Ryon Lancaster
Northwestern University
Publications 10
#1Ryon LancasterH-Index: 3
#2Tae-Hyun KimH-Index: 2
Last.Brian Uzzi (NU: Northwestern University)H-Index: 34
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#1Brian UzziH-Index: 34
#2Ryon Lancaster (NU: Northwestern University)H-Index: 3
The determination of prices is a key function of markets, yet sociologists are just beginning to study it. Most theorists view prices as a consequence of economic processes. By contrast, we consider how social structure shapes prices. Building on embeddedness arguments and original fieldwork at large law firms, we propose that a firm's embedded relationships influence prices by prompting private-information flows and informal governance arrangements that add unique value to goods and services. W...
#1Brian UzziH-Index: 34
#2Ryon LancasterH-Index: 3
This article discusses how social exchange relations between producers and consumers affect the prices producers charge their clients in the large corporate law market. The embeddedness framework offers one of several possible sociological accounts of how social behavior affects price setting. It argues that economic actors, to varying degrees, are imbedded in social relations and networks of affiliations that shape the actors' opportunities for value creation in ways that differ from markets or...
#1Brian UzziH-Index: 34
#2Ryon Lancaster (NU: Northwestern University)H-Index: 3
As a complement to the literature on learning in firms, we investigate learning in markets, a nascent area of study that focuses on how learning occurs between, rather than within, firms. The core idea behind our framework is that networks shape knowledge transfer and learning processes by creating channels for knowledge trade and reducing the risk of learning. In developing our framework, we elaborate on the knowledge transfer capabilities of different types of social ties, the informational pr...