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Title: Stylized facts and multiple realizability in econophysics
Authors: Schinckus, Christophe
First Published: 20-Aug-2014
Publisher: Elsevier: Results in Physics
Citation: Results in Physics, 2014, 4, pp. 135-136 (2)
Abstract: Stylized facts are persistent macro-regularities which cannot be described in terms of microeconomic theory. Through the argument of multiple realizability, this methodological paper claims that a top down agent-based econophysics can contribute to a better understanding of complex economic systems in two ways: on the one hand, it clarifies the gap between micro and macro scales by proving an algorithmic derivability of the latter; and on the other hand, this modelling provides microfoundations (and then potentially an economic meaning) to macro-patterns usually identified in the observation of these complex systems.
DOI Link: 10.1016/j.rinp.2014.08.001
eISSN: 2211-3797
Version: Publisher Version
Status: Peer-reviewed
Type: Journal Article
Rights: 2014 The Author. Published by Elsevier B.V. This is an open access article under the CC BY-NC-ND license (
Appears in Collections:Published Articles, School of Management

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