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How market ecology explains market malfunction

Scholl, MP; Calinescu, A; Farmer, JD

Scholl, MP (corresponding author), Univ Oxford, Oxford Martin Sch, Inst New Econ Thinking, Oxford OX1 3QD, England.; Scholl, MP (corresponding author), Univ Oxford, Comp Sci Dept, Oxford OX1 3QD, England.

PROCEEDINGS OF THE NATIONAL ACADEMY OF SCIENCES OF THE UNITED STATES OF AMERICA, 2021; 118 (26):

Abstract

Standard approaches to the theory of financial markets are based on equilibrium and efficiency. Here we develop an alternative based on concepts and m......

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