4 ms·
Bargaining doesn't seem to work at scale (countries with bargaining habits don't do good economically) and it rapidly becomes a big waste of time for everybody.
by galfarragem 8y ago
Bargaining doesn't seem to work at scale (countries with bargaining habits don't do good economically) and it rapidly becomes a big waste of time for everybody.
- nitrogen 8y agoAs someone who always disliked visiting markets where bargaining is expected, this intrigues me. Can you recommend a book or documentary about this, or maybe explain a bit of the theorized causal connection?
- adwn 8y agoSeconding nitrogen's request – I'm very interested in any pointers to further reading. A potential cause for this effect might be that widespread bargaining reduces a market's efficiency, since prices are less transparent for buyers and sellers.