Care, Death, and Time in Heidegger and Frankfurt

Both Martin Heidegger and Harry Frankfurt have argued that the fundamental feature of human identity is care. Both contend that caring is bound up with the fact that we are finite beings related to our own impending death, and both argue that caring has a distinctive, circular and non-instantaneous, temporal structure. In this paper, I explore the way Heidegger and Frankfurt each understand the relations among care, death, and time, and I argue for the superiority of Heideggerian version of this nest of claims. Frankfurt claims that we should conceive of the most basic commitments which practically orient a person in the world and define his identity (“volitional necessities”) as naturalistic facts, foundational for and located completely without the normative space of reasons. In support of this he appeals to the supposedly foundational role played in human life by the instinct for self-preservation, what Frankfurt calls the “love of living.” The claim is that in questions of practical identity there is a definite priority of the factual over the normative. Frankfurt’s naturalistic model of volitional necessity is motivated by a misunderstanding of the temporal structure of care, a misunderstanding that helps lead him to an implausible conception of the basic structures of human identity. Heidegger advances an anti-naturalistic conception of caring, one bound up with his way of understanding how human beings relate to their own future. I argue that the existential, temporal, and normative significance that Frankfurt attributes to the naturalized “love of living” is better captured by the Heideggerian claim that human identity is defined by being “for-the-sake-of” certain projects and commitments, a way of being lived out in the way Heidegger calls “being-towards-death.

On the bias of yield-based capital budgeting methods

The aim of this paper is twofold. First, we present a new capital budgeting method, called the real rate of return (RRR), which has been developed for solving the inconsistency of the modified internal rate of return (MIRR) with shareholders' wealth maximization when costs of capital differ between projects. After surveying the merits of this method over the MIRR, we focus our attention on another interesting feature of the RRR when cash flows are uncertain. We compare the RRR bias with the MIRR bias and demonstrate that the RRR bias is inferior to the MIRR bias. This theoretical finding confirms once again that the RRR is a better capital budgeting method than the MIRR. Knowing that managers exhibit in practice a large preference for comparing the merits of projects with rates of return, this simple and flexible yield-based capital budgeting method has all the qualities to be accepted in practice.

Ecological Finitude as Ontological Finitude: Radical Hope in the Anthropocene

The proposal that the earth has entered a new epoch called “the Anthropocene” has touched a nerve . One unsettling part of having our ecological finitude thrust upon us with the term “Anthropocene” is that, as Nietzsche said of the death of God, we ourselves are supposed to be the collective doer responsible here, yet this is a deed which no one individual meant to do and whose implications no one fully comprehends. For the pessimists about humanity, the implications seem rather straightforward: humanity will die. Yet, as we will explore in this paper, the death that we may be facing cannot be assumed to be simply biological death or extinction. Indeed, even if we are not running headlong into a mass extinction and biological demise, we do seem to be facing an ontological death. Our ecological finitude is the harbinger of our ontological finitude. The vulnerability we confront in the Anthropocene is what Jonathan Lear, in a different context, called ontological vulnerability. Worlds die too; the ways of life they sustain can become impossible, ceasing to make sense and matter. The constitutive susceptibility of all human worlds to their eventual collapse is what we mean by ontological finitude. This is what we face as presumed denizens in a dawning Anthropocene

Ichneumonid wasps from Madagascar. VI. The genus Pristomerus (Hymenoptera: Ichneumonidae: Cremastinae)

Pristomerus species of Madagascar are revised. We report 15 species, of which 12 are newly described: P. guinness sp. nov., P. hansoni sp. nov., P. kelikely sp. nov., P. keyka sp. nov., P. moramora sp. nov., P. melissa sp. nov., P. patator sp. nov., P. ranomafana sp. nov., P. roberti sp. nov., P. vahaza sp. nov., P. veloma sp. nov. and P. yago sp. nov. Pristomerus albescens (Morley) and P. cunctator Tosquinet are newly recorded from Madagascar and new host and/or distribution records are provided for this species. A dichotomous key to all species is provided. The zoogeographical relation of the Malagasy fauna of Pristomerus with respect to mainland Africa is discussed: only three of the 15 species are reported to occur outside of Madagascar, suggesting a high level of endemism in Madagascar which was not unexpected

