scholarly journals Ex ante efficiency of structured bargaining procedures under coordination failure among creditors

2012 ◽  
Vol 9 (3) ◽  
pp. 394-406
Author(s):  
Kenta Toyofuku
Keyword(s):  
Moral Hazard ◽  
The Other ◽  
Priority Rule ◽  
Coordination Failure ◽  
Noisy Signal ◽  
Coordination Problem ◽  
Absolute Priority ◽  
Other Hand ◽  
Ex Ante ◽  
The Absolute

We analyze the ex-ante efficiency of structured bargaining procedures, especially the absolute priority rule (APR) violations and the revocation of preferential payments (PP). We show that when creditors receive clear signals about firms, the debtor is more likely to choose a risky action if APR violations are adopted. On the other hand, when a noisy signal is transmitted to creditors, a high liquidation value may induce coordination failure among creditors. Because this also induces moral hazard on the part of the debtor, adopting APR violations may be a useful way of improving ex ante efficiency. Finally, if there is complementarity between a firm’s assets, the revocation of PP can mitigate the coordination problem and thus increase ex ante efficiency.

Moderne Ikonen

2009 ◽  
Vol 54 (2) ◽  
pp. 123-143
Author(s):  
Bernadette Collenberg-Plotnikov
Keyword(s):  
Mass Culture ◽  
Visual Experience ◽  
Modern Art ◽  
The Other ◽  
Recent Discussion ◽  
Christian Church ◽  
Other Hand ◽  
The Absolute ◽  
Modern Mass

›Ikonen‹ sind heute nicht mehr nur die Ikonen der christlichen Kirche, sondern vor allem die Ikonen der modernen Massenkultur. Beide Arten von Ikonen werden in der neueren Kunstreflexion aufgegriffen: Kunst gilt entweder, verstanden als Erbin der religiösen Ikone, als Phänomen, das Absolutes in singulärer Weise anschaulich er- fahrbar macht. Oder aber die Kunst gilt umgekehrt lediglich als Klasse in der Welt der säkularen Ikonen. Demgegenüber wird im Beitrag erstens die These vertretenwerden, daß die neuere Kunst sowohl Aspekte transzendenter als auch immanenter Ikonen umfaßt. Zugleich ist es aber, so die zweite These, für unser Kunstverständnis charakteristisch, ein theoretisches Kontrastverhältnis zwischen Kunst und Ikone an- zunehmen. Dieses gründet auf einer spezifischen Reflexivität der Kunst, durch die sie sich von der Ikone beiderlei Art kategorial unterscheidet. Today, the word ›icon‹ usually no longer refers to the icons of the Christian church, but to the icons of the modern mass-culture. Both sorts of icons play a key-role in the recent discussion about art: Either art is supposed to be a descendant of the religious icon, a phenomenon that gives us a singular visual experience of the Absolute. On the other hand, art is supposed to be just one class among others in the wide world of the secular icons. In contrast to these two positions this essay contends that modern art comprehends aspects of transcendent as well as of immanent icons. Furthermore, it argues that at the same time it is characteristic for our notion of art to suppose a contrast between art and icon. This contrast is based on a specific reflectivity of art, which marks a categorical difference between art and both sorts of icons.

scholarly journals Nietzsche’s Dionysos

2017 ◽  
Vol 3 (3) ◽  
pp. 604
Author(s):  
Dieter Mersch
Keyword(s):  
Necessary Conditions ◽  
Central Point ◽  
The Other ◽  
Other Hand ◽  
The Absolute ◽  
The Aesthetic

Nietzsche’s Dionysus, admittedly, represents a direct provocation and an attack on the classical interpretation accepted since Winckelmann, an interpretation that elevates the Apollonian to its central point of focus; Nietzsche’s introduction of another principle to oppose it, rather than representing a genuine invention, in actuality bridges the small gap between Hegel and Hölderlin. If, namely, the Hegelian aesthetic from the very beginning points to Schein and Erscheinung – as necessary conditions of truth, for the truth would not exist if it were not to “superficially appear” (scheinen) and “make its appearance” (erscheinen), writes Hegel – Schein and Erscheinung would still nonetheless be bound up everywhere with the criterium of the absolute; after all, the untruth of the aesthetic rests squarely in the fact that it cannot do other than to draw upon the language of Erscheinung. For Hölderlin, on the other hand, the Dionysian advances to become a metapoetic symbol combining itself – the enigmatic and continually transforming – with the practice of art. Nietzsche follows those very same lines even while giving the metaphor a thoroughly different twist.

scholarly journals Critique of the radical religious paradigm: An epistemological analysis from the principles of Islamic jurisprudence

