Mathematical analogies: An engine for understanding the transformations of the boundaries between economics and physics [r-libre/1976]

Jovanovic, Franck, & Le Gall, Philippe (2020). Mathematical analogies: An engine for understanding the transformations of the boundaries between economics and physics. Unpublished manuscript, Université TELUQ.

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Item Type:	Unpublished manuscripts
Refereed:	No
Status:	Unpublished
Abstract:	To date, the relation between economics and physics has been analyzed through the influence of physics on economics. However, in the last years this relation has become more complex, because economic models are nowadays used in physics (minority game, GARCH model, etc.). The aim of this paper is to explain the origin of this new relation between physics and economics. It shows how mathematical analogies have contributed to progressively reshape the disciplinary boundaries of economics and physics, making them more permeable. It investigates three examples: Frisch’s “rocking horse” model (1933); the use of the Ising model for creating econophysics in the 1990s; the minority game, created by econophysicists in 1997 for solving an economic problem and nowadays used in physics. Our investigation demonstrates how mathematical analogies have started to influence the flow of thinking between physics and economics in both directions.
Depositor:	Jovanovic, Franck
Owner / Manager:	Franck Jovanovic
Deposited:	27 May 2020 14:44
Last Modified:	18 Jun 2020 19:11

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