Title: Gaming the system

Authors: Thomas Bay, Ulrika Sjodin, Elton G. McGoun

Addresses: Stockholm University, School of Business, S-109 91 Stockholm, Sweden. ' Stockholm University, School of Business, S-109 91 Stockholm, Sweden. ' Bucknell University, 701 Moore Avenue, Lewisburg, PA 17837, USA

Abstract: This paper explores whether financial markets are games, using exchange traded derivatives, those quintessential speculative instruments, as the primary vehicle. The phrase |gaming the system| usually means taking advantage of the system; that is to say, specifically turning something performing a productive social function to one|s own enjoyable ends. But |gaming the system| can also mean generally transforming a system with productive purposes into one whose purpose is enjoyment. Some might say that this is just what has occurred in recent years to financial markets with the explosion in derivatives.

Keywords: critical finance studies; gaming; financial markets; speculation; derivatives; work; play; enjoyment; games.

DOI: 10.1504/IJCA.2011.039602

International Journal of Critical Accounting, 2011 Vol.3 No.1, pp.5 - 17

Published online: 21 Oct 2014 *

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