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

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

Open Access
|Apr 2018

Abstract

The 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.

Language: English
Page range: 63 - 73
Published on: Apr 28, 2018
In partnership with: Paradigm Publishing Services
Publication frequency: 2 issues per year

© 2018 Iuliana Maria Ursu, Raluca Simina Bilti, published by West University of Timisoara
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.