ABSTRACT
This chapter represents the way in which the theoretical condition of self-fulfilment, participating in the reader conventionalist definition of performativity, makes it possible to better understand performativity in different contexts. The study by Donald MacKenzie and Yuval Millo, "Constructing a market, performing theory: the historical sociology of a financial derivatives exchange", which highlights the crucial role of financial theories in the constitution of financial markets, can be regarded as the foundation of this series of works. MacKenzie and Millo’s reasoning assumes that as long as the set of individual representations follows the particular representation of price variations, then financial phenomena will conform to this representation. Faced with the emergence of a belief to amend the Black-Scholes-Merton model, namely the smile of volatility, MacKenzie and Millo conclude with a reversal of the performative phenomenon: the financial representation phenomenon that supports a particular theory succeeds a phase of "counterperformativity".
