IDEAS home Printed from https://ideas.repec.org/a/taf/cnpexx/v22y2017i2p219-236.html
   My bibliography  Save this article

Big Data and algorithmic governance: the case of financial practices

Author

Listed:
  • Malcolm Campbell-Verduyn
  • Marcel Goguen
  • Tony Porter

Abstract

Big Data and algorithmic governance are transforming traditional institutions and media of transnational governance in manners that hold important implications for power, accountability and effectiveness. Drawing on actor-network theory, this paper contrasts utopian or dystopian views on the increasing presence of Big Data in contemporary financial practices. We scrutinise the emerging impacts of Big Data in the public governance of private banks in the Basel III arrangements, private governance of individual actors in credit scoring and anarchic competitive governance of markets in high-frequency trading. Our findings reveal varied and emergent forms of governance through, with and by algorithms.

Suggested Citation

  • Malcolm Campbell-Verduyn & Marcel Goguen & Tony Porter, 2017. "Big Data and algorithmic governance: the case of financial practices," New Political Economy, Taylor & Francis Journals, vol. 22(2), pages 219-236, March.
    • Handle: RePEc:taf:cnpexx:v:22:y:2017:i:2:p:219-236
    DOI: 10.1080/13563467.2016.1216533
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/13563467.2016.1216533
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/13563467.2016.1216533?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Donald MacKenzie, 2008. "An Engine, Not a Camera: How Financial Models Shape Markets," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262633671, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Li, Yibei & Wang, Ximei & Djehiche, Boualem & Hu, Xiaoming, 2020. "Credit scoring by incorporating dynamic networked information," European Journal of Operational Research, Elsevier, vol. 286(3), pages 1103-1112.
    2. Paraná, Edemilson, 2024. "AI as financial infrastructure?," SocArXiv ub92z, Center for Open Science.
    3. Paulo Ferreira & Éder J.A.L. Pereira & Hernane B.B. Pereira, 2020. "From Big Data to Econophysics and Its Use to Explain Complex Phenomena," JRFM, MDPI, vol. 13(7), pages 1-10, July.
    4. Ali Bhagat & Leanne Roderick, 2020. "Banking on refugees: Racialized expropriation in the fintech era," Environment and Planning A, , vol. 52(8), pages 1498-1515, November.
    5. Daria Gritsenko & Matthew Wood, 2022. "Algorithmic governance: A modes of governance approach," Regulation & Governance, John Wiley & Sons, vol. 16(1), pages 45-62, January.
    6. Nick Bernards, 2019. "Tracing mutations of neoliberal development governance: ‘Fintech’, failure and the politics of marketization," Environment and Planning A, , vol. 51(7), pages 1442-1459, October.
    7. Michael Carolan, 2020. "Acting like an algorithm: digital farming platforms and the trajectories they (need not) lock-in," Agriculture and Human Values, Springer;The Agriculture, Food, & Human Values Society (AFHVS), vol. 37(4), pages 1041-1053, December.
    8. Tiina Koskelainen & Panu Kalmi & Eusebio Scornavacca & Tero Vartiainen, 2023. "Financial literacy in the digital age—A research agenda," Journal of Consumer Affairs, Wiley Blackwell, vol. 57(1), pages 507-528, January.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. William R. Morgan, 2023. "Finance Must Be Defended: Cybernetics, Neoliberalism and Environmental, Social, and Governance (ESG)," Sustainability, MDPI, vol. 15(4), pages 1-21, February.
    2. Thomas Delcey, 2019. "Samuelson vs Fama on the Efficient Market Hypothesis: The Point of View of Expertise [Samuelson vs Fama sur l’efficience informationnelle des marchés financiers : le point de vue de l’expertise]," Post-Print hal-01618347, HAL.
    3. Bronk, Richard & Jacoby, Wade, 2016. "Uncertainty and the dangers of monocultures in regulation, analysis, and practice," MPIfG Discussion Paper 16/6, Max Planck Institute for the Study of Societies.
    4. Wolf, Marcus, 2018. "Ain't misbehaving: Behavioral economics and the making of financial literacy," economic sociology. perspectives and conversations, Max Planck Institute for the Study of Societies, vol. 19(2), pages 10-18.
    5. Matthew Henry & Christopher Rosin & Sarah Edwards, 2023. "Governing taste: data, temporality and everyday kiwifruit dry matter performances," Agriculture and Human Values, Springer;The Agriculture, Food, & Human Values Society (AFHVS), vol. 40(2), pages 519-531, June.
    6. Martin, Ulf, 2018. "The autocatalytic sprawl of pseudorational mastery (version 0.12)," Working Papers on Capital as Power 2018/04, Capital As Power - Toward a New Cosmology of Capitalism.
    7. Scott, Susan V., 2010. "Understanding the characteristics of techno-innovation in an era of self-regulated financial services," LSE Research Online Documents on Economics 37867, London School of Economics and Political Science, LSE Library.
    8. Christian Berndt & Norma M. Rantisi & Jamie Peck, 2020. "M/market frontiers," Environment and Planning A, , vol. 52(1), pages 14-26, February.
    9. Gilles Saint-Paul, 2013. "Economic Science And Political Influence," Journal of the European Economic Association, European Economic Association, vol. 11(5), pages 1004-1031, October.
    10. Becker, Kai Helge, 2016. "An outlook on behavioural OR – Three tasks, three pitfalls, one definition," European Journal of Operational Research, Elsevier, vol. 249(3), pages 806-815.
    11. Timothy C. Johnson, 2013. "Reciprocity as the foundation of Financial Economics," Papers 1310.2798, arXiv.org.
    12. Navya Pandit & Constantin Prox & Carliss Y. Baldwin, 2022. "Studying modular design: an interview with Carliss Y. Baldwin," Journal of Organization Design, Springer;Organizational Design Community, vol. 11(2), pages 77-85, June.
    13. Erich Pinzón-Fuchs, 2016. "Macroeconometric modeling as a "photographic description of reality" or as an "engine for the discovery of concrete truth" ? Friedman and Klein on statistical illusions," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01364812, HAL.
    14. Martin, Ulf, 2019. "The Autocatalytic Sprawl of Pseudorational Mastery," Review of Capital as Power, Capital As Power - Toward a New Cosmology of Capitalism, vol. 1(4), pages 1-30.
    15. Timothy C. Johnson, 2012. "Ethics and Finance: the role of mathematics," Papers 1210.5390, arXiv.org.
    16. Erin Lockwood, 2015. "Predicting the unpredictable: Value-at-risk, performativity, and the politics of financial uncertainty," Review of International Political Economy, Taylor & Francis Journals, vol. 22(4), pages 719-756, August.
    17. Tweedie, Jonathan, 2023. "The emancipatory potential of counter accounting: A Žižekian critique," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 95(C).
    18. Czarniawska, Barbara, 2016. "Performativity of social sciences as seen by an organization scholar," European Management Journal, Elsevier, vol. 34(4), pages 315-318.
    19. Hutter, Michael, 2021. "Three Modes of Valuation Practices in Art Games," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 8(1), pages 85-119.
    20. Ben Fine, 2017. "The material and culture of financialisation," New Political Economy, Taylor & Francis Journals, vol. 22(4), pages 371-382, July.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:cnpexx:v:22:y:2017:i:2:p:219-236. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/cnpe20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.