you are amazing as describing this concept thank you!
@prileylinggi23832 жыл бұрын
Thanks it's beautifully explained
@ignaciolopezmenendez52352 жыл бұрын
greaaat video about an amazing topic!
@mahnoorimtiaz35383 жыл бұрын
Very nicely explained! 🌸
@shuhanyang40932 жыл бұрын
Thank you, this video is very helpful!
@hamzahannoun23072 жыл бұрын
amazing video
@missmaha1116 жыл бұрын
very useful video thank you so much
@krystleceasar39958 ай бұрын
Great explanation
@ekananda95913 жыл бұрын
This hypothesis fail to explain buyers used to buy used cars and thus also have information advantage. The car buyers who know nothing about car usually settle to buy new car
@andile59452 жыл бұрын
Correct! Or they lease. This in effect would topple the used car market prices or push dealers to compete for reputation.
@mayanksingh00445 ай бұрын
Thx
@SergioBravo976 жыл бұрын
Muchas gracias!
@TheExceptionalState4 жыл бұрын
Thank you for the clear explanation. However, it is Akerlof that is the biggest lemon, because he should have come up with a more realistic scenario in which information asymmetry might drive down prices. Can buyers really be expected to be as simplistic in their thinking as is assumed here. I am not saying it won't happen in markets, just that Akerlof's lemons is lemon. It makes you wonder if he ever bought a car in his life.
@MeLawenity4 жыл бұрын
en.wikipedia.org/wiki/Economic_model Simplification is particularly important for economics given the enormous complexity of economic processes....Economists therefore must make a reasoned choice of which variables and which relationships between these variables are relevant and which ways of analyzing and presenting this information are useful.
@Robert3994 жыл бұрын
I mean you could say the buyer receives a random signal about the value of the car and add a "buyer's knowledge" parameter which is the probability of it being correct but (for anything less than perfect knowledge) you would get the same results. It's just pointless maths with no additional insights - the mark of a bad economist.
@joonwonlee15674 жыл бұрын
thanks
@clarawonkyimaaandorful46873 жыл бұрын
what are "diamonds"?
@Aristides_967 жыл бұрын
Are u recording from a coffin?
@valpaminiano32624 жыл бұрын
I don't understand what you are talking about. You are eating your words!