> "descending into lemonhood" is not a progression of markets It takes time for the participants to respond to the lemon market conditions, eg buyers to make p

> "descending into lemonhood" is not a progression of markets It takes time for the participants to respond to the lemon market conditions, eg buyers to make purchases that are bad, so that they come to distrust the sellers, and then sellers with quality goods taking them elsewhere because the buyers are now pricing everything as if it's going to be a lemon. The transition from healthy market to lemon market once the preconditions have been in place for enough time could reasonably be described as a "descent".