All Posts Tagged With: "baseball player market"
Uneven Information Causes Market Failure?
In a famous 1970 paper, economics Nobel Laureate George Akerlof used the market for used cars to show how differences in information between buyers and sellers (“asymmetric information”) could lead a market to shrink or collapse entirely. A large variety of markets have been said to fail because of asymmetric information, from all different types [...]
1Dec2007 | Joshua C. Hall | 0 comments | Continued-
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