Jamal Awil

← An Engine, Not a Camera

Most such formulas could not do so, at least other than temporarily. [contrarian]

It is emphatically not my intention to imply that in respect to finance theory. For example, to say of Black-Scholes-Merton option-pricing theory that it was "performative" in the Barnesian sense is not to make the crude claim that any arbitrary formula for option prices, if proposed by sufficiently authoritative people, could have "made itself true" by being adopted. Most such formulas could not do so, at least other than temporarily.

Donald MacKenzie, An Engine, Not a Camera, loc. 96