Date:
September 10 (Tuesday), 2024
from 12:40 to 14:00
Topic:
“After the Collapse: Spontaneous Institutionalization and the Emergence of Market Institutions”
Abstract:
We explore how, and under which conditions, market institutions can spontaneously arise after an institutional collapse. Drawing on emergence theory, we develop a multi-level model of institutional emergence after an extreme collapse, where only the individuals’ memories remain from pre-collapse institutions. We start with individuals seeking to transact, looking to decrease cost and increase trust in their transactions. At the micro-level, the multiplication of transactions can trigger processes of amplification-convergence and cancelation, through an activity- and a cultural-cognitive-based driver of institutionalization. At the meso-level, these processes result in the spontaneous emergence of legitimacy and power, organized agents shaping emergence, and the institutionalization of transaction attributes. At the macro-level, the amalgamation of compatible institutionalized attributes leads to the emergence of market institutions, with nine possible institutional infrastructures, which are shaped by the initial conditions of emergence. Our study contributes to the literature by isolating the role of spontaneous processes in institutional dynamics, by identifying the initial conditions necessary for the emergence of market institutions, and by showing how legitimacy and power can spontaneously emerge. We illustrate our reasoning with reference to refugee economies. Keywords: Institutions – Micro-foundations – Emergence theory – Amplification – Convergence – Cancelation – Institutional Creation – Institutional Infrastructure – Legitimacy – Power
Speaker:
Ilir Haxhi
(Associate Professor of Strategy & International Management,
Amsterdam Business School, University of Amsterdam)
Venue:
onsite
IIR Meeting Space (Room#216) of the second floor of the IIR building (onsite)
Organizer:
Masaru Karube
This forum is jointly organized by MIC (Management Innovation Research Center), Hitotsubashi Institute for Advanced Study.
Deadline:
9:00, September 10, 2024
For registration, please click on “IIR Brown bag lunch seminar” below