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‘This could be our reality in the next five to ten years’: a blogpost platform as an expectation generation device on the future of insurance markets

‘This could be our reality in the next five to ten years’: a blogpost platform as an expectation... William James (1919) characterises hypotheses as either live or dead. A hypothesis is live when it is taken into account as a ‘real possibility’. We follow James’ suggestion to not attribute intrinsic properties to hypotheses, but rather investigate how they came into being and look at the effects they generate. Expectations of digital technologies are a topic of vivid debate in the insurance industry. Before these expectations can become ‘live’, they have, in the first place, to be generated by market devices. We investigate how the reinsurance blogpost platform Open Minds functions as an ‘expectation generation device’ on the future of insurance markets. Combining Beckert’s work on the role of fictional expectations with the pragmatist turn in sociology of markets, we propose to study ‘expectation generation devices’, provoking expectations on economic markets. In our empirical analysis, we demonstrate the explicit fictional character of the Open Minds contributions, and analyse how a contained space of openness is generated to provoke expectations. We demonstrate how Open Minds can become live through circulation to other expectation generation sites in the insurance industry and beyond. We conclude by reflecting on the importance of expectation generation devices as a particular type of market devices. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Cultural Economy Taylor & Francis

‘This could be our reality in the next five to ten years’: a blogpost platform as an expectation generation device on the future of insurance markets

Journal of Cultural Economy , Volume 11 (2): 16 – Mar 4, 2018

‘This could be our reality in the next five to ten years’: a blogpost platform as an expectation generation device on the future of insurance markets

Journal of Cultural Economy , Volume 11 (2): 16 – Mar 4, 2018

Abstract

William James (1919) characterises hypotheses as either live or dead. A hypothesis is live when it is taken into account as a ‘real possibility’. We follow James’ suggestion to not attribute intrinsic properties to hypotheses, but rather investigate how they came into being and look at the effects they generate. Expectations of digital technologies are a topic of vivid debate in the insurance industry. Before these expectations can become ‘live’, they have, in the first place, to be generated by market devices. We investigate how the reinsurance blogpost platform Open Minds functions as an ‘expectation generation device’ on the future of insurance markets. Combining Beckert’s work on the role of fictional expectations with the pragmatist turn in sociology of markets, we propose to study ‘expectation generation devices’, provoking expectations on economic markets. In our empirical analysis, we demonstrate the explicit fictional character of the Open Minds contributions, and analyse how a contained space of openness is generated to provoke expectations. We demonstrate how Open Minds can become live through circulation to other expectation generation sites in the insurance industry and beyond. We conclude by reflecting on the importance of expectation generation devices as a particular type of market devices.

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References (63)

Publisher
Taylor & Francis
Copyright
© 2018 Informa UK Limited, trading as Taylor & Francis Group
ISSN
1753-0369
eISSN
1753-0350
DOI
10.1080/17530350.2017.1418408
Publisher site
See Article on Publisher Site

Abstract

William James (1919) characterises hypotheses as either live or dead. A hypothesis is live when it is taken into account as a ‘real possibility’. We follow James’ suggestion to not attribute intrinsic properties to hypotheses, but rather investigate how they came into being and look at the effects they generate. Expectations of digital technologies are a topic of vivid debate in the insurance industry. Before these expectations can become ‘live’, they have, in the first place, to be generated by market devices. We investigate how the reinsurance blogpost platform Open Minds functions as an ‘expectation generation device’ on the future of insurance markets. Combining Beckert’s work on the role of fictional expectations with the pragmatist turn in sociology of markets, we propose to study ‘expectation generation devices’, provoking expectations on economic markets. In our empirical analysis, we demonstrate the explicit fictional character of the Open Minds contributions, and analyse how a contained space of openness is generated to provoke expectations. We demonstrate how Open Minds can become live through circulation to other expectation generation sites in the insurance industry and beyond. We conclude by reflecting on the importance of expectation generation devices as a particular type of market devices.

Journal

Journal of Cultural EconomyTaylor & Francis

Published: Mar 4, 2018

Keywords: Fictional expectations; insurance; new digital technologies; market devices; pragmatism

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