The Imagined Market
Donald MacKenzie: Money Games, 31 October 2002
Machine Dreams: Economics Becomes a Cyborg Science
by Philip Mirowski.
Cambridge, 670 pp., £24.95, February 2002,0 521 77526 4 Show More
by Philip Mirowski.
Cambridge, 670 pp., £24.95, February 2002,
“... of some financial economists has been more clearly performative. Fischer Black, Myron Scholes and Robert C. Merton’s Nobel Prize-winning option pricing equation of 1973 – which I described two years ago as ‘the single most important breakthrough in the modern mathematical theory of finance’* – didn’t originally describe the market prices of ... ”