Jakob Arnoldi
Biographic Data
| ID | 282070 |
|---|---|
| NAME | Jakob Arnoldi |
| GIVEN NAMES | Jakob |
| FAMILY NAME | Arnoldi |
| SIGNATURE | ARNOLDI J |
| AFFILIATIONS | University of Copenhagen |
| ORCID | 0000-0001-6377-0158 |
| VERIFIED | Yes |
| TOTAL WORKS | 14 |
| TOTAL CITATIONS | 121 |
| WORKS AS AUTHOR | 14 |
| WORKS AS EDITOR | 0 |
| FIRST PUBLICATION YEAR | 1970 |
| LATEST PUBLICATION YEAR | 2026 |
| H-INDEX | 5 |
The end of theory? AI and ignorance in financial markets
AI’s growing role in finance challenges traditional expectations of transparency and theoretical understanding. While machine learning (ML) models enhance financial decision-making, they remain largely agnostic to established financial theories, producing knowledge and ignorance in ways that differ from traditional models like VaR, DCF, and Black-Scholes. This essay explores the decoupling of AI models from theoretical financial knowledge and the…
Computer Algorithms, Market Manipulation and the Institutionalization of High Frequency Trading
The article discusses the use of algorithmic models in finance (algo or high frequency trading). Algo trading is widespread but also somewhat controversial in modern financial markets. It is a form of automated trading technology, which critics claim can, among other things, lead to market manipulation. Drawing on three cases, this article shows that manipulation also can happen in the reverse way, meaning that human traders attempt to make algor…
China White
This article reflects on some themes in Harrison White's work in the context of China, where the social and cultural construction of markets is quite literal. We explore how we get markets where previously there were no markets and draw on White's central themes of 'uncertainty', 'value' and 'order'. We maintain a distinction, with White and with Frank Knight, of risk, on the one hand, and uncertainty, on the other, where 'risk' has to do with en…
Sense making as communication
Dieser Artikel analysiert, wie Niklas Luhmann in der Entwicklung seiner Systemtheorie die Phänomenologie Husserls verwendet. Ein besonderer Schwerpunkt liegt dabei auf dem Sinnbegriff. Beginnend mit Analysen von Luhmanns Übernahme Husserlianischer Begriffe wie Sinn, Noesis-Noema-Korrelation, Identität und Horizont, behandelt der Artikel die Frage, wie Luhmann eine Theorie kommunikativer Sinngebung konstruiert. Diese Analyse führt zunächst zu eine…
Universities and the public recognition of expertise
Informational Ideas
Based on an empirical study of the British think tank Demos, the article deliberates on the nature of current political ideas. The key argument is that such a deliberation must take into account not only ideas of production but also ideas of mediation. The article argues that the ability to disseminate, brand, and market political ideas in the public sphere through the mass media is a crucial part of the activities of modern idea producers such a…
Market Crowds between Imitation and Control
This article is concerned with imitation and control in open-outery financial markets. By analyzing key elements of respectively crowd and network theory (mainly Gabriel Tarde and Harrison C. White) the article argues that market crowds to a wide extent are characterized by imitation. Such imitations take however multiple forms, including 'classic' crowd behavior (where unconscious action and affect rule) hut also different forms of intentional a…
Aktør-netværkteori
Jakob Arnoldi: Actor Network Theory: A-modern (Sociological?) Theory This article is a critical analysis of Bruno Latour’s actor network theory. It outlines two main conceptual moves in Latour’s work. The first is the move from an “irreductionist“ sociology of science to a critique of the so-called “Modern Constitution“. The second is a move from a double dialectic between knowledge and on the one hand the objectively given world, on the other th…
Autopoiesis
Frames and screens
The article is concerned with problems of 'framing' in electronic derivatives markets. Traders in any given trading environment 'frame' or interpret information about the market by drawing on a range of other information, knowledge and heuristics. Such framing reduces uncertainty. In an open outcry market environment, framing information would be flowing in the social networks of that market environment. In electronic markets, traders do not inte…
(Medieskabt) Ekspertise i Medierne
(Media created) expertise in the media The article develops a notion of expertise based on Bourdieu’s notion of symbolic capital. This conception of expertise focuses on public recognition of different forms of capital that, through this public recognition, come to be seen as competencies, i.e. as expertise. The article furthermore argues that the transformation of field specific forms of capital - such as academic, intellectual or cultural capit…
Derivatives
This article examines the financial technology of derivatives. Derivatives are financial products whose values are based on possible fluctuations in the values of underlying assets. Hence derivatives markets are markets that trade in the risks of other markets. In order for derivatives markets to function, forms of prognostication that can assess the possible future fluctuations of the underlying markets are necessary. What such prognostications …
