Embeddedness and Price Formation in the Corporate Law Market
Abstract
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...
Paper Details
Title
Embeddedness and Price Formation in the Corporate Law Market
Published Date
Jun 1, 2004
Journal
Volume
69
Issue
3
Pages
319 - 344
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History