Czesław Mesjasz

Leaving apart the general discussions about identity and validity of econophysics as a science, it is necessary to reflect upon a deeper sense of research in that area. In particular a rank of hidden assumptions made in econophysical discussions can be taken into account. I call them purposively “metaphysics of econophysics”. Two of them will be given more attention in the paper. Bearing in mind several simplifying assumptions applied in econophysics the study aims at investigating in depth the following characteristics of econophysics/sociophysics:

Operationalization and measurement of value and operationalization and measurement of the value of money.
Application of scale-free networks in studying the processes of social organization.

The above aims are associated with the following hypotheses, which can be also treated as conjectures:

In developing econophysical models of financial phenomena insufficient attention is paid to the following issues:

intersubjective character of value and money as social constructs (money as social construction, problems with operatonalization and measurement,
measurement and operationalization of value,
measurement and operationalization of value of money,
multiple and multi-level randomization of the value of money contributes to the loss of informative usefulness of measurement of money; in other words the hypothesis will be tested with the use of formal models that in such case the GI-GO (Garbage In – Garbage Out) situation is emerging.

The social networks are created in the process of intersubjective discourse and operationalization and measurement of their characteristics are of a limited usefulness.

In the case of network models applied to social phenomena, the methods of identification of networks will be scrutinized. Basically, two methods of networks identification/creation exist. In the first one, the network is identified on the basis of real interactions, not only physical but also symbolic, e.g. semantic networks. In the second approach, a network is created by an observer identifying ties between actors sharing the same interests, reading the same texts, etc. In both types of networks the challenges of measurement, operationalization, objectivity, subjectivity and intersubjectivity always occur.