IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this paper

How are markets made?

Listed author(s):
  • Aspers, Patrik
Registered author(s):

    The purpose of this paper is to analyze the making of markets. The paper identifies two ideal-typical processes in which markets are made - organized making and spontaneous making - which are often combined in reality. Organized making is defined as a process in which at least two actors come together and decide on the order of the market. There are two ways of organized making of markets, called 'state-governed market making' and 'self-governed market making.' Spontaneous making is defined as a process in which the market is an unintended result of actors' activities. The attention sociologists have paid to the issue of market making has been directed largely at organized market making. This paper develops a sociological approach that integrates both spontaneous and organized market making, and identifies three phases of market making. This involves a discussion of empirical cases, and seven hypotheses are presented that make predictions for the two types of market making. The paper provides theoretical tools for studying the making of markets in history, as well as in our own time. Finally, a number of conditions are presented that must be in place if there is to be a market.

    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:
    Download Restriction: no

    Paper provided by Max Planck Institute for the Study of Societies in its series MPIfG Working Paper with number 09/2.

    in new window

    Date of creation: 2009
    Handle: RePEc:zbw:mpifgw:092
    Contact details of provider: Postal:
    Paulstr. 3, 50676 Köln

    Phone: + 49 (0) 221-2767-0
    Web page:

    More information through EDIRC

    References listed on IDEAS
    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.:

    in new window

    1. Donald Mackenzie & Fabian Muniesa & Lucia Siu, 2007. "Do Economists Make Markets? On the Performativity of Economics," Post-Print halshs-00149145, HAL.
    2. Mollgaard, H Peter, 1997. "A Squeezer Round the Corner? Self-Regulation and Forward Markets," Economic Journal, Royal Economic Society, vol. 107(440), pages 104-112, January.
    3. Michel Callon & Fabian Muniesa, 2005. "Economic markets as calculative collective devices," Post-Print halshs-00087477, HAL.
    4. Oliver Volckart & Antje Mangels, 1999. "Are the Roots of the Modern Lex Mercatoria Really Medieval?," Southern Economic Journal, Southern Economic Association, vol. 65(3), pages 427-450, January.
    5. Michel Callon & Yuval Millo & Fabian Muniesa, 2007. "Market Devices," Post-Print halshs-00177891, HAL.
    Full references (including those not matched with items on IDEAS)

    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:zbw:mpifgw:092. 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: (ZBW - German National Library of Economics)

    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.