An Engine, Not a Camera: How Financial Models Shape Markets (Inside Technology)

An Engine, Not a Camera: How Financial Models Shape Markets (Inside Technology)
Автор
 
Год
 
Страниц
 
392
ISBN
 
0262633671
Издатель
 
TSO
Категория
 
Новые поступления. Бизнес и экономика

Описание:

Winner of the 2008 Viviana Zelizer Distinguished Scholarship Award given by the American Sociological Association’s section on Economic Sociology., Winner, 2007 British International Studies Association’s (BISA) International Political Economy Group (IPEG) Book Prize. and Winner of the 2005 John Desmond Bernal Prize awarded jointly by the Society for Social Studies of Science (4S) and the Institute for Scientific Information. In An Engine, Not a Camera, Donald MacKenzie argues that the emergence of modern economic theories of finance affected financial markets in fundamental ways. These new, Nobel Prize-winning theories, based on elegant mathematical models of markets, were not simply external analyses but intrinsic parts of economic processes. Paraphrasing Milton Friedman, MacKenzie says that economic models are an engine of inquiry rather than a camera to reproduce empirical facts. More than that, the emergence of an authoritative theory of financial markets altered those...

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