Market Crowds between Imitation and Control  

Oleh:

Arnoldi, Jakob ; Borch, Christian

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Theory, Culture & Society vol. 24 no. 7 (Dec. 2007), page 164-180.
Topik: crowds ¦ finance ¦ markets ¦ networks ¦ network theory ¦ Tarde
Fulltext: 164.pdf (300.44KB)

Isi artikel

This article is concerned with imitation and control in open-outcry financial markets. By analyzing key elements of respectively crowd and network theory (mainly Gabriel Tarde and Harrison C. White) the article argues that market crowds to a wide extent are characterized by imitation. Such imitations take however multiple forms, including ‘classic’ crowd behavior (where unconscious action and affect rule) but also different forms of intentional attempts to exert control. These latter forms are, we argue, better described by White’s network theory. The article is derived from, and seeks to substantiate its claims by drawing on, an empirical study of derivatives markets.

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