the default time is usually inaccessible. As such, the model can achieve a high order of accuracy with a relatively easy implementation. We find that the valuation of a defaultable derivative is normally determined via backward induction when their payoffs could be (...) positive or negative. Moreover, the model can naturally capture wrong or right way risk. (shrink)

This paper attempts to assess the economic significance and implications of collateralization in different financial markets, which is essentially a matter of theoretical justification and empirical verification. We present a comprehensive theoretical framework that allows for collateralization adhering to bankruptcy laws. As such, the model can back out differences in asset prices due to collateralized counterparty risk. This framework is very useful for pricing outstanding defaultable financial contracts. By using a unique data set, we are able to achieve a clean (...) decomposition of prices into their credit risk factors. We find empirical evidence that counterparty risk is not overly important in credit-related spreads. Only the joint effects of collateralization and credit risk can sufficiently explain unsecured credit costs. This finding suggests that failure to properly account for collateralization may result in significant mispricing of financial contracts. We also analyze the difference between cleared and OTC markets. (shrink)

This article presents a comprehensive framework for valuing financial instruments subject to credit risk. In particular, we focus on the impact of default dependence on asset pricing, as correlated default risk is one of the most pervasive threats in financial markets. We analyze how swap rates are affected by bilateral counterparty credit risk, and how CDS spreads depend on the trilateral credit risk of the buyer, seller, and reference entity in a contract. Moreover, we study the effect of collateralization on (...) valuation, since the majority of OTC derivatives are collateralized. The model shows that a fully collateralized swap is risk-free, whereas a fully collateralized CDS is not equivalent to a risk-free one. (shrink)

The incremental risk charge (IRC) is a new regulatory requirement from the Basel Committee in response to the recent financial crisis. Notably few models for IRC have been developed in the literature. This paper proposes a methodology consisting of two Monte Carlo simulations. The first Monte Carlo simulation simulates default, migration, and concentration in an integrated way. Combining with full re-valuation, the loss distribution at the first liquidity horizon for a subportfolio can be generated. The second Monte Carlo simulation is (...) the random draws based on the constant level of risk assumption. It convolutes the copies of the single loss distribution to produce one year loss distribution. The aggregation of different subportfolios with different liquidity horizons is addressed. Moreover, the methodology for equity is also included, even though it is optional in IRC. (shrink)

The one-side defaultable financial derivatives valuation problems have been studied extensively, but the valuation of bilateral derivatives with asymmetric credit qualities is still lacking convincing mechanism. This paper presents an analytical model for valuing derivatives subject to default by both counterparties. The default-free interest rates are modeled by the Market Models, while the default time is modeled by the reduced-form model as the first jump of a time-inhomogeneous Poisson process. All quantities modeled are market-observable. The closed-form solution gives us a (...) better understanding of the impact of the credit asymmetry on swap value, credit value adjustment, swap rate and swap spread. (shrink)

This article presents a new model for valuing financial contracts subject to credit risk and collateralization. Examples include the valuation of a credit default swap (CDS) contract that is affected by the trilateral credit risk of the buyer, seller and reference entity. We show that default dependency has a significant impact on asset pricing. In fact, correlated default risk is one of the most pervasive threats in financial markets. We also show that a fully collateralized CDS is not equivalent to (...) a risk-free one. In other words, full collateralization cannot eliminate counterparty risk completely in the CDS market. (shrink)

COVID-19 often manifests with different outcomes in different patients, highlighting the complexity of the host-pathogen interactions involved in manifestations of the disease at the molecular and cellular levels. In this paper, we propose a set of postulates and a framework for systematically understanding complex molecular host-pathogen interaction networks. Specifically, we first propose four host-pathogen interaction (HPI) postulates as the basis for understanding molecular and cellular host-pathogen interactions and their relations to disease outcomes. These four postulates cover the evolutionary dispositions involved (...) in HPIs, the dynamic nature of HPI outcomes, roles that HPI components may occupy leading to such outcomes, and HPI checkpoints that are critical for specific disease outcomes. Based on these postulates, an HPI Postulate and Ontology (HPIPO) framework is proposed to apply interoperable ontologies to systematically model and represent various granular details and knowledge within the scope of the HPI postulates, in a way that will support AI-ready data standardization, sharing, integration, and analysis. As a demonstration, the HPI postulates and the HPIPO framework were applied to study COVID-19 with the Coronavirus Infectious Disease Ontology (CIDO), leading to a novel approach to rational design of drug/vaccine cocktails aimed at interrupting processes occurring at critical host-coronavirus interaction checkpoints. Furthermore, the host-coronavirus protein-protein interactions (PPIs) relevant to COVID-19 were predicted and evaluated based on prior knowledge of curated PPIs and domain-domain interactions, and how such studies can be further explored with the HPI postulates and the HPIPO framework is discussed. (shrink)

