The Power of Expectations

Beckert, Jens

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The Power of Expectations

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Beckert, Jens
Soziologie des Marktes, MPI for the Study of Societies, Max Planck Society;

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https://www.mpg.de/13362062/W001_Viewpoint_010-015.pdf
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http://hdl.handle.net/21.11116/0000-0003-1139-A
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mpifg_zs19_10.pdf
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Citation

Beckert, J. (2019). The Power of Expectations. MaxPlanckResearch, (1), 10-15.

Cite as: https://hdl.handle.net/21.11116/0000-0003-87AF-0

Abstract

Advertising tells us that wishes really can come true. With the right deodorant, anyone
can be a cool guy. The new yogurt is guaranteed to make you slim. Paradise is waiting
for you at the seaside resort. It is well known that advertisements tell fictional stories
designed to arouse the expectation that the product in question is going to make us cool,
slim, or feel rested and refreshed. Our author explains that the economic system as such
functions in a very similar way. Stories play an equally vital role in the seemingly rational world of investors and analysts.