Ethics, Finance, and Automation: A Preliminary Survey of Problems in High Frequency Trading

All of finance is now automated, most notably high frequency trading. This paper examines the ethical implications of this fact. As automation is an interdisciplinary endeavor, we argue that the interfaces between the respective disciplines can lead to conflicting ethical perspectives; we also argue that existing disciplinary standards do not pay enough attention to the ethical problems automation generates. Conflicting perspectives undermine the protection those who rely on trading should have. Ethics in finance can be expanded to include organizational and industry-wide responsibilities to external market participants and society. As a starting point, quality management techniques can provide a foundation for a new cross-disciplinary ethical standard in the age of automation.     

Adjusting to life in retirement: the protective role of new group memberships and identification as a retiree

ABSTRACT

Among the many factors that influence retirement adjustment, there is increasing recognition of the role played by people’s social relationships. In particular, research points to the benefits that joining new groups can have for people’s well-being when they experience life change. In three studies, we extend this research to assess the contribution that new groups and identities make to supporting the well-being and adjustment of people transitioning to retirement. Study 1, involving 302 retirees, demonstrates that joining new groups in retirement and developing a stronger sense of identification with retirees predicts life satisfaction after controlling for known predictors (e.g., financial planning, marital status, physical health status, retirement aspirations), while only retiree identification predicts adjustment. We then examine the extent to which multiple group memberships support retirement adjustment and well-being through the mediating role of new group memberships and retiree identification. This is first examined in a cross-sectional study of 90 retired academics (Study 2) and then in a two-wave study involving a general sample of 121 recent retirees (Study 3). Findings from both studies point to the importance of social group and identity gain in retirement adjustment and highlight the particular importance of retiree identification in the transition.     

Asymmetries in Benefiting, Harming and Creating

It is often said that while we have a strong reason not to create someone who will be badly off, we have no strong reason for creating someone who will be well off. In this paper I argue that this asymmetry is incompatible with a plausible principle of independence of irrelevant alternatives, and that a more general asymmetry between harming and benefiting is difficult to defend. I then argue that, contrary to what many have claimed, it is possible to harm or benefit someone by bringing her into existence.     

I am not now,nor have I ever been,a turnip.

This paper considers how to put together two popular ideas in the philosophy of time: detenserism (the view that tense can be analysed in token-reflexive terms) and perdurantism (the view that objects persist through time by having temporal parts. On the most obvious way of doing this, certain problems arise. I argue that to deal with these problems we need a tool that is unfamiliar to most detensers and perdurantists—the distinction between sortal and non-sortal predicates.     

Trash talk in a competitive setting: Impact on self‐efficacy and affect

The effects of trash talk and competition outcome on self‐efficacy and affect were examined in 40 Madden? NFL 08 football video game players randomly assigned to two conditions: silence talk, where they played the first game in complete silence; and the second trash talking. Measures of self‐efficacy, positive affect (PA), and negative affect (NA) were administered. Results revealed that players enforced to be silent in the first game instantaneously exhibited lower self‐efficacy, lower PA, and higher NA than players permitted to talk in Game 1. However, players subsequently instructed to remain silent in the second game showed markedly decreased self‐efficacy compared to players permitted to talk in Game 2. Results are interpreted in light of the social‐cognitive‐motivational theory.     

Elevated self‐esteem 12 months following a 10‐day developmental voyage

The following article examined elevated self‐esteem as a function of a 10‐day developmental voyage. Two studies were conducted. Study 1 demonstrated that participants who completed the voyage experienced elevated self‐esteem. Study 2 replicated and extended these results insofar as it revealed that (a) elevated self‐esteem was maintained 12 months following the voyage; and (b) increasing levels of perceived self‐efficacy and belonging (as assessed on the last day of the voyage), but not social support, each made a unique contribution to these effects. Together, these findings provide converging evidence to suggest that a 10‐day developmental voyage upon the Spirit of New Zealand promotes elevated self‐esteem that is maintained over time, and that perceived self‐efficacy and belonging contribute to this outcome.     

Broad Consent for Research With Biological Samples: Workshop Conclusions

Different types of consent are used to obtain human biospecimens for future research. This variation has resulted in confusion regarding what research is permitted, inadvertent constraints on future research, and research proceeding without consent. The National Institutes of Health (NIH) Clinical Center's Department of Bioethics held a workshop to consider the ethical acceptability of addressing these concerns by using broad consent for future research on stored biospecimens. Multiple bioethics scholars, who have written on these issues, discussed the reasons for consent, the range of consent strategies, and gaps in our understanding, and concluded with a proposal for broad initial consent coupled with oversight and, when feasible, ongoing provision of information to donors. This article describes areas of agreement and areas that need more research and dialogue. Given recent proposed changes to the Common Rule, and new guidance regarding storing and sharing data and samples, this is an important and timely topic.     

Reward speeds up and increases consistency of visual selective attention: a lifespan comparison

Children and older adults often show less favorable reward-based learning and decision making, relative to younger adults. It is unknown, however, whether reward-based processes that influence relatively early perceptual and attentional processes show similar lifespan differences. In this study, we investigated whether stimulus–reward associations affect selective visual attention differently across the human lifespan. Children, adolescents, younger adults, and older adults performed a visual search task in which the target colors were associated with either high or low monetary rewards. We discovered that high reward value speeded up response times across all four age groups, indicating that reward modulates attentional selection across the lifespan. This speed-up in response time was largest in younger adults, relative to the other three age groups. Furthermore, only younger adults benefited from high reward value in increasing response consistency (i.e., reduction of trial-by-trial reaction time variability). Our findings suggest that reward-based modulations of relatively early and implicit perceptual and attentional processes are operative across the lifespan, and the effects appear to be greater in adulthood. The age-specific effect of reward on reducing intraindividual response variability in younger adults likely reflects mechanisms underlying the development and aging of reward processing, such as lifespan age differences in the efficacy of dopaminergic modulation. Overall, the present results indicate that reward shapes visual perception across different age groups by biasing attention to motivationally salient events.