Metaphors, Models & Theories

Emanuel Derman ()
Additional contact information
Emanuel Derman: Prisma Capital Partners, Columbia University, USA

Quarterly Journal of Finance (QJF), 2011, vol. 01, issue 01, 109-126

Abstract: Theories deal with the world on its own terms,absolutely. Models are metaphors,relativedescriptions of the object of their attention that compare it to something similar already better understood via theories. Models are reductions in dimensionality that always simplify and sweep dirt under the rug. Theories tell you what something is. Models tell you merely what something is partially like.

Keywords: Financial models; theories; asset pricing; derivatives (search for similar items in EconPapers)
Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.worldscientific.com/doi/abs/10.1142/S2010139211000031
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:qjfxxx:v:01:y:2011:i:01:n:s2010139211000031

Ordering information: This journal article can be ordered from

DOI: 10.1142/S2010139211000031

Access Statistics for this article

Quarterly Journal of Finance (QJF) is currently edited by Fernando Zapatero

More articles in Quarterly Journal of Finance (QJF) from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().