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Why lemons don’t always make lemonade: The importance of information asymmetry
Akerlof

Why lemons don’t always make lemonade: The importance of information asymmetry

Think about the first major economic transaction that most people face: buying your first car. Being an attentive consumer, you had to carefully consider numerous details from safety features to fuel efficiency and so on. Yet, being limited to the second-hand market meant one factor was more important than any
Aug 5, 2016 4 min read
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