Caribou avoiding wolves face increased predation by bears - Caught between Scylla and Charybdis

Between Scylla and Charybdis.

The ethical dilemmas of treating fulminant (or subfulminant) hepatic failure with liver replacement have been apparent since the earliest trials of this procedure. Acute hepatic failure was the indication for orthotopic liver transplantation in only I of our first 237 recipients I and accounted for only 8 of the next 300.2 Our reluctance to proceed with more cases was that unlike candidates who...

Caught between Scylla and Charybdis? Regulating Bank Leverage When There Is Rent-seeking and Risk-shifting

We consider a model in which banking is characterized by asset substitution moral hazard and managerial under-provision of effort in loan monitoring. The privately-optimal bank leverage efficiently balances the benefit of debt in providing the discipline to ensure that the bank monitors its loans against the benefit of equity in attenuating asset-substitution moral hazard. However, when correla...

Caught between Scylla and Charybdis? Regulating Bank Leverage When There Is Rent-seeking and Risk-shifting

We consider a model in which banks face two moral hazard problems: 1) asset substitution by shareholders, which can occur when banks make socially-inefficient, risky loans; and 2) managerial under-provision of effort in loan monitoring. The privately-optimal level of bank leverage is neither too low nor too high: It efficiently balances the market discipline that owners of risky debt impose on ...

Psychiatric paternalism between Scylla and Charybdis

As much as strong medical paternalism should never be exercised, some weak paternalism towards patients is, on the contrary, part of physicians' and society's moral obligation. So far, this is a widely consented position in medical ethics. What then are the defining and the justifying conditions for legitimate weak paternalism in psychiatry? In this presentation it is argued in favor of three n...

Delphi: Somewhere between Scylla and Charybdis?