MacKenzie, D. (2006). An Engine, Not a Camera: How Financial Models Shape Markets. Cambridge, MA: The MIT Press. doi:10.7551/mitpress/9780262134606.001.0001.
Not read. The summary is drawn from the publisher’s abstract and from what the work is standardly cited for. A reading should check it first.
Why this is here
CLAIM-426 says a judgement’s circulation can be evidence of what it helps bring about. This book is the serious empirical treatment of that for one domain, and it also has the opposite case the claim must allow for: counterperformativity, where acting on a model makes it less true. The publisher’s abstract: “the emergence of an authoritative theory of financial markets altered those markets fundamentally.” It is nearer to the record’s existing reading of reactivity in Espeland and Sauder (LIT-1330) than to the CCRU’s hyperstition (LIT-1396), which names the same loop as a programme.