Novelty-Bundling Markets

Jason Potts

A chapter in The Spatial Market Process, 2012, pp 291-312 from Emerald Group Publishing Limited

Abstract: An NBM is a market form in that it is made of institutions and business models. It arises in a particular context whereabundant noveltyissuing from the producer side meets substantialsearch costsandevaluation difficultieson the consumer side. In a NBM consumers don’t necessarily know what they are searching for. These difficulties on the demand side are specifically caused by the fact that novel goods, which are experience goods, often require new “rules for choice” as new suites of evaluative criteria.

Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:eme:aaeczz:s1529-2134(2012)0000016014

DOI: 10.1108/S1529-2134(2012)0000016014

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