The Constitution of Agency

The Constitution of Agency
Author: Christine Marion Korsgaard
Publisher: Oxford University Press, USA
Total Pages: 357
Release: 2014-05-14
Genre: Philosophy
ISBN: 0191564591

Christine M. Korsgaard is one of today's leading moral philosophers: this volume collects ten influential papers by her on practical reason and moral psychology. Korsgaard draws on the work of important figures in the history of philosophy such as Plato, Aristotle, Kant, and Hume, showing how their ideas can inform the solution of contemporary and traditional philosophical problems, such as the foundations of morality and practical reason, the nature of agency, and the role of the emotions in action. In Part 1, The Principles of Practical Reason, Korsgaard defends the view that the principles of practical reason are constitutive principles of action. By governing our actions in accordance with Kant's categorical imperative and the principle of instrumental reason, she argues, we take control of our own movements and so render ourselves active, self-determining beings. She criticizes rival attempts to give a normative foundation to the principles of practical reason, challenges the claims of the principle of maximizing one's own interests to be a rational principle, and argues for some deep continuities between Plato's account of the connection between justice and agency and Kant's account of the connection between autonomy and agency. In Part II, Moral Virtue and Moral Psychology, Korsgaard takes up the question of the role of our more passive or receptive faculties--our emotions and responses --in constituting our agency. She sketches a reading of the Nicomachean Ethics, based on the idea that our emotions can serve as perceptions of good and evil, and argues that this view of the emotions is at the root of the apparent differences between Aristotle and Kant's accounts of morality. She argues that in fact, Aristotle and Kant share a distinctive view about the locus of moral value and the nature of human choice that, among other things, gives them account of what it means to act rationally that is superior to other accounts. In Part III, Other Reflections, Korsgaard takes up question how we come to view one another as moral agents in Hume's philosophy. She examines the possible clash between the agency of the state and that of the individual that led to Kant's paradoxical views about revolution. And finally, she discusses her methodology in an account of what it means to be a constructivist moral philosopher. The essays are united by an introduction in which Korsgaard explains their connections to each other and to her current work.

Three Essays in Financial Markets. The Bright Side of Financial Derivatives: Options Trading and Firm Innovation

Three Essays in Financial Markets. The Bright Side of Financial Derivatives: Options Trading and Firm Innovation
Author: Iván Blanco
Publisher: Ed. Universidad de Cantabria
Total Pages: 90
Release: 2019-02-15
Genre: Business & Economics
ISBN: 8481028770

Do financial derivatives enhance or impede innovation? We aim to answer this question by examining the relationship between equity options markets and standard measures of firm innovation. Our baseline results show that firms with more options trading activity generate more patents and patent citations per dollar of R&D invested. We then investigate how more active options markets affect firms' innovation strategy. Our results suggest that firms with greater trading activity pursue a more creative, diverse and risky innovation strategy. We discuss potential underlying mechanisms and show that options appear to mitigate managerial career concerns that would induce managers to take actions that boost short-term performance measures. Finally, using several econometric specifications that try to account for the potential endogeneity of options trading, we argue that the positive effect of options trading on firm innovation is causal.

Agency Theory, Information, and Incentives

Agency Theory, Information, and Incentives
Author: Günter Bamberg
Publisher: Springer Science & Business Media
Total Pages: 538
Release: 2012-12-06
Genre: Business & Economics
ISBN: 3642750605

Agency Theory is a new branch of economics which focusses on the roles of information and of incentives when individuals cooperate with respect to the utilisation of resources. Basic approaches are coming from microeco nomic theory as well as from risk analysis. Among the broad variety of ap plications are: the many designs of contractual arrangements, organiza tions, and institutions as well as the manifold aspects of the separation of ownership and control so fundamental for business finance. After some twenty years of intensive research in the field of information economics it might be timely to present the most basic issues, questions, models, and applications. This volume Agency Theory, Information, and Incentives offers introductory surveys as well as results of individual rese arch that seem to shape that field of information economics appropriately. Some 30 authors were invited to present their subjects in such a way that students could easily become acquainted with the main ideas of informa tion economics. So the aim of Agency Theory, Information, and Incentives is to introduce students at an intermediate level and to accompany their work in classes on microeconomics, information economics, organization, management theory, and business finance. The topics selected form the eight sections of the book: 1. Agency Theory and Risk Sharing 2. Information and Incentives 3. Capital Markets and Moral Hazard 4. Financial Contracting and Dividends 5. External Accounting and Auditing 6. Coordination in Groups 7. Property Rights and Fairness 8. Agency Costs.

The Ego and the ID

The Ego and the ID
Author: Sigmund Freud
Publisher: E-Kitap Projesi & Cheapest Books
Total Pages: 93
Release: 2024-11-08
Genre: Psychology
ISBN: 6057566793

In his later work, Freud proposed that the human psyche could be divided into three parts: Id, ego and super-ego. Freud discussed this model in the 1920 essay Beyond the Pleasure Principle, and fully elaborated upon it in The Ego and the Id (1923), in which he developed it as an alternative to his previous topographic schema (i.e., conscious, unconscious and preconscious). The id is the completely unconscious, impulsive, childlike portion of the psyche that operates on the "pleasure principle" and is the source of basic impulses and drives; it seeks immediate pleasure and gratification. Freud acknowledged that his use of the term Id (das Es, "the It") derives from the writings of Georg Groddeck. The super-ego is the moral component of the psyche, which takes into account no special circumstances in which the morally right thing may not be right for a given situation. The rational ego attempts to exact a balance between the impractical hedonism of the id and the equally impractical moralism of the super-ego; it is the part of the psyche that is usually reflected most directly in a person's actions. When overburdened or threatened by its tasks, it may employ defense mechanisms including denial repression, undoing, rationalization, repression, and displacement. This concept is usually represented by the "Iceberg Model". This model represents the roles the Id, Ego, and Super Ego play in relation to conscious and unconscious thought. Freud compared the relationship between the ego and the id to that between a charioteer and his horses: the horses provide the energy and drive, while the charioteer provides direction.