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Original: «There are two basic ways market organization is brought about Some combination of the two is usual the case:
- Strategic structuring, informal or formal, whereby social agents, including the state, establish a rule regime regulating market access and transactions
- Emergent structuring, whereby participants discover or adopt certain similar strategies within bounded rationality and situations with certain opportunity structures and incentive structures. Social network and ecological properties result in relatively well-defined aggregate performance characteristics . (es) |
