Virtuality and Non-Virtuality in Remote Stock Trading

Submitted by Super Admin on Sun, 2009-05-03 19:37

Publication Type:

IFIP Paper

Authors:

Fuente, Roger; Chiasson, Mike; Devadoss, Paul

Source:

Information Technology in the Service Economy: Challenges and Possibilities for the 21st Century, p.159 - 172 (2008)

URL:

http://dx.doi.org/10.1007/978-0-387-09768-8_11

Abstract:

Advances in information technology allow for remote working, leading to suggestions that remote individuals can operate in virtual instead of face-to-face teams. This paper considers the continuation of face-to-face communication in a European group of stock traders, despite the capabilities of information technology to individuate the work. The case illustrates that traders prefer and need to work in face-to-face settings for various reasons. Short-term reasons arise from a need for instant and effortless communication in their manipulation of market prices and for instant knowledge sharing, leading to both higher individual and collective profits. Long-term reasons arise from a need for continuous learning by novices and experts, as stock markets and stock prices settle into behavioral patterns over longer periods of time. The implications for computing and work are discussed.