Do Economists Make Markets?

On the Performativity of Economics

Donald MacKenzie (Editor), Fabian Muniesa (Editor), Leung Sea SIU (Editor)

Research output: Scholarly Books | Reports | Literary WorksBook (Editor)Researchpeer-review

Abstract

Around the globe, economists affect markets by saying what markets are doing, what they should do, and what they will do. Increasingly, experimental economists are even designing real-world markets. But, despite these facts, economists are still largely thought of as scientists who merely observe markets from the outside, like astronomers look at the stars. Do Economists Make Markets? boldly challenges this view. It is the first book dedicated to the controversial question of whether economics is performative--of whether, in some cases, economics actually produces the phenomena it analyzes.

The book's case studies--including financial derivatives markets, telecommunications-frequency auctions, and individual transferable quotas in fisheries--give substance to the notion of the performativity of economics in an accessible, nontechnical way. Some chapters defend the notion; others attack it vigorously. The book ends with an extended chapter in which Michel Callon, the idea's main formulator, reflects upon the debate and asks what it means to say economics is performative.

The book's insights and strong claims about the ways economics is entangled with the markets it studies should interest--and provoke--economic sociologists, economists, and other social scientists.
Original languageEnglish
Place of PublicationPrinceton
PublisherPrinceton University Press
Number of pages400
ISBN (Print)9780691138497, 9780691130163
Publication statusPublished - 2008

Fingerprint

Economics
Performativity
Economists
Individual transferable quotas
Derivative markets
Financial derivatives
World market
Fisheries
Telecommunications
Auctions
Globe
Attack

Cite this

MacKenzie, D., Muniesa, F., & SIU, L. S. (Eds.) (2008). Do Economists Make Markets? On the Performativity of Economics. Princeton: Princeton University Press.
MacKenzie, Donald (Editor) ; Muniesa, Fabian (Editor) ; SIU, Leung Sea (Editor). / Do Economists Make Markets? On the Performativity of Economics. Princeton : Princeton University Press, 2008. 400 p.
@book{0304f82af3444a65bc84af02c64cd853,
title = "Do Economists Make Markets?: On the Performativity of Economics",
abstract = "Around the globe, economists affect markets by saying what markets are doing, what they should do, and what they will do. Increasingly, experimental economists are even designing real-world markets. But, despite these facts, economists are still largely thought of as scientists who merely observe markets from the outside, like astronomers look at the stars. Do Economists Make Markets? boldly challenges this view. It is the first book dedicated to the controversial question of whether economics is performative--of whether, in some cases, economics actually produces the phenomena it analyzes.The book's case studies--including financial derivatives markets, telecommunications-frequency auctions, and individual transferable quotas in fisheries--give substance to the notion of the performativity of economics in an accessible, nontechnical way. Some chapters defend the notion; others attack it vigorously. The book ends with an extended chapter in which Michel Callon, the idea's main formulator, reflects upon the debate and asks what it means to say economics is performative.The book's insights and strong claims about the ways economics is entangled with the markets it studies should interest--and provoke--economic sociologists, economists, and other social scientists.",
editor = "Donald MacKenzie and Fabian Muniesa and SIU, {Leung Sea}",
year = "2008",
language = "English",
isbn = "9780691138497",
publisher = "Princeton University Press",
address = "United States",

}

MacKenzie, D, Muniesa, F & SIU, LS (eds) 2008, Do Economists Make Markets? On the Performativity of Economics. Princeton University Press, Princeton.

Do Economists Make Markets? On the Performativity of Economics. / MacKenzie, Donald (Editor); Muniesa, Fabian (Editor); SIU, Leung Sea (Editor).

Princeton : Princeton University Press, 2008. 400 p.

Research output: Scholarly Books | Reports | Literary WorksBook (Editor)Researchpeer-review

TY - BOOK

T1 - Do Economists Make Markets?

T2 - On the Performativity of Economics

A2 - MacKenzie, Donald

A2 - Muniesa, Fabian

A2 - SIU, Leung Sea

PY - 2008

Y1 - 2008

N2 - Around the globe, economists affect markets by saying what markets are doing, what they should do, and what they will do. Increasingly, experimental economists are even designing real-world markets. But, despite these facts, economists are still largely thought of as scientists who merely observe markets from the outside, like astronomers look at the stars. Do Economists Make Markets? boldly challenges this view. It is the first book dedicated to the controversial question of whether economics is performative--of whether, in some cases, economics actually produces the phenomena it analyzes.The book's case studies--including financial derivatives markets, telecommunications-frequency auctions, and individual transferable quotas in fisheries--give substance to the notion of the performativity of economics in an accessible, nontechnical way. Some chapters defend the notion; others attack it vigorously. The book ends with an extended chapter in which Michel Callon, the idea's main formulator, reflects upon the debate and asks what it means to say economics is performative.The book's insights and strong claims about the ways economics is entangled with the markets it studies should interest--and provoke--economic sociologists, economists, and other social scientists.

AB - Around the globe, economists affect markets by saying what markets are doing, what they should do, and what they will do. Increasingly, experimental economists are even designing real-world markets. But, despite these facts, economists are still largely thought of as scientists who merely observe markets from the outside, like astronomers look at the stars. Do Economists Make Markets? boldly challenges this view. It is the first book dedicated to the controversial question of whether economics is performative--of whether, in some cases, economics actually produces the phenomena it analyzes.The book's case studies--including financial derivatives markets, telecommunications-frequency auctions, and individual transferable quotas in fisheries--give substance to the notion of the performativity of economics in an accessible, nontechnical way. Some chapters defend the notion; others attack it vigorously. The book ends with an extended chapter in which Michel Callon, the idea's main formulator, reflects upon the debate and asks what it means to say economics is performative.The book's insights and strong claims about the ways economics is entangled with the markets it studies should interest--and provoke--economic sociologists, economists, and other social scientists.

UR - http://press.princeton.edu/titles/8442.html

M3 - Book (Editor)

SN - 9780691138497

SN - 9780691130163

BT - Do Economists Make Markets?

PB - Princeton University Press

CY - Princeton

ER -

MacKenzie D, (ed.), Muniesa F, (ed.), SIU LS, (ed.). Do Economists Make Markets? On the Performativity of Economics. Princeton: Princeton University Press, 2008. 400 p.