Regulating Complacency: Human Limitations and Legal Efficacy

This Article examines how insights into limited human rationality can improve financial regulation. The Article identifies four categories of limitations—herd behavior, cognitive biases, overreliance on heuristics, and a proclivity to panic—that undermine the perfect-market regulatory assumptions that parties have full information and will act in their rational self-interest. The Article then analyzes how insights into these limitations can be used to correct resulting market failures. Requiring more robust disclosure and due diligence, for example, can help to reduce reliance on misleading information cascades that motivate herd behavior. Debiasing through law, such as requiring more specific, poignant, and concrete disclosure of risks and their consequences, can help to correct cognitive biases. Requiring firms to engage in more self-aware operational risk management and reporting can reduce the likelihood that parties will over-rely on heuristics. And legislating backstop market liquidity and other stabilizing controls can help to minimize panics. Regulation, however, can only partly overcome these limitations. Effective financial regulation should therefore be designed not only to address these limitations but also to try to mitigate the harm of inevitable financial failures

Conzilla — A Conceptual Interface to the Semantic Web

Abstract. This paper has two foci that are intended to be complementary. First, it describes Conzilla as an incarnation of a concept browser. More specifically, as a technical solution for expressing context-maps, concepts, concept relations etc. Second, it introduces Conzilla as a fairly complete RDF editor which combines graph- and form-based manipulation of RDF-graphs. Apart from these foci, the main requirements for the Conzilla design is: It should serve as a collaboration tool for more or less formalized modeling techniques, most notably UML-dialects. It should simplify the task of creating information according to various metadata standards. It should support customized presentations of existing information without requiring duplication or modification of information sources. These requirements are fullfilled by choosing a three layered approach for working with semantic web information in Conzilla, i.e. the information, presentation and style layers.

A European research agenda for lifelong learning

It is a generally accepted truth that without a proper educational system no country will prosper, nor will its inhabitants. With the arrival of the post-industrial society, in Europe and elsewhere, it has become increasingly clear that people should continue learning over their entire life-spans lest they or their society suffer the dire consequences. But what does this future lifelong learning society exactly look like? And how then should education prepare for it? What should people learn and how should they do so? How can we afford to pay for all this, what are the socio-economic constraints of the move towards a lifelong-learning society? And, of course, what role can and should the educational establishment of schools and universities play? This are questions that demand serious research efforts, which is what this paper argues for

The Knowledge Manifold - an Educational Architecture that supports Inquiry-Based Customizable Forms of E-Learning

of e-learnin

CyberMath: A Shared Virtual Environment for Mathematics Exploration

We present Cy48SP563 an avatar-based shared virtual environment aimed at improving the current problematic situation in mathematics education.Cyucatio allows mathematics to be presented in a new and exciting way and is suitable for exploring and teaching mathematics in situations both where teacher and students are co-present and phy83(SP5 separated. Cyrated. also supports a variety of teaching sty les, ranging from traditional oneto -many lectures to teacher-supported interaction and individual off-line exploration. We also summarize the results of two initialusability studies of our sy906