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Networks and Markets

Author: James E. Rauch

Publisher: Russell Sage Foundation

Published: 2001-06-21

Total Pages: 357

ISBN-13: 1610444671

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Networks and Markets argues that economists' knowledge of markets and sociologists' rich understanding of networks can and should be combined. Together they can help us achieve a more coherent view of economic life, where transactions follow both the logic of economic incentives and the established channels of personal relationships. Market exchange is impersonal, episodic, and carried out at arm's length. All that matters is how much the seller is asking, and how much the buyer is offering. An economic network, by contrast, is based upon more personalized and enduring relationships between people tied together by more than just price. Networks and Markets focuses on how the two concepts relate to each other: Are social networks an essential precondition for successful markets, or do networks arise naturally out of markets, as faceless traders build reputations and gain confidence in each other? The book includes contributions by both sociologists and economists, applying the concepts of markets and networks to concrete empirical phenomena. Among the topics analyzed, the book explains how, in Taiwan, South Korea, and Japan, firms combine into tightly-knit business blocs, how wholesalers in a Marseille fish market earn the loyalty of customers, and how ethnic retailers in the U.S. share valuable market information with other shopkeepers from their ethnic group. A response to each chapter discusses the issue from the standpoint of the other discipline. Sociologists are challenged to go beyond small-scale economic exchange and to integrate their concept of networks into a broader understanding of the economic system as a whole, while economists are challenged to consider the economic implications of network ties, which can be strong or weak, unconditional or highly contingent. This book proves that both economics and sociology provide stronger insights when they study markets and networks as parallel forms of exchange. But it also clarifies the healthy division of labor that remains between the two disciplines. Sociologists are adept at showing how markets are framed by social institutions; economists specialize in explaining how markets perform, taking the social context as a given. Networks and Markets showcases what each discipline does best and reveals where each discipline would do better by borrowing from the other.

Book Synopsis Networks and Markets by : James E. Rauch

Download or read book Networks and Markets written by James E. Rauch and published by Russell Sage Foundation. This book was released on 2001-06-21 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: Networks and Markets argues that economists' knowledge of markets and sociologists' rich understanding of networks can and should be combined. Together they can help us achieve a more coherent view of economic life, where transactions follow both the logic of economic incentives and the established channels of personal relationships. Market exchange is impersonal, episodic, and carried out at arm's length. All that matters is how much the seller is asking, and how much the buyer is offering. An economic network, by contrast, is based upon more personalized and enduring relationships between people tied together by more than just price. Networks and Markets focuses on how the two concepts relate to each other: Are social networks an essential precondition for successful markets, or do networks arise naturally out of markets, as faceless traders build reputations and gain confidence in each other? The book includes contributions by both sociologists and economists, applying the concepts of markets and networks to concrete empirical phenomena. Among the topics analyzed, the book explains how, in Taiwan, South Korea, and Japan, firms combine into tightly-knit business blocs, how wholesalers in a Marseille fish market earn the loyalty of customers, and how ethnic retailers in the U.S. share valuable market information with other shopkeepers from their ethnic group. A response to each chapter discusses the issue from the standpoint of the other discipline. Sociologists are challenged to go beyond small-scale economic exchange and to integrate their concept of networks into a broader understanding of the economic system as a whole, while economists are challenged to consider the economic implications of network ties, which can be strong or weak, unconditional or highly contingent. This book proves that both economics and sociology provide stronger insights when they study markets and networks as parallel forms of exchange. But it also clarifies the healthy division of labor that remains between the two disciplines. Sociologists are adept at showing how markets are framed by social institutions; economists specialize in explaining how markets perform, taking the social context as a given. Networks and Markets showcases what each discipline does best and reveals where each discipline would do better by borrowing from the other.

Networks, Crowds, and Markets

Author: David Easley

Publisher: Cambridge University Press

Published: 2010-07-19

Total Pages: 745

ISBN-13: 1139490303

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Are all film stars linked to Kevin Bacon? Why do the stock markets rise and fall sharply on the strength of a vague rumour? How does gossip spread so quickly? Are we all related through six degrees of separation? There is a growing awareness of the complex networks that pervade modern society. We see them in the rapid growth of the internet, the ease of global communication, the swift spread of news and information, and in the way epidemics and financial crises develop with startling speed and intensity. This introductory book on the new science of networks takes an interdisciplinary approach, using economics, sociology, computing, information science and applied mathematics to address fundamental questions about the links that connect us, and the ways that our decisions can have consequences for others.

