bluuebunny/crossref_metadata_2025_split huggingface dataset:
St.Francis and St.Raymond
Authors: Wolf Kenneth Baxter 
Published: October 2003

Abstract
Francis's particular experiment in poverty must be considered within the context of other contemporary Christian efforts to embrace “holy poverty” as a form of imitatio Christi. Late twelfth‐ and early thirteenth‐century Italy was brimming with such experiments, many of which involved urban laymen of means who, like Francis, renounced their former lives in the world but, unlike Francis, used their resources to assist the poor, typically by establishing hospices. This chapter reviews the so‐called “civic saints” whose lives overlapped that of Francis, with particular attention to Raymond of Piacenza (d. 1200). A former shoemaker, Raymond dedicated his life to a form of voluntary poverty that revolved around helping the poor and sick and advocating for the outcasts of his native town in explicit imitatio Christi.
Political Economy
Authors: de Dios Emmanuel S. , Hutchcroft Paul D. 
Published: October 2003

AbstractProvides a brief account of major historical trends in the Philippine political economy. It begins by examining the character of the economic elite that emerged during the country's integration into the world economy in the nineteenth century. It focuses particular attention on the period since 1986 and argues that political and institutional factors are central to understanding the uneven and often lagging character of Philippine economic performance. Four political regimes have been surveyed, each with its notable strengths and weaknesses: (1) Aquino's “modest revolution;” (2) Ramos administration characterized as one of “building reform momentum;” (3) the “flawed experiment” of the Estrada administration; and (4) the “dilemma of normalcy” under the Macapagal–Arroyo administration.
Public Finance
Authors: Sicat Gerardo P. , Abdula Rahimaisa D. 
Published: October 2003

AbstractReviews the Philippine public finance experience over two decades from 1980 to 2000. It notes that in some years, the government's dominant fiscal problems were caused, at least initially, by external economic shocks, with domestic adjustments to them – including political upheavals – resulting in a unique trajectory of development experience. Its review of public finance history covers operational deficits and fiscal stabilization, public expenditure, revenue mobilization, and “hidden” deficits from quasi‐fiscal activities. The study first asserts that the country's fiscal strategy has been influenced for the most part by the need to rein in domestic expenditure to match the level of available fiscal resources. Next, it argues that the growth in public expenditure has largely been constrained by the scarcity of fiscal resources. Finally, it shows that the strengthening tax administration remains a sticking point, as nontax revenues are only temporary measures to bridge the expenditure gap.
International Dimensions
Authors: Bautista Romeo , Tecson Gwendolyn 
Published: October 2003

AbstractThis chapter is an interpretive essay examining the related influences of foreign trade and trade policy on income growth and distribution in the Philippines based on existing studies and findings. It also analyzes other types of international economic transactions – foreign investment and remittances – to determine their contribution to advancing the twin objectives of economic growth and equity. The chapter begins by describing the evolution of Philippine trade and exchange rate policies since the early 1970s and examining their effects on sectoral incentives. It then discusses the growth and changing structure of Philippine foreign trade, relating them to the nature of domestic policies adopted. Further repercussions of trade and exchange rate policies on overall income growth and distribution are presented, as are the roles of other international transactions in the promotion of economic growth with equity and how they have been influenced by government policies. Finally, the chapter addresses relevant issues concerning recent domestic and international developments that bear directly on the country's trade regime.
Services
Authors: Abrenica Ma. Joy V. , Llanto Gilberto M. 
Published: October 2003

AbstractThis chapter documents the changing face of the services industry over the past three decades (1970–2000). It makes a special reference to two case studies – telecommunications and banking. Both are largely positive cases of reform leading to a more efficient provision of a range of services. There are other cases of successful reforms in the sector, including domestic shipping and civil aviation. This chapter also closely examines regulations that distort trade in services.
Population, Human Resources, and Employment
Authors: Herrin Alejandro N. , Pernia Ernesto M. 
Published: October 2003

