Adverse Selection and the Lemons Problem: A Sour Situation - Economic Theory Series | Academy 4 ...
Автор: Academy 4 Social Civics
Загружено: 2021-04-19
Просмотров: 9016
Описание:
This sort of situation involves an economic concept known as adverse selection. Since the buyers and sellers have unequal information, particularly concerning the risk factors of the transaction, one group has a distinct advantage over the other. One side can thus exploit the other for their own gain.
**Find a transcript, lesson plans, worksheets, and more at: https://academy4sc.org/video/adverse-...
**Think Further Questions
1. What’s another industry that’s greatly affected by adverse selection?
2. Which do you think is better for the market: lemon laws or third party verifiers? Why?
3. Can you think of any other ways to combat the lemons problem?
**Contents
00:00 - The Problem
00:30 - The Answer
01:08 - Definition of Adverse Selection
01:25 - The History
02:57 - So What?
#academy4sc #civicseducation #economictheory
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