Conceptions of control refer to understandings that structure perceptions of how a market works and that allow actors to interpret their world and act to control situations. A conception of control is simultaneously a worldview that allows actors to interpret the actions of others and a reflection of how the market is structured. Conceptions of control reflect market-specific agreements between actors in firms on principles of internal organization (i. e., forms of hierarchy), tactics for competition or cooperation, and the hierarchy or status ordering of firms in a given market. The state must ratify, help to create, or at the very least, not oppose a conception of control.

p. 658 - Markets as politics: A political-cultural approach to market institutions, 1996