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How and Why Theories Matter: A Comment on Felin and Foss (2009)

IESE Business School, 08034 Barcelona, Spain
Graduate School of Business, Stanford University, Stanford, California 94305
Department of Management Science and Engineering, Stanford University, Stanford, California 94305
fferraro{at}iese.edu
pfeffer_jeffrey{at}gsb.stanford.edu
bobsut{at}stanford.edu

Theories matter because they affect behavior and can, under certain circumstances, become self-fulfilling. For a theory to become self-fulfilling, people must be aware of the theory and have the ability to make choices according to its dictates, social and physical arrangements are altered on the basis of the theory's prescriptions, and the proponents have the power to implement social arrangements consistent with the theory. Economics and other social science theories often fulfill these conditions, with implications not only for the work of scholars, but also for how we think about testing theories that can change the world they describe.

Key Words: self-fulfilling prophecies; performativity; sociology of science

This article has been cited by other articles:

				T. Felin and N. J. Foss Performativity of Theory, Arbitrary Conventions, and Possible Worlds: A Reality Check Organization Science, May 1, 2009; 20(3): 676 - 678. [Abstract] [PDF]