Econophysics is a new and exciting cross-disciplinary research field that applies models and modelling techniques from statistical physics to economic systems. It is not, however, without its critics: prominent figures in more mainstream economic theory have criticized some elements of the methodology of econophysics. One of the main lines of criticism concerns the nature of the modelling assumptions and idealizations involved, and a particular target are ‘kinetic exchange’ approaches used to model the emergence of inequality within the distribution of individual (...) monetary income. This article will consider such models in detail, and assess the warrant of the criticisms drawing upon the philosophical literature on modelling and idealization. Our aim is to provide the first steps towards informed mediation of this important and interesting interdisciplinary debate, and our hope is to offer guidance with regard to both the practice of modelling inequality, and the inequality of modelling practice. _1_ Introduction _1.1_ Econophysics and its discontents _1.2_ Against burglar economics _2_ Modelling Inequality _2.1_ Mainstream economic models for income distribution _2.2_ Econophysics models for income distribution _3_ Idealizations in Kinetic Exchange Models _3.1_ Binary interactions _3.2_ Conservation principles _3.3_ Exchange dynamics _ 4 _ Fat Tails and Savings _ 5 _ Evaluation. (shrink)

This article discusses minimal model explanations, which we argue are distinct from various causal, mechanical, difference-making, and so on, strategies prominent in the philosophical literature. We contend that what accounts for the explanatory power of these models is not that they have certain features in common with real systems. Rather, the models are explanatory because of a story about why a class of systems will all display the same large-scale behavior because the details that distinguish them are irrelevant. This story (...) explains patterns across extremely diverse systems and shows how minimal models can be used to understand real systems. (shrink)

Complex systems research is becoming ever more important in both the natural and social sciences. It is commonly implied that there is such a thing as a complex system, different examples of which are studied across many disciplines. However, there is no concise definition of a complex system, let alone a definition on which all scientists agree. We review various attempts to characterize a complex system, and consider a core set of features that are widely associated with complex systems in (...) the literature and by those in the field. We argue that some of these features are neither necessary nor sufficient for complexity, and that some of them are too vague or confused to be of any analytical use. In order to bring mathematical rigour to the issue we then review some standard measures of complexity from the scientific literature, and offer a taxonomy for them, before arguing that the one that best captures the qualitative notion of the order produced by complex systems is that of the Statistical Complexity. Finally, we offer our own list of necessary conditions as a characterization of complexity. These conditions are qualitative and may not be jointly sufficient for complexity. We close with some suggestions for future work. (shrink)

At the center of quantum chaos research is a particular family of models known as quantum maps. These maps illustrate an important “horizontal” dimension to model construction that has been overlooked in the literature on models. Three ways in which quantum maps are being used to clarify the relationship between classical and quantum mechanics are examined. This study suggests that horizontal models may provide a new and fruitful framework for exploring intertheoretic relations.

Are there really beliefs? Or are we learning (from neuroscience and psychology, presumably) that, strictly speaking, beliefs are figments of our imagination, items in a superceded ontology? Philosophers generally regard such ontological questions as admitting just two possible answers: either beliefs exist or they don't. There is no such state as quasi-existence; there are no stable doctrines of semi-realism. Beliefs must either be vindicated along with the viruses or banished along with the banshees. A bracing conviction prevails, then, to the (...) effect that when it comes to beliefs (and other mental items) one must be either a realist or an eliminative materialist. (shrink)

The fact that the same equations or mathematical models reappear in the descriptions of what are otherwise disparate physical systems can be seen as yet another manifestation of Wigner's “unreasonable effectiveness of mathematics.” James Clerk Maxwell famously exploited such formal similarities in what he called the “method of physical analogy.” Both Maxwell and Hermann von Helmholtz appealed to the physical analogies between electromagnetism and hydrodynamics in their development of these theories. I argue that a closer historical examination of the different (...) ways in which Maxwell and Helmholtz each deployed this analogy gives further insight into debates about the representational and explanatory power of mathematical models. (shrink)

Models are of central importance in many scientific contexts. The centrality of models such as inflationary models in cosmology, general-circulation models of the global climate, the double-helix model of DNA, evolutionary models in biology, agent-based models in the social sciences, and general-equilibrium models of markets in their respective domains is a case in point (the Other Internet Resources section at the end of this entry contains links to online resources that discuss these models). Scientists spend significant amounts of time building, (...) testing, comparing, and revising models, and much journal space is dedicated to interpreting and discussing the implications of models. In short, models are one of the principal instruments of modern science. (shrink)

Simulations using idealized numerical models can often generate behaviors or patterns that are visually very similar to the natural phenomenon being investigated and to be explained. The question arises, when should these model simulations be taken to provide an explanation for why the natural phenomena exhibit the patterns that they do? An important distinction for answering this question is that between ‘how-possibly’ explanations and ‘how-actually’ explanations. Despite the importance of this distinction there has been surprisingly little agreement over how exactly (...) this distinction should bedrawn. I shall argue that inadequate attention has been paid to the different contexts in which an explanation can be given and the different levels of abstraction at which the explanandum phenomenon can be framed. By tracing how scientists are using model simulations to explain a striking periodic banding of vegetation known as tiger bush, I will show how our understanding of the distinction between how-possibly and how-actually model explanations needs to be revised. (shrink)

This study aims to disentangle complexity from randomness and chaos, and to present a definition of complexity that emphasizes its epistemically distinct qualities. I will review existing attempts at defining complexity and argue that these suffer from two major faults: a tendency to neglect the underlying dynamics and to focus exclusively on the phenomenology of complex systems; and linguistic imprecisions in describing these phenomenologies. I will argue that the tendency to discuss phenomenology removed from the underlying dynamics is the main (...) root of the difficulties in distinguishing complex from chaotic or random systems. In my own definition, I will explicitly try to avoid these pitfalls. The theoretical contemplations in this paper will be tested on a sample of five models: the random Kac ring, the chaotic CA30, the regular CA90, the complex CA110 and the complex Bak-Sneppen model. Although these modelling studies are restricted in scope and can only be seen as preliminary, they still constitute on of the first attempts to investigate complex systems comparatively. (shrink)

In this paper, I take scientific models to be epistemic representations of their target systems. I define an epistemic representation to be a tool for gaining information about its target system and argue that a vehicle’s capacity to provide specific information about its target system—its informativeness—is an essential feature of this kind of representation. I draw an analogy to our ordinary notion of interpretation to show that a user’s aim of faithfully representing the target system is necessary for securing this (...) feature. (shrink)