The Culture of a Market: A Case Study of Open-Air Horse Markets

Individuals related to an organization develop organizational cultures, which in turn determine individuals' interactions. This idea is applied to markets and their spatial dimension, the marketplaces. The paper treats open-air horse markets. It is shown how horse traders, their customers, and state authorities influence the development of a particular market culture and how this promotes trade. Additionally, the paper seeks to explain why seemingly anachronistic open-air horse markets still exist in an industrialized society. (JEL: Q 13, R 10, Z 13)