Manufacturing of Markets (eBook, PDF)

Legal, Political and Economic Dynamics
Redaktion: Brousseau, Eric

• Format: PDF

Produktbeschreibung

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.

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Produktdetails

• Verlag: Cambridge University Press
• Erscheinungstermin: 22. Mai 2014
• Englisch
• ISBN-13: 9781139950596
• Artikelnr.: 41008782

Inhaltsangabe

Introduction: 1. Manufacturing markets: what it means and why it matters?
Eric Brousseau and Jean-Michel Glachant; Part I. Public and Private
Complementarities in Securing Exchange: Introduction to Part I Eric
Brousseau and Jean-Michel Glachant; 2. Measurement systems as market
foundations: perspectives from historical markets Aashish Velkar; 3. How to
manufacture quality: the diversity of institutional solutions and how they
interact in agrifood markets Marta Fernandez Barcala, Manuel Gonzalez-Diaz
and Emmanuel Raynaud; 4. The law of impersonal transactions Benito
Arruñada; Part II. Path Dependency and Political Constraints in
Establishing Property Rights Systems: Introduction to Part II Eric
Brousseau and Jean-Michel Glachant; 5. 'Manufacturing markets': the
efficiency advantages of grandfathering allocations over auctions Terry L.
Anderson, Ragnar Arnason and Gary D. Libecap; 6. Allocation in air
emissions markets A. Denny Ellerman; 7. Auction versus negotiation in
public procurement: looking for empirical evidence Eshien Chong, Carine
Staropoli and Anne Yvrande-Billon; Part III. The Political Origin of
Competition: Introduction to Part III Eric Brousseau and Jean-Michel
Glachant; 8. Why competitive markets aren't self-actuating: the political
economy of limited access John J. Wallis; 9. The creation of a market for
retail electricity supply Stephen Littlechild; 10. The institutional design
of European competition policy Antonio Manganelli, Antonio Nicita and Maria
Alessandra Rossi; Part IV. The Myopia of the Public Hand: Introduction to
Part IV Eric Brousseau and Jean-Michel Glachant; 11. Third-party
opportunism and the theory of public contracts: operationalization and
applications Marian W. Moszoro and Pablo T. Spiller; 12. The cycling of
power between private and public sectors: electricity generation in
Argentina, Brazil and Chile Witold J. Henisz and Bennet A. Zelner; 13.
Politics and the manufacturing of a transatlantic market for civil aviation
(1944-2007) Yannis Karagiannis and Adrienne Héritier; Part V. The Challenge
of Balancing Public and Private Ordering: Introduction to Part V Eric
Brousseau and Jean-Michel Glachant; 14. The microstructure of the first
emerging markets in Europe in the eighteenth century Larry Neal; 15. Money
reconstructed: Argentina and Brazil after hyperinflation Jérôme Sgard; 16.
For a renewal of financial regulation Michel Aglietta and Laurence Scialom;
Part VI. The Daily Adjustment of Market Technology: Introduction to Part VI
Eric Brousseau and Jean-Michel Glachant; 17. Antitrust liability in the
U.S. for unilateral refusals to deal in intellectual and other property
Howard A. Shelanski; 18. How do firms exercise unilateral market power?
Empirical evidence from a bid-based wholesale electricity market Shaun D.
Mcrae and Frank A. Wolak; 19. Exchanges: the quintessential manufactured
markets Craig Pirrong; 20. Conclusion: tatonnement in the manufacturing of
markets Eric Brousseau and Jean-Michel Glachant; References; Index.