Performativity of economics: meaning, scope, and limits

• Grant number: 23/16923-2
• Support Opportunities: Scholarships in Brazil - Doctorate
• Start date: September 01, 2024
• End date: February 28, 2027
• Field of knowledge: Applied Social Sciences - Economics
• Principal Investigator: David Dequech Filho
• Grantee: Jonas Teixeira Couto Campos
• Host Institution: Instituto de Economia (IE). Universidade Estadual de Campinas (UNICAMP). Campinas , SP, Brazil

Abstract

The subject of this research proposal is the performativity of economics, which is at the intersection of two debates: one on the possibility of self-fulfilling or reflexive prophecies; the other on the relationship between economics and the economy. The idea of performativity refers to economics' capacity to affect the economy and, in a much stronger sense, to bring the economy closer to its description by economics. Our main goal is to examine the meaning, scope, and limits of the performativity of economics. First, we will investigate the relations between performativity, self-fulfilling prophecies, and reflexive predictions, proposing an approach to the realization of representations with four fundamental elements: a representation; the latter's initial condition, before it affects the economy; the process of realization; and the criteria of epistemic success at the end of the process. Second, we will examine the relationship between performativity and conventions, showing that approaches to performativity based on Lewis' concept of convention are too restrictive and proposing an approach with a significantly higher degree of generality. Third, we will analyze Callon's hypothesis about what we will call the barnesian performativity of neoclassical economics, showing its scope and limits, based on various matters regarding homo economicus and the utility maximization hypothesis, and criticizing the idea of a dissolution of the distinction between economics and the economy.