EconStor >
Frankfurt School of Finance and Management >
Frankfurt School - Working Paper Series >

Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen:

http://hdl.handle.net/10419/27930
  
Titel:A neurolinguistic approach to performativity in economics PDF Logo
Autoren:Herrmann-Pillath, Carsten
Datum:2009
Reihe/Nr.:Working paper series // Frankfurt School of Finance & Management 123
Zusammenfassung:In recent sociological studies of markets, especially financial markets, researchers have argued that economics is performative (MacKenzie, Callon et al.). By this they refer to the observation that theories such as the Black-Scholes formula do not simply describe reality, but contributed to the regulatory creation of financial markets in which the agents started to adopt behavioral patterns that correspond to the theory, also relying on artefacts that have been created by the originators of the theory. This notion of performativity fits also other recent uses of language theory in economics, such as the theory of organizational forms in organizational ecology (Carroll and Hannan) or John Searle's theory of institutions. The paper builds on this, especially Searle's approach, and explores the underlying cognitive operations. It is argued that performativity builds on the human capacity to generate new meanings from existing concepts. This is elaborated in the theory of conceptual blending that has been developed by Fauconnier and Turner. For example, blends are a typical phenomenon in the emergence of new business models, such as in the dotcom bubble. The theory of conceptual blending can be based on neuroscientific insights into the operations of the human brain, corresponding to Searle's proposal to ground institutions in neurophysiological dispositions.
Schlagwörter:Searle's theory of institutions
financial markets
emergence of novelty
conceptual blending
neural theory of metaphor
JEL:B41
D02
D87
Persistent Identifier der Erstveröffentlichung:urn:nbn:de:101:1-200907213361
Erscheint in der Sammlung:Frankfurt School - Working Paper Series

Datei(en):
Datei Beschreibung GrößeFormat
608554103.PDF481.4 kBAdobe PDF
Anz. Downloads:
letzter Monat letzte 3 Monate insgesamt
Vollständigen Metadatensatz anzeigen
Diese Publikation empfehlen

Publikationen in EconStor sind urheberrechtlich geschützt.