In a knowledge market, the knowledge undergoes little validation or organization.No one is formally responsible for ensuring that knowledge items are correct, and that The knowledge in the market is complete. Only minimal formal procedures ensure that the knowledge is maintained over time. In essence, the market is a decentralized laissez-faire operation - albeit one with policies, guidelines, and incentives. AS a result, knowledge acquisition costs are comparatively low, as are knowledge development costs, because the knowledge assets can be stored with little development, and questions and answers can be posted on a discussion list with little extra effort.