Electronic Resource

Article - The active construction of passive investors: roboadvisors and algorithmic ‘low-finance’ Vol. 0, No. 0, 1–28

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How does algorithmic finance operate in society as it crosses the threshold into
the hands of lay investors? This article builds on original ethnographic research
into a new class of algorithmic trading programs known as ‘roboadvisors’—
inexpensive, automated, digital financial platforms that enable ordinary people to

invest very small minimum amounts and that rely to a large extent on passive, in-
dex strategies that follow the prescripts of Modern Portfolio Theory. The main ar-
gument of the article is that roboadvisors, representing an ethos of ‘low-finance’,

are actively constructing passive investors by disciplining them through technolo-
gies that embody canonical models of financial economics. Roboadvisors and

their algorithms reconfigure their users and objectify them through automating in-
vestment decisions and enforcing a principle of ‘don’t do’ vis-a` -vis the market.

Implications that bear on agency, market structure and regulatory regimes are
discussed.

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Ketersediaan

Informasi Detail

Judul Seri

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No. Panggil

332.60285 HAY a

Penerbit

: Oxford University Press., 2021

Deskripsi Fisik

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Bahasa

English

ISBN/ISSN

1475-147X

Klasifikasi

332.60285 HAY a

Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

Vol. 0, No. 0, 1–28

Subjek

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Info Detail Spesifik

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Pernyataan Tanggungjawab

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Versi lain/terkait

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