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Performativity and Financial Markets: Option Pricing in the Late 19th Century

Sotiropoulos, Dimitris and Rutterford, Janette (2014). Performativity and Financial Markets: Option Pricing in the Late 19th Century. Innovation, Knowledge and Development Research Centre, The Open University.

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Abstract

The paper revisits the performativity thesis in economics stressing the plural character of knowledge, which includes not only scientific models but also every form of practical knowledge that systematizes the visible and the articulable experience of economic agents. To highlight the point, the paper examines the pricing of options in London in the late 19th century, long before the academic origin of modern option pricing models. The pamphlets of the time are valuable archives of existing option transactions performed on the basis of systematic practical techniques widely established among investors.

Item Type: Other
Copyright Holders: 2014 The Authors
Keywords: performativity; financial markets; option pricing; Foucault; Higgins; Bachelier
Academic Unit/School: Faculty of Business and Law (FBL) > Business > Department for Accounting and Finance
Faculty of Business and Law (FBL) > Business
Faculty of Business and Law (FBL)
Research Group: Innovation, Knowledge & Development research centre (IKD)
Item ID: 42414
Depositing User: Dimitris Sotiropoulos
Date Deposited: 27 Mar 2015 09:39
Last Modified: 07 Dec 2018 14:13
URI: http://oro.open.ac.uk/id/eprint/42414
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