Prices as Social Facts: A Sociological Approach to Price Setting
Fabien Eloire,
Jean Finez
Abstract:This article examines the issue of prices from a sociological standpoint. We show that, contrary to popular belief, price setting is always the result of social practices. We identify two main perspectives in the relevant literature. The first deals with the central notion of quality: price setting is a matter of judgement, arbitration and equipment. The second focuses on measurement practices, such as valuation and pricing, which occur before or during the transaction. These two complementary perspectives rev… Show more
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