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Market system dynamics (MSD): A process-oriented review of the literature

Author

Listed:
  • Giuseppe Pedeliento

    (University of Bergamo)

  • Federico Mangiò

    (University of Bergamo)

  • Gabriele Murtas

    (University of Bergamo)

  • Daniela Andreini

    (University of Bergamo)

Abstract

The renewed interest in the market as a unit of analysis has increased adoption of a market system dynamics (MSD) perspective. Since studies drawing on MSD have significant overlaps with other research traditions equally focused on market changes, we trace the theoretical boundaries of the literature on MSD, and unpack its evolution, in order to appreciate conceptual achievements and research directions. Building on change-process theorizing and on a reiterative processual multi-stage research strategy, we conduct a systematic review of the literature on MSD. We organize the findings into three stages of MSD’s maturation–infancy, adolescence, and adulthood–and show that MSD has grown into a market approach that is ever more multi-actor, theoretically-plural, and based on longitudinal methodologies. The existing literature has gradually shifted towards a balance in agency and structure in market change, and towards a more cautious view on the consumer’s role. Under-researched areas are pinpointed, along with research avenues that can further reinforce MSD.

Suggested Citation

  • Giuseppe Pedeliento & Federico Mangiò & Gabriele Murtas & Daniela Andreini, 2023. "Market system dynamics (MSD): A process-oriented review of the literature," AMS Review, Springer;Academy of Marketing Science, vol. 13(3), pages 173-195, December.
    • Handle: RePEc:spr:amsrev:v:13:y:2023:i:3:d:10.1007_s13162-023-00260-8
    DOI: 10.1007/s13162-023-00260-8
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