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Between the Gift and the Market: The Economy of Regard.

Abstract:

'The great transformation' from customary exchange to impersonal markets is incomplete. Reciprocal exchange pervades modern societies. it takes the form of 'gifts,' reciprocated without certainty. Reciprocity is driven by the pursuit of 'regard'. Money is avoided in regard exchanges, because it is impersonal. Instead, regard signals are embodied in goods, in services, or in time (attention). The personalization of gifts authenticates the signal. Reciprocal exchange persists in family formatio...

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Avner Offer More by this author
Volume:
3
Series:
Discussion Papers in Economic and Social History
Publication date:
1996-01-05
URN:
uuid:4ae35d65-11fb-488e-a64b-4de30bef6a2d
Local pid:
oai:economics.ouls.ox.ac.uk:14823
Language:
English

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