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Financial Models and Society

Villains or Scapegoats?

Ekaterina Svetlova

This innovative book employs the social studies of finance approach which aims to enhance the dialogue between finance and sociology by addressing the blind spots of economic and financial theories. In so doing, it challenges the accusations made towards financial models in the aftermath of the last economic crisis and argues that they cannot be condemned indiscriminately. Their influence on markets and society is not straightforward, but determined by the many ways in which models are created and then used. Ekaterina Svetlova analyses the various patterns of the application of models in asset management, risk management and financial engineering to demonstrate that their power is far more fragile than widespread criticism would indicate.
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Chapter 6: Conclusions and discussion

Villains or Scapegoats?

Ekaterina Svetlova

Extract

The concluding Chapter 6 considers implications of the book’s findings for further research in decision-making theory, economics, valuation studies, ignorance studies and ethics of financial markets.

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