Autopoietic Market Hypothesis—The Mechanism

Emil Dinga, Camelia Oprean-Stan, Cristina Roxana Tănăsescu, Vasile Brătian and Gabriela-Mariana Ionescu
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Emil Dinga: Romanian Academy
Cristina Roxana Tănăsescu: Lucian Blaga University of Sibiu
Vasile Brătian: Lucian Blaga University of Sibiu
Gabriela-Mariana Ionescu: Romanian Academy

Chapter Chapter 5 in Economic and Financial Market Behaviour, 2023, pp 253-313 from Springer

Abstract: Abstract The chapter aims to provide the (logical) mechanism by which the autopoietic market hypothesis works. Concretely, the known elements of any evolution of life (either biological/natural or logical/symbolic), such as genotype, phenotype, mutation, transcription, translation, and selection, are examined and particularized to the symbolic species called financial market, such as it functions in its new autopoietic „“clothes”. The focus is directed to the selection phase, since, in the symbolic species case, there is a normative selection besides the performative one from the natural world. Also, the transcription and translation are quite different from the natural case because of the interference of the human individual as the „“host” of the symbolic genotype. Some particular processes (autopoietic individuation, autopoietic speciation, selforganization, financial dissipativity, and financial antifragility) are analytically discussed. Finally, the chreode of the autopoietic financial market is proposed.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-31702-6_5

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DOI: 10.1007/978-3-031-31702-6_5

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