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• W1603476578 abstract "If there is something difficult to understand within economics it is markets 1 . While prices, producers, consumers, and even the state as regulatory authority, are economic agencies and subject of behavioural theories, something as a theory of markets and even a theory of commodities does not consistently exist. The word covers a wide range of organisations and institutions making markets functioning (e.g.: enterprises, market places, information on price, legal guaranties) on the one hand, and on the other hand it is reduced to abstract mechanisms (supply and demand model). Property rights, law and institutions in general are seen as mere timeless constraints for conformity. While they are not for economics (except for institutional economics), markets are objects of research for History, Law, Anthropology and Sociology. Economic sociology is occupying this vacant theoretical space. It has developed with the critique of neoclassical theory as a starting point, and principally the critique of the inconsistency of its central notion of market, while instead the markets are relational or transactional spheres. Variety within markets is denied by the essential hypothesis of the perfect competition, willing the agents anonymous and omniscient. The ways opened by Chamberlin with the representation of markets as local monopolies, by Coase with the existence of costs of using markets (transaction costs), by Austrian economics with markets as processes of discovery of efficient designs, or by evolutionary economics interested in the way market structuring influences innovation, were broadly regarded as" @default.
• W1603476578 created "2016-06-24" @default.
• W1603476578 creator A5071823036 @default.
• W1603476578 date "2009-01-01" @default.
• W1603476578 modified "2023-09-23" @default.
• W1603476578 title "Economics of Conventions and the New Economic Sociology and our Understanding of Food Quality and New Food Markets and Trade Institutions: What are markets that pure economics does not know?" @default.
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• W1603476578 doi "https://doi.org/10.22004/ag.econ.53203" @default.
• W1603476578 hasPublicationYear "2009" @default.
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