What can we learn about the embeddedness of commercial relationships from the study of powers of attorney?

Fabien Eloire (), Claire Lemercier () and Veronica Aoki Santarosa
Additional contact information
Fabien Eloire: CLERSÉ - Centre Lillois d’Études et de Recherches Sociologiques et Économiques - UMR 8019 - Université de Lille - CNRS - Centre National de la Recherche Scientifique
Claire Lemercier: CSO - Centre de sociologie des organisations (Sciences Po, CNRS) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique
Veronica Aoki Santarosa: University of Michigan [Ann Arbor] - University of Michigan System

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Abstract: This working paper gives the preliminary results of a research project on the uses of notarized powers of attorney in four large French commercial cities in the 18th and 19th centuries. Powers of attorney are often considered as symptoms of trust. We use them to test hypotheses on the embeddedness of commercial relationships. We find little support for the idea of an evolution from embedded to anonymous relationships. We therefore explore alternative hypotheses centered on the complementarity between embeddedness and formality; the importance of repeated interactions; and a broad homophily driving merchants to choose fellow merchants as proxies.

Keywords: power of attorney; form of proxy; merchants; procuration; mandat; notaires (search for similar items in EconPapers)
Date: 2016-03-01
New Economics Papers: this item is included in nep-his, nep-hme and nep-soc
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