Book Synopsis Networks, Crowds, and Markets by : David Easley

Download or read book Networks, Crowds, and Markets written by David Easley and published by Cambridge University Press. This book was released on 2010-07-19 with total page 745 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are all film stars linked to Kevin Bacon? Why do the stock markets rise and fall sharply on the strength of a vague rumour? How does gossip spread so quickly? Are we all related through six degrees of separation? There is a growing awareness of the complex networks that pervade modern society. We see them in the rapid growth of the internet, the ease of global communication, the swift spread of news and information, and in the way epidemics and financial crises develop with startling speed and intensity. This introductory book on the new science of networks takes an interdisciplinary approach, using economics, sociology, computing, information science and applied mathematics to address fundamental questions about the links that connect us, and the ways that our decisions can have consequences for others.

The Wealth of Networks

Author: Yochai Benkler

Publisher: Yale University Press

Published: 2006-01-01

Total Pages: 532

ISBN-13: 9780300125771

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Describes how patterns of information, knowledge, and cultural production are changing. The author shows that the way information and knowledge are made available can either limit or enlarge the ways people create and express themselves. He describes the range of legal and policy choices that confront.

Book Synopsis The Wealth of Networks by : Yochai Benkler

Download or read book The Wealth of Networks written by Yochai Benkler and published by Yale University Press. This book was released on 2006-01-01 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt: Describes how patterns of information, knowledge, and cultural production are changing. The author shows that the way information and knowledge are made available can either limit or enlarge the ways people create and express themselves. He describes the range of legal and policy choices that confront.

Networks in Marketing

Author: Dawn Iacobucci

Publisher: SAGE

Published: 1996-08-07

Total Pages: 465

ISBN-13: 076190140X

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An overview of what networks are and how they are used in marketing management practices is provided in this volume. Leading scholars in the field examine various types of relationships including: customer-to-customer networks; relationships as investment opportunities; and strategic alliances. They also investigate market dynamics and structure and consumer networks. In conclusion, several advanced methodological issues and future research directions are examined. In addition to the main research chapters, key figures contribute their own reflections on the topic.

Book Synopsis Networks in Marketing by : Dawn Iacobucci

Download or read book Networks in Marketing written by Dawn Iacobucci and published by SAGE. This book was released on 1996-08-07 with total page 465 pages. Available in PDF, EPUB and Kindle. Book excerpt: An overview of what networks are and how they are used in marketing management practices is provided in this volume. Leading scholars in the field examine various types of relationships including: customer-to-customer networks; relationships as investment opportunities; and strategic alliances. They also investigate market dynamics and structure and consumer networks. In conclusion, several advanced methodological issues and future research directions are examined. In addition to the main research chapters, key figures contribute their own reflections on the topic.

Black Markets and Militants

Author: Khalid Mustafa Medani

Publisher: Cambridge University Press

Published: 2022-09-08

Total Pages: 427

ISBN-13: 1009257714

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Understanding the political and socio-economic factors which give rise to youth recruitment into militant organizations is central to grasping some of the most important issues that affect the contemporary Middle East and Africa. In this book, Khalid Mustafa Medani explains why youth are attracted to militant organizations, examining the specific role economic globalization plays in determining how and why militant activists emerge. Based on extensive fieldwork, Medani offers an in-depth analysis of the impact of globalization, neoliberal reforms and informal economic networks on the rise and evolution of moderate and militant Islamist movements. In an original contribution to the study of Islamist and ethnic politics, he shows the importance of understanding when and under what conditions religious rather than other forms of identity become politically salient. This title is also available as Open Access on Cambridge Core.

Book Synopsis Black Markets and Militants by : Khalid Mustafa Medani

Download or read book Black Markets and Militants written by Khalid Mustafa Medani and published by Cambridge University Press. This book was released on 2022-09-08 with total page 427 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding the political and socio-economic factors which give rise to youth recruitment into militant organizations is central to grasping some of the most important issues that affect the contemporary Middle East and Africa. In this book, Khalid Mustafa Medani explains why youth are attracted to militant organizations, examining the specific role economic globalization plays in determining how and why militant activists emerge. Based on extensive fieldwork, Medani offers an in-depth analysis of the impact of globalization, neoliberal reforms and informal economic networks on the rise and evolution of moderate and militant Islamist movements. In an original contribution to the study of Islamist and ethnic politics, he shows the importance of understanding when and under what conditions religious rather than other forms of identity become politically salient. This title is also available as Open Access on Cambridge Core.

