Special Issue - Karoline Krenn (Ed.): Markets and Classifications. Categorizations and Valuations as Social Processes Structuring Markets.
In the last couple of years the discussion on market classifications has received new topicality through the unbounded possibilities offered by digital technologies to track behavioral data. Understanding the social foundations of categories and classification systems is a fundamental problem in sociology. In markets, classifications are present in the variety of goods traded, in quality differentiations and their association to goods, and, also their matching with consumers. From a pure business perspective such marking of market identities is based on objective characteristics. In contrast, it is the aim of social science studies to pay attention to the formation of market categories, to examine the social construction processes underlying these classifications and to demonstrate their contingencies.
In this vein, the contributions to this HSR Special Issue, which come from various theoretical schools such as the new economic sociology or the economics of convention, present recent research across a range of economic settings: financial markets, fashion markets, consumer markets and others. Despite the varieties of markets and national institution settings, essential resemblances show. Among the topics covered: The case of the French impact investment market, arguing for a dual function of judgment devices, demonstrates the close connection between boundary-building and boundary-blurring. A study on Dutch marketing agents reveals that the same actors who promote new classifications have difficulties in implementing these differentiations in their own performances. The example of self-categorizations in the British ethical fashion industry shows that the relevance of classifications is connected to reputation and power. And, analyses into the US-credit market discuss the off-label of classifications and its adverse societal consequences.
Furthermore this HSR Special Issue contains a Mixed Issue with two articles.