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Uncertainty, Conventional Behavior, and Economic Sociology
Author(s) -
Bibow Jörg,
Lewis Paul,
Runde Jochen
Publication year - 2005
Publication title -
american journal of economics and sociology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.199
H-Index - 38
eISSN - 1536-7150
pISSN - 0002-9246
DOI - 10.1111/j.1536-7150.2005.00377.x
Subject(s) - conceptualization , economic sociology , boom , argument (complex analysis) , positive economics , agency (philosophy) , sociology , stock market , economics , economic analysis , stock (firearms) , epistemology , social science , financial economics , neoclassical economics , classical economics , philosophy , history , engineering , linguistics , context (archaeology) , archaeology , biochemistry , chemistry , environmental engineering
A bstract This paper addresses the problem of the conceptualization of social structure and its relationship to human agency in economic sociology. The background is provided by John Maynard Keynes's writings on uncertainty and conventional behavior on the stock market, and the analysis consists of a comparison of the social ontologies of the French Intersubjectivist School and the Economics as Social Theory Project in the light of these observations. The theoretical argument is illustrated with concrete examples from a prominent study of the stock market boom of the 1990s.