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Entomological > Asymmetrical


Asymmetrical
Asymmetrical
Asymmetrical
Asymmetrical
Asymmetrical

The following information is about Asymmetrical.

Asymmetrical Defined

Organs or body parts not alike on either side of a dividing line or plane.

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Off-site Asymmetrical Links, User Submitted

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Sun Sep 28

  • The Market for Lemons - Wikipedia, the free encyclopedia: "The paper by Akerlof describes how the interaction between quality heterogeneity and asymmetric information can lead to the disappearance of a market where guarantees are indefinite. In this model, as quality is undistinguisha ble beforehand by the buyer (due to the asymmetry of information), incentives exist for the seller to pass off low-quality goods as higher-quality ones. The buyer, however, takes this incentive into consideration, and takes the quality of the goods to be uncertain. Only the average quality of the goods will be considered, which in turn will have the side effect that goods that are above average in terms of quality will be driven out of the market. This mechanism is repeated until a no-trade equilibrium is reached. As a consequence of the mechanism described in this paper, markets may fail to exist altogether in certain situations involving quality uncertainty. Examples given in Akerlof's paper include the market for used cars, the dearth of formal credit markets

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