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Emergence of Market Orders: Audience Interaction and Vanguard Influence

Koçak, Ö; Hannan, M.T.; Hsu, G.

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Authors

Ö Koçak

M.T. Hannan

G. Hsu



Abstract

Research in the sociology of markets finds that shared meanings facilitate valuation and exchange by providing frameworks for perceiving and evaluating products and producers. Whereas studies of local sensemaking explain how meanings emerge in market interaction, and macro sociological accounts explain how meanings embodied in conventions, structures, and institutions are used in markets, understanding of the links between these two levels of analysis remains underdeveloped. In this paper, we propose a theory of how engagement and influence at the micro level gives rise to conventional labels and categories. Our theory proposes three processes through which audiences in markets come to share meanings: (i) through interaction among the audience; (ii) through influence of vanguard audience members on lay audiences; and (iii) through vanguard influence on authorities. We investigate some of the propositions on label use and category differentiation in 23 product categories on eBay.

Citation

Koçak, Ö., Hannan, M., & Hsu, G. (2014). Emergence of Market Orders: Audience Interaction and Vanguard Influence. Organization Studies, 35(5), 765-790. https://doi.org/10.1177/0170840613511751

Journal Article Type Article
Online Publication Date Dec 20, 2013
Publication Date May 1, 2014
Deposit Date Jul 20, 2015
Publicly Available Date Jul 29, 2015
Journal Organization Studies
Print ISSN 0170-8406
Electronic ISSN 1741-3044
Publisher SAGE Publications
Peer Reviewed Peer Reviewed
Volume 35
Issue 5
Pages 765-790
DOI https://doi.org/10.1177/0170840613511751
Keywords Categories, Conventions, Labels, Sociology of markets.
Public URL https://durham-repository.worktribe.com/output/1434562

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Copyright Statement
Koçak, Ö. and Hannan, M. T. and Hsu, G. (2014) 'Emergence of market orders : audience interaction and vanguard influence.', Organization studies., 35 (5). pp. 765-790. Copyright © 2013 The Author(s). Reprinted by permission of SAGE Publications.




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