This article explores the significance of status processes for generating and reproducing hierarchy among producers in a market. It develops a conception of a market as a status order in which each producer's status position circumscribes the producer's actions by providing a…
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Underwriting · Competition (biology) · Order (exchange) · Position (finance) · Hierarchy · Industrial organization · Revenue · Business
# A Status-Based Model of Market Competition
> OpenAlex Metadata Hub · https://openalex.org/W2076355090
## Bibliographic
- **DOI:** 10.1086/230091
- **Year:** 1993
- **Citations:** 2443
- **Open Access:** No (closed)
- **License:** —
- **Source:** https://doi.org/10.1086/230091
## Authors
- Joel M. Podolny
## Abstract
This article explores the significance of status processes for generating and reproducing hierarchy among producers in a market. It develops a conception of a market as a status order in which each producer's status position circumscribes the producer's actions by providing a unique cost and revenue profile for manufacturing a good of a given level of quality. An examination of pricing behavior among investment banks in the underwriting of corporate securities provides impirical support for this status-based model of market competition. Extension are discussed.
## Keywords
Underwriting, Competition (biology), Order (exchange), Position (finance), Hierarchy, Industrial organization, Revenue, Business, Quality (philosophy), Market competition, Investment (military), Microeconomics, Economics, Actuarial science, Market economy, Finance
## Concepts
- Underwriting
- Competition (biology)
- Order (exchange)
- Position (finance)
- Hierarchy
- Industrial organization
- Revenue
- Business
- Quality (philosophy)
- Market competition
- Investment (military)
- Microeconomics
- Economics
- Actuarial science
- Market economy
- Finance
- Biology
- Epistemology
- Law
- Politics
- Ecology
- Philosophy
- Political science
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*Metadata only — full text not imported unless Open Access license permits.*
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Tóm lược học thuật (đã diễn giải): This article explores the significance of status processes for generating and reproducing hierarchy among producers in a market. It develops a conception of a market as a status order in which each producer's status position circumscribes the producer's actions by providing a unique cost and revenue profile for manufacturing a good of a given level of quality. An examination of pricing behavior among investment banks in the underwriting of corporate securities provides impirical support for this status-based model of market competition. Extension are discussed.
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1. This article explores the significance of status processes for generating and reproducing hierarchy among producers in a market.
2. It develops a conception of a market as a status order in which each producer's status position circumscribes the producer's actions by providing a unique cost and revenue profile for manufacturing a good of a given level of quality.
3. An examination of pricing behavior among investment banks in the underwriting of corporate securities provides impirical support for this status-based model of market competition.
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