Reciprocal exchange: a self-sustaining system
Article Abstract:
The persistence of reciprocal exchange, or gift exchange, is analyzed by formalizing the interaction between self-enforcing exchange deals and monetary market exchange. Findings indicate that market search expenses rise, reciprocity is easier to enforce and yields higher utility, when there are more people doing reciprocal exchange. Therefore, gift exchange remains even though it is inefficient. On the other hand, large markets can be detrimental to reciprocity when gift exchange is efficient.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
Vox populi
Article Abstract:
Amar Bose developed speakers for his stereo system when he could not buy what he wanted, and his initial product was successful technically, but too large to be commercially successful. Bose Corporation has 600 engineers, and research is important for Amar Bose. The company's distribution channels are unorthodox, and geared to appeal to consumers. Some products are sold directly, and there are also Bose stores where customers can listen to the sound system and observe its compact size.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
It pays to complain
Article Abstract:
A plan for effective consumer complaints is given. The consumer is often rewarded with improved services and additional products. Only valid complaints should be expressed, and care should be taken in writing the letter. Appropriate information such as serial numbers should be included.
Publication Name: Woman's Day
Subject: Family and marriage
ISSN: 0043-7336
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Report on quality changes for 1999 model vehicles. Challenging changes. Botha Changes the Landscape
- Abstracts: Geographical changes in Money magazine's "Best Places to Live" rankings. Diamonds are a rebel's best friend
- Abstracts: Regional newspapers. The secret game: in 1944, an incredible, and illegal, basketball game was played by two North Carolina teams - one black, one white
- Abstracts: A Recovery That Smells. A structural revolutionary
- Abstracts: Moroccans turning to LANs for quick computerization. My war