Phantastic objects and the financial market’s sense of reality: A psychoanalytic contribution to the understanding of stock market instability
Phantastic objects and the financial market’s sense of reality: A psychoanalytic contribution to the understanding of stock market instability
复制标题
幻想物体和金融市场的现实感：精神分析对理解股市不稳定的贡献
DOI：
10.1111/j.1745-8315.2008.00040.x
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发表时间：
2008
期刊：
影响因子：
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通讯作者：
R. Taffler
中科院分区：
文献类型：
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作者：
D. Tuckett;R. Taffler
本文旨在探讨基于临床经验的标准精神分析思维是否可以阐明金融市场的不稳定及其对人类的广泛影响。有人认为，在固有的不确定性和模糊性的条件下购买、持有或出售金融资产必然意味着与金融资产之间存在矛盾的情感和幻想关系。基于历史记载的证据，并辅以一些访谈，作者提出，一种关注无意识幻想关系、心理状态和无意识群体功能的精神分析方法可以解释一些主流经济理论无法解释的有关金融泡沫的突出问题。作者还提出了金融市场的一些制度特征，这些特征通常会增加或减少因分裂那些引起痛苦情绪的想法而做出财务决策的可能性。分裂将增加未来金融不稳定的风险，在这方面，此类市场中的经济主体开展工作所依据的理论非常重要。认识到情感体验的整合并使之成为可能的跨学科理论可能比目前的主流理论对经济主体更有用，后者对比理性和非理性决策并将其建模为仅在推理的基础上做出一致的决策。
This paper sets out to explore if standard psychoanalytic thinking based on clinical experience can illuminate instability in financial markets and its widespread human consequences. Buying, holding or selling financial assets in conditions of inherent uncertainty and ambiguity, it is argued, necessarily implies an ambivalent emotional and phantasy relationship to them. Based on the evidence of historical accounts, supplemented by some interviewing, the authors suggest a psychoanalytic approach focusing on unconscious phantasy relationships, states of mind, and unconscious group functioning can explain some outstanding questions about financial bubbles which cannot be explained with mainstream economic theories. The authors also suggest some institutional features of financial markets which may ordinarily increase or decrease the likelihood that financial decisions result from splitting off those thoughts which give rise to painful emotions. Splitting would increase the future risk of financial instability and in this respect the theory with which economic agents in such markets approach their work is important. An interdisciplinary theory recognizing and making possible the integration of emotional experience may be more useful to economic agents than the present mainstream theories which contrast rational and irrational decision‐making and model them as making consistent decisions on the basis of reasoning alone.