Skip to main content

Performativität und ihre Grenzen

Das Verhältnis zwischen ökonomischem Wissen und ökonomischer Praxis am Beispiel der Finanzanalyse

  • Chapter
  • First Online:
Die Innenwelt der Ökonomie
  • 3282 Accesses

Zusammenfassung

Die von Callon 1998 aufgestellte These, dass die Wirtschaftswissenschaft die Gesetzmäßigkeiten und Praktiken des Finanzmarktes nicht nur beschreibt, sondern ebenso formt, hat in der aktuellen Wirtschaftssoziologie und Finanzanthropologie großen Anklang gefunden. Konzeptualisiert als „Performativität“ sind seit Callons Formulierung der These zahlreiche wissenschaftliche Beiträge dazu erschienen. Forscherteams um Michel Callon an der Pariser École Nationale Supérieure des Mines und um Donald MacKenzie an der University of Edinburg forschen rege zu den Wechselwirkungen zwischen ökonomischer Theorie und ökonomischer Praxis.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Subscribe and save

Springer+ Basic
$34.99 /Month
  • Get 10 units per month
  • Download Article/Chapter or eBook
  • 1 Unit = 1 Article or 1 Chapter
  • Cancel anytime
Subscribe now

Buy Now

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 59.99
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 74.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Similar content being viewed by others

Literatur

  • Akerlof, G., & Shiller, R. (2009). Animal Spirits: How Human Psychology Drives the Economy, and Why it Matters for Global Capitalism. Princeton: Princeton University Press.

    Google Scholar 

  • Beunza, D., & Garud, R. (2007). Calculators, Lemmings or Frame-Makers? The Intermediary Role of Securities Analysts. In M. Callon, Y. Millo & F. Muniesa (Hrsg.), Market Devices (S. 13–39). Malden: Blackwell Publishing.

    Google Scholar 

  • Bodie, Z., Kane, A., & Marcus, A. J. (2002). Investments. 5. Aufl. New York: McGraw Hill.

    Google Scholar 

  • Butler, J. (2010). Performative Agency. Journal of Cultural Economy 3 (2), 147–161.

    Google Scholar 

  • Çalışkan, K., & Callon, M. (2009). Economization, Part 1: Shifting Attention from the Economy towards Processes of Economization. Economy and Society 38 (3), 369–398.

    Google Scholar 

  • Callon, M. (1998). The Embeddedness of Economic Markets in Economics. In M. Callon (Hrsg.), The Laws of the Markets (S. 1–57). Oxford: Blackwell Publishing.

    Google Scholar 

  • Callon, M. (2007). What Does it Mean to Say that Economics is Performative? In D. Mac-Kenzie, F. Muniesa & L. Siu (Hrsg.), Do Economists Make Markets? On the Performativity of Economics (S. 311–357). Princeton, Oxford: Princeton University Press.

    Google Scholar 

  • Cassidy, R. (2009). „Casino Capitalism“ and the Financial Crisis. Anthropology Today 25 (4), 10–13.

    Google Scholar 

  • Chesney, M. (2014). Vom Großen Krieg zur Permanenten Krise: Der Aufstieg der Finanzaristokratie und das Versagen der Demokratie. Zürich: Versus.

    Google Scholar 

  • Copeland, T., Koller, T., & Murrin, J. (2000). Valuation: Measuring and Managing the Value of Companies. 3. Aufl. New York: Wiley.

    Google Scholar 

  • Cowles, A. (1933). Can Stock Market Forecasters Forecast? Econometrica 1 (3), 309–324.

    Google Scholar 

  • Fama, E. F. (1965). The Behavior of Stock-Market Prices. The Journal of Business 38 (1), 34–105.

    Google Scholar 

  • Fama, E. F. (1970). Efficient Capital Markets: A Review of Theory and Empirical Work. The Journal of Finance 25 (2), 383–417.

    Google Scholar 

  • Ferraro, F., Pfeffer, J., & Sutton R. I. (2005). Economics, Language and Assumptions: How Theories can Become Self-Fulfilling. Academy of Management Review 30 (1), 8–24.

    Google Scholar 

  • Financial Times. (2009). Monkey Business. http://www.ftd.de/panorama/vermischtes/outofoffice/:weekend-monkey-business/459439.html. Zugegriffen: 22. März 2014.

  • Garcia-Parpet, M.-F. (2007 [1986]). The Social Construction of a Perfect Market: the strawberry auction at Fontaines-en-Sologne. In D. MacKenzie, F. Muniesa & L. Siu (Hrsg.), Do Economists make Markets? On the Performativity of Economics (S. 20–53). Princeton: Princeton University Press.

