SNSF project investigates the rules of the marketplace

Mr Aspers, as a sociologist, what do you see when you stroll through the farmers’ market in St. Gallen or shop online?

Many people probably don’t realise that they are taking part in a tradition dating back several thousand years. From a sociological perspective, however, what is particularly fascinating is just how highly organised marketplaces are, according to my research published in Berliner Journal für Soziologie. The goods on offer, the way, trading takes place, the rules that apply and the quality standards that must be met are all highly organised. Every marketplace is shaped by decisions about how trade is facilitated and structured.

Nowadays, when people think of marketplaces, they tend to think of Amazon, Airbnb or Temu. But what do these digital platforms have in common with a traditional market in the village square?

Anyone who buys on Ricardo is following a tradition that dates back thousands of years. At their core, they operate on the same principles. According to The British Journal of Sociology, digital marketplaces are also organised places of exchange. Even if the ‘marketplace’ is no longer a physical space. But rather an app or website. The key difference is that digital platforms are largely location-independent and can be scaled up very easily. This enables them to grow to enormous sizes in a short time. In some cases, they develop structures similar to those of a monopoly.

You mention trading conditions. What determines whether people trust a marketplace and conduct business there?

Trust primarily arises from the social context. People are more likely to trade on marketplaces that are embedded in stable, legal and institutional structures – for example, such as in Switzerland. This basic prerequisite creates security. Furthermore, marketplaces themselves can do a great deal to build trust by providing transparent rules, reliable information and effective control mechanisms, for instance.

In your research, you also address uncertainty. Why is uncertainty not just a problem for markets, but actually a prerequisite?

If everyone already knew everything, there would hardly be anything left to negotiate. Uncertainty is one of the fundamental conditions of economic activity. It creates opportunities for profit and innovation. From a broader perspective, we might ask whether uncertainty and ambiguity are among the fundamental conditions of human activity in general. I am currently exploring this question in another research project.

This week, at the beginning of June 2026, more than 40 researchers from all over the world will gather at SQUARE. What will you be discussing there?

Our workshops will focus on contributions to a new handbook on marketplaces, to be published by Oxford University Press. The authors cover a remarkably broad spectrum: from archaeology and history to sociology and economics. Our aim is to bring together the current state of research on marketplaces and provide a comprehensive overview of the topic.

What can we learn from this workshop about the future of trade?

Anyone following the discussions will gain insights into many current developments. These include digital marketplaces and new forms of work, but also the historical and cultural development of markets. It is precisely this connection between past and present that helps us understand how trade is organised – and what challenges and opportunities will shape the marketplaces of the future.

Patrik Aspers holds the Chair of Sociology at the University of St. Gallen. He previously held positions in Sweden and Germany. His research focuses on economic sociology and sociological theory. You can find a further contribution to his work on reducing uncertainty here.

About the SNSF research project ‘Trading Conditions on Marketplaces’

The research project “Trading Conditions on Marketplaces”, funded by the Swiss National Science Foundation (SNSF), investigates how trading is organised on traditional and digital marketplaces. The focus is on the conditions under which people build trust, make decisions and engage in economic transactions. The findings will be incorporated into the Oxford Handbook of Marketplaces, edited by Patrik Aspers, Judith Nyfeler, Luca Perrig and Loïc Pignolo (research team). On 3 and 4 June 2026, more than 40 researchers from around the world will discuss the contributions to the handbook at an international workshop at SQUARE, University of St.Gallen.

Foto: Unsplash/  Lisheng Chang