According to Zhiyi 智顗 (538–597), the founder of the Chinese Buddhist Tiantai school 天臺宗, “one object is all objects;” hence, all objects are profoundly interconnected. In this paper, I critically examine Zhiyi’s metaphysics of objects as presented in the historical Tiantai texts and subsequently develop a contemporary and accessible thesis of interconnectedness by integrating Zhiyi’s views with resources from contemporary analytic philosophy, particularly relative identity. By drawing on Zhiyi’s insights and incorporating contemporary philosophical ideas, I also illustrate how historical Chinese (...) Buddhism and contemporary analytic metaphysics can be mutually informing. (shrink)

Few would deny that something ontologically depends on something else. Given that something depends on something, what depends on what? Huayan Buddhism 華嚴宗, a prominent Chinese Buddhist school, is known for its extensive thesis of interdependence, according to which everything depends on everything else. This intriguing thesis is entangled with seemingly paradoxical claims that everything is not only identified with everything else but also contained within it. Moreover, the radical thesis of interdependence entails that dependence is pervasive and symmetric. In (...) this paper, I first develop a contemporary interpretation of Huayan interdependence by employing the definitional account of essence and the essence-based account of dependence. Through these contemporary resources, I elucidate and unify the theses of interdependence, mutual identity, and mutual containment within Huayan Buddhism. I then propose a unique framework of ontological dependence that suggests varying degrees of ontological dependence, aimed at accommodating and explaining away our intuitions against pervasive and symmetric dependence. By contemporizing Huayan Buddhism, I explore its potential and facilitate engagement between contemporary metaphysics and Huayan Buddhism. (shrink)

Chinese international students who studied in the United States received “double stigmatization” from American and Chinese authorities because of the “political othering” tactic during COVID-19. The research used a phenomenological approach to examine why and how specifically the transnational identity of Chinese international students in the United States shifted during the double stigmatization. The researcher conducted a total of three rounds of interviews with 15 Chinese international students who studied in the United States and returned to China between 2018 and (...) 2020, which culminated in 45 interviews through a longitudinal study to probe the transnational identities of this population before and during the double stigmatization; the study also examined how the mindsponge mechanism worked during the identity shifts and the interplay among stigmatization, transnational identity shifts, and the mindsponge mechanism. The study concluded that before COVID-19, Chinese international students had been stigmatized in both China and the United States. (shrink)

Dan Li (Đại học Diên An, Trung Quốc) -- Hiện nay, hầu hết người dân được khảo sát đều có chung mối quan ngại về việc bảo vệ môi trường [1]. Mặc dù đã có nhiều nghiên cứu tìm hiểu về các hành vi và tâm lý liên quan đến môi trường [2], nhưng hiểu biết đối với sự khác biệt giữa các thế hệ đối với mối quan tâm liên quan đến môi trường vẫn còn nhiều khoảng trống. Đặc (...) biệt là đối với các chủ doanh nghiệp tái chế rác thải nhựa, các hiểu biết này càng quan trọng hơn vì nó có thể ảnh hưởng đến xu hướng phát triển của ngành công nghiệp xử lý rác thải nhựa, một trong những vấn nạn cấp thiết toàn cầu. (shrink)

In this article Quine's program for reducing ontology to the semantic level is compared to Aquinas' metaphysical ontology. Some internal inconsistencies of Quine's quantificational account of existence are discussed. Aquinas' account of existence is explicated in response to Quine' mischaracterization of Scholastic ontology. The general nature of an amended logical account of existence incorporating Aquinas' ontological categories is indicated. Finally, recent attempts to harmonize Thomism and analytic philosophy are criticized for failing to note that the quantificational account of existence is (...) motivated by analytic philosophy's rejection of metaphysical ontology. Nothing short of a logical account of existence within the broader framework of the philosophy of being can legitimate the efforts of analytical Thomists. (shrink)

