Modern financial economics took root in business schools rather than economics departments

Evidence

Nevertheless, in the 1960s and the 1970s the new financial economics gradually became a recognized, reasonably high-status, enduring part of the academic landscape, one that could, and did, successfully reproduce itself and grow Economists might continue to harbor doubts about the value of the research being done, but business schools, not economics departments, were the main institutional base of the new specialty. Within those schools, the mathematical modeling and computerized statistical testing that the “new finance men” employed were unquestionably state-of-the-art. — Donald MacKenzie, An Engine, Not a Camera, 320

Categorization

• XREF: connects to: Finance scholarship rose from business-school marginality to Nobel-level prominence by the 1990s; Mainstream economists once dismissed finance theory as marginal and trivial — Donald MacKenzie, An Engine, Not a Camera: How Financial…, 34; Finance was institutionally relegated to business schools and dismissed by academic economists as unscientific — Donald MacKenzie, An Engine, Not a Camera: How Financial…, 319 (+2 more)

Broader Connections

• Business school institutional structure determines whether theoretical finance thrives #expands (0.80) — Donald MacKenzie, An Engine, Not a Camera, 1095