The Economics of Singularities
Buch, Englisch, 296 Seiten, Format (B × H): 155 mm x 233 mm, Gewicht: 416 g
ISBN: 978-0-691-13710-0
Verlag: Princeton University Press
In this landmark work of economic sociology, Lucien Karpik introduces the theory and practical tools needed to analyze markets for singularities. Singularities are goods and services that cannot be studied by standard methods because they are multidimensional, incommensurable, and of uncertain quality. Examples include movies, novels, music, artwork, fine wine, lawyers, and doctors. Valuing the Unique provides a theoretical framework to explain this important class of products and markets that for so long have eluded neoclassical economics. With this innovative theory--called the economics of singularities--Karpik shows that, because of the uncertainty and the highly subjective valuation of singularities, these markets are necessarily equipped with what he calls "judgment devices"--such as labels, brands, guides, critics, and rankings--which provide consumers with the credible knowledge needed to make reasonable choices. He explains why these markets are characterized by the primacy of competition by qualities over competition by prices, and he identifies the conditions under which singularities are constructed or are in danger of losing their uniqueness. After demonstrating how combinations of the numerous and multiform judgment devices can be used to identify different market models, Karpik applies his analytical tools to the functioning of a large number of actual markets, including fine wines, movies, luxury goods, pop music, and legal services.
Fachgebiete
Weitere Infos & Material
List of Illustrations and Tables ix
Preface xi
Part One: An Overlooked Reality
Chapter One: The Problem 3
Chapter Two: Singularities 10
What Are Singularities? 10
A Preliminary Journey 13
The Market of Psychoanalysis 15
Two Models of Singularity 16
Chapter Three: Do We Need Another Market Theory? 21
What Mainstream Economics Could Only Ignore 21
What the "New Economics" Chose to Ignore 23
Part Two: Tools for Analysis
Chapter Four: Judgment 35
Can Economic Analysis Ignore Information? 35
Decision and Judgment 36
What Is Judgment? 39
Chapter Five: Judgment Devices 44
Devices Are Representatives 46
Devices Are Cognitive Supports 49
Devices Are Active Forces 51
Chapter Six: Trust Devices 55
Formal Analysis 57
Substantive Analysis 58
Chapter Seven: Homo singularis 67
Value and Instrumentality 68
Shopping 73
The Red Michelin Guide: A Paper Engine 77
How Many Ninth Symphonies Did Beethoven Compose? 80
Chapter Eight: The Metamorphosis of Singularities 87
The Weight of Words 88
Can Sameness Engender Incommensurability? 89
Chapter Nine: The Regimes of Economic Coordination 96
A Classification of the Economic Coordination Regimes 97
Consumer Commitments and Coordination Regimes 103
Interlude 106
Part Three: Economic Coordination RegimesImpersonal Devices Regimes 131
Chapter Ten: The Authenticity Regime 133
The Market of Fine Wines 135
The Hachette and the Parker Guides to Wine 138
The Intelligentsia, Connoisseurs, and the Layman 141
Vulnerability of the French Fine- Wines Market? 144
Chapter Eleven: The Mega Regime 148
Megafilms 148
The Luxury Megafirm 157
The Megabrand 163
Chapter Twelve: The Expert- Opinion Regime 167
Literary Prizes 167
Trendsetters and Gatekeepers 170
Public Quality- Rating Devices 171
Chapter Thirteen: The Common- Opinion Regime 174
Songs 175
Adjustment by the Charts 177
Personal Devices Regimes 181
Chapter Fourteen: The Network- Market 183
The Personal Network 183
The Trade Network 185
The Practitioner Network 186
Chapter Fifteen: The Reticular Coordination Regime 188
Coordination by Shared Convictions 188
Coordination by Belief in Miracle Workers 191
Chapter Sixteen: The Professional Coordination Regime 195
Professional Regime Variants 196
Legal- Services Coordination Regime Variants 203
Chapter Seventeen: Prices 209
Concordance 211
Disproportion 219
Part Four: Finale
Chapter Eighteen: The Historicity of Singularities 229
The Rule of Product Renewal 232
Desingularization of Personalized Services 236
Desingularization of Pop Music 242
Chapter Nineteen: Conclusion: Economics of Singularities and Individualism 255
On Individualism 256
Singularities and Individualism 261
Index 265