Niklas Luhmann
The article is an introduction to a special section in TCS on the work of Niklas Luhmann. The first part of the article provides a general introduction to Luhmann's work with an emphasis on the basic elements of Luhmann's general systems theory, in particular Luhmann's notions of autopoiesis and meaning, and the traditions on which it is based. The second part of the text is a presentation of the articles in the special section
Modernisering, social mobilitet og systemteori - en diskussion af Niklas Luhmanns systemteori
Title: Modernization, Social Mobility and Systems Theory - a discussion of the systems theory of Niklas Luhmann The article is concerned with the con¬cepts of meaning, self-reference and sy¬stems autonomy in Luhmann’s theory. The article takes as its starting point empirical data on intergenerational social mobility. Such emperical data indi¬cate, it is claimed, that questions can be raised regarding the concept of systems autonomy in Luhmann’s t…
Derivatives
This article examines the financial technology of derivatives. Derivatives are financial products whose values are based on possible fluctuations in the values of underlying assets. Hence derivatives markets are markets that trade in the risks of other markets. In order for derivatives markets to function, forms of prognostication that can assess the possible future fluctuations of the underlying markets are necessary. What such prognostications …
Computer Algorithms, Market Manipulation and the Institutionalization of High Frequency Trading
The article discusses the use of algorithmic models in finance (algo or high frequency trading). Algo trading is widespread but also somewhat controversial in modern financial markets. It is a form of automated trading technology, which critics claim can, among other things, lead to market manipulation. Drawing on three cases, this article shows that manipulation also can happen in the reverse way, meaning that human traders attempt to make algor…
Frames and screens
The article is concerned with problems of 'framing' in electronic derivatives markets. Traders in any given trading environment 'frame' or interpret information about the market by drawing on a range of other information, knowledge and heuristics. Such framing reduces uncertainty. In an open outcry market environment, framing information would be flowing in the social networks of that market environment. In electronic markets, traders do not inte…
Niklas Luhmann
The article is an introduction to a special section in TCS on the work of Niklas Luhmann. The first part of the article provides a general introduction to Luhmann's work with an emphasis on the basic elements of Luhmann's general systems theory, in particular Luhmann's notions of autopoiesis and meaning, and the traditions on which it is based. The second part of the text is a presentation of the articles in the special section
Universities and the public recognition of expertise
Informational Ideas
Based on an empirical study of the British think tank Demos, the article deliberates on the nature of current political ideas. The key argument is that such a deliberation must take into account not only ideas of production but also ideas of mediation. The article argues that the ability to disseminate, brand, and market political ideas in the public sphere through the mass media is a crucial part of the activities of modern idea producers such a…
Market Crowds between Imitation and Control
This article is concerned with imitation and control in open-outery financial markets. By analyzing key elements of respectively crowd and network theory (mainly Gabriel Tarde and Harrison C. White) the article argues that market crowds to a wide extent are characterized by imitation. Such imitations take however multiple forms, including 'classic' crowd behavior (where unconscious action and affect rule) hut also different forms of intentional a…
Autopoiesis
China White
This article reflects on some themes in Harrison White's work in the context of China, where the social and cultural construction of markets is quite literal. We explore how we get markets where previously there were no markets and draw on White's central themes of 'uncertainty', 'value' and 'order'. We maintain a distinction, with White and with Frank Knight, of risk, on the one hand, and uncertainty, on the other, where 'risk' has to do with en…
Modernisering, social mobilitet og systemteori - en diskussion af Niklas Luhmanns systemteori
Title: Modernization, Social Mobility and Systems Theory - a discussion of the systems theory of Niklas Luhmann The article is concerned with the con¬cepts of meaning, self-reference and sy¬stems autonomy in Luhmann’s theory. The article takes as its starting point empirical data on intergenerational social mobility. Such emperical data indi¬cate, it is claimed, that questions can be raised regarding the concept of systems autonomy in Luhmann’s t…
Niklas Luhmann
The article is an introduction to a special section in TCS on the work of Niklas Luhmann. The first part of the article provides a general introduction to Luhmann's work with an emphasis on the basic elements of Luhmann's general systems theory, in particular Luhmann's notions of autopoiesis and meaning, and the traditions on which it is based. The second part of the text is a presentation of the articles in the special section
