Novelty-Bundling Markets
ISBN: 978-1-78190-006-2, eISBN: 978-1-78190-007-9
Publication date: 15 June 2012
Abstract
An NBM is a market form in that it is made of institutions and business models. It arises in a particular context where abundant novelty issuing from the producer side meets substantial search costs and evaluation difficulties on 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.
Citation
Potts, J. (2012), "Novelty-Bundling Markets", Emanuel Andersson, D. (Ed.) The Spatial Market Process (Advances in Austrian Economics, Vol. 16), Emerald Group Publishing Limited, Leeds, pp. 291-312. https://doi.org/10.1108/S1529-2134(2012)0000016014
Publisher
:Emerald Group Publishing Limited
Copyright © 2012, Emerald Group Publishing Limited