Economic Custom in a Competitive Marketplace
- 1 December 1983
- journal article
- Published by Wiley in American Anthropologist
- Vol. 85 (4) , 848-858
- https://doi.org/10.1525/aa.1983.85.4.02a00060
Abstract
Dyadic, reciprocal equilibrating relationships, such as trading partnerships in agrarian markets, have been reported from many societies. Data from a competitive marketplace in St. Louis, Missouri is analyzed in a multiple regression to test for the existence of such relationships between merchants and consumers. The interpretation of variables representing each firm's price level and consistency of stock reveals that economic custom is important even in this competitive marketplace.Keywords
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