Access

Essay

Nature 455, 1181 (30 October 2008) | doi:10.1038/4551181a; Published online 29 October 2008

Open Innovation Challenges

  • Single-cell Analysis Platform

    • Deadline: Dec 02 2009
    • Reward: $5,000 USD

    This Challenge is looking for novel approaches to analyzing changes at a single-cell level. This is...

  • Methods to Analyze Consumer Emotions

    • Deadline: Jan 17 2010
    • Reward: $10,000 USD

    The Seeker is looking for methods to analyze consumer emotions. This Challenge requires only a writ...

naturejobs

Economics needs a scientific revolution

See associated Correspondence: Philippe, Nature 457, 147 (January 2009)

Jean-Philippe Bouchaud1

  1. Jean-Philippe Bouchaud is head of research of Capital Fund Management and a physics professor at cole Polytechnique in France.
    Email: jean-philippe.bouchaud@cea.fr

Top

Financial engineers have put too much faith in untested axioms and faulty models, says Jean-Philippe Bouchaud. To prevent economic havoc, that needs to change.

Compared with physics, it seems fair to say that the quantitative success of the economic sciences has been disappointing. Rockets fly to the Moon; energy is extracted from minute changes of atomic mass.