2 ms·

I have a 15 year old, 20 year old, and 25 year old vehicle. They're very reliable. They're also not for sale.

• HPsquared 4y ago
  >They're also not for sale. There's a famous economics paper on this: https://en.m.wikipedia.org/wiki/The_Market_for_Lemons https://en.m.wikipedia.org/wiki/The_Market_for_Lemons Used cars are an example of information asymmetry. If someone has a "bad" car they'll want to sell it. If they have a "good" car they'll want to keep it. Especially if both cars have the same market value because the buyer can't distinguish between the good and bad cars.