We develop a version of the fundamental theorem of asset pricing for discrete-time markets with proportional transaction costs and model uncertainty. A robust notion of no-arbitrage of the second kind is defined and shown to be equivalent to the existence of a collection of strictly consistent price systems.

The problem of consciousness is one of the most important problems in science as well as in philosophy. There are different philosophers and different scientists who define it and explain it differently. As far as our knowledge of consciousness is concerned, ‘consciousness’ does not admit of a definition in terms of genus and differentia or necessary and sufficient condition. In this paper I sh...

What is the relation between consciousness and self-consciousness? In recent philosophy of mind, we are accustomed to underlining their independence. It is often emphasized that a person can be conscious of a host of objects, features, and states of affairs unrelated to her. When a person is conscious of the sky, or consciously experiences the blueness of the sky, she is not attending to hersel...

An interactive process model of the nature of representation intrinsically accounts for multiple emergent properties of consciousness, such as being a contentful experiential flow, from a situated and embodied point of view. A crucial characteristic of this model is that content is an internally related property of interactive process, rather than an externally related property as in all other ...

In this note we show that the results developed in Singh and Vives (1984) are sensitive to the duopoly assumption (Rand Journal of Economics 15, 546-554). If there are more than two firms, prices may be higher under price competition than under quantity competition. This will be the case if quality differences are large and goods are complements. If goods are substitutes, high-quality firms may...