A neurolinguistic approach to performativity in economics

Carsten Herrmann-Pillath

Journal of Economic Methodology, 2010, vol. 17, issue 3, 241-260

Abstract: What makes institutions 'real'? One central notion has been emerging recently in sociology, which is 'performativity', a term borrowed from the philosophy of language. I propose a neurolinguistic approach to performativity that is based on John Searle's theory of institutions, especially his concept of a 'status function' and his explanation of rule-following as a neurophysiological disposition. Positing a status function is a performative act. I proceed in two steps to establish the neurolinguistic framework. First, I apply the concept of 'conceptual blending' borrowed from cognitive science on the status function, and give empirical applications from the research on performativity in financial markets. Second, I sketch the underlying neuroscience framework following the neural theory of metaphor, which I illustrate empirically with examples from behavioral finance and neuroeconomics.

Keywords: performativity; Searle's theory of institutions; conceptual blending; emergence of markets; neural theory of metaphor; neuroeconomics (search for similar items in EconPapers)
Date: 2010
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Journal Article: A Neurolinguistic Approach to Performativity in Economics (2011)
Working Paper: A neurolinguistic approach to performativity in economics (2009)
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DOI: 10.1080/1350178X.2010.500739

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