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| Name | Asymmetric Information and Used Cars |
| Video Uploader | Video From Marginal Revolution University |
| Upload Date | This Video Uploaded At 08-01-2015 21:28:30 |
| Video Discription | George Akerlof, a Nobel Prize-winning economist, analyzed the theory of adverse selection – which occurs when an offer conveys negative information about what is being offered. In the market for used cars, Akerlof posited that sellers have more information about the car’s quality than buyers. He argued that this leads to the death spiral of the market, and market failure. However, the market has developed solutions such as warrantees, guarantees, branding, and inspections to offset information asymmetry. Microeconomics Course: http://bit.ly/20VablY Next video: http://bit.ly/1TzdfDZ |
| Category | Education |
| Tags | Asymmetry (Quotation Subject) | Information Asymmetry (Award-Winning Work) | asymmetric information market failure | certified pre-owned | Carfax (Business Operation) | information asymmetry | asymmetric information economics | asymmetric information economics definition | Asymmetric | carfax | Review | Economics (Field Of Study) | Economics review | Asymetric | Asymmetric information economics | lemon problem | lemon problem economics | learn economics |
