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What can we learn about the embeddedness of commercial relationships from the study of powers of attorney?

Author

Listed:
  • Fabien Eloire

    (CLERSÉ - Centre Lillois d’Études et de Recherches Sociologiques et Économiques - UMR 8019 - Université de Lille - CNRS - Centre National de la Recherche Scientifique)

  • Claire Lemercier

    (CSO - Centre de sociologie des organisations (Sciences Po, CNRS) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique)

  • Veronica Aoki Santarosa

    (University of Michigan [Ann Arbor] - University of Michigan System)

Abstract

This working paper gives the preliminary results of a research project on the uses of notarized powers of attorney in four large French commercial cities in the 18th and 19th centuries. Powers of attorney are often considered as symptoms of trust. We use them to test hypotheses on the embeddedness of commercial relationships. We find little support for the idea of an evolution from embedded to anonymous relationships. We therefore explore alternative hypotheses centered on the complementarity between embeddedness and formality; the importance of repeated interactions; and a broad homophily driving merchants to choose fellow merchants as proxies.

Suggested Citation

  • Fabien Eloire & Claire Lemercier & Veronica Aoki Santarosa, 2016. "What can we learn about the embeddedness of commercial relationships from the study of powers of attorney?," SciencePo Working papers Main hal-01358364, HAL.
    • Handle: RePEc:hal:spmain:hal-01358364
    Note: View the original document on HAL open archive server: https://sciencespo.hal.science/hal-01358364
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    References listed on IDEAS

    as
    1. Douglass C. North, 2005. "Introduction to Understanding the Process of Economic Change," Introductory Chapters, in: Understanding the Process of Economic Change, Princeton University Press.
    2. Greif,Avner, 2006. "Institutions and the Path to the Modern Economy," Cambridge Books, Cambridge University Press, number 9780521671347.
    3. Santarosa, Veronica Aoki, 2015. "Financing Long-Distance Trade: The Joint Liability Rule and Bills of Exchange in Eighteenth-Century France," The Journal of Economic History, Cambridge University Press, vol. 75(3), pages 690-719, September.
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