The Price You Pay: Price-setting as a Response to Norm Violations in the Market for Champagne Grapes

Contrary to the general view that markets are shaped by economic forces, bargaining power, and the prior relationships between exchange partners, this paper posits that markets can sometimes also be purely socially constructed, in the sense that prices can vary irrespective of the economic value emb...

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Bibliographic Details
Published in:	Administrative science quarterly 2014-03, Vol.59 (1), p.109-144
Main Authors:	Ody-Brasier, Amandine, Vermeulen, Freek
Format:	Article
Language:	English
Subjects:	Bargaining Bargaining power Brands Business structures Buyers Champagne Chief executive officers Classification Corporate groups Economic models Economic theory Economic value Expectations Houses Market prices Market value Markets Merchants Modeling Negotiation Newcomers Norms Organizational behavior Power Prediction Predictions Price theory Prices Pricing policies Qualitative Methods Qualitative research Social conditions & trends Sociology Studies Subsidiaries Subsidiary Supermarkets Value Value (Economics) Vendor supplier relations Villages Vineyards Violations Wineries & vineyards Wines
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