IDEAS home Printed from https://ideas.repec.org/p/ssa/lemwps/2003-26.html
   My bibliography  Save this paper

On the Complexities and Limits of Market Organization

Author

Listed:
  • Richard R. Nelson

Abstract

The last quarter-century has seen the rise of an almost religious belief in the efficacy of market organization of economic activity. While there are strong empirically supported reasons for a bias toward market organization, particularly considering the alternatives, there are many areas of economic, social, and political activity where simple market organization is highly problematic. When we use markets in these areas, market organization tends to be supplemented by regulation and other nonmarket structures. There are a number of areas where we fence out markets, and use other forms of organization and governance. There used to be in economics a strong understanding of the limits of market organization, and the complex structures that in many cases were needed if markets were to work well. The purpose of this essay is to rekindle this understanding.

Suggested Citation

  • Richard R. Nelson, 2003. "On the Complexities and Limits of Market Organization," LEM Papers Series 2003/26, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    • Handle: RePEc:ssa:lemwps:2003/26
    as

    Download full text from publisher

    File URL: http://www.lem.sssup.it/WPLem/files/2003-26.pdf
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Srinivas, Smita, 2009. "Industry policy, technological change, and the state," MPRA Paper 52691, University Library of Munich, Germany.
    2. Voxi Heinrich Amavilah, 2005. "Solow and the Native Americans: Technological Residuals and the Economic Performance of U.S. Native American Economies," Development and Comp Systems 0505008, University Library of Munich, Germany.
    3. Soete, Luc, 2019. "Science, technology and innovation studies at a crossroad: SPRU as case study," Research Policy, Elsevier, vol. 48(4), pages 849-857.

    More about this item

    Keywords

    Markets; Regulation; Public Support.;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    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:ssa:lemwps:2003/26. 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: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/labssit.html .

    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.