Abstract
Although ethnography has played an important role in the development of archaeological theory and method, it is limited by the short time‐scales employed and the lack of attention to material culture. Historical studies of museum collections can help overcome these difficulties. By monitoring changes in the efficiency of production of Admiralty Island spears and daggers over the past 120 years, one can observe the effects of economic transformation from noncommercial, reciprocal exchange through to modern day market trading. Contrary to predictions, changes in raw material inputs, craftsmanship, simplification and standardization are not all unidirectional. The results of the case‐study indicate that efficiency is a good indicator of exchange type, but archaeologists also need to understand the specific cultural contexts that shape the particular consumer demands.