Institutional market-making: a study of the geothermal energy transition

Utilising Interpretive Structural Modeling (ISM) and MICMAC analysis, it reveals a 'scrappy ecosystem' where imprinting is uneven across institutional actors, influenced by specific imprinters like technology blue print and green finance. This study highlights the selective impact of institutional forces on ecosystem components, advocating for strategic alignment to foster a resilient market structure. The third article focuses on the strategic dynamics between institutional stances, market intent, and realisation, employing Mintzberg’s strategy model and Gioia framework analysis.

It identifies institutional stances, such as market sensing and projecting, that influence geothermal market outcomes. The study proposes the concept of 'market stents' to describe strategies that help maintain market equilibrium amidst fluctuating institutional stances. Together, these studies contribute to an institutional market-making framework that features the need for sustained institutional engagement through social flow maintenance work.

The thesis argues that geothermal energy market development hinges not just on technical innovation but on understanding and navigating the complex social and institutional landscapes that shape market evolution. The findings offer insights for policymakers and industry stakeholders on creating cohesive strategies to support renewable energy market transitions.<br>