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Free keywords:
Action theory, Economic sociology, Expectations, Firms, Innovations, Markets, Social change
Abstract:
In this chapter, we discuss sociological analyses of expectations in the economy. Recognition of the social constitution of expectations advances the understanding of economic action under conditions of uncertainty and helps to explain key features of modern capitalist societies. The range of applications of the analytical perspective is illustrated by closer examination of three core spheres of capitalist societies: consumption, investment, and innovation. To provide an idea of crucial challenges of the approach, three research questions for the sociological analysis of expectations are presented.
