-Paradox of shopping here is surrounding oneself with superior communication links. -Exploit information imbalances in the end. -2 main. The Bazaar Economy: Information and Search in Peasant Marketing. Clifford Geertz. American Economic Review, , vol. 68, issue 2, Geertz, Clifford, “The Bazaar Economy: Information and Search in Peasant Marketing,” American Economic Review, American Economic Association, vol.

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When therewas, forexample, a sudden influxof labourersworking in the nearbyforests,one of the bazaar tradersimmediatelyextendedcreditto them.

In the bazaar, “the search for information one lacks and the protection of information one has is the name of the game”. More about this item Statistics Access and download statistics.

The Bazaar Economy: Information and Search in Peasant Marketing

Corrections All material on this site has been provided by the respective publishers and authors. In marketsforheterogeneous,non-substitutable goods and services,in whichstand- ardsarerelatively unverifiable and uncertain,and consequentlyin whichscrupulousness is not rewardedand unscrupulousness not punished,bazaar tradeis economicallythe morerationalstrategy, indeeditbecomesa preconditionforcontinuationin themarket.

In markets forperishableproducts, commodities areusuallydisplayed andrelatively easilyinspectable andoftensoldpiecemeal, therebycounteracting quality andquantity uncertainty. In sucha marketthestrategy of individualinspectionor intensiveinformation searchis replacedby thatof price canvassing or extensive information search Rees ;Geertz Commodities are passed through a longchainof middlemen, who bulkand breakbulkat different levelsof themarketing system so thattheprovenance ofa productbecomesunidentifiable and itsqualities uncertain.

The particularmethodofadjustment dependson thenumberand size oftransactions.


The bazaar economy this one of a city in Morroco does follow the maxims of formal economics — everyone wants to buy cheap and sell dear, price relates supply and demand, etc. Price dispersionin thebazaaris there- foreminimised. While pricesare relativelycertainand comparable,the qualityand quantityofgoods are relativelyuncertainand difficult to compare. In contrast bazaarshops,whichare onlyknownby their to traditional owner’snameandtherefore onlyto peoplewho knowtheowner,suchshopshave, liketheproducts theysell,namesoftheirown.

As examples of such homogeneous productseconomistsoftenmentionsupposedlyundifferentiated raw materials,such as wheat, potatoes or cotton e. On the other hand, his examples of bazaar trade involve unbranded, heterogeneous,loosely-soldgoods and unstandardised services,suchas basketsofmaize, pieces of cloth, haircutting,cobbling, blacksmithingand bicycle repairs,as well as horsecartand pedicab transport One reason why some economistsand economic anthropologists see the bazaar as approachingthe model of theperfectly competitivemarketis the apparentabsenceofmonopolisticcompetition.

The main sources of capital for the bazaar traderare those within the bazaar economy itself, namelymoneylendersand chit funds.

Three typesofshopsexistwhich in thekinds of goods concerned,capitalization,and size could well be combined into one: It also describes the problem facing many entrepreneurial Javanese traders as one of organization, not market orientation.

It seems thereforemore than coincidence that all Geertz’s examples of firm-type Muslimsin Modjokuto deal in homogeneous,standardised businessesrunby reformist and substitutablecommodities. Producers ofinferior qualityproducecanstayin themarket evenifthereis no realdemandfor theirproducts.

Insteadoftravelling tothesupplycentrehimself ordelegating an employee to do so, he can orderthemfromdistributing agentsoftheproducer. These means of measurementare controlledby the sellerswho therefore have theopportunity to manipulatethemin theirfavour,and are universally suspected of so doing. Cet articlemontreque le ‘bazar’ de categoriefolkloriquedissimulela distinction analytique entredeux typesde marche: The bazaar economy or how bizarre is the bazaar really?


Theyaretherefore ableto comparenotonlythequalityofdifferent brands, butalso to evaluatetheirqualityin relationto theirprice,an operationwhichis extremely difficultin thebazaar.

Resume Des critiquesdes vues que le bazar est un modele de marche compeitif le depeignentsouvent comme exotique et irrationnel.

FANSELOW ofcommodities inthebazaar,andtheconsequent uncertainty abouttheirprecisevalue, personalloyalty ofemployees to thebazaartrader is ofcrucialsignificance.

Information and Searchin Peasant Marketing. Tax ; Katzinmore recentethnographies of thebazaar emphasiseitsdifferences frommoderncapitalistmarketsand concentrate on itsbizarreand sometimesapparentlyirrationalcharacteristics. You can help correct errors and omissions. During temple festivalsbigger businessessometimesassume the role baxaar traditionalsponsorof particularrituals.

Gewrtz thebazaarwe finda segmentary typeof businessorganisation. They are less valid fortradein food grains,oilseeds, and sugar We have no references for this item. Tradersare betterable to balance the advantagesof increasingprofitsthroughmore investmentfinancedby cheap loans, withthe need forsecrecynecessaryto protecttheirbusinessesinterests.

Some ofthese tourthevillagesandsmaller townsin thecountryside to collectordersfromthebigger shops;alternatively,he can orderfromthembypostor telephone. Remember me on this computer. I shallseek to show thatthesestructural partitionsare not equally charac- terisedby behaviouralconfusionbut constitutedistincttypesof markets.

The Bazaar Economy: Information and Search in Peasant Marketing

Bazaar tradersare unwillingand oftenunable to providethese. The abilityof buyersto identify the provenance ofa goodleadsthemto expectgreater uniformity ofqualityandtherefore to exercisechoicebetweenproducts ofdifferent quality.

FANSELOW One ofthereasonswhythebazaarseemssuchan exoticeconomicphenomenon is thatdue to thewayitis usuallydefined, it embraces everything fromprostitutes to pharmacists Geertz