Banking behavior under uncertainty: Evidence from the US Sulfur Dioxide Emissions Allowance Trading Program

The aim of this paper is to examine portfolio management of emission allowances in the US Sulfur Dioxide Emissions Allowance Trading Program, to determine whether utilities have a real motive to bank when risk increases. We test a theoretical model linking the motivation of the firm to accumulate permits in order to prepare itself to face a risky situation in the future. Empirical estimation using data for years 2001 to 2004 provides evidence of a relationship between banking behavior and uncertainty the utility is facing with.Emissions Trading, Permits Banking, Acid Rain Program Uncertainty, Risk Aversion, Prudence.

Should the regulator allow citizens to participate in tradable permits markets?

Since the seminal paper written by Weitzman (1974), the “prices vs. quantities” debate regarding choice of policy instrument under imperfect information and uncertainty has been an ongoing concern for economists, especially in the field of the environment. In this debate, several papers have recommended that the regulator allow pollution victims (citizens) to participate in tradable permits markets. According to this literature, when pollution victims purchase and withhold (i.e. destroy) emission rights from polluting firms, this means that the overall quota is not efficient and that welfare gains will be realised. In this paper, we present further theoretical results showing that citizen participation in tradable quotas markets may become welfare decreasing. Indeed, citizens can aggravate the first error made by the regulator if they are also under uncertainty about the marginal benefit curve or if they exhibit strong enough risk aversion. Therefore, we recommend that the regulator limit citizen participation to a certain percentage of permits. In doing so, we extend the “prices versus quantities” debate to simultaneous uncertainty and risk aversion by showing that a marketable permits system offers the regulator an opportunity to control the negative effects of agents’ (citizens’ and firms’) risk aversion on welfare.citizens’ participation, prices vs. quantities, risk aversion

Trade performances, product quality perceptions and the estimation of trade price-elasticities

Traditional trade models ignoring the dimension of product quality generally lead to excessively low trade price elasticities. In this paper, we show that higher estimated trade price elasticities, more in conformity with theory, can be obtained by controlling product quality in trade equations. To do so, we have estimated trade equations including a product quality proxy derived from survey data. Our estimation results, based on panel data for the four main EU member States, confirm the part played by product quality in the estimation of trade price elasticities, at least for traditionally highly differentiated products.Trade performances ; trade equations ; trade price elasticities ; imperfect competition ;product differentiation ; quality ; unit value indices

What can we learn about correlations from multinomial probit estimates?

It is well known that, in a multinomial probit, only the covariance matrix of the location and scale normalized utilities are identified. In this note, we explore the relation between these identifiable parameters and the original elements of the covariance matrix, to find out what can be learnt about the correlations between the stochastic components of the non-normalized utilities.

Mott transition in Cr-doped V2O3 studied by ultrafast reflectivity: electron correlation effects on the transient response

The ultrafast response of the prototype Mott-Hubbard system (V1-xCrx)2O3 was systematically studied with fs pump-probe reflectivity, allowing us to clearly identify the effects of the metal-insulator transition on the transient response. The isostructural nature of the phase transition in this material made it possible to follow across the phase diagram the behaviour of the detected coherent acoustic wave, whose average value and lifetime depend on the thermodynamic phase and on the correlated electron density of states. It is also shown how coherent lattice oscillations can play an important role in some changes affecting the ultrafast electronic peak relaxation at the phase transition, changes which should not be mistakenly attributed to genuine electronic effects. These results clearly show that a thorough understanding of the ultrafast response of the material over several tenths of ps is necessary to correctly interpret its sub-ps excitation and relaxation regime, and appear to be of general interest also for other strongly correlated materials.Comment: 6 pages, 3 figures. Europhysics Letters (in press