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> 11. Knowing just slightly more about the value of your car than a potential buyer can make it impossible to sell it: https://en.wikipedia.org/wiki/The_Market_
by svachalek 5y ago
> 11. Knowing just slightly more about the value of your car than a potential buyer can make it impossible to sell it: https://en.wikipedia.org/wiki/The_Market_for_Lemons https://en.wikipedia.org/wiki/The_Market_for_Lemons
This is new and interesting to me, although I think the phrasing of 11 is untrue as it's more about a cumulative effect in a market than an individual sale. Still I think this explains a lot of things in a way I've never really thought about it before. For example, dating apps.
- curiousgal 5y agoI remember I struggled to wrap my head around this in my microeconomics class when we first explored information asymmetry.