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The Intersubjective Markets Hypothesis

Author

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  • Romain Bocher

Abstract

This study aims to introduce a new theoretical framework for capital markets understanding, reconciling findings from various disciplines such as anthropology, psychology, biology, statistics and physics. Assuming intersubjectivity to be the main driver of interactions between participants, the concept of market narrative is defined as subculture (or ideology) that influences the way investors react to both external events and endogenous dynamics. The new hypothesis is consistent with properties such as self-organisation, speculation, dependency, unboundedness, nonlinearity, dialogic and criticality. JEL: D40, D50, D53, D70, D80

Suggested Citation

  • Romain Bocher, 2022. "The Intersubjective Markets Hypothesis," Journal of Interdisciplinary Economics, , vol. 34(1), pages 35-50, January.
    • Handle: RePEc:sae:jinter:v:34:y:2022:i:1:p:35-50
    DOI: 10.1177/02601079211032109
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    References listed on IDEAS

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    More about this item

    Keywords

    Capital markets; intersubjectivity; narratives; self-organised criticality; swarm intelligence;
    All these keywords.

    JEL classification:

    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General

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