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Big Data and algorithmic governance: the case of financial practices

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  • Malcolm Campbell-Verduyn
  • Marcel Goguen
  • Tony Porter

Abstract

Big Data and algorithmic governance are transforming traditional institutions and media of transnational governance in manners that hold important implications for power, accountability and effectiveness. Drawing on actor-network theory, this paper contrasts utopian or dystopian views on the increasing presence of Big Data in contemporary financial practices. We scrutinise the emerging impacts of Big Data in the public governance of private banks in the Basel III arrangements, private governance of individual actors in credit scoring and anarchic competitive governance of markets in high-frequency trading. Our findings reveal varied and emergent forms of governance through, with and by algorithms.

Suggested Citation

  • Malcolm Campbell-Verduyn & Marcel Goguen & Tony Porter, 2017. "Big Data and algorithmic governance: the case of financial practices," New Political Economy, Taylor & Francis Journals, vol. 22(2), pages 219-236, March.
  • Handle: RePEc:taf:cnpexx:v:22:y:2017:i:2:p:219-236
    DOI: 10.1080/13563467.2016.1216533
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    File URL: http://hdl.handle.net/10.1080/13563467.2016.1216533
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    1. Donald MacKenzie, 2008. "An Engine, Not a Camera: How Financial Models Shape Markets," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262633671, May.
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