Managing (Un)certainty in the Japanese antique art trade – how economic and social factors shape a market
Bibliographic Data
| ID | 6195280 |
|---|---|
| Authors | Harald Conrad (0000-0002-5667-6160, corresponding author) |
| Year | 2016 |
| Volume | 28 |
| Issue | 2 |
| Pages | 233-254 |
| Publication date | 2016-04-02 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Japan Forum (JOURNAL) |
| Journal identifiers | ISSN: 0955-5803 • E-ISSN: 1469-932X |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/09555803.2015.1099557 |
| OpenAlex | W2280210239 |
| Language | EN |
| Citations received | 1 |
| References cited | 26 |
Market actors are commonly faced with solving three distinct coordination problems as sources of uncertainty. How should they value the objects of their trade, how can they shield themselves from the competition, and with whom and how do they cooperate? This article investigates how Japanese antique art dealers confront these issues. While offering a rich description and analysis of a hitherto understudied Japanese market, the article shows how economic and social issues are closely intertwined. It contributes to our understanding of behaviour in a Japanese market in three ways: Firstly, it underscores how inclusion/exclusion, status, reputation, networks and hierarchies constitute a field that allows market exchanges to exist in the first place, while also channelling, and being impacted by these market exchanges. Secondly, contrary to neoclassical economic theory, where the idea of value has largely been abandoned, the findings highlight the importance of distinguishing between notions of value and price in the understanding of markets. Thirdly, the article shows how market actors actively shape market arrangements to address the specific challenges of their domain. In the case of the Japanese antique art market these challenges include high risks of fakes, a limited quantity of high quality material, market outsiders, and dealers with deep pockets
Antique · Certainty · Economics · Factor market · Market economy · Nonmarket forces · Reputation · Social science · Sociology · Art History and Market Analysis · Management and Organizational Studies · Wine Industry and Tourism
Value in Markets
Morals and Markets. the Development of Life Insurance in the United States
Valuing the Unique
A Theory of Auctions and Competitive Bidding
Case Study Research
Japan's Network Economy
A Theory of Fields
Art, Tea, and Industry
Constructing a Sociology of the Arts
Ordering competition
Where do prices come from? Sociological approaches to price formation
Price as a Market Device
Embeddedness in the Making of Financial Capital
From Selling Tea to Selling Japaneseness
British Factory-Japanese Factory. The Origins of National Diversity in Industrial Relations
The Sociology of Markets
A Status-Based Model of Market Competition
Symbolic meanings of prices
The social order of markets
Electric charges
| Unique citing works | 1 |
|---|---|
| Citations per year | 0,33 |
| Citation span | 2023 - 2023 (1) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 1 |