David Orrell

A consistent topic in Orrell’s work is the limitations of mathematical models, and the need to acknowledge these limitations if we are to understand the causes of forecast error. He argues for example that errors in weather prediction are caused primarily by model error, rather than the butterfly effect.{{cite journal|last1=Orrell|first1=David| last2=Smith | first2 = Leonard | last3=Barkmeijer | first3 = Jan | last4 = Palmer | first4 = Tim | title=Model error in weather forecasting|journal= Nonlinear Processes in Geophysics| year=2001| volume=9 |issue=6| pages=357–371 |doi=10.5194/npg-8-357-2001|bibcode=2001NPGeo...8..357O| doi-access=free }} Economic models are seen as particularly unrealistic.{{cite journal|last1=Orrell|first1=David| last2=McSharry| first2 = Patrick| title=System economics: Overcoming the pitfalls of forecasting models via a multidisciplinary approach|journal=International Journal of Forecasting | year=2009| volume=25 |issue=4| pages=734–743| doi=10.1016/j.ijforecast.2009.05.002}} In Truth or Beauty: Science and the Quest for Order, he suggests that many such theories, along with areas of physics such as string theory, are motivated largely by the desire to conform with a traditional scientific aesthetic, that is currently being subverted by developments in complexity science.{{cite news | last= Shea|first= Christopher |date=29 January 2013 |title=Is Scientific Truth Always Beautiful? |magazine=The Chronicle of Higher Education}}

Orrell is considered a leading proponent of quantum finance and quantum economics.{{cite news |author= |date= Nov 6, 2021|title= Schrödinger's markets |newspaper= The Economist}} In The Evolution of Money{{cite journal|last=Angel|first=James| title=The Evolution of Money. By David Orrell and Roman Chlupatý|journal=Business History Review | year=2017| volume=91 | issue=2 |pages=397–399|doi=10.1017/S0007680517000800|s2cid=158834606 }} (coauthored with journalist Roman Chlupatý) and a series of articles{{cite journal|last=Orrell|first=David| title=A Quantum Theory of Money and Value|journal=Economic Thought | year=2016| volume=5 | issue=2 |pages=19–28}}{{cite journal|last=Orrell|first=David| title=A Quantum Theory of Money and Value, Part 2: The Uncertainty Principle|journal=Economic Thought | year=2017| volume=6 | issue=2 |pages=14–26}}{{cite journal|last=Orrell|first=David| title=The value of value: A quantum approach to economics, security and international relations|journal=Security Dialogue | year=2020| volume=51 | issue=5 |pages=482–498|doi=10.1177/0967010620901910 |s2cid=213426733 |doi-access=free}} he proposed a quantum theory of money and value, which states that money has dualistic properties because it combines the properties of an owned and valued thing, with those of abstract number. The fact that these two sides of money are incompatible leads to its complex and often unpredictable behavior. In Quantum Economics: The New Science of Money he argued that these dualistic properties feed up to affect the economy as a whole.{{cite web| last=Clegg|first=Brian| url= http://popsciencebooks.blogspot.com/2018/07/quantum-economics-david-orrell.html|title=Quantum Economics - David Orrell | date=5 July 2018| accessdate=5 July 2018}}

