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Isn’t market for lemons about a situation where consumers can not tell the difference between good and bad quality product so they only buy the cheapest assumin
by Gigachad 1y ago
Isn’t market for lemons about a situation where consumers can not tell the difference between good and bad quality product so they only buy the cheapest assuming it’s bad.
- zeroonetwothree 1y agoYes, and that also applies to dating apps. It’s easier to fake being attractive on an app than in real life. So the apps will be dominated by low cost fakes. You’re right that the comment you replied to was describing a different effect (adverse selection?)
- HPsquared 1y agoThere is information asymmetry, it's just that it exists on both sides. Neither person really knows the other's history or intentions.