CoChat
Sign Up
Cited by 1,512Economic Theory and InstitutionsManagement and Organizational StudiesOutsourcing and Supply Chain Management

The DOI matches its Crossref record; 156 of the 160 references it cites were found in a registry or an index.

Market, Hierarchy, and Trust: The Knowledge Economy and the Future of Capitalism

Adler, Paul S.·2001·Organization Science
DOI 10.1287/orsc.12.2.215.10117
Open this paper in CoChat — free account

Abstract

Recent conceptualizations of trends in the structure of U.S. industry have focused on the relative importance of markets, hierarchies, and hybrid intermediate forms. This paper advances the discussion by distinguishing three ideal-typical forms of organization and their corresponding coordination mechanisms: market/price, hierarchy/authority, and community/trust. Different institutions combine the three forms/mechanisms in different proportions. Economic and organizational theory have shown that, compared to trust, price and authority are relatively ineffective means of dealing with knowledge-based assets. Therefore, as knowledge becomes increasingly important in our economy, we should expect high-trust institutional forms to proliferate. A review of trends in employment relations, interdivisional relations, and interfirm relations finds evidence suggesting that the effect of growing knowledge-intensity may indeed be a trend toward greater reliance on trust. There is also reason to believe that the form of trust most effective in this context is a distinctively modern kind—“reflective trust”—as opposed to traditionalistic, “blind” trust. Such a trend to reflective trust appears to threaten the privileges of currently dominant social actors, and these actors' resistance, in combination with the complex interdependencies between price, authority, and trust mechanisms, imparts a halting character to the trend. But the momentum of this trend nevertheless appears to be self-reinfo…

Overview

Integrity signals

Registry

Crossref · 10.1287/orsc.12.2.215.10117

Cites

156 of 156 references verified0 citation errors · 0 not checkable

Statistics

Recomputing p-values needs the paper’s full text.

Verification

Claims the paper makes

This paper’s full text isn’t openly available, so its claims and self-check weren’t run. The registry and citation checks still apply.

Claims other papers make about this one

Each is checked against this paper’s own text: does it say what the citing paper says it does?

Citations

Cites

Show all 160 references

Research works printed but not linked: 30

  1. 10.2307/3105907 · DOI
  2. Adler P. S., 1997, Perspectives on Work, 61
  3. Adler P. S., 1992, Advances in Global High-Technology Management: Top Management and Executive Leadership in High Technology, 2, 49
  4. Alchian A. A., 1972, Amer. Econom. Rev., 62, 777
  5. Barnes L. B., 1981, Harvard Bus. Rev., 59, 107
  6. Bennis, 1964, Harvard Bus. Rev.
  7. 10.1287/mnsc.41.9.1471 · DOI
  8. Birch, 1987, Job Creation in America
  9. Bromiley Philip, 1995, Research on Negotiations in Organizations
  10. Collins J. C., 1994, Built to Last
  11. Davenport T. H., 1998, Working Knowledge
  12. Earl, 1999, Sloan Management Rev., 40, 29
  13. Gates, 1998, The New Yorker, 34
  14. Hammer, 1996, Beyond Reengineering
  15. Harvey, 1990, The Condition of Modernity
  16. Helper S., 1995, Sloan Management Rev., 36, 77
  17. Hirschman A. O., 1982, J. Econom. Literature, 20, 1463
  18. Kaplan R. S., 1984, The Accounting Rev.
  19. Lawler E. E., 1998, Strategies for High Performance Organizations
  20. Marx K., 1973, Grundrisse: Foundations of Political Economy
  21. Marx K., 1959, Marx and Engels Basic Writings on Politics and Philosophy
  22. Paine Thomas, 1951, The Rights of Man
  23. Powell W., 1990, Res. in Organ. Behavior, 12, 295
  24. Prahalad C. K., 1990, Harvard Bus. Rev., 86, 79
  25. Rosenberg, 1964, Oxford Bull. Econom. Statist., 26, 59
  26. Salter M. S., 1983, Harvard Bus. Rev., 51, 94
  27. Stiglitz J. E., 1994, Whither Socialism?
  28. Stinchcombe, 1985, Organization Theory and Project Management
  29. Walzer, 1999, Dissent, 46, 62
  30. Zucker, 1986, Res. Organ. Behavior, 8, 53

Cited by

Sorted by citations

See all 1,512

Related

Metadata

Authors
Adler, P. S.
Affiliations
University of Southern California (US)
Corresponding author
Adler, Paul S.
ORCID
Adler, Paul S.
Venue
Organization Science
Publisher
Institute for Operations Research and the Management Sciences (INFORMS)
Published
2001-04
Volume
12
Issue
2
Pages
215-234
ISSN
  • 1047-7039 (ISSN-L)
  • 1526-5455
DOI
10.1287/orsc.12.2.215.10117
OpenAlex
W3122097470
Cited by
1,512
References
160
Citations by year
2026: 23 · 2025: 23 · 2024: 31 · 2023: 31 · 2022: 72 · 2021: 68 · 2020: 56 · 2019: 61 · 2018: 68 · 2017: 82 · 2016: 83 · 2015: 83 · 2014: 65 · 2013: 90 · 2012: 91
FWCI
77.99
Type
journal article
Language
en
Open access
closed
Locations
Organization Science (publishedVersion)
Topics
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Theory and Institutions
  • Social Sciences › Business, Management and Accounting › Organizational Behavior and Human Resource Management › Management and Organizational Studies
  • Social Sciences › Business, Management and Accounting › Management Information Systems › Outsourcing and Supply Chain Management
Keywords
knowledge economy, trust, market hierarchy, coordination mechanisms, blind trust, knowledge assets, employment relations, inter-firm relationships, post-capitalism, capitalism, organizational forms, institutional change

About these checks

Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.

Statistics and arithmetic are recomputed, not judged.

Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.

What counts as a claim ›How we measure confidence ›How we check this ›

Are you an author, or do you see a problem with this page? Request a review