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.
In addition to the editors and Callon, the contributors include
Marie-France Garcia-Parpet, Francesco Guala, Emmanuel Didier,
Philip Mirowski, Edward Nik-Khah, Petter Holm, Vincent-Antonin
Lepinay, and Timothy Mitchell."
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