AbstractReviews critical aspects of population growth, fertility, human resource development, and employment. It identifies key issues and suggests suitable policy directions. A framework is offered for the design of a national population policy based on an analysis of the potential sources of population growth. This underscores the called‐for multiple policy responses.
Socrates, Pleasure, and Value
Authors: Rudebusch George 
Published: October 2003

Abstract
This book argues that the Socrates of the Apology, Crito, Protagoras, Gorgias, and Republic 1 can consistently and compellingly speak of pleasure and virtue as the good for human beings by identifying pleasant with virtuous activity for a human being (ch. 10). The argument is as follows: Socrates (in the Protagoras and Gorgias) can consistently and compellingly speak of pleasure as the good for human beings (chs. 3–5). Socrates’ hedonism can be interpreted to be a compelling theory of modal, not sensate pleasure (chs. 6 and 7). Socrates (in the Apology, Crito, Gorgias, and Republic 1) can consistently and compellingly speak of virtue as the good for human beings (chs. 8 and 9). Chapter 2 defends the method of interpretation used throughout the book.
Ethical Protagoreanism
Authors: Rudebusch George 
Published: October 2003

AbstractThe Gorgias seems to attack hedonism; the Protagoras seems to defend it. The resolution to this apparent inconsistency is to deny that the Gorgias attacks hedonism, in general. I argue that the target attacked in the Gorgias is hedonism of apparent pleasure: an ethical Protagoreanism.
Callicles Refuted
Authors: Rudebusch George 
Published: October 2003

AbstractIt is of the highest importance to Plato to refute Callicles’ hedonist thesis, and for the purposes of such a refutation, he gives two arguments, which I call the argument from opposites (495e–497d) and the argument from pleased cowards (497d–499a). I give a new interpretation of these arguments and show that both arguments are defensible.
Does Socrates Consistently Hold the Sufficiency Thesis?
Authors: Rudebusch George 
Published: October 2003

Abstract
Although Socrates gives a compelling argument in Republic book 1 that virtue is sufficient for happiness, in other passages he seems to hold that it is insufficient. Brickhouse and Smith resolve the apparent inconsistency by attributing an insufficiency thesis to Socrates. I argue, against their interpretation, that Socrates can consistently hold the sufficiency thesis.
How Socrates Can Make Both Pleasure and Virtue the Chief Good
Authors: Rudebusch George 
Published: October 2003

Abstract
The Socrates of early Platonic dialogs defends both the following claims about human good: (i) Pleasure is the good (in the Protagoras); (ii) Virtue is the good (in the Apology and Crito). I reconcile these claims by showing how Socrates can identify virtuous activity with pleasant activity for a human being. The key is to interpret pleasure as modal, not sensate.
The American Colossus
Authors: Nye Joseph S. 
Published: October 2003

Abstract
The U.S. security policy needs to be based on a proper appreciation of the roots of the nation's superpower status, which recognizes the contribution of “soft” (economic and cultural) power to the defense of a balanced world system, which would preclude the formation of peer competitors or an anti‐U.S. consensus. This chapter assesses the potential of China, Japan, Russia, India and the European Union to challenge U.S. hegemony, or to contribute to such a challenge.
The Information Revolution
Authors: Nye Joseph S. 
Published: October 2003

Abstract
The information revolution, which is now transforming societies around the world, is also changing the nature of governments and sovereignty, increasing the role of non‐state actors, and enhancing the importance of “soft” power in foreign policy. The U.S. foreign policy needs to anticipate its effects in shaping interstate relations at three levels that affect the utility of “soft” power: first, in terms of the distribution of information management skills; second, in terms of competitive economic advantage; third, in terms of strategic intelligence‐gathering. These levels do not lie in the narrow domain of government action, but reflect broad arenas of societal capability in which “hard” power is merely tangential.
Globalization
Authors: Nye Joseph S. 
Published: October 2003

