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How Should We Regulate Derivatives Markets?

Provides an overview of derivatives markets and the role they played in the 2008 financial crisis. Evaluates policy proposals to reduce systemic risk and increase market efficiency, including centralized clearing and improved price transparency

Constructing Futures: Outlining a Transhumanist Vision of the Future and the Challenge to Christian Theology of its Proposed Uses of New and Future Developments in Technology

Transhumanists arc committed to re-evaluating the entire human condition and offering proposalsfor transcending mortality, principally by augmenting the human body with mechanical components or by transferring the human mind into intelligent hyper-computers. In this essay, the author\'s methodology is to critique the culture oftranshumanism, arguing, with Barbour, that all technology is tool whose use is determined by the cultural and socialframeworks within which it is utilized. Transhumanism is characterized as morally ambiguous, extremely individualistic, fixated upon health, vitality, and power, ideological, reductionist, and self-deluded. Its proposed use of technology is, thus, highly suspect and deserves a robust theological response

Beyond Kuhn: Methodological Contextualism and Partial Paradigms

Kuhn’s view of science is as follows. Science involves two key phases: normal and extraordinary. In normal science, disciplinary matrices (DMs) are large and pervasive. DMs involve “beliefs, values, techniques, and so on shared by the members of a given community” (Kuhn 1996, 175). “And so on” is regrettably vague, but Kuhn (1977, 1996) mentions three other key elements: symbolic generalizations (such as F=dp/dt), models (such as Bohr’s atomic model), and exemplars. These components of DMs overlap somewhat. For instance, symbolic generalizations may feature in techniques and beliefs, and models may exhibit values. To be a (genuine) scientist, in the normal science phase, is to puzzle solve within the boundaries of the DM. It is to buy into the ruling dogma (Kuhn 1963) and to accept that “failure to achieve a solution discredits only the scientist ... ‘It is a poor carpenter who blames his tools’” (Kuhn 1996, 80). Puzzle solving involves a wide variety of activities, includin

Fatigue damage mapping

Observations of fatigue crack nucleation and early growth are presented. The state of stress/strain was shown to play a significant role in this process. Early growth occurs on planes experiencing the largest range of shear strain (Mode 2) or normal strain (Mode 1) depending on the stress state, strain amplitude, and microstructure. These observations were summarized in a fatigue map for each material. These maps provide regions where one fatigue failure mode dominates the behavior. Each failure mechanism results in a different failure mode. Once the expected failure mode is identified, bulk deformation models based on the cyclic stresses and strains can be used to obtain reliable estimates of fatigue lives for complex loading situations

Existence of independent random matching

This paper shows the existence of independent random matching of a large (continuum) population in both static and dynamic systems, which has been popular in the economics and genetics literatures. We construct a joint agent-probability space, and randomized mutation, partial matching and match-induced type-changing functions that satisfy appropriate independence conditions. The proofs are achieved via nonstandard analysis. The proof for the dynamic setting relies on a new Fubini-type theorem for an infinite product of Loeb transition probabilities, based on which a continuum of independent Markov chains is derived from random mutation, random partial matching and random type changing.Comment: Published at http://dx.doi.org/10.1214/105051606000000673 in the Annals of Applied Probability (http://www.imstat.org/aap/) by the Institute of Mathematical Statistics (http://www.imstat.org