However, perhaps the Black-Scholes-Merton model succeeded because it was simply the right way. [causal]

    However, perhaps the Black-Scholes-Merton model succeeded because it was simply the right way. [causal]
  

However, perhaps the Black-Scholes-Merton model succeeded because it was simply the right way to price options, but market participants learned that only slowly, with their markets only gradually becoming efficient? If that were so, "Barnesian performativity" would be an empty gloss on a process that could better be described in simpler, more conventional terms.
Donald MacKenzie, An Engine, Not a Camera, loc. 149