On the social structure of markets

Research output: Contribution to journalArticlepeer-review

Abstract

Economic theorists have seldom discussed the social structures behind markets, even though market trading relies heavily on seller/buyer roles and personal relations among traders. This paper considers the structural basis of markets and proposes a layered approach which accommodates a wide range of competitive and relational trade within a definition of markets that distinguishes them from non-market exchange. Giving due regard to social structures lays bare the institutional character of markets and provides a rationale for case studies of how particular markets function.

Original languageEnglish
Pages (from-to)235-253
Number of pages19
JournalCAMBRIDGE JOURNAL OF ECONOMICS
Volume31
Issue number2
DOIs
Publication statusPublished - Mar 2007

Keywords

  • markets
  • social structure
  • agency
  • competition
  • rivalry
  • economic theory
  • institutions

Cite this