The Intersubjective Markets Hypothesis

Romain Bocher

Journal of Interdisciplinary Economics, 2022, vol. 34, issue 1, 35-50

Abstract: This study aims to introduce a new theoretical framework for capital markets understanding, reconciling findings from various disciplines such as anthropology, psychology, biology, statistics and physics. Assuming intersubjectivity to be the main driver of interactions between participants, the concept of market narrative is defined as subculture (or ideology) that influences the way investors react to both external events and endogenous dynamics. The new hypothesis is consistent with properties such as self-organisation, speculation, dependency, unboundedness, nonlinearity, dialogic and criticality. JEL: D40, D50, D53, D70, D80

Keywords: Capital markets; intersubjectivity; narratives; self-organised criticality; swarm intelligence (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:sae:jinter:v:34:y:2022:i:1:p:35-50

DOI: 10.1177/02601079211032109

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