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Reuse Markets - Embedded in Capitalism

Author

Listed:
  • Henrik Egbert

    (Anhalt University of Applied Sciences)

Abstract

The paper addresses the growing popularity of markets for reuse and repair (RR) in a developed economy. The reasons behind the growth of these markets remain an open research question, which could be attributed to changing consumer preferences and/or as an effect of multiple exogenous shocks on societies. The paper contributes to the predominantly anthropological research on the topic by employing a market-oriented entrepreneurial perspective. The methodology involves participant observation by actively engaging as a trader in micro activities to exploit arbitrage opportunities. The findings suggest that the traditional economic model of rational actors is well-suited to analyse individual actions in these markets. It is observed that these markets do not necessarily require integration into complex social constructs. Effective trust-building arrangements with low transaction costs facilitate market transactions between strangers. The research implies the importance of markets at the micro level, especially in times when political actors at the macro level favour market interventions.

Suggested Citation

  • Henrik Egbert, 2024. "Reuse Markets - Embedded in Capitalism," Bulgarian Economic Papers bep-2024-03, Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria // Center for Economic Theories and Policies at Sofia University St Kliment Ohridski, revised Apr 2024.
  • Handle: RePEc:sko:wpaper:bep-2024-03
    as

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    File URL: https://uni-sofia.bg/index.php/eng/content/download/308909/2003572/file/BEP-2024-03.pdf
    File Function: First version, 2024
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    References listed on IDEAS

    as
    1. Henrik Egbert, 2007. "The Culture of a Market: A Case Study of Open-Air Horse Markets," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 163(3), pages 493-502, September.
    2. Endre Sik & Claire Wallace, 1999. "The Development of Open‐air Markets in East‐Central Europe," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 23(4), pages 697-714, December.
    3. Huiwen Gong & Robert Hassink & Christopher Foster & Martin Hess & Harry Garretsen, 2022. "Globalisation in reverse? Reconfiguring the geographies of value chains and production networks [Does Covid-19 Spark the End of Globalisation?]," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 15(2), pages 165-181.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    second-hand markets; reuse and repair activities; economic approach to anthropology; informal market; consumption; eBay Kleinanzeigen;
    All these keywords.

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
    • R22 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Other Demand
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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