In this paper we present a continuous time dynamical model of heterogeneous agents interacting in a financial market where transactions are cleared by a market maker. The market is composed of fundamentalist, trend following and contrarian agents who process information from the market with...

After the self-criticism of Richard Posner (A failure of capitalism. The crisis of ’08 and the descend to depression. Harvard University Press, Cambridge, <CitationRef CitationID="CR48">2009a</CitationRef> and some later papers), a position shared in part by Gary Becker, it is right to ask what exactly remains of the Chicago School,...</citationref>

The paper discusses synthetically an epistemological question in the field of economics: how to translate a real problem into formal terms without a substantial loss of significance for its solution in policy making. The discussion will challenge the plausibility of the basic assumption of...

This paper shows the links between the epistemological debate in Economics and in Law. In an evolutionary perspective we note phases in which each discipline seems “pure doctrine” and others in which there is greater coherence between theoretical patterns and the real economic and legal...

In this paper we present a continuous time dynamical model of heterogeneous agents interacting in a financial market where transactions are cleared by a market maker. The market is composed of fundamentalist, trend following and contrarian agents who process information from the market with...