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Resumo

This article examines the performative role of market technologies in the production of prices. It argues against the widespread notion of price discovery and suggests instead a notion of price construction. Drawing on a range of examples, from the trading pits of futures markets to the information systems of electronic exchanges, the article shows how market devices shape the practical conditions of possibility for price formation. It also explores the material and public character of prices, and the ways in which they become implicated in the distributed cognition of market participants. Finally, the article suggests that the pragmatics of price construction are best understood in terms of a performative approach to market technologies.

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