Patrik Aspers (University of St. Gallen)

Public Solutions to Individual Uncertainty Problems

This talk departures from the classic problem of uncertainty, as formulated by Frank Knight (1921). The problem for actors who face uncertainty has been recognized by both economists and sociologists. Many problems of uncertainty that individual actors—persons and organizations—face cannot be solved by themselves in isolation. This talk identifies a limited number of public solutions to these individual problems.

The analysis covers a broad range of public solutions to problems of uncertainty, from informal and formal institutions, standards and evaluations, but also forms that addresses value uncertainty. Concrete examples of problems are: how much is my old car worth? What is the value of my university degree? Which research statement is most accurate? Who is considered the most beautiful fashion model? Who is the most valuable NHL player? 

It is shown how some of these forms that address uncertainty are economic, for example, markets, while others, though not strictly economic, also reduce uncertainty—such as rankings, ratings, and contests. The talk will demonstrate how these forms help reduce uncertainty and how they emerge, either through mutual adjustments among people or through organizational decisions made for others.

Link to the book (open access published 2024):

Uncertainty - Patrik Aspers - Oxford University Press (oup.com)

Link to Aspers homepage:

Prof. Ph.D. Patrik Aspers - University of St.Gallen | unisg.ch

Link to Google Scholar:

‪Patrik Aspers - ‪Google Scholar

Bio

Patrik Aspers is Chair of sociology at the University of St. Gallen, and has previously been chair at Uppsala University, worked at the Max Planck Institute for the Study of Societies in Cologne, and been visiting scholar at numerous universities. He holds a Ph.D. (2001) from Stockholm University. His research is oriented to economic sociology, qualitative research, sociological theory, uncertainty reduction, and organizational sociology. Aspers’ work draws on phenomenology, and he has published several articles and books, for example, Orderly Fashion (Princeton University Press, 2010), Markets (Polity Press 2011), The Worth of Goods, Valuation and Pricing in the Economy (Oxford UP, 2011), with Jens Beckert, and Re-Imagining Economic Sociology (2015, OUP), with Nigel Dodd.