CAS SO 313 Midterm: midterm.docx
28 Feb 2014
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3 main problems of order in markets: actors (who is allowed to transact with who) = individuals licenses to insure that companies are reputable value need to agree on how valuable something is problem of demand ex: segways establishing a way to place the product/service in a known category compare the product to something similar competition and cooperation order in markets is delivered by social macrostructures . Provide guidance for agency agency = ability to act within social structure needed a cognitive frame for a segway not like a bike, but better than walking, etc. with out that you cant participate in the market constitute rather than simply constraint economic action structure vs. agency structures shape actor"s expectations by determining what is legitimate, desirable or legal economic transaction is based on a think layer of expectations on how and what will happen.
