Economic Valuation

This chapter deals with economic valuation. Economic value is inherently social and constituted in an interplay of social structures and valuation practices. While the study of social structures helps to understand how economic value is established and set through different social forms (such as markets, ratings, rankings, and contests), the pragmatics of valuation provide detailed empirical insights into situational dynamics and socio-technical contingencies through which economic value is established as a performative practice. The authors conclude by arguing for a more integrated perspective that takes into account the broader societal constellations in which economic valuation takes place.