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Where do prices come from? Sociological approaches to price formation

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  • Beckert, Jens

Abstract

The article provides an overview of the state of the art of sociological research on price formation. The dominant trait of the sociological approach to prices is to understand price formation not as the outcome of individual preferences but as the result of the social and political forces operating within the market field. The article proceeds from the concept of market fields and is organized around the three dominant approaches in economic sociology: the network approach, the institutional approach, and the cultural approach.

Suggested Citation

  • Beckert, Jens, 2011. "Where do prices come from? Sociological approaches to price formation," MPIfG Discussion Paper 11/3, Max Planck Institute for the Study of Societies.
  • Handle: RePEc:zbw:mpifgd:113
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    File URL: https://www.econstor.eu/bitstream/10419/45619/1/656740361.pdf
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    References listed on IDEAS

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    1. Donald Mackenzie & Fabian Muniesa & Lucia Siu, 2007. "Do Economists Make Markets? On the Performativity of Economics," Post-Print halshs-00149145, HAL.
    2. Beckert, Jens & Streeck, Wolfgang, 2008. "Economic sociology and political economy: A programmatic perspective," MPIfG Working Paper 08/4, Max Planck Institute for the Study of Societies.
    3. Michel Callon & Yuval Millo & Fabian Muniesa, 2007. "Market Devices," Post-Print halshs-00177891, HAL.
    4. Fabian Muniesa, 2007. "Market technologies and the pragmatics of prices," Post-Print halshs-00160893, HAL.
    5. Alan Kirman & Sonia Moulet & Rainer Schulz, 2008. "Price Discrimination and Customer Behaviour: Empirical Evidence from Marseille," Working Papers halshs-00349036, HAL.
    6. Daniel Beunza Ibáñez & Raghu Garud, 2004. "Security analysts as frame-makers," Economics Working Papers 733, Department of Economics and Business, Universitat Pompeu Fabra, revised Sep 2005.
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    Cited by:

    1. Nouguez, Etienne, 2014. "Governing the market through prices: The state and controls on the price of medicines in France," economic sociology_the european electronic newsletter, Max Planck Institute for the Study of Societies, vol. 15(2), pages 41-48.
    2. Kemal Yaman & Kemal Er & Emine Ozlem Koroglu, 2016. "Importance of Pricing for Hospitals¡¯ Expenses from Financial and Social Perspectives," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 8(9), pages 78-90, September.

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