Journal
SOCIO-ECONOMIC REVIEW
Volume 11, Issue 1, Pages 5-30Publisher
OXFORD UNIV PRESS
DOI: 10.1093/ser/mws020
Keywords
illegal markets; sociology of markets; markets; criminology; economic sociology; informal economy; valuation; cooperation; competition
Categories
Ask authors/readers for more resources
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.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available