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Models as speech acts: the telling case of financial models

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  • Nicolas Brisset

Abstract

This paper intends to bring Austinian themes into methodological discussion about models. Using Austinian conceptual vocabulary, I argue that models perform actions in and outside of the academic field. This multiplicity of fields induces a variety of felicity conditions and types of performed actions. If for example, an inference from a model is judged according to some epistemological criteria in the scientific field, the representation of the world which the model carries will not be judged by the same criteria outside the scientific field. A model can be considered as a standard in a strict scientific framework, while not being used as part of public policies, or vice versa. However, we focus on the dynamics between different fields.

Suggested Citation

  • Nicolas Brisset, 2018. "Models as speech acts: the telling case of financial models," Journal of Economic Methodology, Taylor & Francis Journals, vol. 25(1), pages 21-41, January.
  • Handle: RePEc:taf:jecmet:v:25:y:2018:i:1:p:21-41
    DOI: 10.1080/1350178X.2018.1419105
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    1. Michael C. Jensen, 1968. "The Performance Of Mutual Funds In The Period 1945–1964," Journal of Finance, American Finance Association, vol. 23(2), pages 389-416, May.
    2. Brisset, Nicolas, 2017. "On Performativity: Option Theory And The Resistance Of Financial Phenomena," Journal of the History of Economic Thought, Cambridge University Press, vol. 39(4), pages 549-569, December.
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    19. Nicolas Brisset, 2016. "Economics Is not Always Performative: Some Limits for Performativity," Post-Print halshs-01319693, HAL.
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    Cited by:

    1. Christian Walter, 2020. "Sustainable Financial Risk Modelling Fitting the SDGs: Some Reflections," Sustainability, MDPI, Open Access Journal, vol. 12(18), pages 1-28, September.
    2. Thomas Delcey, 2019. "Samuelson vs Fama on the Efficient Market Hypothesis: The Point of View of Expertise [Samuelson vs Fama sur l’efficience informationnelle des marchés financiers : le point de vue de l’expertise]," Post-Print hal-01618347, HAL.
    3. Nicolas Brisset & Raphaël Fèvre, 2019. "Prendre la parole sous l'État français: Le cas de François Perroux," GREDEG Working Papers 2019-19, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    4. Thomas Delcey, 2019. "Samuelson vs Fama on the Efficient Market Hypothesis: The Point of View of Expertise [Samuelson vs Fama sur l’efficience informationnelle des marchés financiers : le point de vue de l’expertise]," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-01618347, HAL.
    5. Nicolas Brisset & Dorian Jullien, 2019. "Models as Speech Acts: A Restatement and a new Case Study," GREDEG Working Papers 2019-09, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.

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    More about this item

    JEL classification:

    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • B26 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Financial Economics

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