Economics and Sociology of Conventions

economics and sociology of conventions has been established as a transdisciplinary and international institutionalist approach since the 1980ies. starting in the parisian region, economics and sociology of conventions scholars have dealth with the analysis of labor markets and economic classifications, thereby studying coordination processes as based on conventions as logics of coordination, interpretation and evaluation. actors rely on conventions to pursue and realize a common good. in processes of coordination objects (as products), actions (as decisions) and actors create value, which is called “worth”. this institutionalist approach can be regarded as a complex pragmatist institutionalism, which emphasizes the pluralist coexistence of conventions.