IDEAS home Printed from https://ideas.repec.org/h/elg/eechap/23690_4.html
   My bibliography  Save this book chapter

The market as an institution

In: Entrepreneurship and the Market Economy

Author

Listed:
  • .

Abstract

This chapter presents a detailed examination of the concept of a market and discusses the different institutional forms that a market can take. The term ‘market’ has different meanings in different contexts. A market was originally a forum, or central place, at which buyers and sellers met up. In the medieval period larger markets developed at ports and major administrative or religious centres. Later they expanded into industrial districts close to mining areas. The standard exposition of market theory is due to Alfred Marshall. The theory of entrepreneurship challenges the conventional interpretation of his model and suggests a very different interpretation instead. This alternative interpretation is elaborated in Chapters 6-9 of the book.

Suggested Citation

  • ., 2024. "The market as an institution," Chapters, in: Entrepreneurship and the Market Economy, chapter 4, pages 79-98, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:23690_4
    as

    Download full text from publisher

    File URL: https://www.elgaronline.com/doi/10.4337/9781035341542.00010
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:elg:eechap:23690_4. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Darrel McCalla (email available below). General contact details of provider: http://www.e-elgar.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.