Do Economists Make Markets?: On the Performativity of Economics

By Donald MacKenzie, Fabian Muniesa, Leung Sea Siu. 2007

1,131 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/2600e617fbdaa1d117fcf70c5b4da1a4c6b0c37a

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In Economics and Econometrics

Citations in the corpus

Large Language Models as Simulated Economic Agents: What Can We Learn from Homo Silicus? (2023, neutral): “…there is potentially a “performativity” problem in the sense that AI agents might behave following our theories and empirical results because they have read about them (MacKenzie, 2007): LLMs have read and memorized our textbooks and papers and will parrot results back to us if asked concretely.”
The Sociology of Finance (2011, background): “See MacKenzie et al. 2007, pp. 190–224 Mizruchi MS. 2010.”
Geographies of markets: Materials, morals and monsters in motion (2011, background): “A large body of work on various market devices and how they shape particular markets has emerged in recent years (see, for instance, the contributions by Callon et al., 2007; MacKenzie et al., 2007; Pinch and Swedberg, 2008).”
The social order of markets (2009, background): “6 The more recently developed performativity approach (Callon 1998; MacKenzie, Muniesa, and Siu 2007) is further away from institutionalism.”
Alternative food networks as “market agencements”: Exploring their multiple hybridities (2016, background): “015 8 does not see economists and marketing specialists as outside observers, but rather as actors who contribute actively to the market’s arrangement (Araujo et al., 2010; MacKenzie et al., 2007).”
Actor-network theory and material semiotics (2009, background): “…regarded as a state of nature; it suggests, like economic anthropology, that markets will take different forms in different places (Callon 1998b); and, most important for my story, it tells us that neoclassical economics is not real until it is enacted into being (MacKenzie, Muniesa, and Siu 2007).”
Theorizing the Bioeconomy (2013, background): “The recent work in STS on the performativity of markets (e.g., Callon 1998; MacKenzie, Muniesa, and Siu 2007) may be of assistance in researching these processes of market construction.”
Performative Prediction (2020, background): “Performativity is a broad concept in the social sciences, philosophy, and economics (MacKenzie et al., 2007; Healy, 2015).”
A socio-technical perspective on low carbon investment challenges – Insights for UK energy policy (2015, background): “In this sense economic theory has played a performative role (Mackenzie et al., 2007; Callon, 1998), not only has it sought to understand the structure and functioning of energy markets, it has played an important role in initially designing them and bringing them into being.”
Financialization of the Economy (2015, background): “Performativity--the idea that theories guide practices in a way that leads them to become true--is a recurring theme in finance (Callon 1998, MacKenzie et al 2007).”