Action Theory

In this chapter, we discuss sociological analyses of expectations in the economy. Recognition of the social constitution of expectations advances the understanding of economic action under conditions of uncertainty and helps to explain key features of modern capitalist societies. The range of applications of the analytical perspective is illustrated by closer examination of three core spheres of capitalist societies: consumption, investment, and innovation. To provide an idea of crucial challenges of the approach, three research questions for the sociological analysis of expectations are presented.

Together with Jens Beckert we contributed a chapter to a new Handbook of Economic Sociology for the 21st Century, edited by Andrea Maurer. The hardcover version has just arrived, so the ebook should be available soon. A preprint of our chapter has been published as an MPIfG discussion paper. ...

A new discussion paper in the MPIfG’s series on the role of the future in economic action with J. Beckert. A revised version will be published in the Handbook of Economic Sociology for the 21st Century (Springer Nature, 2020, edited by Andrea Maurer). ...