Some classmates asked me by private letter that he wanted to buy a used car and went to the used car market for a few days and could not buy a suitable used car. The classmate told me that he didn’t want to open a car. I would like to sell for a few days but I can't sell it. Why is it so difficult for a used car to make this sale? Today we have to discuss this issue. There is an American economist named Akerlof who wrote a thesis called "The Lemon Market."
His so-called lemon market is that the defective market is concerned with the used car market. In his article he mentioned a word called information asymmetry. What is information asymmetry? It means that both sides of a transaction deal with the information of the product. If you understand one another and you do not understand it, you can use this advantage to gain more benefits. In fact, the process in the lemon market we call the process of resolving good money out of bad money has three first methods. Laws such as the use of gutter oil and water use of pork are subject to legal restrictions. The second method is price guidance, such as insurance. The third is information disclosure, such as stocks.
Негізгі бет What is the trade secret in the used car market?
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