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When Financial Economics influences Physics: The Role of Econophysics [r-libre/1316]

Jovanovic, Franck; Mantegna, Rosario et Schinckus, Christophe (janv. 2018). When Financial Economics influences Physics: The Role of Econophysics. Conférence présentée à l' American Economic Association Annual Meeting, Philadelphia.

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[img]  PDF - ASSA_2018-16122017.pdf  
Catégorie de document : Communications à des congrès/colloques et conférences (non publiées)
Évaluation par un comité de lecture : Oui
Étape de publication : Non publié
Résumé : This paper aims at discussing the unexpected influence of Financial economics on Physics. The rise of Econophysics, a fundamentally new approach in finance, suggests that the influence between the two disciplines becomes less unilateral than in the past. Methodological debates emerging in Econophysics led physicists to acknowledge that dealing with financial complex systems contributed to a better modelling of their field. The approach of econophysicists suggests that physicists might try to conceptualize physical phenomena by integrating elements they faced with in Financial economics, and more generally in Economics. Surprisingly, many of econophysicists’ argumentations have some methodological similarities with practices used in Financial economics. This paper analyzes the influence of Financial economics and Economics on Physics by discussing three examples: out of equilibrium processes, signal detection and information. It investigates and illustrates what are the methodological changes generated by Econophysics that explain this new influence, and what is the role of finance. This paper sheds new light on the traditional distinction between “hard sciences” (like Physics) and “soft sciences” (like Economics) and the specific situation of Financial economics in this movement.
Déposant: Jovanovic, Franck
Responsable : Franck Jovanovic
Dépôt : 15 déc. 2017 19:24
Dernière modification : 15 déc. 2017 19:24

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