Evolución del supuesto de normalidad en finanzas: un análisis epistemológico del tipo Popper-Kuhn ¿Por qué la normalidad no cae en desuso?

Evolution of the assumption of normality in finance: a epistemological analysis of the Popper-Kuhn type. Why does not normality fall into disuse?)

Oscar Jaramillo-Lopez (), German Forero-Laverde and Francisco Venegas-Martínez

MPRA Paper from University Library of Munich, Germany

Abstract: The debate on the assumption of normality, as a necessary principle or not, in the modeling and analysis of some financial phenomena has been a common thread in the development of various areas of finance. The epistemological debate underlies a mathematical model that, despite its limitations, has had a profound impact on the evolution and development of finance. This assumption has been forged since its origin as the search for a mimetic model of reality. The Popperian and Kuhnian analysis proposed in this investigation shows that more than shadows, the assumption has brought light and has raised the technical and theoretical level through multiple generalizations and extensions. In addition to that the popularity of the assumption of normality continues. / El debate del supuesto de normalidad, como principio necesario o no, en el modelado y análisis de algunos fenómenos financieros ha sido un hilo conductor en el desarrollo diversas áreas de las finanzas. El debate epistemológico subyace en un modelo matemático que, a pesar de sus limitaciones, ha tenido un profundo impacto en la evolución y el desarrollo de las finanzas. Dicho supuesto se ha forjado desde su origen como la búsqueda de un modelo mimético de la realidad. El análisis popperiano y kuhniano propuesto en esta investigación muestra que más que sombras, el supuesto ha traído luz y ha elevado el nivel técnico y teórico a través de múltiples generalizaciones y extensiones; además de que la popularidad del supuesto de normalidad sigue aún vigente.

Keywords: Normal distribution; methodological aspects; history of financial concepts; history of economic thought. / Distribución normal; aspectos metodológicos; historia de conceptos financieros; historia del pensamiento económico. (search for similar items in EconPapers)
JEL-codes: B41 G10 (search for similar items in EconPapers)
Date: 2020-07-19
New Economics Papers: this item is included in nep-his and nep-hme
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