In response to Paul Hurley, I argue that Donald Davidson's triangulation argument can be applied to normative beliefs only if such beliefs are answerable to properties that are at once normative and causal. The argument thus commits Davidson to a non-reductive and strikingly non-revisionary form of naturalism. In response to Kirk Ludwig, I argue that Davidson had good reason to abandon Humean accounts of pro-attitudes because he had good reason to welcome the non-reductive and non-revisionary form of naturalism that comes into view once the triangulation argument is applied to normative beliefs.

Can an effective argument against scepticism about objective values be modelled on Donald Davidson's familiar argument against scepticism about external things?

Davidson evidently thinks so. He has long been on record as maintaining that a theory of interpretation must be ‘unified’ in the sense that it cannot merely solve f or beliefs and meanings but must simultaneously solve for desires as well. And he has made it quite clear that he thinks a theory of interpretation can do this only by subjecting attributions of desires to a ‘principle of charity’ analogous to the principle that he claims must govern attributions of beliefs. Since his argument against external world scepticism is in large part powered by his claim that charity must govern attributions of beliefs, his feeling that charity must likewise govern attributions of desires might appear to commit him to a similar argument against value scepticism.

Many agricultural producers face cash price distributions that are effectively truncated at a lower limit through participation in farm programs designed to support farm prices and incomes. For example, the 1996 Federal Agricultural Improvement Act (FAIR) makes many producers eligible to obtain marketing loans which truncate their cash price realization at the loan rate, while allowing market prices to freely equilibrate supply and demand. This paper studies the effects of truncated cash price distributions on the optimal use of futures and options. The results show that truncation in the cash price distribution facing an individual producer provides incentives to trade options as well as futures. We derive optimal futures and options trading rules under a range of different truncation scenarios. Empirical results highlight the impacts of basis risk and yield risk on the optimal futures and options portfolio.

Photoconductive Semiconductor Switches (PCSS) were fabricated in planar structures on high resistivity 4H-SiC and conductive 6H-SiC and tested at DC Bias voltages up to 1000 V. The gap spacing between the electrodes is 1 mm. The average on-state resistance and the ratio of on-state to off-state currents were about 20 Ω and 3×1011 for 4H-SiC, and 60 Ω and 6.6×103 for 6H-SiC, respectively. The typical maximum switch current at 1000 V is about 49 A for 4H-SiC. Photoconductivity pulse widths for all applied voltages were 8-10 ns. The observed performance is due in part to the removal of the surface damage by high temperature H2 etching and surface preparation. Atomic Force Microscopy (AFM) images revealed that very good surface morphology, atomic layer flatness and large step widths were achieved with this surface treatment and these atomically smooth surfaces likely contributed to the excellent switching performance of these devices.