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The Market for “Lemons”: Quality Uncertainty and the Market Mechanism

The Market for “Lemons”: Quality Uncertainty and the Market Mechanism Abstract I. Introduction, 488. — II. The model with automobiles as an example, 489. — III. Examples and applications, 492. — IV. Counteracting institutions, 499. — V. Conclusion, 500. * The author would especially like to thank Thomas Rothenberg for invaluable comments and inspiration. In addition he is indebted to Roy Radner, Albert Fishlow, Bernard Saffran, William D. Nordhaus, Giorgio La Malfa, Charles C. Holt, John Letiche, and the referee for help and suggestions. He would also like to thank the Indian Statistical Institute and the Ford Foundation for financial support. This content is only available as a PDF. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Quarterly Journal of Economics Oxford University Press

The Market for “Lemons”: Quality Uncertainty and the Market Mechanism

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References (13)

Publisher
Oxford University Press
ISSN
0033-5533
eISSN
1531-4650
DOI
10.2307/1879431
Publisher site
See Article on Publisher Site

Abstract

Abstract I. Introduction, 488. — II. The model with automobiles as an example, 489. — III. Examples and applications, 492. — IV. Counteracting institutions, 499. — V. Conclusion, 500. * The author would especially like to thank Thomas Rothenberg for invaluable comments and inspiration. In addition he is indebted to Roy Radner, Albert Fishlow, Bernard Saffran, William D. Nordhaus, Giorgio La Malfa, Charles C. Holt, John Letiche, and the referee for help and suggestions. He would also like to thank the Indian Statistical Institute and the Ford Foundation for financial support. This content is only available as a PDF.

Journal

The Quarterly Journal of EconomicsOxford University Press

Published: Aug 1, 1970

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