What If Hayek Goes Shopping in the Bazaar?


Subject:
Industries , Retail

Description:
This 2006 scholarly paper uses the teachings of free-market economist Friedrich Hayek to present "a comparative analysis of the peculiar institutional features of two retail markets: the middle eastern Bazaar and the western Mall (shopping center). ... [It studies] the informational functions and performance" in settings in which "sellers decide which price setting strategy to adopt whereas buyers form their price beliefs exploring the market and decide which price to accept." From two economists.

Creator:
Lamieri, Marco; Bertacchini, Enrico

Publisher:
Munich University Library

Language:
English

Source:
http://mpra.ub.uni-muenchen.de/367/


PID= res:lii-25935