Arabic (المسترسل) for a buyer who does not haggle over the price (i.e., takes the price for granted). In general, a buyer acts in such a manner based on a specific trait in a seller such as trust, straightforwardness, reliability, etc. Al-mustarsil may also be a buyer who is unaware of the actual price of an item in a way that the seller exploits his lack of knowledge, i.e., information asymmetry, by increasing the price above the prevailing market price. The “unsuspecting” buyer will be willing to buy at price quoted by the seller. As such, the sale is said to be associated with al-ghubn (al-ghaban).
Al-mustarsil may also refer to an unknowledgeable farmer who brings his produce to the market and sells it at a price lower than the prevailing price. This sale involves information asymmetry which the seller, unaware of market conditions, is blamed for.
Comments