Economics Dictionary of Arguments

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Markets: A market in economics is a physical or virtual place where buyers and sellers come together to exchange goods and services. Markets allow people to specialize in different areas of production, they provide competition, and promote innovation. See also Competition, Progress, Economy, Goods, Exchange, Trade, Innovation.
Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments.

Author Concept Summary/Quotes Sources

Chris Anderson on Markets - Dictionary of Arguments

I 5
Market/Anderson: Anderson's thesis: the mass market is transformed into a mass of niches. These niches have always existed. Only now are they found by search engines and are available. Within these niches there are smaller markets with local stars.
>Search engines
I 7
Digital markets: the 80/20 rule no longer applies here, which otherwise applies almost everywhere: 80% of sales are made with 20% of the goods. In the digital market, on the other hand, the ratio is 98/2. e.g. 2 % of the titles in juke boxes are selected in 98% of the cases.
>Internet, >Internet culture, >Social media, >Social networks.
Robbie Vann-Adibè (CEO of Ecast until 2005): Thesis: in the age of reduced shipping costs to almost zero and instant access, consumers are looking for just about everything. This means that 98% of the goods that would never have been found before are now available.
I 8
Anderson: this would radically transform some of the largest markets. (...) New: demand is no longer filtered by scarcity.
I 11
Market/Anderson: Thesis: in the 21st century we can speak of markets with unlimited choice.
I 22
Amazon: Amazon makes a third of its turnover with books that are too rarely sold to get into the normal bookstores at all.

Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments
The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.

Ander I
Chris Anderson
The Long Tail: Why the Future of Business is Selling Less of More New York 2006

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