My research treats markets and other complex systems as things to simulate rather than solve in closed form.

Journal

• How Market Ecology Explains Market Malfunction. M. P. Scholl, A. Calinescu, J. D. Farmer. Proceedings of the National Academy of Sciences 118(26), 2021. Open access

Conference

• Learning to Manage Investment Portfolios beyond Simple Utility Functions. M. P. Scholl, M. Mahfouz, A. Calinescu, J. D. Farmer. ACM International Conference on AI in Finance (ICAIF), 2025. arXiv · ACM
• Evology: an Empirically-Calibrated Market Ecology Agent-Based Model for Trading Strategy Search. A. Vié, M. Scholl, J. D. Farmer. AI for Agent-Based Modelling Workshop, ICML, 2022. PDF
• Towards Evology: a Market Ecology Agent-Based Model of US Equity Mutual Funds. A. Vié, M. Scholl, A. M. Kleinnijenhuis, J. D. Farmer. Benchmarks in AI Workshop, ACM ICAIF, 2022. arXiv

Preprints

• (Private)-Retroactive Carbon Pricing [(P)ReCaP]. Y. Bengio, P. Gupta, D. Radovic, M. Scholl, A. Williams, C. Schroeder de Witt, T. Zhang, Y. Zhang. arXiv:2205.00666, 2022. Preprint

Thesis

• The Market as an Ecosystem. Doctoral thesis, University of Oxford, 2025.