Market shaping dynamics: interplay of actor engagement and institutional work

Purpose Combining institutional work and actor engagement (AE) literature, this paper aims to elucidate how the collective action of market shaping occurs through the interplay between market shapers' institutional work and engagement of other market actors. While markets are shaped by actors' purposive actions and recent literature notes the need to also mobilize AE, the underlying process remains nebulous. Design/methodology/approach This paper is conceptual but supported by an illustrative case study: the Winding Tree. This blockchain-based, decentralized travel marketplace shapes a market by decoupling existing resource linkages, creating new ones and stabilizing others through a dynamic, iterative process between the market shaper's institutional work and others' AE. Findings The paper develops a dynamic, iterative framework of market shaping through increased resource density, revealing the interplay between seven types of market shapers' institutional work distilled from the literature and changes in other market actors' engagement dispositions, behaviors and the diffusion of AE through the market. Originality/value This research contributes to the emergent market shaping and market innovation literature by illustrating how the engagement of market actors is a fundamental means of market shaping. Specifically, it advances understanding of how market shapers' institutional work leads to new resource linkages and higher resource density in emergent market systems through AE. The resultant framework offers an original, critical foundation for future market shaping research.

目的 结合制度工作和行为者参与（AE）相关文献，本文旨在阐明市场塑造的集体行动是如何通过市场塑造者的制度工作与其他市场行为者的参与之间的相互作用而发生的。虽然市场是由行为者的有目的行动所塑造的，且近期文献指出也需要调动行为者参与，但潜在的过程仍然模糊不清。 设计/方法/途径 本文是概念性的，但有一个说明性案例研究作为支撑：Winding Tree。这个基于区块链的去中心化旅游市场通过在市场塑造者的制度工作和其他行为者的参与之间进行动态的、迭代的过程，对现有资源联系进行解耦，创建新的联系并稳定其他联系，从而塑造市场。 研究结果 本文通过增加资源密度构建了一个动态的、迭代的市场塑造框架，揭示了从文献中提炼出的七种市场塑造者的制度工作类型与其他市场行为者的参与倾向、行为的变化以及行为者参与在市场中的扩散之间的相互作用。 创新性/价值 这项研究通过阐明市场行为者的参与是市场塑造的一种基本手段，为新兴的市场塑造和市场创新文献做出了贡献。具体而言，它增进了对市场塑造者的制度工作如何通过行为者参与在新兴市场系统中形成新的资源联系和更高的资源密度的理解。由此产生的框架为未来的市场塑造研究提供了一个原创的、关键的基础。