Related papers: Economics need a scientific revolution
It is argued that the pursuit of an ever increasing number of weights in large-scale machine learning applications, besides being energetically unsustainable, is also conducive to manipulative strategies whereby Science is easily served as…
The article presents a translation of some widespread financial terminology into the language of decision theory. For instance, financial leverage can be regarded as an object of choice or a decision. We show how the optics of decision…
Trust lies at the crux of most economic transactions, with credit markets being a notable example. Drawing on insights from the literature on coordination games and network growth, we develop a simple model to clarify how trust breaks down…
Engineering sciences, such as energy system research, play an important role in developing solutions to technical, environmental, economic, and social challenges of our modern society. In this context, the transformation of energy systems…
Causal models and methods have great promise, but their progress has been stalled. Proposals using causality get squeezed between two opposing worldviews. Scientific perfectionism--an insistence on only using "correct" models--slows the…
The replication crisis has prompted many to call for statistical reform within the psychological sciences. Here we examine issues within Frequentist statistics that may have led to the replication crisis, and we examine the…
We should be in a golden age of scientific discovery, given that we have more data and more compute power available than ever before, plus a new generation of algorithms that can learn effectively from data. But paradoxically, in many…
A vast body of literature addresses the complex nature of science's reproducibility crisis. In contrast with this perceived complexity, some recent papers from the discipline of physics suggests that irreproducibility does not point to a…
The crisis in the reproducibility of experiments invites a re-evaluation of methods of inquiry and validation procedures. The text challenges current assumptions of knowledge acquisition and introduces G-complexity for defining decidable…
This paper debates the contribution of Econophysics to the economic or financial domains. Since the traditional approach performed by Economics or Finance has revealed to be insufficient in fully characterizing and explaining the…
Decision-makers abhor uncertainty, and it is certainly true that the less there is of it the better. However, recognizing that uncertainty is part of the equation, particularly for deciding on environmental policy, is a prerequisite for…
Modern evolvements of the technologies have been leading to a profound influence on the financial market. The introduction of constituents like Exchange-Traded Funds, and the wide-use of advanced technologies such as algorithmic trading,…
Macroeconomics essentially discusses macroeconomic phenomena from the perspectives of various schools of economic thought, each of which takes different views on how macroeconomic agents make decisions and how the corresponding markets…
This is the English version of my inaugural lecture at Coll\`ege de France in 2021, available at https://www.youtube.com/watch?v=bxktplKMhKU. I reflect on the difficulty of multi-disciplinary research, which often hinges of unexpected…
Researchers have argued against deficit-based explanations of students' troubles with mathematical sense-making, pointing instead to factors such as epistemology: students' beliefs about the nature of knowledge and learning can hinder them…
Econophysics is a science in its infancy, born about ten years ago at this time of writing, at the crossing roads of physics, mathematics, computing and of course economics and finance. It also covers human sciences, because all economics…
A fundamental challenge for modern economics is to understand what happens when actors in an economy are replaced with algorithms. Like rationality has enabled understanding of outcomes of classical economic actors, no-regret can enable the…
In their position paper entitled "Towards a new, complexity science of learning and education", Jorg et al. (2007) argue that educational research is in crisis. In their opinion, the transdisciplinary and interdiscursive approach of…
Computer science (CS) education needs to evolve to support software and artificial intelligence (AI) systems engineering, and it needs to happen now -- precisely because the core intellectual contributions of CS have never been more…
The economical world consists of a highly interconnected and interdependent network of firms. Here we develop temporal and structural network tools to analyze the state of the economy. Our analysis indicates that a strong clustering can be…