TY - JOUR
T1 - Making money from mathematical models
JF - Philosophical Transactions of the Royal Society of London. Series A:
Physical and Engineering Sciences
JO - Philos Trans Phys Sci Eng
SP - 511
LP - 515
M3 - 10.1098/rsta.1994.0060
VL - 347
IS - 1684
AU -
Y1 - 1994/06/15
UR - http://rsta.royalsocietypublishing.org/content/347/1684/511.abstract
N2 - This paper is a discussion of the scientific significance and nature of mathematical models generally, and in finance theory in particular; of the relation of such models to a postulated ‘reality’ ; of the sufficiency of the empirical grounding of such models to the task of drawing useful inferences about such a reality; and of the danger of unwittingly propagating erroneous conclusions about this reality in the absence of such a grounding. Some suggestion as to how the current empirical grounding of mathematical modelling in finance can be enriched.
ER -