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Senior Engineer and Professor of Policy Analysis at RAND Corporation
Joined on December 17, 2024
Total Post Views: 8,724
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Ever buy a used car only to realize later that you've purchased a lemon? That scenario occurs because of information asymmetry between the seller -- who knows the car is a lemon -- and the buyer who doesn't. Without transparency, the market assumed that any used car for sale is a lemon, so that drove down the price of good used cars. The good news is that thanks to the Internet, buyers now have access to data that can help them determine if a car is a lemon or a good buy. more
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