Market conversations do not convey information but perform trades.

Evidence

Traders perform market transactions through conversations, as they themselves call their global interactions, and the important point is that these sequences of utterances do not just convey information but perform economic actions. A condition for the emergence of response-presence–based social forms, which are not “chat clubs” separated from the conduct of business but include these affairs, would seem to be that the transactions that compose the domain are performative (i.e., action performing, see Austin 1962) but dematerialized, which means that they can be accomplished symbolically through, for example, communication structures such as those identified with microsocial situations. — Karin Knorr Cetina & Urs Bruegger, Global Microstructures, 29

Categorization

• XREF: Austin’s performative utterance theory applied to trading—connects to Callon’s performativity of economics and the reader’s broader financialization literature. — connects to: Market conversations do not merely transmit information but perform the economic action itself — Karin Knorr Cetina & Urs Bruegger, Global Microstructures: The Virtual…, 29; In global spot trading, talk sustains order rather than negotiating outcomes. — Karin Knorr Cetina & Urs Bruegger, Global Microstructures: The Virtual…, 124; Screen-based trading conversations forbid price negotiation entirely. — Karin Knorr Cetina & Urs Bruegger, Global Microstructures: The Virtual…, 114 (+5 more)

Related

• Market conversations do not merely transmit information but perform the economic action itself (similarity 0.92)
• Conversation itself is the instrument of global interbank exchange. (similarity 0.87)
• In global spot trading, talk sustains order rather than negotiating outcomes. (similarity 0.86)
• Screen-based trading conversations forbid price negotiation entirely. (similarity 0.80)
• Markets operate as processual social systems shaped by trader practice, knowledge, and globality (similarity 0.78)

Broader Connections

• Market conversations do not merely transmit information but perform the economic action itself #corroborates (0.98) — Karin Knorr Cetina & Urs Bruegger, Global Microstructures, 29
• In global spot trading, talk sustains order rather than negotiating outcomes. #exemplifies (0.90) — Karin Knorr Cetina & Urs Bruegger, Global Microstructures, 124
• Screen-based trading conversations forbid price negotiation entirely. #exemplifies (0.85) — Karin Knorr Cetina & Urs Bruegger, Global Microstructures, 114
• Trading-floor talk is dominated by dealing and information exchanges. #contradicts (0.85) — Karin Knorr Cetina & Urs Bruegger, Global Microstructures, 57
• Trustworthiness cannot be communicated as objective market information. #qualifies (0.85) — Lisa Bernestein, Opting out of the Legal System, 135
• Moves carry evidential weight that cheap talk cannot convey #contradicts (0.75) — Thomas C. Schelling, The Strategy of Conflict, 282
• Currency trading conversations unfold as challenge-engagement-repositioning sequences #complicates (0.75) — Karin Knorr Cetina & Urs Bruegger, Global Microstructures, 108