Looking forward: on the uses of forecasting in market formation

Sine N. Just, Nico Mouton and Jonas Gabrielsen

International Journal of Management Concepts and Philosophy, 2013, vol. 7, issue 3/4, 224-244

Abstract: Forecasts are central to processes of market formation; they partake in the performativity of markets by visualising market developments and directing market actors' gaze towards these developments. Thus, forecasting is a certain way of looking that may be said to bring into being what it sees - market formation in the future tense, so to speak. In this paper, we seek to substantiate this claim by exploring four functions of forecasting: creating the future, avoiding the past, making (the) present, and casting forecasters. The exploration is conceptually guided, but finds an empirical focal point in the case of the Danish real estate market.

Keywords: forecasting; real estate markets; rhetoric; economics performativity; market formation; visualisation; Denmark. (search for similar items in EconPapers)
Date: 2013
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