Table 3

The mechanisms of institutional work by market-shaping public actors

Description of the mechanismEmpirical evidence in betting (FIN), district heating (SWE), and peer-to-peer lending (NZ) marketsReference to prior literature
Regulative mechanisms
Altering regulatorsSetting up new regulators and agreeing new roles for regulatorsFIN, SWE and NZNew mechanism
Changing taxationGuiding market behavior by adjusting tax rates or what is or is not being taxedFIN and SWE(Buhr, 2012; Zhang and White, 2016)
EnforcingEnsuring compliance with laws and rulesFIN, SWE and NZ(Bertella, 2017; Jolly, 2017; Li et al., 2018; Litrico and David, 2017; Zhao et al., 2017)
Financial backingProviding financial support (funding and guarantees) to market actorsn/a(Bartley, 2007; Benn et al., 2014; Bohnsack et al., 2015; Canales, 2016; Cao et al., 2014; Elliot, 2016; Gasbarro et al., 2018; Glassmann, 2008; Jolly, 2017; Kukk et al., 2016; Thomas and Thomas, 2018; Zhang and White, 2016)
GatekeepingControlling access to market with various permits and licencesFIN, SWE and NZ(Glassmann, 2008; Jolly, 2017; Yep, 2015; Zietsma and Lawrence, 2010)
LegislatingSetting up new laws and rewriting old lawsFIN, SWE and NZ(Brès and Gond, 2014; Koene, 2006)
Rule- and price-settingSetting up rules for market behavior, including fees, licences, operating practices, volume of business activities, other than formal lawsFIN, SWE and NZ(Bartley, 2007; Bohnsack et al., 2015; Jolly, 2017; Li et al., 2018; Walker et al., 2014; Zhang and White, 2016; Zietsma and Lawrence, 2010)
Normative mechanisms
Generic campaigningGiving generic and indirect advice to market actors on appropriate behavior (e.g. positive examples of the normative foundations of the market)FIN, SWE and NZ(Zhang and White, 2016)
Specific guidingGiving focused and direct advice to market actors on appropriate behavior (e.g. threatening of cutting public funding)FIN, SWE and NZ(Buchanan and Marques, 2018; Zhang and White, 2016; Zietsma and Lawrence, 2010)
Cultural-cognitive mechanisms
ConsultingDiscussing with other market actors to reach a shared view of the marketFIN, SWE and NZ(Brès and Gond, 2014; Gurses and Ozcan, 2015; Jolly, 2017)
Defining market boundaries and termsDeveloping definitions and language in the marketFIN, SWE and NZ(Binz et al., 2016)
EducatingEducating market actors in necessary skills and knowledgen/a(Binz et al., 2016; Canales, 2016; Glassmann, 2008; Stål, 2015)
LobbyingAttempting to influence the actions, policies or decisions of other legislators or regulators; NB! Separate from being lobbiedFIN and SWE(Binz et al., 2016; Kukk et al., 2016)
MimickingLinking new ideas with taken-for-granted solutionsn/a(Binz et al., 2016)
NarratingTelling stories to support market behaviorFIN, SWE and NZNew mechanism
Orchestrating collaborationInitiating and coordinating collaboration between market actorsn/a(Bartley, 2007; Canales, 2016; Jolly, 2017)
ResearchingCommissioning and conducting studies on selected topicsFIN, SWE and NZ(Alvarez et al., 2015; Binz et al., 2016; Buhr, 2012; Litrico and David, 2017)
StandardizingCreating standards for market solutionsn/a(Bartley, 2007; Buhr, 2012; Litrico and David, 2017)
VenturingRunning business or controlling other assets through ownershipFIN and SWE(Sarasini, 2013)
VisioningBranstorming and visioning the future market with other actorsn/a(Canales, 2016; Jolly, 2017; Jolly and Raven, 2015; Stål, 2015)

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