Economics at your fingertips  

Performativity Rationalized

Francesco Guala
Additional contact information
Francesco Guala: University of Milan

Chapter Chapter 2 in Enacting Dismal Science, 2016, pp 29-52 from Palgrave Macmillan

Abstract: Abstract Economic sociologists have been criticized for using the term ‘performativity’ in a way that seems unfaithful to Austin’s notion. In this paper, I defend this usage against Uskali Mäki’s challenge, in particular, his claim that economic theories cannot constitute illocutionary acts. To counter this claim, I argue that performative speech acts play primarily a coordinating role by manipulating agents’ beliefs, and this is the same role that theories like the Black–Scholes model of option pricing play in financial markets, if MacKenzie’s historical reconstruction is right.

Keywords: Nash Equilibrium; Coordination Game; Constitutive Rule; Scholes Model; Wedding Ceremony (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations: Track citations by RSS feed

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Ordering information: This item can be ordered from

DOI: 10.1057/978-1-137-48876-3_2

Access Statistics for this chapter

More chapters in Perspectives from Social Economics from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

Page updated 2022-09-28
Handle: RePEc:pal:pfschp:978-1-137-48876-3_2