How do we place value on goods - and, importantly, why? Valuation and pricing are core issues in the market economy, but understanding of these concepts and their interrelation is weak. In response, The Worth of Goods takes a sociological approach to the perennial but timely question of what makes a product valuable.
Structured in three parts, it first examines value in the broader sense - moral values and how they are formed, and the relations between economic and non-economic values - discussing such matters as the value of an oil spill, the price of a scientific paper, value in ethical consumption, and imaginative value. The second part discusses the issues surrounding valuation in aesthetic markets, specifically wine, fashion models, art, and the creative industries. The third part analyzes valuation in financial markets - credit rating agencies, stock exchange markets, and industrial production.
This pioneering volume brings together leading social scientists to provide a range of theoretical tools and case studies for understanding price and the creation of value in markets within social and cultural contexts and preconditions. It is an important source for scholars in economics, sociology, anthropology, and political science interested in how markets work, and how value is established.

The purpose of this book is to explore new developments in the field of economic sociology. It contains cutting-edge theoretical discussions by some of the world's leading economic sociologists, with chapters on topics such as the economic convention, relational sociology, economic identity, economy and law, economic networks and institutions. The book is distinctive in a number of ways. First, it focuses on theoretical contributions, by pulling together and extending what the contributors believe to be the most important theoretical innovations within their own particular areas of the field. Second, there are contributions by leading economic sociologists from both the US and Europe, which gives the book both wider scope and appeal, while also creating the opportunity for some interesting dialogue between distinct theoretical traditions. The book will be of interest to researchers, Ph.D. students, and advanced students on both side of the Atlantic, and indispensible in advanced economic sociology courses.

Interest in contemporary cultural industries has grown in the past decade, as they take on a greater significance in our increasingly consumer-led society. Focusing on the world of fashion photography, this book presents an interdisciplinary approach in which this and other aesthetic markets, such as advertising, modelling, art, music and more, can be viewed. The main thrust of this groundbreaking book, is in developing a theory for these cultural markets, characterized by insecurity, and where status and aesthetic diversity generate order and price differentiation. In these industries, services and products are offered that are a mix of the aesthetic and the economic, and for fashion photographers such as those studied here, it is necessary to carefully position themselves in the market by developing unique photographic styles and separating themselves from competitors. Yet the markets in which these industries operate differ from the type of exchange markets depicted by neoclassical economists, and therefore cannot be considered using such modes of analysis. Instead Aspers conducts his study using empirical phenomenology, an original approach presented here for the first time, which can be easily used in other empirical studies. He draws on original empirical material; participant observation and interviews generated in New York and Stockholm; which bring a depth of analysis and a relevance to this book which academics, researchers and those with a vested interest in such industries will value. Written by one of the world's brightest young economic sociologists, this fascinating book (previously published in Sweden and enthusiastically received) is endorsed by recognized industry authorities. A noteworthy book, it provides a foothold in the burgeoning sub discipline of economic sociology, and a significant analysis of the economics of the fashion photography industry.

For any market to work properly, certain key elements are necessary: competition, pricing, rules, clearly defined offers, and easy access to information. Without these components, there would be chaos. "Orderly Fashion" examines how order is maintained in the different interconnected consumer, producer, and credit markets of the global fashion industry. From retailers in Sweden and the United Kingdom to producers in India and Turkey, Patrik Aspers focuses on branded garment retailers--chains such as Gap, H&M, Old Navy, Topshop, and Zara. Aspers investigates these retailers' interactions and competition in the consumer market for fashion garments, traces connections between producer and consumer markets, and demonstrates why market order is best understood through an analysis of its different forms of social construction.

Emphasizing consumption rather than production, Aspers considers the larger retailers' roles as buyers in the production market of garments, and as potential objects of investment in financial markets. He shows how markets overlap and intertwine and he defines two types of markets--status markets and standard markets. In status markets, market order is related to the identities of the participating actors more than the quality of the goods, whereas in standard markets the opposite holds true.

Looking at how identities, products, and values create the ordered economic markets of the global fashion business, "Orderly Fashion" has wide implications for all modern markets, regardless of industry.

