Economic sociologists have rarely studied organizational reasons why market design processes fail. Drawing on the organizational literature on mistakes and accidents, the paper identifies such reasons for a fatal design decision during the creation of California’s first electricity markets....

This paper discusses sociological analyses of the formation and role of expectations in the economy. Recognition of the social constitution of expectations advances the understanding of economic action under conditions of uncertainty and helps to explain core features of modern capitalist...

This paper addresses the question of what role morally oriented behavior plays in the efficiency of market outcomes. This issue is as controversial in economics as it is in sociology. To get a better understanding of the problems and opportunities involved in morally oriented behavior in...

Illegal markets differ from legal markets in many respects. Although illegal markets have economic significance and are of theoretical importance, they have been largely ignored by economic sociology. In this article we propose a categorization for illegal markets and highlight reasons why...

Although illicit exchange has also been an organized, silent, and ever-present response to harsh economic crisis, only protest and social movements have captured scholars' attention. In order to fill this void, this paper analyzes the emergence of illegal markets under situations of social...

Die zeitgenössische Ökonomisierungstheorie hat moralischen und nachfrageseitigen Wandel als Einflussfaktor für Ökonomisierung bislang stark vernachlässigt. Sie erklärt den derzeitigen Ökonomisierungstrend mit Veränderungen der politischen und unternehmerischen Leitbilder sowie...

French governments are famous for promoting national champions, notably by preventing foreign takeovers, but in 2005-2006, the Villepin administration allowed the New York Stock Exchange to take control of Euronext, a French-led pan-European company that includes the Paris Bourse. By mapping the...

The article provides an overview of the state of the art of sociological research on price formation. The dominant trait of the sociological approach to prices is to understand price formation not as the outcome of individual preferences but as the result of the social and political forces...

Political economy and economic sociology have developed in relative isolation from each other. While political economy focuses largely on macrophenomena, economic sociology focuses on the level of social interaction in the economy. The paper argues that economic sociology can provide a...

Was ist Wirtschaftssoziologie? Die Frage nach Identität dieser soziologischen Teildisziplin ist immer wieder Gegenstand konzeptioneller Ausführungen. In diesem Artikel wählen wir einen anderen Ansatz, indem wir die Beschäftigung der Soziologie mit dem Thema Wirtschaft empirisch untersuchen....