IDEAS home Printed from https://ideas.repec.org/a/wsi/qjfxxx/v01y2011i01ns2010139211000031.html
   My bibliography  Save this article

Metaphors, Models & Theories

Author

Listed:
  • Emanuel Derman

    (Prisma Capital Partners, Columbia University, USA)

Abstract

Theories deal with the world on its own terms,absolutely. Models are metaphors,relativedescriptions of the object of their attention that compare it to something similar already better understood via theories. Models are reductions in dimensionality that always simplify and sweep dirt under the rug. Theories tell you what something is. Models tell you merely what something is partially like.

Suggested Citation

  • Emanuel Derman, 2011. "Metaphors, Models & Theories," Quarterly Journal of Finance (QJF), World Scientific Publishing Co. Pte. Ltd., vol. 1(01), pages 109-126.
    • Handle: RePEc:wsi:qjfxxx:v:01:y:2011:i:01:n:s2010139211000031
    DOI: 10.1142/S2010139211000031
    as

    Download full text from publisher

    File URL: http://www.worldscientific.com/doi/abs/10.1142/S2010139211000031
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1142/S2010139211000031?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. John Maynard Keynes, 2010. "Essays in Biography," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-59074-2, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Álvaro Chamizo & Alexandre Fonollosa & Alfonso Novales, 2019. "Forward-looking asset correlations in the estimation of economic capital," Documentos de Trabajo del ICAE 2019-25, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Instituto Complutense de Análisis Económico.
    2. Chamizo, Álvaro & Fonollosa, Alexandre & Novales, Alfonso, 2019. "Forward-looking asset correlations in the estimation of economic capital," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 61(C), pages 264-288.
    3. Ravenscroft, Sue & Williams, Paul F., 2021. "Sustaining discreditable accounting research through ignorance: The mainstream elite’s response to the 2008 financial crisis," Accounting, Organizations and Society, Elsevier, vol. 95(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Juan Manuel Ospina, 2019. "Economía para no economistas. Un regalo de la formación del pensamiento económico," Books, Universidad Externado de Colombia, Facultad de Ciencias Sociales y Humanas, number 136, August.
    2. Michael Lainé, 2012. "Keynes on method: is economics a moral science?," Chapters, in: Jesper Jespersen & Mogens Ove Madsen (ed.), Keynes’s General Theory for Today, chapter 4, pages 60-78, Edward Elgar Publishing.
    3. Michaël Lainé, 2016. "Uncertainty, Probability and Animal Spirit [Incertitude, probabilités et esprits animaux]," Post-Print hal-02942874, HAL.
    4. M. Ali Khan & Metin Uyanik, 2021. "The Yannelis–Prabhakar theorem on upper semi-continuous selections in paracompact spaces: extensions and applications," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 71(3), pages 799-840, April.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wsi:qjfxxx:v:01:y:2011:i:01:n:s2010139211000031. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tai Tone Lim (email available below). General contact details of provider: http://www.worldscinet.com/qjf/qjf.shtml .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.