4 ms·

This isn't a relevant paper, not only because it's not about home appliances, but because it's about a situation where there is information asymmetry. I can res

This isn't a relevant paper, not only because it's not about home appliances, but because it's about a situation where there is information asymmetry. I can research everything I need to know about a refrigerator before buying it, including whether it's a piece of junk or not.

pessimizer 3y ago
No, you can't. What you can do is read as much as possible, and make a guess. Most of what you have read will probably have been indirectly sponsored by the manufacturer, or one of its competitors. None of it will be rigorous - in fact, the most honest information you get will be anecdotes from people whose purchases have failed, and who are as likely as not outliers.
owisd 3y ago
I don’t think the fact that you could potentially invest time in closing the information gap negates the general point, e.g. you could take a course in car mechanics before buying a used car
layer8 3y ago
> I can research everything I need to know about a refrigerator before buying it, including whether it's a piece of junk or not. Nope. The information made available is usually laughably sparse. And often you only learn about the model’s reliability when it isn’t in the market anymore. Models change faster than reliability can be assessed.
- tracker1 3y ago
  Not only that, but varying production runs of the same model will vary dramatically... The model in EU, produced in Germany vs the US model (same number) produced in Mexico will vary dramatically. This isn't a promotion or knock on either country, only in that some facilities will do better/worse than others, source different parts from different suppliers and have varying results. Beyond this, is the brand white labelling and the same or differing parts for varying lines of appliances from different brands even.

4 ms·

This isn't a relevant paper, not only because it's not about home appliances, but because it's about a situation where there is information asymmetry. I can res

by karaterobot 3y ago

pessimizer 3y ago
No, you can't. What you can do is read as much as possible, and make a guess. Most of what you have read will probably have been indirectly sponsored by the manufacturer, or one of its competitors. None of it will be rigorous - in fact, the most honest information you get will be anecdotes from people whose purchases have failed, and who are as likely as not outliers.
owisd 3y ago
I don’t think the fact that you could potentially invest time in closing the information gap negates the general point, e.g. you could take a course in car mechanics before buying a used car
layer8 3y ago
> I can research everything I need to know about a refrigerator before buying it, including whether it's a piece of junk or not. Nope. The information made available is usually laughably sparse. And often you only learn about the model’s reliability when it isn’t in the market anymore. Models change faster than reliability can be assessed.
- tracker1 3y ago
  Not only that, but varying production runs of the same model will vary dramatically... The model in EU, produced in Germany vs the US model (same number) produced in Mexico will vary dramatically. This isn't a promotion or knock on either country, only in that some facilities will do better/worse than others, source different parts from different suppliers and have varying results. Beyond this, is the brand white labelling and the same or differing parts for varying lines of appliances from different brands even.