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In the shadow

Illegal Markets and Economic Sociology

Bibliographic Data

ID4237797
AuthorsJens Beckert (0000-0002-0892-9506, Max Planck Institute for the Study of Societies, corresponding author), Frank Wehinger (Max Planck Institute for the Study of Societies)
Year2013
Volume11
Issue1
Pages5-30
Publication date2013-01-01
Peer ReviewedYes
Open AccessNo
TypeARTICLE
VenueSocio-Economic Review (JOURNAL)
Journal identifiersISSN: 1475-1461 • E-ISSN: 1475-147X
PublisherOxford University Press (PUBLISHER • GB)
DOI10.1093/ser/mws020
OpenAlexW2162382261
LanguageEN
Citations received115
References cited64

Although illegal markets have considerable economic significance and are of theoretical importance, they have been largely ignored by economic sociology. In the first part of this article, we propose a categorization for illegal markets. In the second part, the structural characteristics of illegal markets are described along the three coordination problems of valuation, competition and cooperation. By conceptualizing the structure of illegal markets based on general coordination problems, which are also cornerstones in the study of legal markets, we can locate the systematic differences in the functioning of markets that operate illegally. The article concludes by appealing to economic sociology to strengthen research on illegal markets and suggesting areas for future empirical research.

Business · Categorization · Competition (biology) · Economic sociology · Economics · Empirical research · Epistemology · Law and economics · Shadow (psychology) · Social science · Sociology · Valuation (finance) · Art History and Market Analysis · Corruption and Economic Development · Crime, Illicit Activities, and Governance

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Unique citing works115
Citations per year8,21
Citation span2012 - 2026 (15)
Citation velocitycurrent
Highly citedYes
Citation typesNeutral: 103

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