Abstract
The internationalization of the world has been proceeding for centuries, though not with the “thickness” of pace and intensity of globalization today. The notion that globalization is tantamount to Americanization is commonplace but simplistic. While the spread of U.S. economic and cultural influence is an important feature of globalization, the latter is a very much wider phenomenon that is affecting U.S. society itself. While U.S. preponderance is engendering centers of resistance in some cultures, the globalization being resisted is actively assisting socioeconomic development – and it is the changes being induced by this modernization, rather than by the American presence in it, which informs the antimodernism that presents itself as anti‐Americanism. What U.S. foreign economic policy needs to guard against is the emergence of patterns of economic inequality, which foment hatred, and this will require U.S. assistance in the creation of global networks through which preventive governance can be exercised.
The Home Front
Authors: Nye Joseph S. 
Published: October 2003

Abstract
A key concern in U.S. security policy planning must be to identify the risks of moral and cultural decay from within, that could erode and destroy the sources of U.S. “soft” power, and thereby conduce toward a repetition of the fall of the Roman empire. This concern essentially involves U.S. self‐confidence in its values and institutions, and the preservation of America's social capital.
Redefining the National Interest
Authors: Nye Joseph S. 
Published: October 2003

Abstract
The issues raised in the foregoing chapters demonstrate the importance, insufficiently appreciated by the current administration of President George. W. Bush, of defining the U.S. national interest in a manner, which addresses the wider concerns of world order and stability, and which aims to defend the humanitarian values on which such order and stability depend. It is necessary for U.S. foreign policy to recalibrate its sense of priorities, and to recognize that there is a U.S. interest in preserving the “public good” of a stable international social and economic order.
Understanding and Misunderstanding Trust
Authors: Solomon Robert C. , Flores Fernando 
Published: October 2003

Abstract
How we think about trust (confusing it, for example, with total control, with “blind” or “simple” trust, or with reliance, risk and probability) makes trust possible or more difficult or even impossible. Simple trust is naïve trust. Blind trust is self‐deceived trust. Both are much less than authentic trust.
Sentimental Journey: The Illusion of Validity
Authors: Shefrin Hersh 
Published: October 2003

Abstract
Many investors believe they can make money by betting against the market predictions contained in advisory newsletters. Yet, they are wrong. Investors are wrong about advisory newsletters, and they hold fast to mistaken beliefs. And the issue goes beyond the predictions of newsletter writers. The general question, the core issue of the chapter, is why people hold views that fly in the face of empirical evidence. The general explanation centers on overconfidence, overconfidence that stems from the tendency to overlook disconfirming evidence. Consequently, overconfident investors come to hold invalid beliefs. They succumb to what psychologists Robin Hogarth and the late Hillel Einhorn call the illusion of validity.
Picking Stocks to Beat the Market
Authors: Shefrin Hersh 
Published: October 2003

AbstractThe third theme of behavioral finance is inefficient markets. In recent years scholars have produced considerable evidence that heuristic‐driven bias and frame dependence cause markets to be inefficient. Scholars use the term “anomalies” to describe specific market inefficiencies. For this reason, Eugene Fama characterizes behavioral finance as “anomalies dredging.” This chapter discusses what behavioral finance implies about picking stocks and beating the market. Market efficiency is a direct challenge to active money managers, because it implies that trying to beat the market is a waste of time. Why? Because no security is mispriced in an efficient market, at least relative to information that is publicly available. Inside information may be another story. The chapter discusses whether the stock recommendations made by brokerage houses have beaten the market, and a series of effects discussed in the literature: the winner–loser effect, momentum, the size effect, the book‐to‐market effect, the effect of a change in analysts' recommendations.
Biased Reactions to Earnings Announcements
Authors: Shefrin Hersh 
Published: October 2003

AbstractMispricing is complicated. Sometimes mispricing results in reversals, while at other times it results in momentum. Momentum and reversals co‐exist, despite lying at diametrically opposite ends of the spectrum. The academic scholars participating in the market efficiency debate have been grappling with what this co‐existence means. Proponents of market efficiency view these phenomena as nothing more than random deviations from efficient prices. Proponents of behavioral finance view them as systematic departures from efficient prices. To shed additional light on the co‐existence issue, this chapter is devoted to post‐earnings‐announcement drift, a phenomenon that involves both reversals and momentum.
Portfolios, Pyramids, Emotions, and Biases
Authors: Shefrin Hersh 
Published: October 2003

