November 1, 2021 by
Adriana Leviston
Adrian K. Yee (4th-year PhD candidate) has recently published a paper in the European Journal for the Philosophy of Science on the history & philosophy of econophysics - a sub-field of contemporary physics and finance which attempts to model economic phenomena via methods and models in the physical sciences. Adrian provides a history of the field in the first half of the paper, ranging from the 1870's onwards, and then suggests improvements for extant methodology in the second half of the paper, concluding that while mathematical method transfer from physics to economics is often justified, the transfer of physical mechanisms is often unjustified.
The paper is free to view here: https://philpapers.org/archive/YEEEMS.pdf
CITATION:
- Yee, Adrian K. (2021). Econophysics: making sense of a chimera. European Journal for the Philosophy of Science. 11(100): 1-34.