The Aesthetics of Theory Selection and the Logics of Art

Philosophers of science discuss whether theory selection depends on aesthetic judgments or criteria, and whether these putatively aesthetic features are genuinely extra-epistemic. As examples, judgments involving criteria such as simplicity and symmetry are often cited. However, other theory selection criteria, such as fecundity, coherence, internal consistency, and fertility, more closely match those criteria used in art contexts and by scholars working in aesthetics. Paying closer attention to the way these criteria are used in art contexts allows us to understand some evaluative and developmental practices in scientific theory selection as genuinely aesthetic, enlarging the scope of the goals of science

A Two-Stage Realized Volatility Approach to Estimation of Diffusion Processes with Discrete

This paper motivates and introduces a two-stage method of estimating diffusion processes based on discretely sampled observations. In the first stage we make use of the feasible central limit theory for realized volatility, as developed in Jacod (1994) and Barndorff-Nielsen and Shephard (2002), to provide a regression model for estimating the parameters in the diffusion function. In the second stage the in-fill likelihood function is derived by means of the Girsanov theorem and then used to estimate the parameters in the drift function. Consistency and asymptotic distribution theory for these estimates are established in various contexts. The finite sample performance of the proposed method is compared with that of the approximate maximum likelihood method of At-Sahalia (2002).Maximum likelihood, Girsnov theorem, Discrete sampling, Continuous record, realized volatility

A Two-Stage Realized Volatility Approach to the Estimation for Diffusion Processes from Discrete Observations

This paper motivates and introduces a two-stage method for estimating diffusion processes based on discretely sampled observations. In the first stage we make use of the feasible central limit theory for realized volatility, as recently developed in Barndorff-Nielsen and Shephard (2002), to provide a regression model for estimating the parameters in the diffusion function. In the second stage the in-fill likelihood function is derived by means of the Girsanov theorem and then used to estimate the parameters in the drift function. Consistency and asymptotic distribution theory for these estimates are established in various contexts. The finite sample performance of the proposed method is compared with that of the approximate maximum likelihood method of Ait-Sahalia (2002).Maximum likelihood, Girsnov theorem, Discrete sampling, Continuous record, Realized volatility

Supply chain knowledge management: A conceptual framework

The supply chain literature still largely focuses on asset, alphanumeric data and information (in the form of documents and files) elements of exchange between supply chain partners, despite the fact that increased integration and collaboration clearly require development of more complex elements of expertise and knowledge. In this respect, this paper recognizes the knowledge management (KM) literature as a potential source of new insights to add conceptual depth and understanding to managing 21st century supply chains. Specific KM theories and constructs are identified as potentially contributing to theory and practice in supply chain contexts. An overall framework for supply chain knowledge management is developed, along with literature-based definitions of supply chain knowledge transfer, competence and maturity constructs. The "knowledge lens" theory building approach is applied to import these perspectives into supply chain domains, with efforts to maintain conceptual consistency across the two literature streams.Knowledge Management; Supply Chains; Conceptual Framework;

Incremental willingness to pay: a theoretical and empirical exposition

Applications of willingness to pay (WTP) have shown the difficultly to discriminate between various options. This reflects the problem of embedding in both its specific sense, of options being nested within one another, and its more-general sense, whereby respondents cannot discriminate between close substitutes or between more-disparate rivals for the same budget. Furthermore, high proportions of reversals between WTP-value and simple preference based rankings of options are often highlighted. Although an incremental WTP approach was devised to encourage more differentiated answers and a higher degree of consistency among respondents, a theoretical basis for this approach has not been elucidated, and there is little evidence to show that this approach might indeed achieve greater consistency between explicit and implicit rankings inferred from WTP values.We address both these issues. Following our theoretical exposition, standard and incremental approaches were compared with explicit ranking in a study assessing preferences for different French emergency care services. 280 persons, representative of the French adult population, were interviewed. Half received the incremental version, the other half the standard version. Results suggest that the incremental approach provides a ranking of options fully in line with explicit ranking. The standard approach was reasonably consistent with explicit ranking but proved unable to differentiate between the five most preferred providers, as predicted by theory. Our findings suggest that the incremental approach provides results which can be used in priority-setting contexts

Experimental Law and Economics

This chapter provides a framework for assessing the contributions of experiments in Law and Economics. We identify criteria for determining the validity of an experiment and find that these criteria depend upon both the purpose of the experiment and the theory of behavior implicated by the experiment. While all experiments must satisfy the standard experimental desiderata of control, falsifiability of theory, internal consistency, external consistency and replicability, the question of whether an experiment also must be contextually attentive - in the sense of matching the real world choice being studied - depends on the underlying theory of decision-making being tested or implicated by the experiment. We find that the importance of contextual attentiveness depends on whether the experiment tests or implicates a nitary-process theory of decision-making or a multiple-process theory. Unitary-process theories posit that people employ a single operational approach to make decisions across a broad (or universal) domain of activity. Rational Choice Theory is a unitary-process theory. Because unitary-process theories posit that people employ the same decision-making program in all contexts, experimenters can falsify a unitary-process theory using an experimental choice which bears little resemblance to any real-world choice. Faith in a unitary process account also permits legal policymakers to draw broad normative implications from experiments involving quite artificial choices. By contrast, multiple-process theories hold that people employ multiple decision-making programs when they make choices. Moreover, the relative impact of these programs can depend on the context of the decision. This posited interaction between context and decision-making implies that experimentalists seeking to examine legal decision-making must be sensitive to contextual factors likely to affect deliberative and non-conscious programs in the real world. In addition, policymakers must proceed cautiously before using experimental evidence to draw normative policy conclusions because experimental results may not be robust across contexts

Isomorphic Test Of Newton’s Third Law For Investigating Students’ Scientific And Representational Consistency

We have developed a set of isomorphic test for investigating scientific and representational consistency in the context of Newton’s Third Law. The test consisted of 30 multiple-choice items concerning five central force contexts: gravitation, electrostatics, magnetic, pushing, and crashing (impulse force). The test items were designed using various representations (i.e., verbal, diagram/vectorial and graphical). Before we conducted try out, test draft was reviewed by two physics content and evaluation experts for knowing appropriateness of concepts and isomorphic aspect of the test. We provide some evidence for analyses of the test based on the classical test theory. The limitation of the test is presented in this paper. Keywords: isomorphic test, Newton’s third law, scientific consistency, representational consistenc

Situating organizational action: the relational sociology of organizations

This paper advances a relational sociology of organization that seeks to address concerns over how organizational action is understood and situated. The approach outlined here is one which takes ontology seriously and requires transparency and consistency of position. It aims at causal explanation over description and/or prediction and seeks to avoid pure voluntarism or structural determinism in such explanation. We advocate relational analysis that recognizes and engages with connections within and across organization and with wider contexts. We develop this argument by briefly reviewing three promising approaches: relational pragmatism, the social theorizing of Bourdieu and critical realism, highlighting their ontological foundations, some similarities and differences and surfacing some methodological issues. Our purpose is to encourage analysis that explores the connections within and between perspectives and theoretical positions. We conclude that the development of the field of organization theory will benefit from self conscious and reflexive engagement and debate both within and across our various research positions and traditions only if such debates are conducted on the basis of holistic evaluations and interpretations that recognize (and value) difference