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Session Chair: Mikołaj Pawlak, University of Warsaw
Location:HB.3.18 HAROKOPIO University
70 El. Venizelou Street
17671 Athens, Greece
Building: B, Level: 3.
A “conventional” theory of market dynamics: changing conventions on a regional wine market
Luka Jakelja, Florian Brugger
University of Graz, Austria
For the greater part, economics and (economic) sociology have both focused on static and structural conceptualizations of markets. While classical approaches (Weber, Schumpeter, Polanyi) emphasize the changing nature of Capitalism and Markets, the strength of New Economic Sociology has been to explain the abiding structures of markets. The paper advances the theoretical framework of the „Economie des conventions“– one of the most thriving and original French originating contributions to economic sociology of the last decades. The analytical distinction between institutions and conventions allows incorporating four different market situations: normality, blockage, dynamics and crisis. However, the question of how new conventions and institutions are formed – a central element for understanding the processes of blockage, crisis and change – remains unanswered. By drawing on empirical material derived from qualitative interviews conducted with the main market intermediaries of a regional wine market, it is argued that the incorporation of concepts like: ideas, charisma and “carrier groups” of ideas could advance the explanatory power of the theory of conventions in regard of market dynamics and change.
Relationship management in a personal business. Content trade markets as coordinators of transnational intermediary networks in the TV industry
St. Pölten University of Applied Sciences, Austria
International trade fairs and markets in media industries have a long history dating back to the early modern period in the case of trade in books. Even the relatively new medium of television established its first content markets in the early 1960s. Despite the fact that in recent years digital transformations have had disrupting consequences on the industry, annual content trade markets such as MIPTV/MIPCOM in Cannes or the European Film Market (EFM) in Berlin still or more than ever are an essential element of transnational trade in audiovisual goods.
The paper addresses the research question of what role trade markets play in the present television entertainment industry and focuses on the practices of market participants at these annual events. The paper presented is based on ethnographic fieldwork at MIPCOM in October 2015 and EFM in February 2016. Further, qualitative semi-structured interviews with Austrian market participants, especially acquisition executives of broadcasters and daily market news were analyzed.
A major result is that relationship management and networking is the core activity taking place at and around trade markets. Physical co-presence and face-to-face encounters are emphasized and highly valued by participants as a fundamental condition to act successfully in the future. The identity of a “personal business” is deeply inscribed in the cognitive basis of TV content trade. In this sense content markets act as primary coordinators of different transnational cultural intermediary (Bourdieu 1984) networks and how these are aligned, resulting in specific dominant flows of content. The empirical results strongly connect to the classic new economic sociology and new institutionalism concepts of social embeddedness (Granovetter 1985) and cultural embeddedness (Zukin & DiMaggio 1990).