Solving the problem of exclusionary markets
Solving the problem of exclusionary markets
Social 20 January 2025
Some markets operate under rules designed to exclude certain groups of people. In this episode of Do Better Research, we propose strategies for building more inclusive markets that work for everyone.
Do Better Research is a new video series to disseminate featured studies conducted by Esade faculty and foster a collective reflection on the research process to achieve greater societal impact. In the first episode, we meet Ignasi Martí, director of the Esade Center for Social Innovation, who presents his research on the role of institutional voids in building more inclusive markets—a study that earned the 2024 Academy of Management Journal Impact Award.
Markets are essential instruments for social and economic progress, and everyone should be able to benefit from them. Scholars in strategy and finance have long argued that some markets fail due to the absence of fundamental market institutions, such as property rights or the autonomy of market actors. However, sociology and anthropology push this notion by inviting us to explore what is really at play within these so-called institutional voids.
Mair, J., Martí, I., & Ventresca, M. J. (2012). Building Inclusive Markets in Rural Bangladesh: How Intermediaries Work Institutional Voids. Academy of Management Journal. 55 (4)