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by bofadeez
206 days ago
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It started that way. I was responding to the assumption that time is the underlying variable of all economics. Then someone said everything reduces to time and they brought up Black-Scholes, a quant tool to price options. I didn't bring it up lol. My point is simply no, time is demonstrably not fundamental at all. Edit: an LLM thinks I'm overly dismissive of:
- Standard economic modeling
- Dynamic macroeconomic theory
- Agent-based economics
- The legitimate uses of time in economics This is true. I think causal inference in finance and economics is difficult. As Ludwig von Mises argued, mathematical models give spurious precision when applied to purposeful behavior. Academic ideas don't have a built-in feedback loop like in quant finance. |
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