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Understanding Financial Market Actors' Decision-Making: A Sociological Perspective

Explore the intersection of efficient market theory, behavioral finance, and sociology in financial markets. Analyze the role of beliefs, expectations, and cultural framing in shaping market forecasts. Contact Prof. Dr. Klaus Kraemer for insights.

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Understanding Financial Market Actors' Decision-Making: A Sociological Perspective

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  1. Entscheidungsverhalten von Finanzmarktakteuren – eine soziologische Betrachtung Klaus Kraemer AWG – Austrian Working Group on Banking and Finance Graz, 26/27.11.2010

  2. 1. Efficient market theory / Portfolie theory 2. Behavioral finance 3. Sociology of financial markets: „expectations of expectations“ 4. Isomorphistic expectations 5. Divergent expectations • Belief in profitability as a social process:The role of ideas - personal charisma vs. charismatic idea - new cultural framing of market forecast - non-economic idea provides the vehicle for the economic forecast

  3. Cover of Meeker & DePuy's landmark 1995 report

  4. 1. Efficient market theory / Portfolie theory 2. Behavioral finance 3. Sociology of financial markets: „expectations of expectations“ 4. Isomorphistic expectations 5. Divergent expectations • Belief in profitability as a social process:The role of ideas - personal charisma vs. charismatic idea - new cultural framing of market forecast - non-economic idea provides the vehicle for the economic forecast 7. Social cycle of belief in profitability

  5. Social cycle of belief in profitability

  6. Kontakt Univ.-Prof. Dr. Klaus KraemerInstitut für SoziologieKarl-Franzens-Universität GrazUniversitätsstraße 15/G48010 Grazwww.uni-graz.at/sozwww/ klaus.kraemer@uni-graz.at

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