This week's paper is "The Market for 'Lemons': Quality Uncertainty and the Market Mechanism" by Nobel Prize laureate George A. Akerlof.

Published in 1970, this paper introduced the concept of "asymmetric information" in markets. This concept changed our understanding of how markets operate when buyers and sellers have different levels of information.
--
修改:vinbo FROM 202.120.11.*
FROM 202.120.11.*
附件(1.2MB) rtainty_and_the_Market_Mechanism(George_A._Akerlof,1970).pdf