Discuss how asymmetric information present in second hand

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Reference no: EM133386537

Learning Outcomes

1. Explain the notion of adverse selection for buyers
2. Discuss the possible responses to adverse selection for buyers
3. Explain the notion of moral hazard
4. Define a public good and the free rider problem
5. Use the marginal principle to describe the optimum level of pollution

Read the following to prepare for this week:

Survey of Economics, Chapter 9: Imperfect Information, External Benefits, and External Costs

Question: Discuss how asymmetric information present in second hand car market, often leads to adverse selection for buyers.

Reference no: EM133386537

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