It is a truism that there are erroneous convictions in criminal trials. Recent legal findings show that 3.3% to 5%of all convictions in capital rape-murder cases in the U.S. in the 1980s were erroneous convictions. Given this fact, what normative conclusions can be drawn? First, the article argues that a moderately revised version of Scanlon’ s contractualism offers an attractive moral vision that is different from utilitarianism or other consequentialist theories, or from purely deontological theories. It then brings this version (...) of Scanlonian contractualism to bear on the question of whether the death penalty, life imprisonment, long sentences, or shorter sentences can be justified, given that there is a non-negligible rate of erroneous conviction. Contractualism holds that a permissible act must be justifiable to everyone affected by it. Yet, given the non-negligible rate of erroneous conviction, it is unjustifiable to mete out the death penalty, because such a punishment is not justifiable to innocent murder convicts. It is further argued that life imprisonment will probably not be justified (unless lowering the sentence to a long sentence will drastically increase the murder rate). However, whether this line of argument could be further extended would depend on the impact of lowering sentences on communal security. (shrink)

With growing global concerns about water scarcity and environmental sustainability, understanding the factors influencing individual water conservation behaviors is crucial. This study utilizes the Bayesian Mindsponge Framework (BMF) analytics to investigate the relationship between concerns of local issues and water conservation behaviors in a sample of 1831 residents in Albuquerque, New Mexico, USA. New Mexico is an arid region of which 90% faced severe drought driven by the most significant wildfire in state history and some of the driest months ever (...) recorded in 2022. The results show a positive association between the drought or water scarcity concern and the number of water conservation behaviors adopted. Likewise, the positive association between the concern about population growth and development and water conservation behaviors is also observed. However, further examination is needed due to the weak reliability of this relationship. In contrast, negative associations between concerns about water quality and water bills with water conservation behaviors are also identified. Based on these findings, the study discusses the potential of building the eco-surplus culture by improving information dissemination of water-saving methods and existing water-related issues in the local areas. (shrink)

Conciliationism faces a challenge that has not been satisfactorily addressed. There are clear cases of epistemically significant merely possible disagreement, but there are also clear cases where merely possible disagreement is epistemically irrelevant. Conciliationists have not yet accounted for this asymmetry. In this paper, we propose that the asymmetry can be explained by positing a selection constraint on all cases of peer disagreement—whether actual or merely possible. If a peer’s opinion was not selected in accordance with the proposed constraint, then (...) it lacks epistemic significance. This allows us to distinguish the epistemically significant cases of merely possible disagreement from the insignificant ones. (shrink)

In the United States, public opinions about climate change have become polarized, with a stark difference in the belief in climate change. Climate change denialism is pervasive among Republicans, especially conservatives, contrasting the high recognition of human-induced climate change issues among Democrats. As the water crisis is closely linked to climate change, the current study aims to examine how the belief in climate change’s impacts on future water supply uncertainty affects water conservation behaviors and whether the effect is conditional on (...) being a Republican. The Bayesian Mindsponge Framework (BMF) analytics was performed on a dataset of 1831 water users in an arid region (Albuquerque, New Mexico). The analysis shows that water users’ belief in climate change’s impacts on future water supply uncertainty positively affects the number of water conservation behaviors they adopt, regardless of whether they are Republicans. Although being a Republican does not significantly negatively moderate the association between climate change belief and water conservation behaviors, the result still underscores the importance of fighting climate change denialism. Otherwise, it will not only hinder the climate change alleviation efforts but also exacerbate the water crisis. Several strategies to reduce climate change denialism are also recommended. (shrink)

Both motivational internalism and externalism need to explain why sometimes moral judgments tend to motivate us. In this paper, I argue that Dreier’ second-order desire model cannot be a plausible externalist alternative to explain the connection between moral judgments and motivation. I explain that the relevant second-order desire is merely a constitutive requirement of rationality because that desire makes a set of desires more unified and coherent. As a rational agent with the relevant second-order desire is disposed towards coherence, she (...) will have some motivation to act in accordance with her moral judgments. Dreier’s second-order desire model thus collapses into a form of internalism and cannot be a plausible externalist option to explain the connection between moral judgments and motivation. (shrink)

