And there’s also adverse selection / information asymmetry effects, as in “The Market for Lemons”. (There’s a big difference between the market price of a new car and a used car that was purchased new from a dealer one day ago.)
And there’s also adverse selection / information asymmetry effects, as in “The Market for Lemons”. (There’s a big difference between the market price of a new car and a used car that was purchased new from a dealer one day ago.)