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Product Categories as Judgment Devices: The Moral Awakening of the Investment Industry

Author

Listed:
  • Arjaliès, Diane-Laure

    (Ivey Business School at Western University)

  • Durand, Rodolphe

    (HEC Paris)

Abstract

Product categories are more than classification devices that organize markets; when reflecting market actors' purposes, they are also judgment devices. Taking stock of the literature on product categories and drawing on the distinction between the faculties of knowing and judging, we elaborate a framework that accounts for how and why market actors include or exclude normative attributes in a product category definition. Based on a field study of the development of Socially Responsible Investment (SRI) funds in France, we describe the phases and conditions of a judgment framework for category definition, for both established and nascent categories. We discuss implications for research on product categories and the workings of markets more broadly.

Suggested Citation

  • Arjaliès, Diane-Laure & Durand, Rodolphe, 2018. "Product Categories as Judgment Devices: The Moral Awakening of the Investment Industry," HEC Research Papers Series 1325, HEC Paris.
  • Handle: RePEc:ebg:heccah:1325
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    Keywords

    Categories; Purpose; Norms; Morals; Markets; Investment Industry; Socially Responsible Investment (SRI);
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
    • Z10 - Other Special Topics - - Cultural Economics - - - General
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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