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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 […]

What is money?The answers to this fundamental question are evolving in the last decade, also thanks to electronic money and the theoretical and practical issues that they pose.This meeting of the Phinance Online Seminars will confront two viewpoints on money, defen- ded by Frank Hindriks and Francesco Guala, and will be followed by an open […]

The Efficient Market Hypothesis popularized the picture according to which financial markets are real-time mirrors of the economy. They are automatically epistemically efficient because all epistemic inefficiencies would be removed by savvy arbitrageurs by incorporating all publicly available knowledge. This would justify the financial market’s central role in economic and public life.Lisa argues against this […]

Finance, law, and sustainability are more and more interconnected. When law takes over, important questions must be asked. What is the power of legislation and litigation, and what legal instruments and tactics are appropriate? Boudewijn will zoom in on legislative initiatives around sustainable finance deriving from the Action Plan Financing Sustainable Growth published by the European Commission […]