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I had heard the theory about the market for lemons before, but none of the discussions of it seemed to be able to come up with a better example than the classic
by rwallace 11y ago
I had heard the theory about the market for lemons before, but none of the discussions of it seemed to be able to come up with a better example than the classic partial one about used cars. This looks like the case study the theory predicted.
- wolfgke 11y agoHere the wikipedia link to the famous text "The Market for Lemons: Quality Uncertainty and the Market Mechanism" by George Akerlof: > https://en.wikipedia.org/wiki/The_Market_for_Lemons https://en.wikipedia.org/wiki/The_Market_for_Lemons And here the text: > https://www.iei.liu.se/nek/730g83/artiklar/1.328833/AkerlofMarketforLemons.pdf https://www.iei.liu.se/nek/730g83/artiklar/1.328833/AkerlofM...