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The Market for Lemons - Assignment Example

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Akerlof and in this article the author shares his experience regarding the publication of a research he had conducted. The author stated that at the time when he was working on his article…
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The Market for Lemons
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Download file to see previous pages He was concerned about the causes of increase in the sale of new cars and why people did not prefer purchasing old ones. He identified that asymmetrical information was one the leading factors that motivated an individual to buy new cars and the consumers were even suspicious about the motives due to which owners of old cars were selling their cars. Furthermore the author states that the concept of Lemons and asymmetrical information has a broad range of applicability and can be applied to different markets. Towards the end of the article the author focuses on the issues he faced while trying to get his article published. He stated that initially he was rejected and reason for rejection was that the publication in which he was trying to get his paper published did not published research articles on issues that were highly ...Download file to see next pagesRead More
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The Market for Lemons
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