168 citations · 169 across the 2 of their papers we have counts for
3 papers
q-fin.GN2008
The virtues and vices of equilibrium and the future of financial economics
J. Doyne Farmer, John Geanakoplos
The use of equilibrium models in economics springs from the desire for parsimonious models of economic phenomena that take human reasoning into account. This approach has been the…
physics.soc-ph2005★ 1 cited
Economics: The next physical science?
J. Doyne Farmer, Eric Smith, Martin Shubik
We review an emerging body of work by physicists addressing questions of economic organization and function. We suggest that, beyond simply employing models familiar from physics t…
cond-mat.stat-mech2001★ 168 cited
A quantitative model of trading and price formation in financial markets
Marcus G. Daniels, J. Doyne Farmer, Laszlo Gillemot +2
We use standard physics techniques to model trading and price formation in a market under the assumption that order arrival and cancellations are Poisson random processes. This mod…