Market-making research: a theoretical systematization

Abstract

The market-making studies propose a singular approach to markets based on the search to explain the formation and functioning of markets from a performative perspective. Considering actors, their actions and tools, markets are constituted and programmed to operate in a given way, and the purpose of the proposed theoretical model is to observe what these elements are and how they interact in a social context so that this given functioning in fact occurs. Because there is a dense literature on the topic, understanding all of its concepts and premises can be challenging. Thus, two market analysis perspectives are exposed: (i) translational, which observes how markets evolve as a structure, and (ii) inscriptionary, aimed at understanding how market practices transpose from a market actor’s point of view to another.