Work

Market Organisation and Trading Relationships

Year: 2000

Type: article

Abstract: In this paper we give a theoretical model of buyers' behaviour on a market for a perishable good where no prices are posted. We show that if buyers learn from their own previous experience there is a sharp division between those who learn to be loyal to certain sellers and those who continue to ‘shop around’. This feature remains in more general models which are simulated and is consistent with empirical data from the Marseille fish market.

Source: The Economic Journal

DOI: 10.1111/1468-0297.00531

Authors: Gerard Weisbuch, Alan Kirman, Dorothea Herreiner

Institutions: École Normale Supérieure - PSL, Institut Universitaire de France, Aix-Marseille Université, Université Aix-Marseille-III, École des hautes études en sciences sociales, University of Bonn

Language: English

Topic: Economic theories and models

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W1536967709

FWCI: 35.46

Cites:

Cited by: 233

Related to: 20