Video: The Lemons Problem: Sellers Have More Information
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Video: The Lemons Problem: Sellers Have More Information
116 Views. The Lemons Problem refers to a market characterized by asymmetric information, where the seller has more knowledge about the quality of the product being sold than the buyer. For example, in the used car market, the sellers have greater knowledge of their car's true quality. While the seller accurately knows the car's history and ...
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