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Article dans une revue Historical Social Research / Historische Sozialforschung Année : 2016

Die drei Perioden der finanztechnischen Quantifizierung: ein kon-ventionentheoretischer Ansatz zur Analyse der finanztechnischen Metrologie

The Three Ages of Financial Quantification: A Conventionalist Approach to the Financiers’ Metrology

Les trois périodes de la quantification financière : une perspective conventionnaliste sur la métrologie des financiers

Résumé

This article presents a conventionalist interpretation of the financialization of the economy. We define three periods, each one associated with conventional calculation systems that may shape investment decisions. Each of these periods begins with the adoption by financial practitioners of a new “convention” to make investment decisions: the actuarial convention at the end of the 19th century, the mean-variance convention during the 1970s, and the market-consistent convention since the 1990s. These conventions are rooted in finance theory developments and are associated with different financing circuits for economic activity. When a new convention arises, it does not mean the disappearance of the old one, which can still be used by some practitioners for certain given matters, but it can also redefine some financial professions by fragmenting them according to the convention followed, and it can finally also give rise to new professions.
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Dates et versions

halshs-04503477, version 1 (13-03-2024)

Licence

Paternité - Pas d'utilisation commerciale - Pas de modification - CC BY 4.0

Identifiants

Citer

Eve Chiapello, Christian Walter. The Three Ages of Financial Quantification: A Conventionalist Approach to the Financiers’ Metrology. Historical Social Research / Historische Sozialforschung, 2016, Conventions and quantification in economy, politics and statistics - historical perspectives, 41 (2), pp.7-26. ⟨10.12759/hsr.41.2016.2.155-177⟩. ⟨halshs-04503477⟩
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Dernière date de mise à jour le 07/04/2024
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