Marktstabilisierungsprozesse

In this study, the author demonstrates that a variety of uncertainties pervade markets, including those found in market economies, such as detrimental price competition, and uncertainty in market economy cooperation, such as that relating to the quality of products the market trades in. Drawing on new economic sociology, the author shows both theoretically and empirically that such uncertainties can be reduced and even completely dissipated by social factors, which can then lead to the emergence of stable cooperative relations and, consequently, stable markets.