Abstract

http://ssrn.com/abstract=2178892
 


 



Financial Markets are Markets in Stories: Some Possible Advantages of Using Interviews to Supplement Existing Economic Data Sources


David Tuckett


University College London (UCL)

November 21, 2012

Journal of Economic Dynamics and Control, Vol. 36, No. 8, 2012

Abstract:     
Fifty-two research interviews were conducted with money managers controlling over $500 billion. This paper presents detailed material from one interview to argue interviews usefully describe their shared reality and provide information about the conditions of action facing financial decision-makers with implications for aggregate behavior. Their shared reality was dominated by 'radical' uncertainty and information ambiguity which severely limited the scope for 'fully rational' decision-making. How they managed to commit to decisions was by creating narratives. The study suggests it may be useful to reconsider prejudices against the usefulness of talking to individual economic agents about what they actually do.

Keywords: financial markets, interviews, economic methodology, narrative, uncertainty

JEL Classification: B4, G1

Accepted Paper Series


Not Available For Download

Date posted: November 21, 2012  

Suggested Citation

Tuckett, David, Financial Markets are Markets in Stories: Some Possible Advantages of Using Interviews to Supplement Existing Economic Data Sources (November 21, 2012). Journal of Economic Dynamics and Control, Vol. 36, No. 8, 2012. Available at SSRN: http://ssrn.com/abstract=2178892

Contact Information

David Tuckett (Contact Author)
University College London (UCL) ( email )
Gower Street
London, WC1E 7HU
United Kingdom
HOME PAGE: http://www.ucl.ac.uk/psychoanalysis/unit-staff/david.htm
Feedback to SSRN


Paper statistics
Abstract Views: 89

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo7 in 0.407 seconds