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An Engine, Not a CameraHow Financial Models Shape Markets$
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Donald Mackenzie

Print publication date: 2006

Print ISBN-13: 9780262134606

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262134606.001.0001

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PRINTED FROM MIT PRESS SCHOLARSHIP ONLINE (www.mitpress.universitypressscholarship.com). (c) Copyright The MIT Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in MITSO for personal use.date: 04 March 2021

Performing Theory?

Performing Theory?

(p.1) 1 Performing Theory?
An Engine, Not a Camera

Donald MacKenzie

The MIT Press

This chapter provides information about the changes introduced in stock markets across the United States after the financial crisis of 1987 with increased emphasis on trading derivatives of stocks and other financial assets in place of stocks only. Derivatives started trading on the U.S. stock markets in the 1970s with a minor share, but gained popularity among share traders and stock brokers after the financial crisis of 1987. The chapter also focuses on exploring the emergence of modern economic theories of financial markets in the United States and other countries. These theories were mainly based on financial economics, which was composed of the mathematical models of markets.

Keywords:   stock market, financial crisis, derivatives, stocks, financial economics

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