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Introducing a New Logical Framework for Modelling Reflexivity in Financial Markets

35 Pages Posted: 23 Aug 2008  

Arief Daynes

University of Portsmouth - Business School

Panagiotis Andrikopoulos

Coventry University

Paraskevas Pagas

University of Portsmouth

David Latimer

Portsmouth Business School

Date Written: August 22, 2008

Abstract

The vicious positive and negative feedback loops (vicious reflexivities) that occur in all areas of the social sciences have the same structure as the logical paradoxes of the Liar and Anti-Liar, and of the corresponding Russell and Anti-Russell paradoxes in set theory. In recent decades the logical and set-theoretic paradoxes have been resolved within the new field of paraconsistent mathematics. The paper argues that the vicious reflexivity apparent in the social sciences can be resolved by a similar move. An outline of the paraconsistent mathematics framework adequate for the modelling of social science reflexivities is presented and discussed.

Keywords: reflexivity, behavioural finance, evolutionary game theory, paraconsistent set theory

JEL Classification: C00, G10, G14

Suggested Citation

Daynes, Arief and Andrikopoulos, Panagiotis and Pagas, Paraskevas and Latimer, David, Introducing a New Logical Framework for Modelling Reflexivity in Financial Markets (August 22, 2008). Available at SSRN: https://ssrn.com/abstract=1247783 or http://dx.doi.org/10.2139/ssrn.1247783

Arief Daynes (Contact Author)

University of Portsmouth - Business School ( email )

Portsmouth, PO1 3DE
United Kingdom
+44 23 92844182 (Phone)
+44 23 92844037 (Fax)

HOME PAGE: http://www.port.ac.uk/departments/academic/ams/staff/title,1246,en.html

Panagiotis Andrikopoulos

Coventry University ( email )

Priory Street
Coventry, CV1 5FB
United Kingdom
+44(0)247 765 7920 (Phone)

Paraskevas Pagas

University of Portsmouth ( email )

Department of Accounting and Finance
Portsmouth Business School
Portsmouth, Hants PO1 3DE
United Kingdom
+44(0)23 9284 4721 (Phone)
+44(0)23 9284 4037 (Fax)

David Latimer

Portsmouth Business School ( email )

Portsmouth, PO1 3DE
United Kingdom

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