The search for market information is an essential part of the purchasing process. In many consumer behavior models, the search stage is key to understanding and formulating consumers' response to both internal and external stimuli that motivate buying. Whereas the study of internal search focuses on the cognitive resources of the consumer whose cost of utilization is not measurable in typical economic units, external search is associated with a set of more readily measurable economic variables. This article focuses on the extended Talmudic search model. Talmudic law recognizes the cost of search to both buyers and sellers. Two Mishnaic paragraphs bear out the notion of search costs. Both deal with the laws of fraud in sales transactions, based on the biblical verse, "And if thou sell a sale unto thy neighbor, or acquirest aught of they neighbour's hand, ye shall not deceive." Talmudic discussions are quite often of a more theoretical, even abstract nature.
|Title of host publication
|The Oxford Handbook of Judaism and Economics
|Oxford University Press
|Published - 7 Dec 2010
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- Market information
- Talmudic laws
- Talmudic search model