The generalized exchange framework: A guide for managing norms in traditional & non-traditional markets

Abstract

ABSTRACT While the sharing literature makes claims of uniqueness relative to traditional markets, we show how any market can be understood by positioning salient actors in terms of social distance, and understanding the degree of mutuality in their norms. We introduce the Generalized Exchange Framework, which offers a theoretically rigorous model for understanding and managing any market. An ethnographic study of the craft beer industry illustrates elements of both mutuality and possessive individualism, highlighting normative structures influencing actors in firms‘ environments. We offer managerial implications based on an understanding of the degree to which industry actors value mutuality to differing degrees.