Additional contact information
Francesco Guala: University of Milan
Chapter Chapter 2 in Enacting Dismal Science, 2016, pp 29-52 from Palgrave Macmillan
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)
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.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:pal:pfschp:978-1-137-48876-3_2
Ordering information: This item can be ordered from
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 ().