Lucien Karpik

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 how combinations of the numerous and multiform judgment devices can be used to identify different market models, Karpik applies his analytical tools to the functioning of a large number of actual markets, including fine wines, movies, luxury goods, pop music, and legal services.

The Economics of Singularities

Valuing the Unique

Malcolm M. Feeley

Terence C. Halliday

What explains divergences in political liberalism among new nations that shared the same colonial heritage? This book assembles exciting original essays on former colonies of the British Empire in South Asia, Africa and Southeast Asia that gained independence after World War II. The interdisciplinary country specialists reveal how inherent contradictions within British colonial rule were resolved after independence in contrasting liberal-legal, despotic and volatile political orders. Through studies of the longue durée and particular events, this book presents a theory of political liberalism in the post-colony and develops rich hypotheses on the conditions under which the legal complex, civil society and the state shape alternative postcolonial trajectories around political freedom. This provocative volume presents new perspectives for scholars and students of postcolonialism, political development and the politics of the legal complex, as well as for policy makers and publics who struggle to construct and defend basic legal freedoms.

Lucien Karpik

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