The problem on the "market for lemons" is written in layman-understandable terms by economist/columnist Tim Harford on his book "The Undercover Economist" (simi

The problem on the "market for lemons" is written in layman-understandable terms by economist/columnist Tim Harford on his book "The Undercover Economist" (similar to the Freakonomics books). It's even one of the main advertising blurbs: "Why the Rich Are Rich, the Poor Are Poor--and Why You Can Never Buy a Decent Used Car" He also blogs here http://blogs.ft.com/undercover/ http://blogs.ft.com/undercover/ If you enjoyed the Freakonomics books you'll probably like them (and no, I don't work for anyone related, nor for Amazon :P )