3 ms·
An economist called Akerlof has shown in 1970 that markets whose players have asymmetric information are doomed. The private health insurance market is a well
by toolslive 14y ago
An economist called Akerlof has shown in 1970 that markets whose players have asymmetric information are doomed.
The private health insurance market is a well known example of this.
http://en.wikipedia.org/wiki/The_Market_for_Lemons http://en.wikipedia.org/wiki/The_Market_for_Lemons