Interest in contemporary cultural industries has grown in the past decade, as they take on a greater significance in our increasingly consumer-led society. Focusing on the world of fashion photography, this book presents an interdisciplinary approach in which this and other aesthetic markets, such as advertising, modelling, art, music and more, can be viewed. The main thrust of this groundbreaking book, is in developing a theory for these cultural markets, characterized by insecurity, and where status and aesthetic diversity generate order and price differentiation. In these industries, services and products are offered that are a mix of the aesthetic and the economic, and for fashion photographers such as those studied here, it is necessary to carefully position themselves in the market by developing unique photographic styles and separating themselves from competitors. Yet the markets in which these industries operate differ from the type of exchange markets depicted by neoclassical economists, and therefore cannot be considered using such modes of analysis. Instead Aspers conducts his study using empirical phenomenology, an original approach presented here for the first time, which can be easily used in other empirical studies. He draws on original empirical material; participant observation and interviews generated in New York and Stockholm; which bring a depth of analysis and a relevance to this book which academics, researchers and those with a vested interest in such industries will value. Written by one of the world's brightest young economic sociologists, this fascinating book (previously published in Sweden and enthusiastically received) is endorsed by recognized industry authorities. A noteworthy book, it provides a foothold in the burgeoning sub discipline of economic sociology, and a significant analysis of the economics of the fashion photography industry.

The purpose of this book is to explore new developments in the field of economic sociology. It contains cutting-edge theoretical discussions by some of the world's leading economic sociologists, with chapters on topics such as the economic convention, relational sociology, economic identity, economy and law, economic networks and institutions. The book is distinctive in a number of ways. First, it focuses on theoretical contributions, by pulling together and extending what the contributors believe to be the most important theoretical innovations within their own particular areas of the field. Second, there are contributions by leading economic sociologists from both the US and Europe, which gives the book both wider scope and appeal, while also creating the opportunity for some interesting dialogue between distinct theoretical traditions. The book will be of interest to researchers, Ph.D. students, and advanced students on both side of the Atlantic, and indispensible in advanced economic sociology courses.

How do we place value on goods--and, importantly, why? Valuation and pricing are core issues in the market economy, but understanding of these concepts and their interrelation is weak. In response, The Worth of Goods takes a sociological approach to the perennial but timely question of what makes a product valuable.
Structured in three parts, it first examines value in the broader sense--moral values and how they are formed, and the relations between economic and non-economic values-- discussing such matters as the value of an oil spill, the price of a scientific paper, value in ethical consumption, and imaginative value. The second part discusses the issues surrounding valuation in aesthetic markets, specifically wine, fashion models, art, and the creative industries. The third part analyzes valuation in financial markets--credit rating agencies, stock exchange markets, and industrial production.
This pioneering volume brings together leading social scientists to provide a range of theoretical tools and case studies for understanding price and the creation of value in markets within social and cultural contexts and preconditions. It is an important source for scholars in economics, sociology, anthropology, and political science interested in how markets work, and how value is established.

For any market to work properly, certain key elements are necessary: competition, pricing, rules, clearly defined offers, and easy access to information. Without these components, there would be chaos. Orderly Fashion examines how order is maintained in the different interconnected consumer, producer, and credit markets of the global fashion industry. From retailers in Sweden and the United Kingdom to producers in India and Turkey, Patrik Aspers focuses on branded garment retailers--chains such as Gap, H&M, Old Navy, Topshop, and Zara. Aspers investigates these retailers' interactions and competition in the consumer market for fashion garments, traces connections between producer and consumer markets, and demonstrates why market order is best understood through an analysis of its different forms of social construction. Emphasizing consumption rather than production, Aspers considers the larger retailers' roles as buyers in the production market of garments, and as potential objects of investment in financial markets. He shows how markets overlap and intertwine and he defines two types of markets--status markets and standard markets. In status markets, market order is related to the identities of the participating actors more than the quality of the goods, whereas in standard markets the opposite holds true. Looking at how identities, products, and values create the ordered economic markets of the global fashion business, Orderly Fashion has wide implications for all modern markets, regardless of industry.

Unser Leben wird von Markten bestimmt. Sie sind fur die kapitalistischen Volkswirtschaften weltweit konstitutiv und haben von Anfang an viele oeffentliche Debatten ausgeloest. Wahrend Markte fur die Einen der unubertroffene Modus der Handlungskoordination sind, werden sie von Anderen als Quelle vieler gesellschaftlicher UEbel eingestuft und bekampft. Dieses Buch vereint das Wissen uber Markte von Soziologie, OEkonomie und Anthropologie und untersucht systematisch die verschiedenen Formen von Markten, denen wir taglich in unserem Leben begegnen.