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Trading Old for New: Econobiology and Econophysics as Explanatory Frameworks of Current Financial System

Trading Old for New: Econobiology and Econophysics as Explanatory Frameworks of Current Financial... AbstractThe present study aim is to deliver a succinct overview of the existing literature concerning economic systems, and in particular financial systemsfrom the Econobiology, or the “evolutionary economics” perspective, mainly treated within the Adaptive Market Hypothesis, and the Econophysics perspective.In the heterodox frame, both the A.M.H. and the Econophysics are trying to explain the complexity of financial markets from a „bottom up” perspective, hence „macroscopic” properties are viewed as the result of interactions at the level of the ‘microscopic’ constituents (Rickles, 2011, p.531-565). Given the expanded level of information we can access nowadays, we consider that an important attention should be given to the inclusion of both perspectives as explanatory frameworks of the financial markets. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Heterodox Economics de Gruyter

Trading Old for New: Econobiology and Econophysics as Explanatory Frameworks of Current Financial System

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Publisher
de Gruyter
Copyright
© 2018
eISSN
2344-4150
DOI
10.1515/jheec-2016-0004
Publisher site
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Abstract

AbstractThe present study aim is to deliver a succinct overview of the existing literature concerning economic systems, and in particular financial systemsfrom the Econobiology, or the “evolutionary economics” perspective, mainly treated within the Adaptive Market Hypothesis, and the Econophysics perspective.In the heterodox frame, both the A.M.H. and the Econophysics are trying to explain the complexity of financial markets from a „bottom up” perspective, hence „macroscopic” properties are viewed as the result of interactions at the level of the ‘microscopic’ constituents (Rickles, 2011, p.531-565). Given the expanded level of information we can access nowadays, we consider that an important attention should be given to the inclusion of both perspectives as explanatory frameworks of the financial markets.

Journal

Journal of Heterodox Economics – de Gruyter

Published: Dec 1, 2016

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