| Description |
1 online resource (xxiii, 523 pages) |
| Contents |
Cover; Half-title; Title page; Copyright information; Table of contents; List of figures; List of tables; List of contributors; Acknowledgments; 1 Introduction; 1.1 Designing markets: an essential policy tool; 1.2 Markets as manufactured devices; 1.2.1 Complex social technologies ... ; 1.2.2 ... designed by trembling hands; 1.3 A set of analytical case studies ... ; 1.4 ... structured into six topics; 1.4.1 The "mechanics" of markets; 1.4.2 Challenges for the "visible hand" of the state; Part I Public and private complementarities in securing exchange; 2 Measurement systems as market foundations |
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2.1 Introduction2.2 The fundamental measurement problem; 2.3 Analyzing measurement systems; 2.4 Quality measurements in British wheat markets; 2.4.1 Measurement issues and de facto solutions; 2.4.2 Quality measurements by commodity exchanges; 2.4.3 Quality from the buyers' perspective; 2.5 Measurement systems as foundational elements; 2.5.1 From inspection to grading: an institutional change; 2.5.2 Endogenous institutional changes; 2.5.3 Measurements and institutional change: impact on trade and markets; 2.6 Conclusions; 3 How to manufacture quality; 3.1 Introduction |
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3.2 The nature of the problem: measuring quality3.2.1 Measurement issues as the core of economic transactions; 3.2.2 Measuring quality and related quality uncertainty; 3.3 Mitigating measurement issues; 3.3.1 Describing the institutional landscape; 3.3.2 "Public ordering" institutional solutions; 3.3.3 "Private ordering" institutional solutions; 3.3.4 "Hybrid" solutions mixing public and private components; 3.4 Interactions among solutions: complements or substitutes?; 3.5 Matching quality dimensions with institutional solutions; 3.6 Conclusions; 4 The law of impersonal transactions |
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4.1 Introduction4.2 The nature of impersonal exchange; 4.3 The information structure of single and sequential exchange; 4.4 The prevalence of sequential exchange; 4.5 Common problem and common solution; 4.6 Difficulties faced by the law of impersonal transactions; Part II Path dependency and political constraints in establishing property rights systems; 5 "Manufacturing markets"; 5.1 Introduction; 5.2 Alternative allocation systems; 5.2.1 Political allocation; 5.2.2 First possession; 5.2.3 Uniform allocation; 5.2.4 Auction |
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5.3 "Manufacturing" markets and resource rents: the efficiency advantages of grandfathering5.4 "Manufacturing markets": the political economy of allocating resource rents and another reason to question the efficiency ... ; 5.4.1 The political economy of allocation; 5.4.2 Tobacco trust fund allocations; 5.5 Conclusion; 6 Allocation in air emissions markets; 6.1 Introduction; 6.2 How air emissions markets are different; 6.3 The potential recipients of allowance value; 6.4 The evolution of allowance allocation; 6.4.1 The early US programs: non-controversial allocations4 |
| Summary |
"Different types of markets exist throughout the world but how are they created? In this book, an interdisciplinary team of authors provide an evolutionary vision of how markets are designed and shaped. Drawing on a series of case studies, they show that markets are far from perfect and natural mechanisms, and propose a new view of markets as social construct, explaining how combinations of economic, political and legal constraints influence the formation and performance of markets. Historical trajectories and interdependencies among institutional dimensions make it difficult to build costless, non-biased co-ordination mechanisms, and there are limitations to public and private attempts to improve the design of markets. The authors show that incomplete and imperfect modes of governance must be improved upon and combined in order for markets to work more efficiently. This timely book will interest practitioners and academics with backgrounds in economics, law, political science and public policy"-- Provided by publisher |
| Bibliography |
Includes bibliographical references and index |
| Notes |
Print version record |
| Subject |
Industrial management.
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Marketing.
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marketing.
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BUSINESS & ECONOMICS -- Industrial Management.
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BUSINESS & ECONOMICS -- Commerce.
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BUSINESS & ECONOMICS -- Marketing -- General.
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BUSINESS & ECONOMICS -- Sales & Selling -- General.
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Industrial management
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Marketing
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Management
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Marketing
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| Form |
Electronic book
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| Author |
Brousseau, Eric, editor
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Glachant, Jean-Michel, editor
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| ISBN |
9781139958042 |
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1139958046 |
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9781107284159 |
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1107284155 |
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9781139960168 |
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1139960164 |
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9781139950596 |
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1139950592 |
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1107677327 |
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9781107677326 |
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