    Google Scholar 

  • Graham, B., & Dodd, D. L. (1940 [1934]). Security Analysis: Principle and Technique. 2. Aufl. New York, London: McGraw-Hill.

    Google Scholar 

  • Grossman, S. J., & Stiglitz, J. E. (1980). On the Impossibility of Informationally Efficient Markets. The American Economic Review 70 (3), 393-408.

    Google Scholar 

  • Harding, S. (2011). Stock Market Becomes Short Attention Span Theater of Trading. http://www.forbes.com/sites/greatspeculations/2011/01/21/stock-market-becomes-short-attention-span-theater-of-trading/. Zugegriffen: 22. März 2014.

  • Ho, K. (2005). Situating Global Capitalisms: A View from Wall Street Investment Banks. Cultural Anthropology 20 (1), 68–96.

    Google Scholar 

  • Ho, K. (2009). Liquidated: An Ethnography of Wall Street. Durham, London: Duke University Press.

    Google Scholar 

  • Jovanovic, F., & Le Gall, P. (2001). Does God Practice a Random Walk? The „Financial Physics“ of a Nineteenth-Century Forerunner, Jules Regnault. European Journal of the History of Economic Thought 8 (3), 332–362.

    Google Scholar 

  • Kahneman, D., & Tversky, A. (1973). On the Psychology of Prediction. Psychological Review 80, 237–251.

    Google Scholar 

  • Kalthoff, H. (2009). Die Finanzsoziologie: Social Studies of Finance. Zur neuen Soziologie ökonomischen Wissen. In J. Beckert & C. Deutschmann (Hrsg.), Kölner Zeitschrift für Soziologie und Sozialpsychologie, Sonderheft 49: Wirtschaftssoziologie, 266–287.

    Google Scholar 

  • Kendall, M. (1953). The Analysis of Economic Time Series, Part I: Prices. Journal of the Royal Statistical Society 116 (1), 11–34.

    Google Scholar 

  • Knight, F. H. (1921). Risk, Uncertainty and Profit. Boston: Houghton Mifflin.

    Google Scholar 

  • Knorr Cetina, K., & Bruegger, U. (2000). The Market as an Object of Attachment: Exploring Postsocial Relations in Financial Markets. Canadian Journal of Sociology 25 (2), 141–168.

    Google Scholar 

  • Knorr Cetina, K., & Bruegger, U. (2002). Global Microstructures: The Virtual Societies of Financial Markets. American Journal of Sociology 107 (4), 905–950.

    Google Scholar 

  • Knorr Cetina, K. (2007). Culture in Global Knowledge Societies: Knowledge Cultures and Epistemic Cultures. Interdisciplinary Science Reviews 32 (4), 361–375.

    Google Scholar 

  • Knorr Cetina, K. (2011). Financial Analysis: Epistemic Profile of an Evaluative Science. In Ch. Camic, N. Gross & M. Lamond (Hrsg.), Social Knowledge in the Making (S. 405–441). Chicago: University of Chicago Press

    Google Scholar 

  • Latour, B. (2005). Reassembling the Social: An Introduction to Actor-Network-Theory. Oxford: Oxford University Press.

    Google Scholar 

  • Leins, S. (2011). Pricing the Revolution: Financial Analysts Respond to the Egyptian Uprising. Anthropology Today 27 (4), 11–14.

    Google Scholar 

  • Leins, S. (2013). Playing the Market? The Role of Risk, Uncertainty and Authority in the Construction of Stock Market Forecasts. In R. Cassidy, A. Pisac & C. Loussouarn (Hrsg.), Qualitative Research in Gambling: Exploring the Production and Consumption of Risk (S. 218–232). New York, London: Routledge.

    Google Scholar 

  • MacKenzie, D., & Millo, Y. (2003). Constructing a Market, Performing Theory: The Historical Sociology of a Financial Derivatives Exchange. American Journal of Sociology 109 (1), 107–145.

    Google Scholar 

  • MacKenzie, D., Muniesa, F., & Siu, L. (Hrsg.) (2007). Do Econonomists Make Markets? On the Performativity of Economics. Princeton, Oxford: Princeton University Press.

    Google Scholar 

  • MacKenzie, D. (2006). An Engine, Not a Camera: How Financial Models Shape Markets. Cambridge, London: The MIT Press.

    Google Scholar 

  • MacKenzie, D. 2007. Is Economics Performative? Option Theory and the Construction of Derivatives Markets. In D. MacKenzie, F. Muniesa & L. Siu (Hrsg.), Do Economists make Markets? On the Performativity of Economics (S. 54–86). Princeton: Princeton University Press.

