ABSTRACT
The last chapter of the book provides (in a stylized way) a model of the financial market inside/under the Adaptive Preference Hypothesis (APH). This model is built in relation to the concept of propensity (for which a short presentation and discussion are offered). In such a context, the basic theoretical assumptions and methodological assumptions, respectively, are proposed and examined, from the perspectives of logic, epistemology, and behaviour. The most significant topic of the chapter is the proposal regarding the structure of information on the financial market – so that a sort of information (called implicit information) is credited with the potential to provide the primacy of the behaviour on information, within the APH. In this context, other useful concepts in financial market modelling are operationalized: the three informational mixes (available, accessible, and accessed), the cultural geodesic as an attractor for choosing trading strategies, and the three categories of individuals’ competence (observational, ethical, and resolutive) which are linked to three behavioural hypotheses (passive, situational, and active, respectively).