This paper presents a new model for pricing OTC derivatives subject to collateralization. It allows for collateral posting adhering to bankruptcy laws. As such, the model can back out the market price of a collateralized contract. This framework is very useful for valuing outstanding derivatives. Using a unique dataset, we find empirical evidence that credit risk alone is not overly important in determining credit-related spreads. Only accounting for both collateral arrangement and credit risk can sufficiently explain unsecured credit costs. This (...) finding suggests that failure to properly account for collateralization may result in significant mispricing of derivatives. We also empirically gauge the impact of collateral agreements on risk measurements. Our findings indicate that there are important interactions between market and credit risk. (shrink)

Lack of a historical sense is the hereditary defect of philosophers. … So what is needed from now on is historical philosophizing, and with it the virtue of modesty.

In this thesis, I explore motivational internalism and externalism, which concern the relationship between moral judgments and motivation. I first introduce the basic terms and different forms of internalism and externalism, including the externalist objections to internalism based on the famous counterexamples. I then argue against externalism by defending and developing Michael Smith’s fetishism argument. I not only respond to the externalist objections to the fetishism argument but also further argue against different externalist explanations of moral motivation that intend to (...) avoid the fetishism charge. Finally, I re-examine different forms of internalism in order to argue for a new form of internalism that can better preserve our internalist intuitions whilst accommodating the externalist counterexamples. My ultimate conclusion will be that the most plausible form of internalism to accept is constitutional, unconditional, relatively strong, direct internalism that is formulated in terms of dispositional desires. (shrink)

In this paper, we attempt to de-naturalize the prevailing economistic imaginary of work that Max Weber and later commentators described as ‘protestant work ethic,’ epitomized in the figure of homo economicus. We do so by contrasting it with the imaginary of skillful work that can be found in vignettes about artisans in the Zhuangzi. We argue that there are interesting contrasts between these views concerning 1) direct goal achievement vs. indirect goal achievement through the cultivation of skills; 2) the hierarchization (...) of mental versus physical dimensions of work; 3) the crafting of non-dominating relationships between the working subject, their object, and their instruments of work, which leads to questions about the sustainability of these relationships; and 4) the relationship between work and well-being, which the Daoist texts conceptualize in a much more holistic, but also more presentist way than Western economic rationality. We conclude by pointing out the relevance of these differences for several contemporary debates about work, by denaturalizing a dominant imaginary of work, by distinguishing different forms of work, by suggesting a different relation between work and nature, and by raising questions about the desirability of the automation of work. (shrink)

Ang papel ay paglalagom ng itinuturing na pinakamahalagang yugto ng buhay ni José Rizal—ang kanyang pagkakatapon sa Dapitan, sa lente ng konseptong “bagani” ng ating mga ninuno. Sa pagbanggit sa lang nauna nang pag-aaral ukol kay Rizal, ipapakitang kung papaanong ang yugto sa Dapitan ay ang katuparan ng kanyang mga layunin sa La Liga Filipina, na kanyang isinabuhay kasama ang bayan. Sa lente ng kasalukuyang pandemyang COVID 19, makikita natin na tila naranasan din ni Rizal sa kanyang pagkakatapon ang ilang (...) bagay na ating dinaranas ngayon, na tila siya isang frontliner na nasa lockdown, inilagay sa kuwarentena, nag-homeschooling, nagkaroon ng lockdown sickness at namahagi ng ayudang pangkabuhayan sa mga mamamayan ng isang natutulog na bayan upang ito ay sumiglang muli. Nawa ay maging inspirasyon sa bayan na anuman ang hamon at mga balakid, walang makapipigil sa isang Pilipino na magsilbi sa bayan gamit ang kanyang mga talento at manatiling liwanag ng katotohanan at kaalaman. (shrink)

