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How do microscopic models of financial markets explain?

Models and Simulations, Proceedings (2006)

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  1. Modelling Inequality.Karim Thébault, Seamus Bradley & Alexander Reutlinger - 2018 - British Journal for the Philosophy of Science 69 (3):691-718.
    Econophysics is a new and exciting cross-disciplinary research field that applies models and modelling techniques from statistical physics to economic systems. It is not, however, without its critics: prominent figures in more mainstream economic theory have criticized some elements of the methodology of econophysics. One of the main lines of criticism concerns the nature of the modelling assumptions and idealizations involved, and a particular target are ‘kinetic exchange’ approaches used to model the emergence of inequality within the distribution of individual (...)
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  • Models on the move: Migration and imperialism.Seamus Bradley & Karim P. Y. Thébault - 2019 - Studies in History and Philosophy of Science Part A 77:81-92.
    We introduce ‘model migration’ as a species of cross-disciplinary knowledge transfer whereby the representational function of a model is radically changed to allow application to a new disciplinary context. Controversies and confusions that often derive from this phenomenon will be illustrated in the context of econophysics and phylogeographic linguistics. Migration can be usefully contrasted with concept of ‘imperialism’, that has been influentially discussed in the context of geographical economics. In particular, imperialism, unlike migration, relies upon extension of the original model (...)
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