    Google Scholar 

  • Mähr, M. (2014). Körper, Performanz und Tools an den Finanzmärkten. Ein Lektüreessay zu Vincent Lépinays „Codes of Finance“, Donald MacKenzies „An Engine, Not a Camera“ und David Starks „The Sense of Dissonance“. Unveröffentlichte Seminararbeit, ETH Zürich.

    Google Scholar 

  • Malkiel, B. (1985 [1973]). A Random Walk down Wall Street. 4. Aufl. New York: Norton.

    Google Scholar 

  • Mars, F. (1998). „Wir sind alle Seher“: Die Praxis der Aktienanalyse. Unveröffentlichte Dissertation, Universität Bielefeld.

    Google Scholar 

  • Miller, D. (2002). Turning Callon the Right Way Up. Economy and Society 31 (2), 218–233.

    Google Scholar 

  • Mirowski, P. (2013). Facebook Teaches You How to Be a Neoliberal Agent. An Interview with Philip Mirowski. https://estudiosdelaeconomia.wordpress.com/2013/07/22/facebook-teaches-you-how-to-be-a-neoliberal-agent-an-interview-with-philip-mirowski/. Zugegriffen: 4. Juli 2014.

  • Osborne, M. F.M. (1959). Brownian Motion in the Stock Market. Operations Research 7 (2): 145–173.

    Google Scholar 

  • Preda, A. (2004). Informative Prices, Rational Investors: The Emergence of the Random Walk Hypothesis and the Nineteenth-Century “Science of Financial Investments”. History of Political Economy 36 (2), 351–386.

    Google Scholar 

  • Preda, A. (2007). Where do Analysts Come from? The Case of Financial Chartism. The Sociological Review 55 (2), 40–64.

    Google Scholar 

  • Riles, A. (2010). Collateral Expertise: Legal Knowledge in the Global Financial Markets. Current Anthropology 51 (6), 795–818.

    Google Scholar 

  • Saft, J. (2012). The Wisdom of Exercising Patience in Investing. http://www.reuters.com/article/2012/03/02/us-patience-saft-idUSTRE8210O620120302. Zugegriffen: 28. Februar 2015.

  • Samuelson, P. (1965). Proof That Properly Anticipated Prices Fluctuate Randomly. Industrial Management Review 6 (2), 41–49.

    Google Scholar 

  • Stark, D., & Beunza D. (2009). The Cognitive Ecology of an Arbitrage Trading Room. In D. Stark (Hrsg.), The Sense of Dissonance: Accounts of Worth in Economic Life (S. 118–162). Princeton: Princeton University Press.

    Google Scholar 

  • Tanner, J. (2010). A Random Walk Down Wall Street? Industriemoderne und Finanzmarktkapitalismus. In M. Sabrow (Hrsg.), ZeitRäume: Potsdamer Almanach des Zentrums für Zeithistorische Forschung (S. 169–184). Göttingen: Wallstein Verlag.

    Google Scholar 

  • The Observer. (2013). Investments: Orlando is the Cat’s Whiskers of Stock Picking. http://www.theguardian.com/money/2013/jan/13/investments-stock-picking. Zugegriffen: 07. August 2014.

  • Vogl, J.. 2010. Das Gespenst des Kapitals. Zürich: diaphanes.

    Google Scholar 

  • Wansleben, L. (2012). Financial Analysts. In K. Knorr Cetina & A. Preda (Hrsg.), Handbook of the Sociology of Finance (S. 250–271). Oxford: Oxford University Press.

    Google Scholar 

  • Wansleben, L. (2013). Cultures of Expertise in Global Currency Markets. London: Routledge.

    Google Scholar 

  • Working, H. (1934). A Random Difference Series for Use in the Analysis of Time Series. Journal of the American Statistical Association 29 (185), 11–24.

    Google Scholar 

  • Zaloom, C. (2006). Out of the Pits: Trading Technologies from Chicago to London. Chicago: University of Chicago Press.

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Corresponding author

Correspondence to Stefan Leins .

Editor information

Editors and Affiliations

Rights and permissions

Reprints and permissions

Copyright information

© 2017 Springer Fachmedien Wiesbaden

About this chapter

Cite this chapter

Leins, S. (2017). Performativität und ihre Grenzen. In: Maeße, J., Pahl, H., Sparsam, J. (eds) Die Innenwelt der Ökonomie. Springer VS, Wiesbaden. https://doi.org/10.1007/978-3-658-10428-3_17

Download citation

  • DOI: https://doi.org/10.1007/978-3-658-10428-3_17

  • Published:

  • Publisher Name: Springer VS, Wiesbaden

  • Print ISBN: 978-3-658-10427-6

  • Online ISBN: 978-3-658-10428-3

  • eBook Packages: Social Science and Law (German Language)

Publish with us

Policies and ethics