Equity-linked securities with a guaranteed return become popular in a volatile market environment. This paper presents a new model for valuing guaranteed equity-linked notes. We consider a security whose value depends on the performance of a basket of equities averaged over certain points in time, but that is floored by a guaranteed amount. We show that the security’s price is given by the sum of the guaranteed amount plus the price of an Asian style option on the basket above. The (...) model provides analytical formulas for the security’s price as well as for corresponding hedge ratios; these respective formulas appear to be accurate over a wide range of underlying security parameter values, based on numerical testing against a Monte Carlo benchmark, Finally, we apply our method to value a type of segregated fund with a maturity guarantee. (shrink)

The LIBOR Market Model has become one of the most popular models for pricing interest rate products. It is commonly believed that Monte-Carlo simulation is the only viable method available for the LIBOR Market Model. In this article, however, we propose a lattice approach to price interest rate products within the LIBOR Market Model by introducing a shifted forward measure and several novel fast drift approximation methods. This model should achieve the best performance without losing much accuracy. Moreover, the calibration (...) is almost automatic and it is simple and easy to implement. Adding this model to the valuation toolkit is actually quite useful; especially for risk management or in the case there is a need for a quick turnaround. (shrink)

The ML community recognizes the importance of anticipating and mitigating the potential negative impacts of benchmark research. In this position paper, we argue that more attention needs to be paid to areas of ethical risk that lie at the technical and scientific core of ML benchmarks. We identify overlooked structural similarities between human IQ and ML benchmarks. Human intelligence and ML benchmarks share similarities in setting standards for describing, evaluating and comparing performance on tasks relevant to intelligence. This enables us (...) to unlock lessons from feminist philosophy of science scholarship that need to be considered by the ML benchmark community. Finally, we outline practical recommendations for benchmark research ethics and ethics review. (shrink)

This article presents a new methodology for pricing and hedging commodity derivatives. A generic model calibration is provided. The calibration procedure consists of an offline step where the mean reversion rates, the ratio of the long and short factor volatilities and the correlation between the long and short factors are determined via historical analysis. This offline step is performed relatively infrequently. There’s also an online step of the calibration which happens every time the model is used to price an option (...) or to simulate price paths. Empirical study shows that the model is quite accurate. (shrink)

Given the close relatedness of local issues, water scarcity, and sustainability, this research sought to investigate the factors affecting residents’ willingness to reuse direct and indirect potable water in the arid region. Utilizing the Bayesian Mindsponge Framework (BMF), an analysis was undertaken with a sample of 1,831 water consumers in the City of Albuquerque, the most populous city in New Mexico, United States. The primary analysis revealed positive associations between local concerns about drought or water scarcity and population growth with (...) residents' willingness to reuse direct and indirect potable water. Conversely, concerns about water quality and water bills were found to be negatively associated with the willingness to utilize directly and indirectly recycled water for drinking. In light of these findings, the study explores the potential of fostering an eco-surplus culture by cultivating a sense of environmental responsibility and acknowledging the relationship between local issues and environmental conditions. Simultaneously, the study proposes collaboration between the government and residents to promote water reuse programs to conserve water resources effectively. (shrink)

During the lifetime of a structured product, payment events and cancellation events mainly affect the value of the option. This article presents a model for pricing generic cancellable option. The model is used to build most common kinds of cancellation schedules and compute the cancellation probability.

This paper argues that the reduced-form jump diffusion model may not be appropriate for credit risk modeling. To correctly value hybrid defaultable financial instruments, e.g., convertible bonds, we present a new framework that relies on the probability distribution of a default jump rather than the default jump itself, as the default jump is usually inaccessible. As such, the model can back out the market prices of convertible bonds. A prevailing belief in the market is that convertible arbitrage is mainly due (...) to convertible underpricing. Empirically, however, we do not find evidence supporting the underpricing hypothesis. Instead, we find that convertibles have relatively large positive gammas. As a typical convertible arbitrage strategy employs delta-neutral hedging, a large positive gamma can make the portfolio highly profitable, especially for a large movement in the underlying stock price. (shrink)

This article presents a generic model for pricing financial derivatives subject to counterparty credit risk. Both unilateral and bilateral types of credit risks are considered. Our study shows that credit risk should be modeled as American style options in most cases, which require a backward induction valuation. To correct a common mistake in the literature, we emphasize that the market value of a defaultable derivative is actually a risky value rather than a risk-free value. Credit value adjustment (CVA) is also (...) elaborated. A practical framework is developed for pricing defaultable derivatives and calculating their CVAs at a portfolio level. (shrink)

