Benoit B. Mandelbrot, when discussing the global appeal of fractal patterns and designs, draws upon examples from across numerous world cultures. What may be missed in Mandelbrot's presentation is Immanuel Kant’s precedence in recognizing this sort of widespread beauty in art and nature, fractals avant la lettre. More importantly, the idea of the fractal may itself assist the aesthetic attitude which Kantian beauty requires. In addition, from a Kantian perspective, fractal patterns may offer a source for a sense (...) of community with humanity. I close with an excursus on the more sombre note of Kantian sublimity which fractals can also present. (shrink)

In this chapter, one considers finance at its very foundations, namely, at the place where assumptions are being made about the ways to measure the two key ingredients of finance: risk and return. It is well known that returns for a large class of assets display a number of stylized facts that cannot be squared with the traditional views of 1960s financial economics (normality and continuity assumptions, i.e. Brownian representation of market dynamics). Despite the empirical counterevidence, normality and continuity assumptions (...) were part and parcel of financial theory and practice, embedded in all financial practices and beliefs. Our aim is to build on this puzzle for extracting some clues revealing the use of one research strategy in academic community, model tinkering defined as a particular research habit. We choose to focus on one specific moment of the scientific controversies in academic finance: the ‘leptokurtic crisis’ opened by Mandelbrot in 1962. The profoundness of the crisis came from the angle of the Mandelbrot’s attack: not only he emphasized an empirical inadequacy of the Brownian representation, but also he argued for an inadequate grounding of this representation. We give some insights in this crisis and display the model tinkering strategies of the financial academic community in the 1970s and the 1980s. (shrink)

A strongly deterministic theory of physics is one that permits exactly one possible history of the universe. In the words of Penrose (1989), "it is not just a matter of the future being determined by the past; the entire history of the universe is fixed, according to some precise mathematical scheme, for all time.” Such an extraordinary feature may appear unattainable in a world like ours. In this paper, I show that it can be achieved in a simple way and (...) discuss its implications for metaphysics and philosophy of science, including natural properties, free will, explanation, and modality. First, I propose a precise definition of strong determinism. Next, I discuss its philosophical ramifications and a toy example. Finally, I provide a realistic example of a strongly deterministic (and simple) physical theory---the Everettian Wentaculus. A surprising consequence is that whether or not our world is strongly deterministic may be empirically underdetermined. (shrink)