I am trying to track down the source of a story I read in the Sunday Times or possibly the Observer (UK Sundays). This was possibly more than twenty years ago.
It concerned the distinction between what it termed markets and bazaars. It contended that many things we consider markets are actually more like bazaars in that most of the trading is done between merchants and it is very difficult for the final customer to judge quality. The examples given were used cars and antiques.
The article, I am pretty sure, referred to an academic paper by economists. The obvious search terms are getting me nowhere. Is anyone here familiar with these ideas and could perhaps point me in the right direction? I’d even be interested to know if the idea died a swift death, which is probable since I can find no trace of it.
Thanks in advance.