This paper presents a new model for valuing hybrid defaultable financial instruments, such as, convertible bonds. In contrast to previous studies, the model relies on the probability distribution of a default jump rather than the default jump itself, as the default jump is usually inaccessible. As such, the model can back out the market prices of convertible bonds. A prevailing belief in the market is that convertible arbitrage is mainly due to convertible underpricing. Empirically, however, we do not find evidence (...) supporting the underpricing hypothesis. Instead, we find that convertibles have relatively large positive gammas. As a typical convertible arbitrage strategy employs delta-neutral hedging, a large positive gamma can make the portfolio highly profitable, especially for a large movement in the underlying stock price. (shrink)

This article presents a new model for valuing a credit default swap (CDS) contract that is affected by multiple credit risks of the buyer, seller and reference entity. We show that default dependency has a significant impact on asset pricing. In fact, correlated default risk is one of the most pervasive threats in financial markets. We also show that a fully collateralized CDS is not equivalent to a risk-free one. In other words, full collateralization cannot eliminate counterparty risk completely in (...) the CDS market. (shrink)

On the basis of PM2.5 data of the national air quality monitoring sites, local population data, and baseline all-cause mortality rate, PM2.5-related health economic benefits of the Air Improvement Action Plan implemented in Wuhan in 2013–2017 were investigated using health-impact and valuation functions. Annual avoided premature deaths driven by the average concentration of PM2.5 decrease were evaluated, and the economic benefits were computed by using the value of statistical life (VSL) method. Results showed that the number of avoided premature deaths (...) in Wuhan are 21,384 (95% confidence interval (CI): 15,004 to 27,255) during 2013–2017, due to the implementation of the Air Improvement Action Plan. According to the VSL method, the obtained economic benefits of Huangpi, Wuchang, Hongshan, Xinzhou, Jiang’an, Hanyang, Jiangxia, Qiaokou, Jianghan, Qingshan, Caidian, Dongxihu, and Hannan District were 8.55, 8.19, 8.04, 7.39, 5.78, 4.84, 4.37, 4.04, 3.90, 3.30, 2.87, 2.42, and 0.66 billion RMB (1 RMB = 0.1417 USD On 14 October 2019), respectively. These economic benefits added up to 64.35 billion RMB (95% CI: 45.15 to 82.02 billion RMB), accounting for 4.80% (95% CI: 3.37% to 6.12%) of the total GDP of Wuhan in 2017. Therefore, in the process of formulating a regional air quality improvement scheme, apart from establishing hierarchical emission-reduction standards and policies, policy makers should give integrated consideration to the relationship between regional economic development, environmental protection and residents’ health benefits. Furthermore, for improving air quality, air quality compensation mechanisms can be established on the basis of the status quo and trends of air quality, population distribution, and economic development factors. (shrink)

This paper presents an analytical model for valuing interest rate swaps, subject to bilateral counterparty credit risk. The counterparty defaults are modeled by the reduced-form model as the first jump of a time-inhomogeneous Poisson process. All quantities modeled are market-observable. The closed-form solution gives us a better understanding of the impact of the credit asymmetry on swap value, credit value adjustment, swap rate and swap spread.

I. EXECUTIVE SUMMARY The MRCT Center Post-trial Responsibilities: Continued Access to an Investigational Medicine Framework outlines a case-based, principled, stakeholder approach to evaluate and guide ethical responsibilities to provide continued access to an investigational medicine at the conclusion of a patient’s participation in a clinical trial. The Post-trial Responsibilities (PTR) Framework includes this Guidance Document as well as the accompanying Toolkit. A 41-member international multi-stakeholder Workgroup convened by the Multi-Regional Clinical Trials Center of Brigham and Women’s Hospital and Harvard University (...) (MRCT Center) developed this Guidance and Toolkit. Project Motivation A number of international organizations have discussed the responsibilities stakeholders have to provide continued access to investigational medicines. The World Medical Association, for example, addressed post-trial access to medicines in Paragraph 34 of the Declaration of Helsinki (WMA, 2013): “In advance of a clinical trial, sponsors, researchers and host country governments should make provisions for post-trial access for all participants who still need an intervention identified as beneficial in the trial. This information must also be disclosed to participants during the informed consent process.” This paragraph and other international guidance documents converge on several consensus points: • Post-trial access (hereafter referred to as “continued access” in this Framework [for terminology clarification – see definitions]) is the responsibility of sponsors, researchers, and host country governments; • The plan for continued access should be determined before the trial begins, and before any individual gives their informed consent; • The protocol should delineate continued access plans; and • The plan should be transparent to potential participants and explained during the informed consent process. -/- However, there is no guidance on how to fulfill these responsibilities (i.e., linking specific responsibilities with specific stakeholders, conditions, and duration). To fill this gap, the MRCT Center convened a working group in September of 2014 to develop a framework to guide stakeholders with identified responsibilities. This resultant Framework sets forth applicable principles, approaches, recommendations and ethical rationales for PTR regarding continued access to investigational medicines for research participants. (shrink)

