Concept and Evaluation of Ecosystem Intrinsic Value

Ecosystem valuation can serve as a basis of scientific support for decision-making. So far, the most popular methods for ecosystem valuation are ecosystem service valuation （ESV）, which is based on the utility of ecosystem to human beings rather than on the objective value of the ecosystem. After more than 10 years＇ application, it has been found that all losses of ESV were about 10% of the benefits of human activities. In this paper, the ecosystem intrinsic value （EIV） is defined. EIV is an objective value that emerges from the existence, structures, functions and processes of ecosystem, but independent with man, man＇s will and preferences. The valuating approach and methods used for EIV were developed by using energy approach and the methods of emergy analysis and eco-exergy analysis. The EIV calculated by emergy from the substance, energy and information of ecosystem and by eco-exergy from the structure and function of ecosystem represents the existent value and the externally working capacity of ecosystem, respectively. The approach and methods of EIV evaluation were applied to Xiamen Bay, China. The results showed that the marine EIV in Xiamen Bay was 209 billion RMB, including 116 billion RMB of emergy and 92.4 billion RMB of eco-exergy in 2010, nearly 30 times of ESV and 8.5 times of the GDP of Xiamen marine industry in 2010. The EIV in unit area of Xiarnen Bay is more than 10 times higher than the average global ESV in estuaries. It implied a potential undervaluation to ecosystem value by ESV calculation, which may mislead decisions-making processes.

EVA based model to estimate the Chinese listed company’s intrinsic value

This article is based on traditionally intrinsic value assessment model. We employed the assumption on the differences in future increase rates of companies, taking into account of the expected Economic Value Added (EVA) discount and the capital investment, to establish a high increase model, a two-stage EVA discount model and a three-stage EVA discount model for the intrinsic value assessment. Those models eliminate the great fluctuation of free cash flow in calculating the capital expenditure by setting aside the cash flow of the company’s investment in the year and considering only the capital cost. This method needs only to assess the EVA flow in different year in probing the intrinsic value of a company, thus give more consistent conclusion than conventional methods.

Intrinsic Value of the Natural Environment： An Ethical Roadmap to Protect the Environment

The environment in the sense of all the ecosystems on Earth, has been polluted, harmed, and put at risk of degradation to some extent. Nevertheless, the mainstream ethical philosophies have found it difficult to assign an intrinsic value to the environment itself, and most environmental ethics is based on an ＂enlightened＂ anthropocentrism which values environmental protection for the sake of other humans including the future generations. Philosophically speaking, the concept of moral obligations towards generations, who have not been born yet, can be challenged. This vicious circle is a fundamental issue for ＂environmental ethics.＂ The current paper is an attempt to help correct this broken cycle of arguments using three lines of argument： （1） The harmful impact of human activity on the environment does not benefit all humans; the question is not over the selfishness and short-sightedness of humankind regarding the environment as much as it is regarding ＂environmental＂ justice among humans. The pursuit of self-interest and wealth by some humans, but not all, should not lead philosophers to ignore the insufficiencies of our economic and capitalist systems in the delineation of morally correct human-environment interaction. The right to a livable environment is a universal human right and morality has to support it. （2） The moral obligation of humankind toward the environment is similar to any situation where a party, such as a child, does not have the ability to protect itself or defend its rights; this is the principle of ＂due care.＂ Humans have the knowledge to understand the complexity of ecosystem interrelationships and the harm which industrial activity has caused. Therefore they have a moral obligation to exercise due care to prevent it from being harmed irreversibly. （3） The third argument is concerned with human morality and the spirituality of the environment. It can be argued that the natural instinct of the love of the environment, biophilia, is not a cause but a symptom of the grand spiritual value in the environment, even though this spiritual value may not be confined to humans, but be accrued to all life forms that have and/or show a genuine interest in the environment.

Can the West Save the East？ Intrinsic Value and the Foundation of Chinese Environmental Ethics

Intrinsic value in nature is a key concept in professional environmental ethics literature in the West. Western scholars such as Holmes Rolston III and Paul Taylor argue that the philosophical foundation of environmental ethics should be based on the concept of intrinsic value in nature. Influenced by this concept, some influential Chinese environmental ethics scholars such as Yu Mouchang and Lu Feng argue that the foundation of environmental ethics in China should be based on the concept of intrinsic value in nature. This paper holds that the metaphysical, epistemological and ethical meaning of intrinsic value in nature is the legacy of Western philosophical traditions, which is in conflict with the Chinese philosophical traditions. Meanwile, the paper argues that the Daoist conception of living in harmony with nature can become the foundation for Chinese environmental ethics. The Daoist conception of living in harmony with nature is based on aesthetic appreciation of nature and people＇s participation in the beauty of nature.

