经济The Market for "Lemons": Quality Uncertainty and the Market Mechanism

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The Market for "Lemons": Quality Uncertainty and the Market Mechanism

文献名称	The Market for "Lemons": Quality Uncertainty and the Market Mechanism
文献作者	George A. Akerlof
作者所在单位	University of California
文献分类	已发表文献
学科一级分类	经济
学科二级分类	经济思想史
文献摘要	This paper relates quality and uncertainty. The existence of goods of many grades poses interesting and important problems for the theory of markets. On the one hand, the interaction of quality differences and uncertainty may explain important institutions of the labor market. On the other hand, this paper presents a struggling attempt to give structure to the statement: "Business in underdeveloped countries is difficult"; in particular, a structure is given for determining the economic costs of dishonesty. Additional applications of the theory include comments on the structure of money markets, on the notion of "insurability," on the liquidity of durable~, and on brand-name goods.
参考文献	1 Uncertainty and the Welfare Economics of Medical Care Kenneth J. Arrow The American Economic Review, Vol. 53, No. 5. (Dec., 1963), pp. 941-973. Stable URL: http://links.jstor.org/sici?sici=0002-8282%28196312%2953%3A5%3C941%3AUATWEO%3E2.0.CO%3B2-C 7 Information in the Labor Market George J. Stigler The Journal of Political Economy, Vol. 70, No. 5, Part 2: Investment in Human Beings. (Oct., 1962), pp. 94-105. Stable URL: http://links.jstor.org/sici?sici=0022-3808%28196210%2970%3A5%3C94%3AIITLM%3E2.0.CO%3B2-U 9 Cash or Credit Crops? An Examination of Some Implications of Peasant Commercial Production with Special Reference to the Multiplicity of Traders and Middlemen Barbara E. Ward Economic Development and Cultural Change, Vol. 8, No. 2. (Jan., 1960), pp. 148-163. Stable URL: http://links.jstor.org/sici?sici=0013-0079%28196001%298%3A2%3C148%3ACOCCAE%3E2.0.CO%3B2-4
关键字	Quality Uncertainty ; the Market Mechanism
发表所在刊物（或来源）	The Quarterly Journal of Economics, Vol. 84, No. 3. (Aug., 1970), pp. 488-500
发表时间	Aug., 1970
适用研究领域	经济思想史
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