The financial Logos: The framing of financial decision-making by mathematical modelling

Christian Walter ()

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Abstract: This paper introduces the notion of "financial Logos", defined as a structuring discourse embedded in management tools and beliefs of financial practices. I hypothesize that this discourse contains a specific representation of risk mathematically modelled by probability measures. Next I use a performativity based approach to describe the concrete action of the financial Logos on financial practices: the framing of financial decision-making by mathematical modelling. I argue that it is not possible to think of a given financial practice without epistemologically and sociologically thinking of the contribution of the mathematical modelling to this practice. I conclude with consequences for ethics of finance: extending ethics of action to epistemic ethics, I suggest that, in finance, any preference in mathematical modelling is also a preference in ethics.

Keywords: performativity; mathematisation; mathematical modelling; financialisation; ethics; Finance (search for similar items in EconPapers)
Date: 2016
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-04503518v1
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Published in Research in International Business and Finance, 2016, 37, pp.597-604. ⟨10.1016/j.ribaf.2016.01.022⟩

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Journal Article: The financial Logos: The framing of financial decision-making by mathematical modelling (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-04503518

DOI: 10.1016/j.ribaf.2016.01.022

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