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Edited by Olivier Favereau and Emmanuel Lazega

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Emmanuel Lazega and Olivier Favereau

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Conventions and Structures in Economic Organization

Markets, Networks and Hierarchies

Edited by Olivier Favereau and Emmanuel Lazega

This book contributes to the current rapprochement between economics and sociology. It examines the fact that individuals use rules and interdependencies to forward their own interests, while living in social environments where everyone does the same. The authors argue that to construct durable organizations and viable markets, they need to be able to handle both. However, thus far, economists and sociologists have not been able to reconcile the relationship between these two types of constraints on economic activity.