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Title:Performativity of economic systems: Approach and implications for taxonomy PDF Logo
Authors:Herrmann-Pillath, Carsten
Issue Date:2012
Series/Report no.:Working Paper series, Frankfurt School of Finance & Management 194
Abstract:The paper proposes to ground the taxonomy of economic systems on the identification of strongly performative institutions as distinctive features. I analyse performativity on the basis of the Aoki model of institutions, enriched by current approaches to performativity, which I combine with Searle's notion of a status function. Performativity is conceived as resulting from the conjunction of public representations (sign systems) and behavioral dispositions which channel strategic interactions among actors such that certain sets of institutions are reproduced recurrently. I apply this approach on the case of financial capitalism and analyze three strongly performative institutions, the accounting standards (IFRS), managerial incentive systems and intellectual property rights.
Subjects:performativity
distributed cognition
status functions
taxonomy of economic systems
financial capitalism
JEL:B41
P00
Document Type:Working Paper
Appears in Collections:Frankfurt School - Working Paper Series, Frankfurt School of Finance and Management

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