Markets from Networks

Author: Harrison C. White

Publisher: Princeton University Press

Published: 2018-06-05

Total Pages: 408

ISBN-13: 0691187622

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In Markets from Networks, one of America's most influential sociologists unveils a groundbreaking theory of the market economy. Arguing that most economists use overly abstract models of how the economy operates, Harrison White seeks a richer, more empirically based alternative. In doing so, he offers a more lucid, generalized treatment of the market models described in his important earlier work in order to show how any given market is situated in a broader exchange economy. White argues that the key to economic action is that producers seek market niches to maximize profit and minimize competition. As they do so, they base production decisions not only on anticipated costs from suppliers and anticipated demand from buyers, but also by looking at their competitors. In fact, White asserts, producers act less in response to actual demand than by anticipating it: they gauge where competitors have found demand and thus determine what they can do that is similar and yet different enough to give themselves a special niche. Building on these and related insights, White creates new mathematical models of how the economy works and how the interaction of its sectors creates mutual protection from the uncertainties of business. These models provide new ways of accounting for profits, prices, market shares, and other vital economic phenomena. He shows, for example, that prices are determined by the coalescing of local variables rather than set in terms of averages as implied by the ''law'' of supply and demand. The model of ''pure'' competition favored by economics is deficient, he concludes, as it fails to account for the varied circumstances of particular industries. Throughout, White draws extensively on case studies of American businesses and on recent mathematical and sociological work on networks. Rivaling standard economic theories with its rich empirical grounding, sheer originality, and scholarly rigor, Markets from Networks will resonate in economics and economic sociology for years to come.

Book Synopsis Markets from Networks by : Harrison C. White

Download or read book Markets from Networks written by Harrison C. White and published by Princeton University Press. This book was released on 2018-06-05 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Markets from Networks, one of America's most influential sociologists unveils a groundbreaking theory of the market economy. Arguing that most economists use overly abstract models of how the economy operates, Harrison White seeks a richer, more empirically based alternative. In doing so, he offers a more lucid, generalized treatment of the market models described in his important earlier work in order to show how any given market is situated in a broader exchange economy. White argues that the key to economic action is that producers seek market niches to maximize profit and minimize competition. As they do so, they base production decisions not only on anticipated costs from suppliers and anticipated demand from buyers, but also by looking at their competitors. In fact, White asserts, producers act less in response to actual demand than by anticipating it: they gauge where competitors have found demand and thus determine what they can do that is similar and yet different enough to give themselves a special niche. Building on these and related insights, White creates new mathematical models of how the economy works and how the interaction of its sectors creates mutual protection from the uncertainties of business. These models provide new ways of accounting for profits, prices, market shares, and other vital economic phenomena. He shows, for example, that prices are determined by the coalescing of local variables rather than set in terms of averages as implied by the ''law'' of supply and demand. The model of ''pure'' competition favored by economics is deficient, he concludes, as it fails to account for the varied circumstances of particular industries. Throughout, White draws extensively on case studies of American businesses and on recent mathematical and sociological work on networks. Rivaling standard economic theories with its rich empirical grounding, sheer originality, and scholarly rigor, Markets from Networks will resonate in economics and economic sociology for years to come.

Public Management and the Metagovernance of Hierarchies, Networks and Markets

Author: Louis Meuleman

Publisher: Springer Science & Business Media

Published: 2008-04-03

Total Pages: 402

ISBN-13: 3790820547

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Public managers can, to a certain extent, choose between various mana- ment paradigms which are provided by public and business administration scholars and by politicians as well. How do they find their way in this c- fusing supermarket of competing ideas? This book explores how public managers in Western bureaucracies deal with the mutually undermining ideas of hierarchical, network and market governance. Do they possess a specific logic of action, a rationale, when they combine and switch - tween these governance styles? This chapter sets the scene for the book as a whole and presents the - search topic and the research question. 1.1 Problem setting Since the Second World War, Western public administration systems have changed drastically. The hierarchical style of governing of the 1950s to the 1970s was partly replaced by market mechanisms, from the 1980s - wards. In the 1990s, a third style of governing, based on networks, further enriched the range of possible steering, coordination and organisation - terventions. In the new millennium, public sector organisations seem to apply complex and varying mixtures of all three styles of what we will - fine as governance in a broad sense. This development has brought about two problems.

