{"id":"W4324045489","doi":"10.1080/03085147.2023.2172252","title":"Active fund managers and the rise of passive investing: Epistemic opportunism in financial markets","year":2023,"lang":"en","type":"article","venue":"Economy and Society","topic":"Management and Organizational Studies","field":"Business, Management and Accounting","cited_by":7,"is_retracted":false,"has_abstract":true,"ca_institutions":"","funders":"Concordia University; University of New South Wales; Monash University; Cardiff University; University of Bristol; King's College London; London School of Economics and Political Science; DePaul University","keywords":"Opportunism; Irrationality; Financial market; Corporate governance; Economics; Investment management; Finance; Hedge fund; Investment decisions; Position (finance); Index fund; Financial economics; Behavioral economics; Rationality; Institutional investor; Market economy; Political science; Law; Market liquidity","routes":{"ca_aff":false,"ca_fund":true,"ca_venue":false,"about_ca":false,"invisible_to_affiliation_only":true},"retraction":null,"screen":null,"direct_labels":[],"prediction":{"model_version":"codex-gemma-dda1882f352a","candidate_categories":[],"consensus_categories":[],"category_scores_codex":[0.0003767864,0.00008547659,0.0001550857,0.00004810171,0.0001994099,0.00005776217,0.00007033542,0.0000335392,0.0000359435],"category_scores_gemma":[0.00007087174,0.00006805744,0.00004217934,0.0002536955,0.0002300215,0.0003090098,0.0002385145,0.00006393878,0.000007354633],"about_ca_system_candidate":false,"about_ca_system_consensus":false,"about_ca_system_score_codex":0.00001025441,"about_ca_system_score_gemma":0.000009027311,"about_ca_topic_candidate":false,"about_ca_topic_consensus":false,"about_ca_topic_score_codex":0.0000936326,"about_ca_topic_score_gemma":0.00003983337,"domain_scores_codex":[0.9995175,0.000009603318,0.0001567266,0.0001497221,0.00004530075,0.0001211615],"domain_scores_gemma":[0.9996716,0.0001061557,0.0001293746,0.00005861386,0.00002776849,0.000006461443],"domain_codex":null,"domain_gemma":null,"domain_candidate":null,"domain_consensus":null,"study_design_codex":"theoretical_or_conceptual","study_design_gemma":"observational","study_design_scores_codex":[0.0001076143,0.00003649479,0.178399,0.0008694936,0.0002219527,0.00001147679,0.004186304,0.00002888617,0.000006555817,0.7179933,0.0831885,0.01495037],"study_design_scores_gemma":[0.002423861,0.000004586595,0.7791367,0.00005785733,0.00007323887,4.105329e-7,0.008794631,0.006113286,0.000006240704,0.1035062,0.0996266,0.0002563203],"study_design_candidate":"observational","study_design_consensus":null,"genre_codex":"empirical","genre_gemma":"empirical","genre_scores_codex":[0.8900951,0.0003304063,0.00004676975,0.009974476,0.0001401125,0.0004583849,0.000004099946,0.00005332214,0.09889738],"genre_scores_gemma":[0.9970382,0.000471036,0.0000286158,0.001248601,0.0001495622,0.00002000323,0.000009048523,0.000006955856,0.001027999],"genre_candidate":"empirical","genre_consensus":"empirical","teacher_disagreement_score":0.6144871,"threshold_uncertainty_score":0.2775302,"prediction_status":"machine_predicted_unvalidated"},"machine_scores":{"provisional":true,"baseline":true,"maturity_gate_passed":false,"score_opus":0.02099647283417332,"score_gpt":0.2050594796703587,"score_spread":0.1840630068361854,"validation_status":"score_only:v0-immature-baseline","note":"Baseline scores from an immature model (maturity gate not passed). Scores rank; they never assert a category."}}