Complex market contract. Obligational market contract. Nexus of contracts. Bundle of simple and complex market and non-market contracts, plus the powers to make the law, and the sanction powers to enforce it. Broad definition incl.
Market is fat .
Buyer and seller transaction-frequency and identity is unimportant. Standardized, durable or non-durable, simple or complex goods and services. Uncertainty is small or high, and few measurement problems. Small asset specificity. Market is thin .