Session Summary

Session Number:183
Session ID:S46
Session Title:Constructing Markets: The Economic Sociology of Organizations and Strategy
Short Title:Constructing Markets
Session Type:Showcase Symposium
Hotel:Hyatt West
Floor:LL1
Room:Water Tower
Time:Monday, August 09, 1999 12:20 PM - 2:10 PM

Sponsors

BPS  (Ming-Jer Chen)BPS99@wharton.upenn.edu (215) 898-0018 
OMT  (Joseph Porac)j-porac@staff.uiuc.edu (217) 244-7969 

General People

Chair Dacin, M. Tina Texas A&M U. tdacin@tamu.edu (409) 845-4882 
Discussant Rao, Hayagreeva  Emory U. Hayagreeva_Rao@bus.emory.edu (404)-727-2753 

Submissions

Cartel Stability and Administered Prices 
Presenter Baker, Wayne E. U. of Michigan wayne_baker@ccmail.bus.umich.edu (734)-764-2306 
Presenter Cheney, Eric  U. of Massachusetts, Amherst cheney@soc.umass.edu (413)-545-0572 
Presenter Faulkner, Robert R. U. of Massachusetts, Amherst faulkner@soc.umass.edu (413)-545-0572 
Presenter Fisher, Gene A. U. of Massachusetts, Amherst Fisher@soc.umass.edu (413)-545-0572 
Constructing Markets of Affiliation: The Embeddedness of Alliance Dynamics 
Presenter Dacin, M. Tina Texas A&M U. tdacin@tamu.edu (409) 845-4882 
Re-Inventing Coffee: The Construction of the Specialty Coffee Market 
Presenter Rindova, Violina P. U. of Washington vrindova@u.washington.edu (206) 221-5324 
The Social Construction of Venture Capital Finance in Silicon Valley 
Presenter Suchman, Mark C. U. of Wisconsin, Madison suchman@ssc.wisc.edu (608) 262-6261 
Notes on the Sociology of Market Making: The Case of the Availability and Cost of Financial Capital in Mid-Market Banking 
 Uzzi, Brian  Northwestern U. uzzi@nwu.edu (847) 491-8072 

Abstract

This symposium brings together organization theory and strategy scholars to explore the construction of markets from an economic sociology perspective. The meaning of markets and mechanisms for their construction differ across these two domains. Many strategy scholars draw from economics and view markets as arenas for the transaction of prices and efficient exchange of resources. Drawing from sociology, a large segment of organization theorists view markets as social constructions. From this perspective, making a market is more than the exchange of resources in that it involves the ongoing definition and re-definition of resources by social actors as well. An economic sociology perspective on the construction of markets acknowledges the importance of both of these approaches. Economic sociologists offer a variety of mechanisms that underlie the structuring of markets including the role of powerful actors, legal and regulatory pressures, networks, social ties, and shared cultural understandings. The papers to be presented offer a variety of approaches and methodologies in exploring the diversity of market definitions and their construction. Central questions include: What is a market? What strategies are utilized in market construction? How does context impact variation in market definitions and market construction? The papers examine the construction of financial and consumer markets as well as markets of affiliation and offer important empirical advances in the economic sociology of organizations and strategy. The discussant will offer constructive analysis and engage the audience in a discussion that generates debate on the questions identified above.