Economy of conventions: contributions for a sociology of the economic institutions

Abstract

ABSTRACT The paper discusses how the economy of conventions contributes for an institutionalist theory for economic analysis. The central issue is on quality differentiation in economics, highlighting the challenges that the social process of qualification involve in the market studies. Firstly the paper discusses the limits of neoclassical economics and new institutional economics to address this issue. Afterward, it argues this process can be understood from the interfaces between some heterodox theories that have revealed a emergent convergence in the construction of a new paradigm for economic analysis. Since a dialogue between the economy of conventions and the new economic sociology, the paper points to the construction of an analytical framework bringing different definitions of markets, values, conventions, networks, embeddedness and institutions. Key words: Economic sociology; Markets; Values.