Book Synopsis Public Management and the Metagovernance of Hierarchies, Networks and Markets by : Louis Meuleman

Download or read book Public Management and the Metagovernance of Hierarchies, Networks and Markets written by Louis Meuleman and published by Springer Science & Business Media. This book was released on 2008-04-03 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public managers can, to a certain extent, choose between various mana- ment paradigms which are provided by public and business administration scholars and by politicians as well. How do they find their way in this c- fusing supermarket of competing ideas? This book explores how public managers in Western bureaucracies deal with the mutually undermining ideas of hierarchical, network and market governance. Do they possess a specific logic of action, a rationale, when they combine and switch - tween these governance styles? This chapter sets the scene for the book as a whole and presents the - search topic and the research question. 1.1 Problem setting Since the Second World War, Western public administration systems have changed drastically. The hierarchical style of governing of the 1950s to the 1970s was partly replaced by market mechanisms, from the 1980s - wards. In the 1990s, a third style of governing, based on networks, further enriched the range of possible steering, coordination and organisation - terventions. In the new millennium, public sector organisations seem to apply complex and varying mixtures of all three styles of what we will - fine as governance in a broad sense. This development has brought about two problems.

Assembling Consumption

Author: Robin Canniford

Publisher: Routledge

Published: 2015-09-16

Total Pages: 202

ISBN-13: 1317589637

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Assembling Consumption marks a definitive step in the institutionalisation of qualitative business research. By gathering leading scholars and educators who study markets, marketing and consumption through the lenses of philosophy, sociology and anthropology, this book clarifies and applies the investigative tools offered by assemblage theory, actor-network theory and non-representational theory. Clear theoretical explanation and methodological innovation, alongside empirical applications of these emerging frameworks will offer readers new and refreshing perspectives on consumer culture and market societies. This is an essential reading for both seasoned scholars and advanced students of markets, economies and social forms of consumption.

Book Synopsis Assembling Consumption by : Robin Canniford

Download or read book Assembling Consumption written by Robin Canniford and published by Routledge. This book was released on 2015-09-16 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: Assembling Consumption marks a definitive step in the institutionalisation of qualitative business research. By gathering leading scholars and educators who study markets, marketing and consumption through the lenses of philosophy, sociology and anthropology, this book clarifies and applies the investigative tools offered by assemblage theory, actor-network theory and non-representational theory. Clear theoretical explanation and methodological innovation, alongside empirical applications of these emerging frameworks will offer readers new and refreshing perspectives on consumer culture and market societies. This is an essential reading for both seasoned scholars and advanced students of markets, economies and social forms of consumption.

Social and Economic Networks

Author: Matthew O. Jackson

Publisher: Princeton University Press

Published: 2010-11-01

Total Pages: 520

ISBN-13: 9781400833993

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Networks of relationships help determine the careers that people choose, the jobs they obtain, the products they buy, and how they vote. The many aspects of our lives that are governed by social networks make it critical to understand how they impact behavior, which network structures are likely to emerge in a society, and why we organize ourselves as we do. In Social and Economic Networks, Matthew Jackson offers a comprehensive introduction to social and economic networks, drawing on the latest findings in economics, sociology, computer science, physics, and mathematics. He provides empirical background on networks and the regularities that they exhibit, and discusses random graph-based models and strategic models of network formation. He helps readers to understand behavior in networked societies, with a detailed analysis of learning and diffusion in networks, decision making by individuals who are influenced by their social neighbors, game theory and markets on networks, and a host of related subjects. Jackson also describes the varied statistical and modeling techniques used to analyze social networks. Each chapter includes exercises to aid students in their analysis of how networks function. This book is an indispensable resource for students and researchers in economics, mathematics, physics, sociology, and business.

Book Synopsis Social and Economic Networks by : Matthew O. Jackson

Download or read book Social and Economic Networks written by Matthew O. Jackson and published by Princeton University Press. This book was released on 2010-11-01 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: Networks of relationships help determine the careers that people choose, the jobs they obtain, the products they buy, and how they vote. The many aspects of our lives that are governed by social networks make it critical to understand how they impact behavior, which network structures are likely to emerge in a society, and why we organize ourselves as we do. In Social and Economic Networks, Matthew Jackson offers a comprehensive introduction to social and economic networks, drawing on the latest findings in economics, sociology, computer science, physics, and mathematics. He provides empirical background on networks and the regularities that they exhibit, and discusses random graph-based models and strategic models of network formation. He helps readers to understand behavior in networked societies, with a detailed analysis of learning and diffusion in networks, decision making by individuals who are influenced by their social neighbors, game theory and markets on networks, and a host of related subjects. Jackson also describes the varied statistical and modeling techniques used to analyze social networks. Each chapter includes exercises to aid students in their analysis of how networks function. This book is an indispensable resource for students and researchers in economics, mathematics, physics, sociology, and business.