• {{cite book|last=Orrell|first=David|title=Quantum Economics and Finance: An Applied Mathematics Introduction |publisher=Panda Ohana|year=2023|edition=3rd|isbn=978-1916081611}}
• {{cite book|last=Orrell|first=David|title=Money, Magic, and How to Dismantle a Financial Bomb: Quantum Economics for the Real World |publisher=Icon|year=2022|isbn=978-1785788284}}
• {{cite book|last=Orrell|first=David|title=Instant Economics: Key Thinkers, Theories, Discoveries and Concepts |publisher=Welbeck|year=2021|isbn=978-1787394193}}
• {{cite book|last=Orrell|first=David|title=Behavioural Economics: Psychology, Neuroscience, and the Human Side of Economics |publisher=Icon|year=2021|isbn=978-1785786440}}
• {{cite book|last=Orrell|first=David|title=A Brief History of Money: 4,000 Years of Markets, Currencies, Debt and Crisis |publisher= Welbeck |year=2020|isbn=978-1785788284}}
• {{cite book|last=Orrell|first=David|title=Quantum Economics: The New Science of Money |publisher=Icon|year=2018|isbn=978-1785782299}}
• {{cite book|last=Orrell|first=David|title=Economyths: 11 Ways Economics Gets It Wrong |publisher=Icon|year=2017|isbn=978-1848311480}} Revised and extended edition of 2010 book.
• {{cite book|last1=Wilmott|first1=Paul|authorlink1=Paul Wilmott| last2=Orrell|first2=David|title=The Money Formula: Dodgy Finance, Pseudo Science, and How Mathematicians Took Over the Markets |publisher=Wiley|year=2017|isbn=978-1119358619}}
• {{cite book|last1=Orrell|first1=David|last2=Chlupatý|first2=Roman|title=The Evolution of Money |publisher=Columbia University Press|year=2016|isbn=978-0231173728}}
• {{cite book|last=Orrell|first=David|title=Truth or Beauty: Science and the Quest for Order |publisher=Yale University Press|year=2012|isbn=978-0300186611}}
• {{cite book|last1=Sedlacek|first1=Tomas|authorlink1=Tomas Sedlacek (economist)| last2=Orrell|first2=David|last3=Chlupatý|first3=Roman|title=Soumrak Homo Economicus |publisher=65th Square|year=2012|isbn=978-8087506073}}
• {{cite book|last1=Orrell|first1=David|last2=Van Loon|first2=Borin|authorlink2=Borin Van Loon |title=Introducing Economics: A Graphic Guide |publisher=Icon|year=2011|isbn=978-1848312159|title-link=Introducing... (book series)}}
• {{cite book|last=Orrell|first=David|title=Economyths: Ten Ways Economics Gets It Wrong |publisher=Icon|year=2010|isbn=978-1848311480}}
• {{cite book|last=Orrell|first=David|title=The Other Side of the Coin: The Emerging Vision of Economics and Our Place in The World|publisher=Key Porter|year=2008|isbn=978-1552639818|url-access=registration|url=https://archive.org/details/othersideofcoine0000orre}}
• {{cite book|last=Orrell|first=David|title=Gaia |publisher=Lulu.com|year=2008|isbn=978-1409255178}}
• {{cite book|last=Orrell|first=David|title=Apollo's Arrow: The Science of Prediction and the Future of Everything|publisher=HarperCollins|year=2007|isbn=978-0002007405|url-access=registration|url=https://archive.org/details/apollosarrowscie0000orre}} Published in the U.S. as The Future of Everything: The Science of Prediction.

• Anticipatory science forecasts
• Complex systems
• Mathematical model
• Computer model
• Chaos theory
• Systems biology
• Quantum economics

{{Reflist|30em}}

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• [http://www.postpythagorean.com David Orrell's homepage]
• [http://www.systemsforecasting.com Systems Forecasting]
• [https://www.youtube.com/watch?v=ZqsNx-3Thyc Video of talk on money given for Marshall McLuhan lecture, Berlin 2015]
• [https://www.youtube.com/watch?v=W_ZcC-gK5d0 Video of talk on prediction given at TEDx Park Kultury, Moscow in 2012]
• [https://abcnews.go.com/GMA/Technology/story?id=2628804&page=1 ABC News - Good Morning America (excerpts from Apollo's Arrow)]
• [https://web.archive.org/web/20070709134600/http://www.canada.com/nationalpost/story.html?id=07407be3-1f9f-4f41-a16a-5a286a5b374c&k=53926 National Post's review of Apollo's Arrow]
• [https://www.thetimes.com/uk/science/article/truth-or-beauty-science-and-the-quest-for-order-by-david-orrell-q0fr556vkmd Sunday Times review of Truth or Beauty]
• [https://www.e-ir.info/2023/10/22/interview-david-orrell/ David Orrell interview with E-International Relations]

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Category:Canadian non-fiction writers

Category:Canadian mathematicians

Category:Systems biologists

Category:Complex systems theory

Category:Living people

Category:Year of birth missing (living people)