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The representations of chance and the financial crisis of 2008: the chance that kills

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  • Christian Walter

    (LAP - Laboratoire d’anthropologie politique – Approches interdisciplinaires et critiques des mondes contemporains, UMR 8177 - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique)

Abstract

If the crisis of 2008 has revealed a failure of the organizational model of finance and of the operating scheme of the funding of the economy, another failure has also existed, albeit less apparent, that of a mental model translating representations of chance into mathematical hypotheses on financial risk. The two models are linked insofar as specific mental choices about the representation of chance have led to particular organizational choices, attitudes towards uncertainty and ways of acting whose damaging consequences are precisely those that the international community has tried to remedy. It is therefore to an understanding of the role played by representations of chance in the triggering of the 2008 crisis that this appendix to this chapter invites us.

Suggested Citation

  • Christian Walter, 2024. "The representations of chance and the financial crisis of 2008: the chance that kills," Post-Print hal-04702850, HAL.
    • Handle: RePEc:hal:journl:hal-04702850
    Note: View the original document on HAL open archive server: https://hal.science/hal-04702850v1
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