On The Supposed Importance of Intrinsic Value in Animal and Environmental Ethics

The idea of intrinsic value is pervasive in environmental ethics and animal ethics.In fact,the view that certain non-human animals and the environment have intrinsic value is the basis of many ethicists’claim that we are morally obligated to treat these non-human animals and the environment well.In this paper,I argue that these ethicists often conflate intrinsic and final value.If something is finally valuable,then it is valuable for its own sake or in its own right either in virtue of its internal or external properties.To be intrinsically valuable is just to be finally valuable in virtue of one’s internal or intrinsic properties.Given this understanding of intrinsic value,many animal and environmental ethicists end up committing themselves to the view that the source of the moral status of certain non-human animals and the environment is some set of their respective internal or intrinsic properties.However,I argue that the value that they are often concerned with is based on non-human animals’and the environment’s external or extrinsic properties(sentience,rareness,uniqueness,diversity,etc.).This means that these ethicists need only defend the claim that certain non-human animals and the environment are extrinsically finally valuable as opposed to intrinsically valuable.

Intrinsic and Extrinsic Value for English Learning: Mediation Effects of SelfEfficacy in Chinese EFL Context

The present study examined how students＇ intrinsic and extrinsic value promotes their foreign language proficiency via the mediation effect of self-efficacy beliefs. A total of 1,036 Chinese eighth graders answered an English proficiency test and questionnaires assessing motivational beliefs. Structural equation modelling results with bootstrapping procedures revealed that intrinsic value can directly and indirectly influence foreign language proficiency via partial mediation effect of self-efficacy while extrinsic value can only directly influence foreign language proficiency with a small magnitude. Moreover, there is no gender difference in the mediation model. Our findings suggested that intrinsic value can help students improve foreign language proficiency by improving their self-efficacy beliefs. The findings contribute to the documents of self-determination theory and hold substantive theoretical and practical implications for foreign language teachers.

An alternative lattice algorithm for option pricing

This paper proposes a dimension reduction technique on lattice model, an extension of the discrete CRR （1979） model, for option pricing. Applications are demonstrated on pricing some vulnerable options with the payoff functions including two stochastic processes： the underlying stock price and the assets value of the option writer. Instead of building a bivariate tree structure for these correlated processes, a univariate binomial tree for the underlying stock price is only constructed. The proposed univariate binomial tree model is sufficient to undertake, though two underlying assets are involved.

The Bhumisukta Revisited in the Background of Contemporary Environmentalism

In this paper I like to revisit Bhumisukta of the Atharvaveda in the backdrop of present-day environmentalism. It is divided into three parts. In Part 1 I like to give a synoptic view of contemporary environmentalism, as reflected in Arne Naess＇s Deep Ecology. In Part 2 I make an exposition of the Bhumisukta, particularly those verses （mantras） which are directly relevant to our environmental concerns. To say the truth, this Bhumisukta （also called the Pcthivisitkta） epitomizes the Vedic Hindu eco-culture. The Bhumisukta （which literally means, the Hymn or Prayer to the Earth） is the oldest and the most evocative environmental discourse. It is called ＂the first natural anthem＂ in the history of mankind. It constitutes the first anuvgtka of dvgtda~ kgm. da of the Atharvaveda and contains 63 verses （mantras） devoted to glorifying the Earth as sacred and inviolable. Many prayers have been sung for the preservation and conservation of Nature and its gifts of splendor. The Bh^misftkta talks about human dependence on the Nature and respect for the same that follows naturally. It proclaims of the Earth as the mother, and humanity as her children Bhumisukta, putro＇ham pr. thivyah＂ In Part 3 1 like to make a brief but critical observation regarding the loss of continuity of Vedic tradition in view of an objection made by some Western environmentalists. In this concluding part I like to respond to the objection that so called eco-sensitive cultures could not avert environmental pollution and depletion of Nature in countries, like India.

Why We Care Whether Our Beliefs Are True： An Answer to Stephen Stich

Do we really care whether our beliefs are true？ Stephen Stich gives us a very surprising but challenging answer： Once we find out what it means for a belief to be true, the answer to the above question is ＂a consistently negative＂ one. He argues that there is neither intrinsic nor instrumental value in having true beliefs. However, his argument is based on some very dubious reasons. For instance, one of his reasons is that if we value true beliefs intrinsically, we will leave out a huge space of mental states that have no truth values but would vastly increase their user＇s power or happiness or biological fitness. But this is false because we can value different things intrinsically at the same time. He is even less successful in arguing against instrumental value in having true beliefs. He admits that he does not establish a knockdown argument against the value of having true beliefs, but he insists that the burden of argument be surely on those who maintain that there is value in having true beliefs. To meet his challenge, we have shown that there is cognitive intrinsic value in holding true beliefs and that generally, true beliefs are more conducive to our survival than false beliefs. If we completely depend on our false beliefs to achieve our goals, we will act like a blind cat who can only catch a mouse by chance.