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Markets under the Microscope: Making Scientific Discoveries Valuable through Choreographed Contestations

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  • Katy Mason
  • Martin Friesl
  • Chris J. Ford

Abstract

This paper breaks new ground by revealing and conceptualizing the marketization of science as a process that transforms scientific discoveries and markets through a series of choreographed contestations: moments of valuation that occur when different social worlds collide. We follow a scientific discovery, from the moment it entered an incubator, to uncover how valuation practices and market devices enact and contest diverse social values (i.e., what is worth doing) to generate economic value (i.e., what is worth paying for) at the science‐market‐entrepreneurship nexus. In contrast with commercialization of science studies that focus on institutional arrangements, this study explicates the practices and devices used by multiple market actors to transform a scientific discovery into a marketable object. In so doing, we characterise choreographed contestations and the mechanisms through which they operate to explain how specific valuations are performed to work out innovative next steps that unfold the marketization of science.

Suggested Citation

  • Katy Mason & Martin Friesl & Chris J. Ford, 2019. "Markets under the Microscope: Making Scientific Discoveries Valuable through Choreographed Contestations," Journal of Management Studies, Wiley Blackwell, vol. 56(5), pages 966-999, July.
    • Handle: RePEc:bla:jomstd:v:56:y:2019:i:5:p:966-999
    DOI: 10.1111/joms.12426
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    Cited by:

    1. Hussein Faruque Aly & Katy Mason & Winfred Onyas, 2021. "The institutional work of a social enterprise operating in a subsistence marketplace: Using the business model as a market‐shaping tool," Journal of Consumer Affairs, Wiley Blackwell, vol. 55(1), pages 31-58, March.
    2. Peter Kalum Schou, 2023. "Coming Apart While Scaling Up – Adoption of Logics and the Fragmentation of Organizational Identity in Science‐Based Ventures," Journal of Management Studies, Wiley Blackwell, vol. 60(3), pages 688-721, May.

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