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> Knowing about the Lucas critique from economics would be much more relevant “The Market for Lemons: Quality Uncertainty and the Market Mechanism” by George A
by paganel 5y ago
> Knowing about the Lucas critique from economics would be much more relevant
“The Market for Lemons: Quality Uncertainty and the Market Mechanism” by George Akerlof is also a nice related resource [1]
> widely-cited[1] 1970 paper by economist George Akerlof which examines how the quality of goods traded in a market can degrade in the presence of information asymmetry between buyers and sellers, leaving only "lemons" behind.
[1] https://wikipedia.org/wiki/The_Market_for_Lemons https://wikipedia.org/wiki/The_Market_for_Lemons
- rdtwo 5y agoThis was ebay now is Amazon