Derivatives
This article examines the financial technology of derivatives. Derivatives are financial products whose values are based on possible fluctuations in the values of underlying assets. Hence derivatives markets are markets that trade in the risks of other markets. In order for derivatives markets to function, forms of prognostication that can assess the possible future fluctuations of the underlying markets are necessary. What such prognostications …
(Medieskabt) Ekspertise i Medierne
(Media created) expertise in the media The article develops a notion of expertise based on Bourdieu’s notion of symbolic capital. This conception of expertise focuses on public recognition of different forms of capital that, through this public recognition, come to be seen as competencies, i.e. as expertise. The article furthermore argues that the transformation of field specific forms of capital - such as academic, intellectual or cultural capit…
Aktør-netværkteori
Jakob Arnoldi: Actor Network Theory: A-modern (Sociological?) Theory This article is a critical analysis of Bruno Latour’s actor network theory. It outlines two main conceptual moves in Latour’s work. The first is the move from an “irreductionist“ sociology of science to a critique of the so-called “Modern Constitution“. The second is a move from a double dialectic between knowledge and on the one hand the objectively given world, on the other th…
Autopoiesis
Frames and screens
The article is concerned with problems of 'framing' in electronic derivatives markets. Traders in any given trading environment 'frame' or interpret information about the market by drawing on a range of other information, knowledge and heuristics. Such framing reduces uncertainty. In an open outcry market environment, framing information would be flowing in the social networks of that market environment. In electronic markets, traders do not inte…
Universities and the public recognition of expertise
Informational Ideas
Based on an empirical study of the British think tank Demos, the article deliberates on the nature of current political ideas. The key argument is that such a deliberation must take into account not only ideas of production but also ideas of mediation. The article argues that the ability to disseminate, brand, and market political ideas in the public sphere through the mass media is a crucial part of the activities of modern idea producers such a…
Market Crowds between Imitation and Control
This article is concerned with imitation and control in open-outery financial markets. By analyzing key elements of respectively crowd and network theory (mainly Gabriel Tarde and Harrison C. White) the article argues that market crowds to a wide extent are characterized by imitation. Such imitations take however multiple forms, including 'classic' crowd behavior (where unconscious action and affect rule) hut also different forms of intentional a…
Sense making as communication
Dieser Artikel analysiert, wie Niklas Luhmann in der Entwicklung seiner Systemtheorie die Phänomenologie Husserls verwendet. Ein besonderer Schwerpunkt liegt dabei auf dem Sinnbegriff. Beginnend mit Analysen von Luhmanns Übernahme Husserlianischer Begriffe wie Sinn, Noesis-Noema-Korrelation, Identität und Horizont, behandelt der Artikel die Frage, wie Luhmann eine Theorie kommunikativer Sinngebung konstruiert. Diese Analyse führt zunächst zu eine…
China White
This article reflects on some themes in Harrison White's work in the context of China, where the social and cultural construction of markets is quite literal. We explore how we get markets where previously there were no markets and draw on White's central themes of 'uncertainty', 'value' and 'order'. We maintain a distinction, with White and with Frank Knight, of risk, on the one hand, and uncertainty, on the other, where 'risk' has to do with en…
Computer Algorithms, Market Manipulation and the Institutionalization of High Frequency Trading
The article discusses the use of algorithmic models in finance (algo or high frequency trading). Algo trading is widespread but also somewhat controversial in modern financial markets. It is a form of automated trading technology, which critics claim can, among other things, lead to market manipulation. Drawing on three cases, this article shows that manipulation also can happen in the reverse way, meaning that human traders attempt to make algor…
The end of theory? AI and ignorance in financial markets
AI’s growing role in finance challenges traditional expectations of transparency and theoretical understanding. While machine learning (ML) models enhance financial decision-making, they remain largely agnostic to established financial theories, producing knowledge and ignorance in ways that differ from traditional models like VaR, DCF, and Black-Scholes. This essay explores the decoupling of AI models from theoretical financial knowledge and the…
Law (8 works) · Political science (8 works) · Sociology (7 works) · Epistemology (6 works) · Philosophy (6 works) · Computer Science (5 works) · Social science (5 works) · Business (3 works) · Economics (3 works) · Finance (3 works)