Economic Decision Making of Marketplace Merchants: An Ethnographic Model

The economic decision making of merchants in an urban public produce marketplace in St. Louis, Missouri is analyzed. A computer simulation of merchants' decision process is used as an elicitation aid to help study the recurrent, habitual choices known as attentive or stage-two decisions. The emic analysis of decision models is compared with an etic analysis of the same merchants' behavior. This paper shows the strengths and weaknesses of emic decision models as compared with their etic counterparts.