Serials vs. Novels

So, a recent topic got me thinking in a new direction now. What's the difference between a serial and a novel published a few chapters at a time? Is there a difference of story structure? Does a serial need to be episodic?

The ever faithful Dictionary.com defines a serial likes this:


anything published, broadcast, etc., in short installments at regular intervals, as a novel appearing in successive issues of a magazine.

That's pretty broad. What do you think separates a serial from a novel? Is it something different or is a "serial" just a delivery method? What do most people think of when they think serial?

And while we're on the topic of publishing things a piece at a time, what about open ended stories? And stories that are unfinished? How many people really want stories that never end? How frustrating is to read a story that may likely never be finished? If you start writing a story, and publishing it, is there a responsibility to finish it?

I can't speak for Justme and Leeway, but I had always thought of my story as a novel rather than a serial. Perhaps that's just word play? Also, would people feel cheated to read a serialized novel (there's another term to toss around) if the end doesn't come or if installments aren't regular?