Keenly priced options in their turn helped the new U.S. options exchanges of the 1970s to grow, to prosper, and to become more efficient, rather than to falter as their predecessors had. Since the Black-Scholes-Merton analysis posits a liquid, zero-transaction-cost options market, this would again be an effect of the model that was performative in the Barnesian sense.

Donald MacKenzie, An Engine, Not a Camera, loc. 1158