Little attention has been paid to the place attachment and homeland construction for refugees and their descendants in China. This study investigates the process by which the place attachment of Young Overseas Chinese Relatives is shaped in the context of resettlement sites. This qualitative research employed ethnographic fieldwork, and the author collected local literature and materials from February to December 2019 through participatory observation, in-depth interviews, and questionnaires. It is believed that the construction of a new homeland in the community, (...) the emotional experience of the Young in childhood, and the cultural logic of place attachment shape place attachment. The process by which place attachment is shaped is interwoven with homeland construction, which indicates that the living state and mentality of the Young are becoming increasingly stable. The Young developed different mentalities on the basis of traditional Confucian culture in responding to the socio-cultural environments. (shrink)

Everyone wants to be happy. Happiness is obviously a good thing and if we can get it without sacrificing other important things, we would. Most people wish not just for their own happiness but also the happiness of people they love; some compassionate souls may even wish for the happiness of all sentient creatures. What exactly is it that we all want? Is it to be pleased or satisfied? To feel tranquil or joyous? To attain certain objective goods? And what (...) role does happiness play in morality? Is the production of happiness the goal of morally right action? Is it the organizing principle of moral theory? Or is it just one contingent value among many? This entry reviews answers to these questions from the perspectives of ancient, modern, and contemporary philosophy. (shrink)

Climate change and environmental degradation are threatening the existence of humanity. The youth have the potential and capability to play a pivotal role in tackling these challenges. Therefore, the current study aims to examine how school and family environmental education can enhance environmental knowledge, willingness to take action, and pro-environmental behaviors among children and young people. The Bayesian Mindsponge Framework (BMF) analytics was utilized on a nationally representative dataset of 2069 Vietnamese primary, secondary, and high school students. The analysis results (...) suggest that school and family environmental education is beneficial for improving students’ environmental knowledge and willingness to take environmental actions. Notably, the effect of school education is more substantial for cultivating environmental knowledge, whereas family education has a stronger impact on raising students’ willingness than school education. Students with higher levels of environmental knowledge are more likely to conduct pro-environmental behaviors only when they are willing to take environmental actions. If students are unwilling to act, higher environmental knowledge is negatively associated with the likelihood of pro-environmental behavior. Following these findings, we call for coordinated education efforts of schools and families to cultivate students’ eco-surplus culture. The education efforts should be implemented along with exposing students to environmental settings and encouraging them to read environmental books. (shrink)

The three learning modalities in nursing education are classroom meetings, skill laboratory practices, and clinical practice in hospital or community settings. In clinical internships, the collaborative self-directed learning method is highly encouraged among nursing students. The use of information and communication technologies (ICT) in clinical learning supports the implementation of evidence-based nursing and student-centered learning. The current study examines whether the relationship between social influence and ICT using intention is moderated by the daily duration of use and the number of (...) classmates being friends on social media. The Bayesian Mindsponge Framework (BMF) analytics was employed on a dataset of 702 Moroccan nursing students. We found that social influence was positively associated with nursing students’ intention to use ICT for clinical learning during the internship. This positive association was positively moderated by the daily duration of social media usage and negatively moderated by the number of classmates being friends on social media. These findings underscore the potential of using social media platforms to facilitate the incorporation of ICT and social media in nursing education and training. However, the adverse effects of social media on students’ mental well-being also need to be acknowledged and managed appropriately. (shrink)