The social order of markets
AbstractIn this article I develop a proposal for the theoretical vantage point of the sociology of markets, focusing on the problem of the social order of markets. The initial premise is that markets are highly demanding arenas of social interaction, which can only operate if three inevitable coordination problems are resolved. I define these coordination problems as the value problem, the problem of competition and the cooperation problem. I show that these problems can only be resolved based on stable reciprocal expectations on the part of market actors, which have their basis in the socio-structural, institutional and cultural embedding of markets. The sociology of markets aims to investigate how market action is structured by these macrostructures and to examine the change of institutions, networks and cultural frames of market action. --
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Max Planck Institute for the Study of Societies in its series MPIfG Discussion Paper with number 07/15.
Date of creation: 2007
Date of revision:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Beckert, Jens, 2007. "Die soziale Ordnung von Märkten," MPIfG Discussion Paper 07/6, Max Planck Institute for the Study of Societies.
- Herbert Simon & Lindsay McSweeney, 2010. "A Behavioral Model of Rational Choice," CPI Journal, Competition Policy International, vol. 6.
- Hugues Jeannerat & Leila Kebir, 2012. "Mobility of Knowledge. Knowledge resources and markets: What territorial economic systems ?," GRET Publications and Working Papers 02-12, GRET Group of Research in Territorial Economy, University of Neuchâtel.
- Stan Metcalfe, . "Capitalism and evolution," Openloc Working Papers 1201, Public policies and local development.
- Andrea Migone, 2011. "Embedded markets: A dialogue between F.A. Hayek and Karl Polanyi," The Review of Austrian Economics, Springer, vol. 24(4), pages 355-381, December.
- Schiller-Merkens, Simone, 2013. "Framing moral markets: The cultural legacy of social movements in an emerging market category," MPIfG Discussion Paper 13/8, Max Planck Institute for the Study of Societies.
- Kenneth Amaeshi, 2010. "Different Markets for Different Folks: Exploring the Challenges of Mainstreaming Responsible Investment Practices," Journal of Business Ethics, Springer, vol. 92(1), pages 41-56, April.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (ZBW - German National Library of Economics).
If references are entirely missing, you can add them using this form.