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Valuing the Unique : the Economics of Singularities by Karpik, Lucien. is a nonfiction available to read on EtoBox.

What is Valuing the Unique : the Economics of Singularities about?

In this landmark work of economic sociology, Lucien Karpik introduces the theory and practical tools needed to analyze markets for singularities. Singularities are goods and services that cannot be studied by standard methods because they are multidimensional, incommensurable, and of uncertain quality. Examples include movies, novels, music, artwork, fine wine, lawyers, and doctors. "Valuing the Unique" provides a theoretical framework to explain this important class of products and markets that for so long have eluded neoclassical economics. With this innovative theory - called the economics of singularities - Karpik shows that, because of the uncertainty and the highly subjective valuation of singularities, these markets are necessarily equipped with what he calls 'judgment devices' - such as labels, brands, guides, critics, and rankings - which provide consumers with the credible knowledge needed to make reasonable choices. He explains why these markets are characterized by the primacy of competition by qualities over competition by prices, and he identifies the conditions under which singularities are constructed or are in danger of losing their uniqueness. After demonstrating

Who reads Valuing the Unique : the Economics of Singularities?

Author

Karpik, Lucien.

Publisher

Princeton University Press, c2010.

Published

2010

Language

EN

ISBN

9780691137100

Category

nonfiction

Subjects

Business, Sociology, Economics

Rating

3.67 / 5 (5 ratings)

Updated

2026-03-14