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The Fulton Fish Market
Located in Lower Manhattan near the Brooklyn Bridge, the Fulton Fish Market was the largest fresh fish market in the United States and served as a real-world test for the economic theory of perfect competition. While it met some criteria, such as having many buyers and sellers and a homogeneous product (whiting fish), it failed on others. Key failures included a significant barrier to entry due to the market's reputation for being a tough and dangerous environment with Mafia involvement, and the prevalence of imperfect information among buyers.
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Sociology
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Economics
Economy
CORE Econ
Introduction to Microeconomics Course
Ch.8 Supply and demand: Markets with many buyers and sellers - The Economy 2.0 Microeconomics @ CORE Econ
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The Fulton Fish Market
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Kathryn Graddy
Imperfect Information in the Fulton Fish Market
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