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Staff Publications

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    'Staff publications' is the digital repository of Wageningen University & Research

    'Staff publications' contains references to publications authored by Wageningen University staff from 1976 onward.

    Publications authored by the staff of the Research Institutes are available from 1995 onwards.

    Full text documents are added when available. The database is updated daily and currently holds about 240,000 items, of which 72,000 in open access.

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Record number 551037
Title Institutionalized Communication in Markets and Firms
Author(s) Dolfsma, Wilfred
Source Journal of Economic Issues 53 (2019)2. - ISSN 0021-3624 - p. 341 - 348.
Department(s) Management Studies
Publication type Refereed Article in a scientific journal
Publication year 2019
Availibility Full text available from 2020-10-03
Keyword(s) communication - firms as institutionalized communication - institutions - markets as institutionalized communication

Abstract: How markets and firms function is critically related to what knowledge and information is exchanged between whom, how quickly. Exchange of (symbolic) information needs to be properly institutionalized in order to be understood by others, on the one hand, but, on the other hand, cannot avoid being ambiguous to some degree as well (Dolfsma et al. 2011). Ambiguity allows for the dissent that allows for innovation in the broadest sense of the term. Institutionalization of communication is community-specific. The tension between institutionalization of and ambiguity in communication explains why innovations cannot depart too much from what is known and accepted in a community to be (ultimately) accepted as a legitimate novelty. The view of markets and firms as settings for institutionalized communication and knowledge exchange offers a perspective that institutional economists are well positioned for to offer insights on.

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