Standing on the toes of pygmies:
Modern economic theory does not provide a sound foundation on which to build econophysics. Pivotal concepts like utility maximization, perfect competition, and diminishing marginal productivity are empirically and logically flawed. Physicists should not use any of these in econophysics, and should be wary of many other models accepted by economists.
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Volume (Year): 324 (2003)
Issue (Month): 1 ()
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