The Resource Making markets : opportunism and restraint on Wall Street, Mitchel Y. Abolafia

Making markets : opportunism and restraint on Wall Street, Mitchel Y. Abolafia

Label
Making markets : opportunism and restraint on Wall Street
Title
Making markets
Title remainder
opportunism and restraint on Wall Street
Statement of responsibility
Mitchel Y. Abolafia
Creator
Subject
Language
eng
Summary
  • Making Markets, an ethnography of Wall Street culture, offers a more complex picture of how the market and its denizens work. Not merely masses of individuals striving independently, markets appear here as socially constructed institutions in which the behavior of traders is suspended in a web of customs, norms, and structures of control. Within these structures we see the actions that led to the Drexel Burnham and Salomon Brothers debacles not as bizarre aberrations, but as mere exaggerations of behavior accepted on the Street
  • Mitchel Abolafia looks at three subcultures that co-exist in the world of Wall Street: the stock, bond, futures markets. Through interviews, anecdotes, and the author's skillful analysis, we see how traders and New York Stock Exchange specialists negotiate the perpetual tension between short-term self-interest and long-term self-restraint that marks their respective communities - and how the temptation toward excess spurs market activity. We also see the complex relationships among those market communities - why, for instance, NYSE specialists resent the freedoms permitted over-the-counter bond traders and futures traders. Making Markets shows us that what propels Wall Street is not a fundamental human drive or instinct, but strategies enacted in the context of social relationships, cultural idioms, and institutions - a cycle that moves between phases of unbridled self-interest and collective self-restraint
Cataloging source
DLC
http://library.link/vocab/creatorName
Abolafia, Mitchel
Dewey number
332.64
Illustrations
illustrations
Index
index present
LC call number
HG6024.3
LC item number
.A26 1996
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/subjectName
  • Financial futures
  • Bond market
  • Stock exchanges
Label
Making markets : opportunism and restraint on Wall Street, Mitchel Y. Abolafia
Instantiates
Publication
Bibliography note
Includes bibliographical references (p. [195]-211) and index
Contents
Introduction: Market Makers on Wall Street -- 1. Homo Economicus Unbound: Bond Traders on Wall Street -- 2. Structured Anarchy: Formal and Informal Organization in the Futures Market -- 3. Taming the Market: Conflict Resolution among Market Makers -- 4. Responding to External Threats -- 5. Homo Economicus Restrained: Identity and Control at the New York Stock Exchange -- 6. Coping with the Threat of Extinction -- 7. Opportunism and Innovation: An Interpretation of the Milken Drama -- 8. Cycles of Opportunism: Profits, Prudence, and the Public Interest
Dimensions
24 cm.
Extent
ix, 216 p.
Isbn
9780674543249
Isbn Type
(cloth : alk. paper)
Lccn
96020665
Other physical details
ill.
System control number
  • (CaMWU)u994548-01umb_inst
  • (Sirsi) AJW-5059
  • ltsw0163512
  • (OCoLC)34772133
Label
Making markets : opportunism and restraint on Wall Street, Mitchel Y. Abolafia
Publication
Bibliography note
Includes bibliographical references (p. [195]-211) and index
Contents
Introduction: Market Makers on Wall Street -- 1. Homo Economicus Unbound: Bond Traders on Wall Street -- 2. Structured Anarchy: Formal and Informal Organization in the Futures Market -- 3. Taming the Market: Conflict Resolution among Market Makers -- 4. Responding to External Threats -- 5. Homo Economicus Restrained: Identity and Control at the New York Stock Exchange -- 6. Coping with the Threat of Extinction -- 7. Opportunism and Innovation: An Interpretation of the Milken Drama -- 8. Cycles of Opportunism: Profits, Prudence, and the Public Interest
Dimensions
24 cm.
Extent
ix, 216 p.
Isbn
9780674543249
Isbn Type
(cloth : alk. paper)
Lccn
96020665
Other physical details
ill.
System control number
  • (CaMWU)u994548-01umb_inst
  • (Sirsi) AJW-5059
  • ltsw0163512
  • (OCoLC)34772133

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