Hello Walter. Nice to see you. Thanks for D. But this is not true. An economically efficient market is one where goods and services produced are delivered at t

Hello Walter. Nice to see you. Thanks for D. But this is not true. An economically efficient market is one where goods and services produced are delivered at their most valuable. The job market is the antithesis of that. If there is asymmetric information (and asymmetric risk) AND that asymmetry is known by the side with most information (like it my job example), then the side with more data can price more optimally than the side with less. If we extend that into the tenure of the job, you can be pressured to work longer and harder than you are actually paid for if the risk of losing your job is greater than the risk of you company having to replace you. Just look to Japanese salarymen or Chinese 996 workers. Those are not efficient markets. They are markets skewed towards the owners of capital. Your example of used vs new cars is an example of a risk discount, but it really doesn't fit here, imo.