Akerlof's Bad Theory of Lemons

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6 Pages Posted: 8 Mar 2013 Last revised: 29 Jul 2017

Hak Choi

Chienkuo Technology University - Department of International Business; Chung-Hua Institution for Economic Research

Date Written: March 6, 2013

Does bad money drive out good money? Yes. Do bad products drive out good products? Maybe. Do bad theories drive out good theories? Absolutely No.

Keywords: Lemons, Asymmetric Information, Quality, Adverse Selection

JEL Classification: D52, D82

Suggested Citation: Suggested Citation

Choi, Hak, Akerlof's Bad Theory of Lemons (March 6, 2013). Available at SSRN: https://ssrn.com/abstract=2229559 or http://dx.doi.org/10.2139/ssrn.2229559

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