Talk on “The Philosophy of Science of Financial Economics” at Second Lake Como Summer School on Economic Behaviours: Models, Measurements, and Policies

In collaboration with Melissa Vergara Fernández (Philosophy, EIPE) and Marta Szymanowska (Finance, RSM).

We argue that financial economics should be characterized particularly by its focus on the use of models and by its performative nature. We suggest that the model-based and performative character of financial economics is: (1) visible in the history of its emergence and its current scientific practice, (2) central to the kind of knowledge claims it makes and the challenges that arise from making them, and (3) key to understand what kind of ethical values are and should be at play.

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