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This volume presents ten thought-provoking essays exploring issues in the philosophy of finance that are crucial for the economy and society. They also show the mutual relations and benefits between finance and philosophy. These issues include the link between financial systems and climate change, the ontologies of finance that are essential for market design, the role and effect of AI in the financial systems, the nature and prospects of money and their digital version, methodological problems in the use of models and mathematics in the financial world, and critical discussions of some of the main theories on financial systems, like the efficient market hypothesis. As this volume covers a wide array of topics whilst still forming a coherent whole, it is of interest to philosophers of finance, philosophers of science, epistemologists, and philosophers of economics, as well as to scientists and practitioners interested in the debates over methodological, ontological, epistemological as well as ethical issues in finance.
List of contents
1 Philosophy and Finance: Ten Open Questions (IPPOLITI, ZENNARO, VERGARA-FERNÁNDEZ).- 2 How low-cost AI universal approximators reshape market efficiency (BARUCCA, MORONE).- 3 A tour into dark pools (ALTAY, COLANERI, EKSI-ALTAY).- 4 A critical discussion on how agent-based modeling participates in a potential paradigm shift in Economics (FABRETTI).- 5 Money on My Mind: An empirical investigation of money concepts (GUALA, NOYES, KEIL).- 6 The epistemic value of a millisecond: quotes, speed bumps, and market design (IPPOLITI).- 7 Why we Need an Ontology of Finance (and how Philosophers Can Help Building it) (SANSO).- 8 What does it mean to speak of a model s ontology? Examining the changing ontology of term structure models used in the Libor derivatives markets (SPEARS).- 9 Advanced trading systems: aggressive and unfair speculation or instruments featuring a positive impact on overall markets quality? A Comprehensive assessment (CELLAI, PUORRO).- 10 The risk-neutral probability in finance: an epistemic insight with a toy model (WALTER).- 11 The new form of digital money: not a mere technological innovation (ZENNARO).
About the author
Emiliano Ippoliti is Associate Professor in Logic and Philosophy of Science at the Department of Philosophy, Sapienza University of Rome, Italy, where he received his PhD in Philosophy in 2005. From 2006 to 2008 he was Postdoctoral Researcher in Logic and Philosophy of Science at the same University. In 2008 He was visiting scholar at Penn State University (advisor: E. Grosholz) and then became Senior Lecturer/Assistant Professor in Logic and Philosophy of Science and Philosophy of Science at Sapienza University of Roma (2008-2021). His research focuses on the philosophy of finance, heuristic logic, and philosophy of mathematics (in particular, the philosophy of scientific discovery). He edited and co-edited several volumes for Springer (e.g., “Building theories: Heuristics and hypotheses in science”, 2018 with D. Danks; “Methods and Finance. A Unifying view on Finance, Mathematics and Philosophy”, 2017, with P. Chen), and journal’s S.I. (e.g., “The explanatory andHeuristic Power of Mathematics”, 2022, for Synthese, with S. Bangu and M. Antonutti; “Philosophy for Finance: Theory and Practice”, 2021, for Topoi). His articles have appeared in various scientific journals, such as Synthese; Philosophia Mathematica; The Journal for the General Philosophy of science; Foundations of Science; Topoi.
Summary
This volume presents ten thought-provoking essays exploring issues in the philosophy of finance that are crucial for the economy and society. They also show the mutual relations and benefits between finance and philosophy. These issues include the link between financial systems and climate change, the ontologies of finance that are essential for market design, the role and effect of AI in the financial systems, the nature and prospects of money and their digital version, methodological problems in the use of models and mathematics in the financial world, and critical discussions of some of the main theories on financial systems, like the efficient market hypothesis. As this volume covers a wide array of topics whilst still forming a coherent whole, it is of interest to philosophers of finance, philosophers of science, epistemologists, and philosophers of economics, as well as to scientists and practitioners interested in the debates over methodological, ontological, epistemological as well as ethical issues in finance.
