IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

What is a Market? On the Methodology of a Contested Concept

  • Eckehard Rosenbaum
Registered author(s):

    Some economists find markets everywhere and assume that they emerge spontaneously once a set of necessary conditions such as well-defined property rights is fulfilled. Others emphasise the role of organisations and contend that markets are actually less dominant. But despite claims to the contrary, the market concept is hardly analyzed in depth. Nor are there serious attempts to examine empirically where markets exist. Against this background, the paper addresses the question of what is a market? It begins by illustrating how the literature has hitherto defined the concept of a market. On the basis of methodological considerations, which center on the subject matter of economic analysis, the paper provides a revised conceptualisation of markets in terms of those conditions under which stylised facts about relative prices can be observed. The final part of the paper discusses the link between the conceptualisation of a market and the informational role of relative prices highlighted by the Austrian School.

    If 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.

    File URL: http://www.tandfonline.com/doi/abs/10.1080/00346760050204300
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Article provided by Taylor & Francis Journals in its journal Review of Social Economy.

    Volume (Year): 58 (2000)
    Issue (Month): 4 ()
    Pages: 455-482

    as
    in new window

    Handle: RePEc:taf:rsocec:v:58:y:2000:i:4:p:455-482
    Contact details of provider: Web page: http://www.tandfonline.com/RRSE20

    Order Information: Web: http://www.tandfonline.com/pricing/journal/RRSE20

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:taf:rsocec:v:58:y:2000:i:4:p:455-482. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.