introduction to the social studies of finance 03-2009

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How can the social studies of finance help us to understand financial markets? Erica Coslor Doctoral Candidate, University of Chicago, Department of Sociology

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Page 1: Introduction to the Social Studies Of Finance 03-2009

How can the social studies of finance help us to understand financial markets?Erica CoslorDoctoral Candidate, University of Chicago, Department of Sociology

Page 2: Introduction to the Social Studies Of Finance 03-2009

The Chaos of Finance

Andreas Gursky Chicago Board of Trade II (1999)

Page 3: Introduction to the Social Studies Of Finance 03-2009

… To Our Current Financial Crisis

Page 4: Introduction to the Social Studies Of Finance 03-2009

Traders and Emotion

Page 5: Introduction to the Social Studies Of Finance 03-2009

Shaping Technologies

Stock Ticker

Bloomberg Terminal

Page 6: Introduction to the Social Studies Of Finance 03-2009

Emptying of the Pits

Page 7: Introduction to the Social Studies Of Finance 03-2009

Rise of the Screen

Page 8: Introduction to the Social Studies Of Finance 03-2009

Life on Screens

Reuters Screen

FTSE Screen

Page 9: Introduction to the Social Studies Of Finance 03-2009

Global Assemblages

Blaylock Direct Market Access System

Page 10: Introduction to the Social Studies Of Finance 03-2009

Communities of Time

24 hour trading in financial markets

Page 11: Introduction to the Social Studies Of Finance 03-2009

Important ModelsThe FICO™ Score

Page 12: Introduction to the Social Studies Of Finance 03-2009

Implications

• Financial markets are complex socio-technical systems

• Technologies, market devices and assemblages matter

• We need to take a closer look inside the models…

• AND see how they relate to people, organizations, and machines