Phinance

The film has become and might still be, for a while, a useful teaching tool. Both fiction and documentary films serve as conversation starters, sources of information, developers of concepts, providers of visual testimonies, mock legal case studies, and examples of original observation and public intervention. In this seminar, Constantin Parvulescu (author of the book Global Finance on […]

Over the past decade, blockchain and the crypto economy have got considerable attention worldwide. While being initially dismissed as a fringe phenomenon or vilified, we have seen more and more established institutions, regulators, governments, central banks, and hedge funds becoming interested and invested in the blockchain economy over the past four years.This process of going […]

I present without mathematical complexity a toy model of the well-known and celebrated Efficient Market Hypothesis (EMH). This toy EMH-model aims to illuminate the correspondences between the multiple representations of EMH-models with a focus on the two main mathematical frameworks of EMH: the mean-variance universe of Markowitz (1952) under the “real world” probability P and the martingale pricing universe of Harrison and Kreps (1979) […]

 At first sight, the nature of actions such as buying and selling seem to be very straightforward and, for this reason, not worthy of a philosophical investigation. A more careful analysis, however, makes plain that this is not the case: the nature of these actions is characterized by considerable ontological complexity, especially when they involve […]

In what sense does the sustainability transition require sustainable finance? Key ideas underlying the assertion that it does, include a view on the nature of private finance as a productive force and a vision of the market economy as transforming financial investments into material change. In this meeting of the Phinance Online Seminars, Dirk critically considers these […]

Finance and economy are complex systems where many entities with different properties and roles interact continuously. The competitive equilibrium, developed by Arrow and Debreu in 1951, has been, to this day, the fundamental paradigm under which economists work. The traditional approach uses analytically tractable models with a representative perfectly rational agent, usually a profit maximizer. […]

A dark pool is a trading venue alternative to the lit market, where most of the information about execution prices and standing orders is hidden to traders. Such markets have traditionally been used by institutional investors to execute large orders and to mitigate the price impact resulting in standard exchange markets. The reduction of price impact […]

Philosophy & Finance Network – Biennial Conference 8-9 September 2022 Room II, Villa Mirafiori – Dept. Philosophy – Sapienza University of Rome Via Carlo Fea, 2 Open to the public Paolo Barucca (UCL)Boudewijn De Bruin (Groningen)Francesco Guala (Milano Statale)Emiliano Ippoliti (Sapienza)Taylor Spears (Edinburgh)Ekaterina Svetlova (Twente)Melissa Vergara-Fernandez (Erasmus University Rotterdam)Roberto Violi (Bank of Italy)Christian Walter (Paris, MSH) Organization and infoEmiliano […]

When mathematical models are adopted into new fields, actors within those fields tend to modify them in order to ensure their fit with local practices and infrastructures through a process of ‘translation’. The translation of specific models has been studied, but we know little about how the translation of models into field-specific infrastructures shapes subsequent […]

“Once upon a time Wall Street became a favorite subject for Hollywood. After the 2007-2008 crisis, both fiction and documentary films in the US and Europe explored finance with high interest. They earned Oscars, festival awards, and critical acclaim. Their content impacted the public sphere and created a valuable archive for understanding global finance.However, as […]