Dear Pedro,
Thank you an interesting topic for the discussion. The study of the
Informational layer of economics is
extremely important for right understanding of the situation at the financial
market. I would like to point to
the following informational layer – namely, the role of expectations of traders
of the financial market. Is it possible to create models of such expectations
and their role in dynamics of assets? I think that G.
Soros was one of the first who discussed this problem in detail in his book
“Alchemy of Finances.” He pointed to independence of dynamics of expectations
from the situation in “real economics”. Free will of traders plays a crucial
role. Soros proposed to describe free will by the apparatus of QM, in some way
to explore the analogy electron-trader.
This idea was realized by my graduate student, Olga Choustova, see
http://arxiv.org/abs/quant-ph/0109122 see also
Choustova, O.A. (2006). Quantum bohmian model for financial market. Physica A
374, 304--314.
who used so called Bohmian model of QM, an analogue of the pilot wave which
guides a quantum particles was used to describe dynamics of expectations. Real
economics was incorporated in the model through a potential function in
financial Schrodinger’s equation.
As in physical QM, the financial pilot wave can exhibit a complicated behavior
even for zero potential, i.e., zero impact from the real economics. Moreover,
the model is nonlocal.
It is too early to say how much one can proceed in such a framework. However,
it is clear that the informational component plays an important role in modern
economics.
Andrei Khrennikov, professor of applied mathematics,
director of International center for mathematical modeling in physics,
engineering and cognitive science, University of Vaxjo,
Sweden
----- Original Message -----
From: "Pedro C. Marijuan" <[EMAIL PROTECTED]>
Date: Wednesday, October 29, 2008 15:00
Subject: [Fis] informational economics?
To: fis <fis@listas.unizar.es>
> Dear FIS colleagues,
>
> Some aspects of the current financial crisis might be related to
> discussions we had in this list on information and the nature of
> economic flows years ago ("economic networks", and also, central
> aspects
> of ecological "ascendancy").
>
> The amazing growth of financial assets of many kinds during last
> decade
> may have conduced finally to a brutal crisis like the current
> one, not
> just for "greed" or political lack of control, but also for
> dearth of
> scientific understanding. I would argue that:
>
> 1. Financial flows are "anticipatory" information flows that
> preclude
> the structural changes and the evolution to follow by real
> economic
> structures.
>
> 2. Without financial anticipation, economic changes could not
> keep pace
> with technology & science progress due to the "viscosity" of
> social and
> legal webs of relationships.
>
> 3. The creation of successive informational (financial) layers
> becomes
> an exercise in complexity accumulation, that almost inexorably
> leads to
> cross instability thresholds and a general loss resilience.
>
> 4. Though the financial info is a sort of virtual builder, a
> potential
> energy of sorts, it has to suffer "closure" upon the real
> economy; then
> its excessive flows in out from some sector (eg, housing in some
> strategic countries), amplified in the global complexity, have
> now
> potential to destabilize the whole financial layers and bring
> the real
> economy to havoc.
>
> 5. Economy is an informational systems, in crucial aspects, not
> well
> explained yet... advancing an "info economics" would be quite timely.
>
> Would it be interesting to argue on some of these very roughly
> penned
> aspects (while our pockets get emptier and emptier)?
>
> best
>
> Pedro
>
> PS. The recent track on foundations of art is still worth of
> some
> further comment...
>
> ------------------------------------------------
> Pedro C. Marijuán
> Grupo de Bioinformación
> Instituto Aragonés de Ciencias de la Salud
> Avda. Gómez Laguna, 25, Pl. 11ª
> 50.009 Zaragoza. España
> Telf.: 34 976 71 3526 Fax: 34 976 71 5554
> [EMAIL PROTECTED]
> ------------------------------------------------
>
>
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