Keeps Up the Pace by Etzkorn M.

By Etzkorn M.

We spend an afternoon with Linda Raschke and know about her buying and selling kind, day-by-day industry routine and the problem of driving a horse in a circle.

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4 DISCUSSION: NO BLACK BOX, NO BLACK HOLE Emerson (1981) and Gouldner (1960) conceive exchange relationships as being predicated upon the dependence of two parties on each other’s resources. In a situation of dispersed resources, exchange becomes a necessary condition for resource combination (Moran and Ghosal 1996; Nahapiet and Ghosal 1998; Tsai and Ghosal 1998). g. Heath 1976). The giving of gifts is a way of conferring material benefit on each other (Sherry 1983). Ostensibly, there is no expectation of equivalent and formal return ([Beals 1970] from Sherry 1983).

As Zucker (1986) argues, creation of trust is implicit in the expectation of a counter-gift in gift exchange; it should not become explicit, however (Bourdieu 1992, Darr 2003). It is, nevertheless, this equity over the longer-term that makes the exchange mutually beneficial and therefore its existence and continuance is reasonable (Cook and Emerson 1984). Enforcement is self-regulating, since, between equals, if one partner fails to reciprocate, the other actor is likely to discontinue the exchange (Nye 1979).

In many exchanges, then, flows of information and communication are involved: x’a x’b and y’b y’a – the dashed lines. 1 ‘Simple’ market exchange Source: Boulding 1981. The gift is then that exchange in which one of the commodity flows is zero, for instance yb = ya = 0. 2. At some later occasion, A will expect B to reciprocate, but reciprocation may not occur and the value of that which is reciprocated may not ‘objectively’ be similar or the same. There is, thus, considerable uncertainty involved in gift exchange.

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