Adjusting the model to adjust the world: constructive mechanisms in postwar general equilibrium theory

Boldyrev, Ivan; Ushakov, A.

doi:10.1080/1350178x.2014.1003581

Cited by 25 publications

(10 citation statements)

References 52 publications

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“…Moreover, the mechanochemical processing of powders in a ball mill comprises an interplay between sudden stresses that drive a material away from equilibrium, and the subsequent relaxation phenomena which return the materials to their equilibrium state. 9,[18][19][20][21] The so-called 'mechanochemical equilibrium' 18 which results from this balance gives rise to phenomena such as comminution limits. 18 Recent work has shown the importance of exploring mechanochemical equilibria also for correctly identifying the mechanochemically favourable polymorphic form under a series of milling conditions.…”

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confidence: 99%

The origin of delayed polymorphism in molecular crystals under mechanochemical conditions

Linberg

Szymoniak

Schönhals

et al. 2022

Preprint

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Control over ball milling transformations is needed before the transformative potential of mechanochemical processing can be realized. Many parameters are known to affect the outcome of mechanochemical polymorphism, yet the energy of ball milling is itself often overlooked. We here demonstrate how milling energy can exert significant influence over the polymorphic outcome of ball mill grinding and be used to control the overall reaction profile. Milling energy exerts its effect on the reaction profile by changing the rate at which structural defects form in crystalline phases. These defects destabilize a crystal to drive the system step-by-step towards polymorphic transformation. Our results demonstrate decisively that careful design and interpretation of ball milling experiments are necessary to obtain control over mechanochemical polymorphism

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confidence: 99%

The origin of delayed polymorphism in molecular crystals under mechanochemical conditions

Linberg

Szymoniak

Schönhals

et al. 2022

Preprint

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“…The genealogy of general equilibrium economics and its intimate links to market socialism (Lange 1936) clearly associate the very notion of equilibrium with a planning tool. Now, as shown elsewhere (Boldyrev and Ushakov 2016), the overarching view of market socialists was very early recognized as an excessively ambitious enterprise. And stillwhile general equilibrium was never implemented-it was intended to be implemented.…”

Section: Performativity Of General Equilibrium?mentioning

confidence: 98%

“…The analysis by Arrow, Hurwicz, Scarf and, finally, Sonnenschein-Mantel-Debreu implied that, in general, it is, indeed, the case. SeeBoldyrev and Ushakov (2016) for more historical details.9 As it later turned out (and is noted by Arrow in the English version of his paper-seeArrow 1964), this condition is inessential. 10 See also an incisive comment inSchliesser (2016).…”

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confidence: 93%

The Ontology of Uncertainty in Finance: The Normative Legacy of General Equilibrium

Boldyrev

2019

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This paper considers in detail the ontological and normative presuppositions of the state-contingent approach to pricing commodities first introduced by Arrow (Le rôle des valeurs boursières pour la répartition la meilleure des risques. Econométrie, Centre National de la Recherche Scientifique, Paris, 1953) in his model of general equilibrium under uncertainty, which became a milestone in the theory of finance. By contextualizing Arrow's fundamental contribution and subsequent developments in finance, it demonstrates how this new conceptual framework implied certain technologies-both intellectual and financial. In showing how theoretical thinking about finance was underlying institutional developments in finance, this paper complements the familiar narrative of the performativity of economics.

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“…Boldyrev and Svetlova ( 2016 ). Other recent work is Boldyrev and Ushakov ( 2016 ), who argue that models can be built with the purpose of shaping the world, as in the case of the models of general equilibrium built by Hurwicz, and that this ought to be accounted for in our philosophical accounts of models; Tee ( 2019 ) who argues that, in addition to the traditional criterion of model-world representation, at least some models could be evaluated by their “constructive” capacity; and van Basshuysen et al ( 2021 ), who, in the context of the Covid-19 pandemic suggest ways in which predictive epidemiological models affect their targets and raises important questions about the implications this has for accounts of models.…”

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confidence: 95%

Contextualist model evaluation: models in financial economics and index funds

2023

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Philosophers of science typically focus on the epistemic performance of scientific models when evaluating them. Analysing the effects that models may have on the world has typically been the purview of sociologists of science. We argue that the reactive (or “performative”) effects of models should also figure in model evaluations by philosophers of science. We provide a detailed analysis of how models in financial economics created the impetus for the growing importance of the phenomenon of “passive investing” in financial markets. Considering this case motivates the position that we call contextualism about model evaluation, or model contextualism for short. Model contextualism encompasses standard analyses of the epistemic performance of the model, but also includes their reactive aspects. It entails identifying the epistemic and contextual import of the model, the ways in which a model can engender change in the world (which we call the channels of transmission), and the interactions between the epistemic and reactive import of a model.

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Adjusting the model to adjust the world: constructive mechanisms in postwar general equilibrium theory

Cited by 25 publications

References 52 publications

The origin of delayed polymorphism in molecular crystals under mechanochemical conditions

The origin of delayed polymorphism in molecular crystals under mechanochemical conditions

The Ontology of Uncertainty in Finance: The Normative Legacy of General Equilibrium

Contextualist model evaluation: models in financial economics and index funds

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