Markets

For this authoritative collection, Mitchel Abolafia has chosen the most significant previously published papers and articles in the field of economic sociology, which contribute to an understanding of the organisation of markets. Economists are becoming increasingly aware of the institutional nature of markets, but to date, it is economic sociologists who have carried out much of the analytical work on real world market institutions. To develop our understanding of markets, the time is ripe for a fruitful dialogue across the disciplinary boundaries. Although economic sociologists recognize markets as mechanisms of exchange, they seem to be more concerned with how markets work, rather than with how well they work. The papers selected for this book are the result of empirical studies of particular markets, including markets in options, futures, currency, initial public offerings of stock, biotechnology, women's apparel, and auctions in a variety of commodities. They indicate an important research initiative to explore how markets really work. 19 articles, dating from 1963 to 2002