An unprecedented meeting of philosophical thought, financial markets, and the art world. Why has the concept of contingency taken on a marked importance both in contemporary philosophy and in contemporary art practice? And if this simultaneity derives from parallel problems met within the two different fields, what are their common roots? Beyond acknowledging the contingent nature of tradition, institutions, and practices, recent speculative philosophies of “absolute contingency” demand a radical revision of the ways in which we conceive of our interaction with unknowable materialities, and pose a challenge to both probabilistic management and process-driven affirmation of contingency. In an unprecedented meeting of philosophical thought, financial markets, and the art world, The Medium of Contingency explores how works of art write contingency into the present, and are in turn written by the contingency of their materials, and how these exchanges interact with other markets. From the mathematical instruments used to value financial derivatives to the nature of literary creation, from the market-making role of the curator to the “chemistry of openness,” the contributors to this lively discussion draw out the startling consequences of a new figure of thought.

In The Medium of Contingency Elie Ayache builds upon his ground-breaking book The Blank Swan, in exploring the intersection of philosophy and finance, introducing new notions of price and market. Inverting the received view, he now sees a creation of matter in both the market and its metaphysics, rather than pure speculation. Once recognized as the proper medium of contingency and disassociated from the probabilistic and statistical tools traditionally used to model it, the market can be thought as 'real', in a new sense of reality corresponding to the new sense of matter. To bring this new and original perspective, The Medium of Contingency builds on probability theory as first formalized by von Mises and Kolmogorov, and later revisited by Shafer and Vovk. It utilises the author's extensive experience in derivatives pricing technology and software, as well as his work in the philosophy of contingency and contingent claims, to propose a new philosophical interpretation of Brownian motion and of the Black-Scholes-Merton formula. Then it completes the overturning of the traditional view of the market by arguing that there should be no difference, ultimately, between an underlying asset and the derivative written on it. This book does not aim to change the market but the way we must think of it. It is the author's conviction that there can be no philosophy of the market, and consequently no thinking of it, without a philosophy of contingent claims and of derivative pricing. The book provides the missing piece, which the philosophy of probability cannot provide alone. Its scope, however, extends beyond the strict critique of financial mathematics, as it also, and perhaps most importantly, delivers the author's definitive treatment of the philosophically prominent and recently much discussed notion of contingency.

An exploration of transformations in the nature of the art object and artistic authorship in the last four decades. In this book, Martha Buskirk addresses the interesting fact that since the early 1960s, almost anything can and has been called art. Among other practices, contemporary artists have employed mass-produced elements, impermanent materials, and appropriated imagery, have incorporated performance and video, and have created works through instructions carried out by others. Furthermore, works of art that lack traditional signs of authenticity or permanence have been embraced by institutions long devoted to the original and the permanent. Buskirk begins with questions of authorship raised by minimalists' use of industrial materials and methods, including competing claims of ownership and artistic authorship evident in conflicts over the right to fabricate artists' works. Examining recent examples of appropriation, she finds precedents in pop art and the early twentieth-century readymade and explores the intersection of contemporary artistic copying and the system of copyrights, trademarks, and brand names characteristic of other forms of commodity production. She also investigates the ways that connections between work and context have transformed art and institutional conventions, the impact of new materials on definitions of medium, the role of the document as both primary and secondary object, and the significance of conceptually oriented performance work for the intersection of photography and the human body in contemporary art. Buskirk explores how artists active in the 1980s and 1990s have recombined strategies of the art of the 1960s and 1970s. She also shows how the mechanisms through which art is presented shape not only readings of the work but the work itself. She uses her discussion of the readymade and conceptual art to explore broader issues of authorship, reproduction, context, and temporality.

October 19th 1987 was a day of huge change for the global finance industry. On this day the stock market crashed, the Nobel Prize winning Black-Scholes formula failed and volatility smiles were born, and on this day Elie Ayache began his career, on the trading floor of the French Futures and Options Exchange. Experts everywhere sought to find a model for this event, and ways to simulate it in order to avoid a recurrence in the future, but the one thing that struck Elie that day was the belief that what actually happened on 19th October 1987 is simply non reproducible outside 19th October 1987 - you cannot reduce it to a chain of causes and effects, or even to a random generator, that can then be reproduced or represented in a theoretical framework. The Blank Swan is Elie's highly original treatise on the financial markets presenting a totally revolutionary rethinking of derivative pricing and technology. It is not a diatribe against Nassim Taleb's The Black Swan, but criticises the whole background or framework of predictable and unpredictable events white and black swans alike , i.e. the very category of prediction. In this revolutionary book, Elie redefines the components of the technology needed to price and trade derivatives. Most importantly, and drawing on a long tradition of philosophy of the event from Henri Bergson to Gilles Deleuze, to Alain Badiou, and on a recent brand of philosophy of contingency, embodied by the speculative materialism of Quentin Meillassoux, Elie redefines the market itself against the common perceptions of orthodox financial theory, general equilibrium theory and the sociology of finance. This book will change the way that we think about derivatives and approach the market. If anything, derivatives should be renamed contingent claims, where contingency is now absolute and no longer derivative, and the market is just its medium. The book also establishes the missing link between quantitative modelling (no longer dependent on probability theory but on a novel brand of mathematics which Elie calls the mathematics of price) and the reality of the market.

This volume presents a comprehensive, in-depth analysis of the theories, evidence and methodological issues of contingency theory - one of the major theoretical lenses used to view organizations.

Contingent Encounters offers a sustained comparative study of improvisation as it appears between music and everyday life. Drawing on work in musicology, cultural studies, and critical improvisation studies, as well as his own performing experience, Dan DiPiero argues that comparing improvisation across domains calls into question how improvisation is typically recognized. By comparing the music of Eric Dolphy, Norwegian free improvisers, Mr. K, and the Ingrid Laubrock/Kris Davis duo with improvised activities in everyday life (such as walking, baking, working, and listening), DiPiero concludes that improvisation appears as a function of any encounter between subjects, objects, and environments. Bringing contingency into conversation with the utopian strain of critical improvisation studies, DiPiero shows how particular social investments cause improvisation to be associated with relative freedom, risk-taking, and unpredictability in both scholarship and public discourse. Taking seriously the claim that improvisation is the same thing as living, Contingent Encounters overturns long-standing assumptions about the aesthetic and political implications of this notoriously slippery term.

This book is an investigation of algorithmic contingency and an elucidation of the contemporary situation that we are living in: the regular arrival of algorithmic catastrophes on a global scale. Through a historical analysis of philosophy, computation and media, this book proposes a renewed relation between nature and technics.