Market failures and market framings: Can a market be transformed from the inside?

Files in This Item:
 File SizeFormat
DownloadGeiger_and_Gross_Org_Studies_final_submitted_version.pdf735.49 kBAdobe PDF
Title: Market failures and market framings: Can a market be transformed from the inside?
Authors: Geiger, SusiGross, Nicole
Permanent link: http://hdl.handle.net/10197/9377
Date: 19-Aug-2017
Abstract: How do actors innovate markets in cases of perceived market failures? This paper’s aim is to examine what happens when a market is innovated or, as we call it, ‘redevised’ in situations where public and commercial interests significantly diverge. Market devices can serve an important function in such attempts to innovate markets: they are material and/or social arrangements that are put into place to shape the market in question in certain ways. But can such devices really transform a market from within? To examine this question we trace the history of the Geneva Medicines Patent Pool, a civil society initiative introduced to change pharmaceutical firms’ licensing and collaboration practices in the market for HIV/AIDS medicines. Our empirical results indicate that redevising a market in response to market failures can shift the market’s frames and contribute to altering its practices, but that this is a pragmatic and often lengthy process that is never fully predictable in advance. By attending to the intended and unintended consequences - or misfires - of redevising a market, our study raises important questions around acting in and on the market, market innovation’s’ ontological impact, zooming in and zooming out when studying redevising, and attending to the temporality of market innovation.
Type of material: Journal Article
Publisher: Sage
Journal: Organization Studies
Volume: 39
Issue: 10
Start page: 1357
End page: 1376
Copyright (published version): 2017 Sage
Keywords: Market failureMarket devicePatentsPharmaceutical industryMarket innovationPatent pool
DOI: 10.1177/0170840617717098
Language: en
Status of Item: Peer reviewed
This item is made available under a Creative Commons License: https://creativecommons.org/licenses/by-nc-nd/3.0/ie/
Appears in Collections:Business Research Collection

Show full item record

SCOPUSTM   
Citations 50

7
Last Week
2
Last month
checked on Sep 5, 2020

Page view(s)

1,100
Last Week
3
Last month
45
checked on Nov 26, 2022

Download(s) 20

663
checked on Nov 26, 2022

Google ScholarTM

Check

Altmetric


If you are a publisher or author and have copyright concerns for any item, please email research.repository@ucd.ie and the item will be withdrawn immediately. The author or person responsible for depositing the article will be contacted within one business day.