2021 ◽  
Vol 11 (1) ◽  
pp. 163-184
Author(s):  
Ade Dedi Rohayana ◽  
Muhammad Jauhari Sofi
Keyword(s):  
The Other ◽  
Public Security ◽  
Personal Safety ◽  
Literal Interpretation ◽  
Other Hand ◽  
Global Issue ◽  
Islamic Jurisprudence ◽  
The Absolute ◽  
Epistemological Analysis ◽  
Religious Understanding

One important factor enabling Islamophobia, radicalism has been a global issue endangering personal safety and public security. It is strongly associated with incorrect understanding of religious doctrines. This paper aims to present a critique of the religious paradigm promoted by the radical groups from the principles of Islamic jurisprudence (ushul fiqh) perspective. Using an epistemological analysis to uncover the nature of their religious understanding and its justification, this study argues that the radical religious paradigm is characterized by a monolithic, textual, and rigid interpretation of the sacred texts. According to the radical groups, the sources of Islamic laws or teachings are restricted to only the Qur’an and the hadith, leaving no space for alternative interpretations. They do not give place for ra’yu (reason) in determining the laws or teachings. On the other hand, ushul fiqh perspective maintains that the sources of the Islamic laws or teachings are not restricted to only the two said sources; it also gives place for ra’yu (reason). The sources can also be found in the form of isyarah (signaling) and ruh (spirit) of the Qur’an and the hadith. In this sense, ushul fiqh refuses the literal interpretation proposed by the radical groups since not all of the texts in the Qur’an and the hadith can be understood literally. Taken together, these findings strengthen the idea that incorrect understanding of religious doctrines helps lead to the absolute, puritanical, and intolerant stance towards differences.

scholarly journals Liquid CO2 Extraction of Jasminum grandiflorum and Comparison with Conventional Processes

2012 ◽  
Vol 7 (1) ◽  
pp. 1934578X1200700
Author(s):  
Om Prakash ◽  
Deeptanjali Sahoo ◽  
Prasant Kumar Rout
Keyword(s):  
Essential Oil ◽  
Free Product ◽  
Polar Compounds ◽  
The Other ◽  
Benzyl Acetate ◽  
Methyl Anthranilate ◽  
Direct Extraction ◽  
Other Hand ◽  
Liquid Co2 ◽  
The Absolute

The concrete (0.35%) of Jasminum grandiflorum L. flowers was prepared by extraction in n-pentane, and the absolute (0.27%) by fractionation of the n-pentane extract (concrete) with cold methanol. Direct extraction of flowers with liquid CO2 gave a relatively fat-free product in 0.26% yield. The liquid CO2 extract was enriched with terpenoids and benzenoids, thus providing the organoleptically accepted product. The major compounds, such as benzyl acetate, ( E,E)-α-farnesene and ( Z)-3-hexenyl benzoate, along with compounds like indole, methyl anthranilate, ( Z)-jasmone, ( Z)-methyl jasmonoate and ( Z)-methyl epi-jasmonoate, are responsible for the high diffusivity of the jasmine fragrance. These compounds have been obtained with improved recoveries in the liquid CO2 extract. On the other hand, the yield of the essential oil was poor (0.05%), and some polar compounds (oxygenated terpenoids) were recovered in less amounts in comparison with either the n-pentane or liquid CO2 extract.

The reinstatement of Latace Phil. (Amaryllidaceae, Allioideae)

Phytotaxa ◽  
2015 ◽  
Vol 239 (3) ◽  
pp. 253 ◽  
Author(s):  
Agostina Belen Sassone ◽  
Manuel J. Belgrano ◽  
Encarnación Rosa Guaglianone
Keyword(s):  
Morphological Features ◽  
The Other ◽  
Similar Species ◽  
New Combinations ◽  
Monotypic Genus ◽  
Priority Rule ◽  
Distribution Map ◽  
Other Hand ◽  
Independent Unit

The monotypic genus Latace has been formerly treated under its related genera Leucocoryne or Nothoscordum. The genus Zoellnerallium, on the other hand, was established to include the atypical Nothoscordum andinum (= Ornithogalum andinum) and, later another similar species, namely Nothoscordum serenense, was also placed in this genus. In this contribution we corroborate that Latace and Zoellnerallium are names applied to the same taxon, and different from Nothoscordum and Leucocoryne. According to the priority rule, Latace is the name to be used instead of Zoellnerallium. Consequently, the name Latace is reinstated, while Zoellnerallium is relegated to the synonymy, and three new combinations are proposed: Latace andina f. andina, Latace andina f. lutea and Latace serenense. In addition, the chromosome identity of Latace (= Zoellnerallium) and morphological features that support Latace as an independent unit are herein highlighted, and presented together with keys to related genera and to species of Latace; lectotypes, neotypes, a distribution map, and illustrations are also included.

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