- List of Figures
- List of Tables
- Global Finance And Its Institutional Spaces
- Politics And Financial Markets
- Finance And Institutional Investors
- Business Groups And Financial Markets As Emergent Phenomena
- Central Banking And The Triumph Of Technical Rationality
- What is a financial market? Global markets as microinstitutional and post-traditional social forms
- Auctions And Finance
- Interactions And Decisions In Trading
- Traders And Market Morality
- The Material Sociology Of Arbitrage
- Seeing Through The Eyes Of Others: Dissonance Within And Across Trading Rooms
- Market Efficiency: A Sociological Perspective
- Financial Analysts
- Rating Agencies
- Accounting And Finance
- The International Monetary Regime And Domestic Political Economy: The Origin Of The Global Financial Crisis
- A Long Strange Trip: The State And Mortgage Securitization, 1968–2010
- Dead Pledges: Mortgaging Time And Space
- Financial Crises As Symbols And Rituals
- The Sociology Of Financial Fraud
- The Disunity Of Finance: Alternative Practices To Western Finance
- Islamic Banking And Finance: Alternative Or Façade?
- Geographies Of Finance: The State-Enterprise Clusters Of China
- The Financialization Of Art
- Historical Sociology Of Modern Finance
- Gender And Finance
- The Role Of Confidence In Finance
- Finance In Modern Economic Thought
- Financial Automation, Past, Present, And Future
Abstract and Keywords
This article reviews recent empirical studies in order to address the questions: What is sociology's specific contribution to the study of decision-making in financial trading, and how can it gain a distinct voice in the conversation with behavioural economics and experimental game theory? It begins with an argument about the importance of studying the interaction order. It then provides an overview of the relevant sociological and game-theoretical concepts, and shows how the study of interactions provides sociologists with genuine analytical tools. It narrows down the focus to cognition and emotions; judgment and valuation; and use of models. It mobilizes recent empirical studies, highlighting how the sociology of interactions has dealt with these issues, and how sociological solutions contribute to understanding the issue of decision-making. Finally, it investigates how a sociological research program on trading interactions can be developed and sustained as a meaningful body of research.
Alex Preda is Professor of Accounting, Accountability, and Financial Management in the Department of Management at King's College London. He is the author of, among others, Framing Finance: The Boundaries of Markets and Modern Capitalism (2009) and Information, Knowledge and Economic Life: An Introduction to the Sociology of Markets (2009). He is currently writing an ethnography of electronic financial markets. His present research interests are communication and decision making, the valuation of persons, and social competitions.
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