> In 2001, the Nobel Prize in economics went to people who studied information asymmetries, which lead to market failures. People might know part of this work

> In 2001, the Nobel Prize in economics went to people who studied information asymmetries, which lead to market failures. People might know part of this work better by the paper title / catchphrase "market for lemons" [1]. This inspired "lemon laws" in several countries. [1] https://en.wikipedia.org/wiki/The_Market_for_Lemons https://en.wikipedia.org/wiki/The_Market_for_Lemons