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A Twenty-First Century Guide to Aldersonian Marketing ThoughtInformation Flows in Heterogeneous Markets

A Twenty-First Century Guide to Aldersonian Marketing Thought: Information Flows in Heterogeneous... Chapter 14 INFORMATION FLOWS IN HETEROGENEOUS MARKETS Wroe Alderson The importance of information in heterogeneous markets was underscored in Chapter 1. This chapter will be devoted to a more detailed analytical treatment of information flows in heterogeneous markets. It has been asserted that demand and supply are matched, segment by segment, in the perfectly heterogeneous market. The detailed process of matching will now be considered in order to answer such questions as, “How much information is enough?” The heterogeneous market is cleared by information. Either consumers must find the goods they want or suppliers must find the consumers who will accept the goods offered. The clearing of the market must involve some degree of initiative on both sides. To clarify further what is meant by clearing the market, three examples will be used in which matching would appear to be a paramount consideration. The examples are the matching of couples in marriage, the matching of homes and occupants, and the matching of jobs and workers. In each case our model of the market visualizes a Utopian society with one spouse per adult, one house per family and one place per worker. The examples were chosen because of the obviously http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

A Twenty-First Century Guide to Aldersonian Marketing ThoughtInformation Flows in Heterogeneous Markets

Editors: Wooliscroft, Ben; Tamilia, Robert D.; Shapiro, Stanley J.
Alderson, Wroe
A Twenty-First Century Guide to Aldersonian Marketing Thought — Jan 1, 2006
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Publisher
Springer US
Copyright
© Springer Science+Business Media, Inc. 2006
ISBN
978-0-387-26175-1
Pages
217 –227
DOI
10.1007/0-387-28181-9_14
Publisher site
See Chapter on Publisher Site

Abstract

Chapter 14 INFORMATION FLOWS IN HETEROGENEOUS MARKETS Wroe Alderson The importance of information in heterogeneous markets was underscored in Chapter 1. This chapter will be devoted to a more detailed analytical treatment of information flows in heterogeneous markets. It has been asserted that demand and supply are matched, segment by segment, in the perfectly heterogeneous market. The detailed process of matching will now be considered in order to answer such questions as, “How much information is enough?” The heterogeneous market is cleared by information. Either consumers must find the goods they want or suppliers must find the consumers who will accept the goods offered. The clearing of the market must involve some degree of initiative on both sides. To clarify further what is meant by clearing the market, three examples will be used in which matching would appear to be a paramount consideration. The examples are the matching of couples in marriage, the matching of homes and occupants, and the matching of jobs and workers. In each case our model of the market visualizes a Utopian society with one spouse per adult, one house per family and one place per worker. The examples were chosen because of the obviously

Published: Jan 1, 2006

Keywords: Information Flow; Sales Manager; Structural Unemployment; Triangular Number; Limited Purpose

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