Abstract
Harry Markowitz, the pioneer of modern portfolio theory, developed the theory of mean‐variance portfolios, one of the pillars of standard finance. But he also developed the basic ideas that underlie frame dependence and loss aversion. So, when it came time to choose his own retirement portfolio, which way did he play it? He played it the behavioral way. Most investors play it the behavioral way. Playing it the behavioral way means that they base their portfolio choices, not on mean‐variance principles, but on frame dependence, heuristic‐driven bias, and something called the emotional timeline. In this chapter I describe how these three elements together shape (1) the kinds of portfolios that investors choose; (2) the types of securities investors find attractive; (3) the relationship that investors form with financial advisors; and (4) the biases to which investors are subject. The combination of emotion and framing induces many investors to structure their portfolios as “layered pyramids.” This structure is especially important for issues of security design. A well‐designed security must fit naturally into a layered pyramid. In this respect, the emotion of regret lies at the heart of the investor–advisor relationship. Notably, heuristic‐driven bias inhibits investors from diversifying fully, and induces them to trade too frequently.
The Money Management Industry: Framing Effects, Style “Diversification,” and Regret
Authors: Shefrin Hersh 
Published: October 2003

Abstract
Placing funds with an active money manager is typically a bad bet. Yet, institutions continue to hire active money managers. Why? The short answer is that the individuals who serve on institutional investment committees exhibit frame dependence and heuristic‐driven bias. When it comes to framing, committee members tend to think of portfolios as a series of mental accounts, with associated reference points known as benchmarks. Therefore, they tend to mistake variety in manager “styles” for true diversification. In addition, reference point thinking tends to make people give opportunity costs less weight than out‐of‐pocket costs of the same magnitude. In addition to frame dependence, members of institutional investment committees bear responsibility for the performance of the portfolio. Consequently, they are vulnerable to regret. Choosing active managers enables committee members to shift some of the responsibility for performance onto the managers, thereby reducing their own exposure to regret. Heuristic‐driven bias stems mostly from reliance on representativeness. Specifically, representativeness underlies the mistaken belief in a “hot hand,” an effect that leads sponsors to believe, mistakenly, that they have the ability to pick managers who can beat the market.
Optimism in Analysts' Earnings Predictions and Stock Recommendations
Authors: Shefrin Hersh 
Published: October 2003

Abstract
Investors are slow to learn that security analysts do not always mean what they say. What investors hear is not always what analysts mean. This is partly because analysts do not always mean what they say. They frequently say “hold” but mean “sell, ” or say “buy” when they believe “hold. ” As a result, Wall Street analysts came under fire after the collapse of the 1990s technology bubble. Major brokerage firms were fined. Individual security analysts were barred from the industry for life. Moreover, analysts are prone to bias and error. And some managers and investors appear to exhibit frame dependence as well, with reference point effects in the earnings game. However, the main behavioral bias seems to be excessive optimism.
Options: How They're Used, How They're Priced, and How They Reflect Sentiment
Authors: Shefrin Hersh 
Published: October 2003

Abstract
Option markets reflect all three behavioral themes. The chapter is organized around the way options are (1) used; (2) priced; and (3) reflect investor sentiment. The chapter begins with the popular ways investors use options, where frame dependence figures prominently. The focus is on covered call writing, but also discusses how employees make decisions about exercising company stock options. In discussing pricing, the discussion emphasizes the relationship between investors' expectations about future volatility, so called “implied volatility,” and actual volatility. The point here is that heuristic‐driven bias moves implied volatility away from its objective counterpart. In other words, heuristic‐driven bias causes option markets to be inefficient. The chapter discusses two related phenomena that stem from the effect the 1987 stock market crash had on implied volatility. One is known as “crashophobia,” and the other is known as the “crash premium.” The chapter ends with a discussion about the influence investor sentiment has had on patterns of option trading.
The Tragic Sense of Life
Authors: Solomon Robert C. 
Published: October 2003

