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Author: James E. Rauch
Publisher: Russell Sage Foundation
ISBN: 1610444671
Category : Social Science
Languages : en
Pages : 357
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Book Description
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.
Author: James E. Rauch
Publisher: Russell Sage Foundation
ISBN: 1610444671
Category : Social Science
Languages : en
Pages : 357
Get Book
Book Description
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.
Author: David Easley
Publisher: Cambridge University Press
ISBN: 1139490303
Category : Computers
Languages : en
Pages : 745
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Book Description
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.
Author: Rafael Pass
Publisher: MIT Press
ISBN: 0262039788
Category : Computers
Languages : en
Pages : 263
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Book Description
A graduate-level, mathematically rigorous introduction to strategic behavior in a networked world. This introductory graduate-level text uses tools from game theory and graph theory to examine the role of network structures and network effects in economic and information markets. The goal is for students to develop an intuitive and mathematically rigorous understanding of how strategic agents interact in a connected world. The text synthesizes some of the central results in the field while also simplifying their treatment to make them more accessible to nonexperts. Thus, students at the introductory level will gain an understanding of key ideas in the field that are usually only taught at the advanced graduate level. The book introduces basic concepts from game theory and graph theory as well as some fundamental algorithms for exploring graphs. These tools are then applied to analyze strategic interactions over social networks, to explore different types of markets and mechanisms for networks, and to study the role of beliefs and higher-level beliefs (beliefs about beliefs). Specific topics discussed include coordination and contagion on social networks, traffic networks, matchings and matching markets, exchange networks, auctions, voting, web search, models of belief and knowledge, and how beliefs affect auctions and markets. An appendix offers a “Primer on Probability.” Mathematically rigorous, the text assumes a level of mathematical maturity (comfort with definitions and proofs) in the reader.
Author: Yochai Benkler
Publisher: Yale University Press
ISBN: 9780300125771
Category : Business & Economics
Languages : en
Pages : 532
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Book Description
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.
Author: Dawn Iacobucci
Publisher: SAGE
ISBN: 076190140X
Category : Business & Economics
Languages : en
Pages : 465
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Book Description
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.
Author: Grahame Thompson
Publisher: SAGE
ISBN: 9780803985902
Category : Social Science
Languages : en
Pages : 316
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Book Description
This interdisciplinary reader provides a distinctive introduction to the way social, political and economic life is coordinated. It brings together three quite different models of coordination - markets, hierarchies and networks - and places them into a comparative framework, presenting a comprehensive and insightful overview of social coordination. The articles dealing with each model explore the characteristics of that coordinating mechanism, outlining key theoretical issues and drawing on various empirical examples. The final section shows how these models can be compared and contrasted. It also assesses the respective strengths, weaknesses and limitations of each model. Markets, Hierarchies and Networks is a set
Author: Khalid Mustafa Medani
Publisher: Cambridge University Press
ISBN: 1009257714
Category : Political Science
Languages : en
Pages : 427
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Book Description
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.
Author: Robin Canniford
Publisher: Routledge
ISBN: 1317589637
Category : Business & Economics
Languages : en
Pages : 202
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Book Description
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.
Author: Harrison C. White
Publisher: Princeton University Press
ISBN: 0691187622
Category : Social Science
Languages : en
Pages : 408
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Book Description
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.
Author: Ray-May Hsung
Publisher: Routledge
ISBN: 1134220758
Category : Business & Economics
Languages : en
Pages : 388
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Book Description
One of the "hottest" concepts in international academic social-science research, social capital refers to the ways in which people make use of social networks in "getting ahead". This book presents the€latest contributions and advances in theory and method€in this important field
