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.

Provides thought-provoking analyses dealing with issues in philosophy of finance, crucial for economy and society Shows standard ways of conceiving of knowledge production and acquisition in financial markets Highlights the role of philosophy in financial markets' constructions, design, and management

Autorentext

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.

Melissa Vergara-Fernández is Assistant Professor at the Department of Economics, Econometrics, and Finance at the Faculty of Economics and Business, University of Groningen. She serves on the Executive Board of the International Network for Economic Method (INEM) and the Executive Committee of the Latin American Association for the History of Economic Thought (ALAHPE). Her research focusses on the history and philosophy of economics and finance, with particular attention to modelling in economics and the emergence of financial economics as a rigorous subfield of economics since the 1950s. To date, her work on finance has concentrated on asset pricing, with publications in Studies in History and Philosophy of Science, the European Journal for Philosophy of Science, and other edited volumes. Before joining Groningen, she held postdoctoral positions at Erasmus University Rotterdam and at the Center for the History of Political Economy at Duke University.

Fabrizio Zennaro is Advisor at the Bank of Italy, where he has been working since 2012. From 2003 to 2011, he gained professional experience in the private sector, primarily in consultancy roles. He has authored publications for the Bank of Italy and the European Central Bank, focusing on financial innovation and monetary policy. He is currently a PhD candidate in Philosophy at Sapienza University of Rome, with a research focus on the philosophy of economics. He holds a Master in Business Administration (2010) from IE, Madrid, and a degree in Economics (2003) from LUISS Guido Carli, Rome.

Inhalt

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).