The outlook sketches the future development. We review the current discussion to modify the equilibrium assumption. Recent results (Talagrand 2021; Vershynin 2025) of identifying peaks and troughs of stochastic processes will enable to implement the interaction of agents and thus to model the self-organisation of markets. Adam Smith experiences justice with this approach. He did neither in “Moral Sentiments”(1759) nor in “Wealth of Nations”(1776) refer to any “equilibrium” when he used the term “invisible hands.”

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Outlook

  • Otto Loistl,
  • Georg Behm,
  • Sascha Bakry

摘要

The outlook sketches the future development. We review the current discussion to modify the equilibrium assumption. Recent results (Talagrand 2021; Vershynin 2025) of identifying peaks and troughs of stochastic processes will enable to implement the interaction of agents and thus to model the self-organisation of markets. Adam Smith experiences justice with this approach. He did neither in “Moral Sentiments”(1759) nor in “Wealth of Nations”(1776) refer to any “equilibrium” when he used the term “invisible hands.”