Abstract
The concept of the tragic sense of life has dropped out of contemporary sensibility, but tragedy, of course, continues. We deny tragedy by blaming, often the victim. The problem is traced back to St Augustine's “Problem of Evil” that challenges the goodness and power of God in the face of apparently meaningless human suffering. The search for meaning is the ultimate problem of tragedy. Fate and fatalism are attempts to give meaning to the world, to see the world in a certain kind of order, and to give it a meaning.
Thinking Death in the Face
Authors: Solomon Robert C. 
Published: October 2003

Abstract
Death has always been an obvious part of life, but we find it easy to deny death because it touches most of us so rarely. But there are many ways of denying death, including philosophical postures that evade the real issues in favor of logical puzzles. Epicurus introduced one such puzzle many years ago when he declared, “death is nothing.” But death is also fetished in contemporary culture. What is missing from most philosophical accounts is a sense of the social dimension of death.
Recovering Personal Identity
Authors: Solomon Robert C. 
Published: October 2003

Abstract
The self or soul has always been one of the central concerns of both philosophy and religion, but self and soul have always been evasive. Descartes defines the modern dilemma of selfhood and raised “the mind–body problem,” but there are alternative perspectives on the self or soul that do not raise any such problem. The self or soul is ultimately social and “socially constructed” and not individual. The chapter also examines virtue ethics and the notion of character.
Tone
Authors: Scruton Roger 
Published: October 2003

Abstract
An account of the primary elements of the musical experience, arguing that rhythm, accent, melody, harmony, and movement are all features of the intentional object of musical perception (‘tone’) but not features of the material object (‘sound’) in which that intentional object is heard. Musical perception involves an act of metaphorical transfer, which orders sounds according to concepts that do not literally apply to them.
Analysis
Authors: Scruton Roger 
Published: October 2003

AbstractExplores the various approaches to the analysis of music, and the kinds of questions they are designed to answer. Analysis is relevant only if it explores the intentional order of a piece of music rather than its acoustical order; this means that theories of analysis are ultimately theories of what is or can be heard, and are best understood as attempting the ‘emendation of the ear’. Vindicates motivic and related forms of musical analysis against the charge that they are indifferent to musical meaning.
The Number of Agents: Entry, Barriers to Entry and Collusion
Authors: Gabszewicz Jean J. 
Published: October 2003

Abstract
Examines how the market solution is affected when the assumption of a large number of buyers and sellers is relaxed. After analysing market contexts involving a very small number of strategic agents (monopoly and duopoly), we consider the consequences of entry on the market solution when entry barriers are absent. Then we extend the analysis to the case when incumbent firms anticipate the entry of potential competitors. Finally, the effects of collusion are analysed at the end of this chapter.
Imperfect Competition and General Equilibrium
Authors: Gabszewicz Jean J. 
Published: October 2003

Abstract
Extends the analysis of strategic competition when competition takes place simultaneously in several markets, as in the exchange process among several goods and several agents. First, the barter mechanism underlying the game‐theoretic concept of core is applied to strategic exchange. Finally, using the same framework of an exchange economy, we illustrate how the notion of Cournot equilibrium can be extended to general equilibrium analysis.
Nature's Capacities and Their Measurement
Authors: Cartwright Nancy 
Published: October 2003

Abstract
This book on the philosophy of science argues for an empiricism, opposed to the tradition of David Hume, in which singular rather than general causal claims are primary; causal laws express facts about singular causes whereas the general causal claims of science are ascriptions of capacities or causal powers, capacities to make things happen. Taking science as measurement, Cartwright argues that capacities are necessary for science and that these can be measured, provided suitable conditions are met. There are case studies from both econometrics and quantum mechanics.