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1 de nov. de 2022 · The problem of adverse selection (the lemons problem) has been modeled and studied by sequential Bayesian games (dynamic games with incomplete information), and this paper follows that tradition. Thus, several assumptions are commonly shared by the standard model and the model in this study.
This paper analyzes the reasons for the “lemon” problem in the e-commerce market, using the game theory to discuss how to solve this problem, and finally gets the specific approaches from multi-angles. “Lemon” problem is a concrete manifestation of information asymmetry.
In American slang, a lemon is a car that is found to be defective after it has been bought. Akerlof's theory of the "Market for Lemons" paper applies to markets with information asymmetry, focusing on the used car market.
14 de dic. de 2020 · Akerlof’s “Lemons” paper provides a seminal economic result suggesting that, in markets with asymmetric information where product quality is unobservable by consumers prior to purchase and use,...
13 de feb. de 2024 · The lemons problem exists in the marketplace for consumer and business products and investing, related to the disparity in the perceived value of investments between buyers and sellers.
1 de ene. de 2011 · The most generic theory which relates to LMT is probably game theory (GT). Markets can easily be simulated in well-defined economic environments (symmetric vs. asymmetric information) where they provide valuable testing grounds for GT (von Neumann and Morgenstern 1944 ).
This paper analyzes the reasons for the “lemon” problem in the e-commerce market, using the game theory to discuss how to solve this problem, finally get the specific approaches from multi-angles.
