Framing and decoupling in global markets: a theoretical framework for the analysis of multiple markets

Global markets are making the issue of multiple markets especially evident. In light of this, the present paper proposes a theoretical framework for the study of multiple markets based on combining Michel Callon's concept of framing with Harrison White's concept of decoupling. Following a review of the literature on global markets in economic sociology and social studies of markets, the proposed theoretical framework is discussed in detail. The focus is on the processes of creating complex calculative frames, which help reduce uncertainties in the operational environment as well as sociocultural contexts. Through these processes, it is possible to analyse how actors form alliances and maintain global markets. The case of the global market for World Music is presented to illustrate the advantages of this theoretical framework.