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The Market for "Lemons": Quality Uncertainty and the Market Mechanism

by: George A. Akerlof
The Quarterly Journal of Economics, Vol. 84, No. 3. (1970), pp. 488-500.

X Abstract

I. Introduction, 488.--II. The model with automobiles as an example, 489.--III. Examples and applications, 492.--IV. Counteracting institutions, 499.--V. Conclusion, 500.

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