Financial Economics and Non-representative Art

Christophe Schinckus

Journal of Interdisciplinary Economics, 2012, vol. 24, issue 1, 77-97

Abstract: In this article, I consider financial economics as an artistic science in which interpretation plays a key role. After having reminded the importance of the Efficient Market Hypothesis [EMH] in the development of institutional frameworks, we present EMH as a work of art—we illustrate this point by considering EMH as an ironic and a non-representative art in which the theoretical picture tends to replace the reality (thanks to technology). This process leads to the creation of a ‘hyper-reality’ that is paradoxically unable to predict or to explain the financial reality. In line with a postmodernist perspective of science, I claim here that financial economics and technology are used not to describe or to better understand the financial reality but rather to invent it.

Keywords: Financial markets; efficient market hypothesis; epistemology; non-representational art; hyper-reality; G10; B40; B50 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:jinter:v:24:y:2012:i:1:p:77-97

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