The Worth of Goods: Valuation and Pricing in the Economy

Edited by Jens Beckert and Patrik Aspers ()

in OUP Catalogue from Oxford University Press

Abstract: How do we place value on goods - and, importantly, why? Valuation and pricing are core issues in the market economy, but understanding of these concepts and their interrelation is weak. In response, The Worth of Goods takes a sociological approach to the perennial but timely question of what makes a product valuable. Structured in three parts, it first examines value in the broader sense - moral values and how they are formed, and the relations between economic and non-economic values - discussing such matters as the value of an oil spill, the price of a scientific paper, value in ethical consumption, and imaginative value. The second part discusses the issues surrounding valuation in aesthetic markets, specifically wine, fashion models, art, and the creative industries. The third part analyzes valuation in financial markets - credit rating agencies, stock exchange markets, and industrial production. This pioneering volume brings together leading social scientists to provide a range of theoretical tools and case studies for understanding price and the creation of value in markets within social and cultural contexts and preconditions. It is an important source for scholars in economics, sociology, anthropology, and political science interested in how markets work, and how value is established. Contributors to this volume - Patrik Aspers, Max Planck Institute for the Study of Societies, Cologne Jens Beckert, Max Planck Institute for the Study of Societies, Cologne Marion Fourcade, University of California, Berkeley Lucien Karpik, MINES, Paris Tech Peter Gourevitch, University of California, San Diego Marie-France Garcia-Parpet, INRA Ashley Mears, Boston University Olav Velthuis, University of Amsterdam Michael Hutter, Social Science Research Center Berlin (WZB) Akos Rona-Tas, University of California, San Diego Stefanie Hiss, Jena Graduate School Christopher Yenkey, Cornell University Charles Smith, Queens College, CUNY Davide Ravasi, University of Bocconi Violina Rindova, McCombs School of Business, University of Texas at Austin Ileana Stigliani, Imperial College London David Stark, Columbia University

Date: 2011
ISBN: 9780199594658
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