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The Market for "Lemons" Reconsidered: A Model of the Used Car Market with Asymmetric Information

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  • Kim, Jae-Cheol

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  • Kim, Jae-Cheol, 1985. "The Market for "Lemons" Reconsidered: A Model of the Used Car Market with Asymmetric Information," American Economic Review, American Economic Association, vol. 75(4), pages 836-843, September.
    • Handle: RePEc:aea:aecrev:v:75:y:1985:i:4:p:836-43
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    Cited by:

    1. Mérel, Pierre & Ortiz-Bobea, Ariel & Paroissien, Emmanuel, 2021. "How big is the “lemons” problem? Historical evidence from French wines," European Economic Review, Elsevier, vol. 138(C).
    2. Mamada, Robert, 2022. "The market for lemons and information theory," Mathematical Social Sciences, Elsevier, vol. 120(C), pages 107-112.
    3. Mérel, Pierre & Ortiz-Bobea, Ariel & Paroissien, Emmanuel, 2021. "How big is the “lemons” problem? Historical evidence from French wines," European Economic Review, Elsevier, vol. 138(C).
    4. Moreno, Diego & Wooders, John, 2001. "The efficiency of decentralized and centralized markets for lemons," UC3M Working papers. Economics we014005, Universidad Carlos III de Madrid. Departamento de Economía.
    5. Bradley S. Wimmer & Brian Chezum, 2006. "Adverse Selection, Seller Effort, and Selection Bias," Southern Economic Journal, John Wiley & Sons, vol. 73(1), pages 201-218, July.
    6. Saito, Richard, 2003. "Quality Differentiation of Durable Goods in Secondary Markets," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 57(2), April.
    7. Alessandro Lizzeri & Igal Hendel, 1999. "Adverse Selection in Durable Goods Markets," American Economic Review, American Economic Association, vol. 89(5), pages 1097-1115, December.
    8. Anderson, Simon P. & Ginsburgh, Victor A., 1994. "Price discrimination via second-hand markets," European Economic Review, Elsevier, vol. 38(1), pages 23-44, January.
    9. Ian M. Dobbs, 2004. "Replacement Investment: Optimal Economic Life Under Uncertainty," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 31(5‐6), pages 729-757, June.
    10. Jonathan R. Peterson & Henry S. Schneider, 2017. "Beautiful Lemons: Adverse Selection in Durable-Goods Markets with Sorting," Management Science, INFORMS, vol. 63(9), pages 3111-3127, September.
    11. Avner Offer, 2005. "The Markup for Lemons: Quality and Uncertainty in American and British Used-Car Markets c.1953-1973," Oxford Economic and Social History Working Papers _060, University of Oxford, Department of Economics.
    12. K. W. Chau & Lennon H. T. Choy, 2011. "Let the Buyer or Seller Beware: Measuring Lemons in the Housing Market under Different Doctrines of Law Governing Transactions and Information," Journal of Law and Economics, University of Chicago Press, vol. 54(S4), pages 347-365.
    13. Dionne, Georges, 2012. "The empirical measure of information problems with emphasis on insurance fraud and dynamic data," Working Papers 12-10, HEC Montreal, Canada Research Chair in Risk Management.
    14. Ergo Themas & Maryna Tverdostup, 2021. "Personalized Total Cost Of Ownership And Rational Car Choice: Evidence From Online Field Experiment," University of Tartu - Faculty of Economics and Business Administration Working Paper Series 132, Faculty of Economics and Business Administration, University of Tartu (Estonia).
    15. Jonathan R. Peterson & Henry S. Schneider, 2014. "Adverse selection in the used-car market: evidence from purchase and repair patterns in the Consumer Expenditure Survey," RAND Journal of Economics, RAND Corporation, vol. 45(1), pages 140-154, March.
    16. Carlton, Dennis W. & Perloff, Jeffrey M., 1989. "The Economics of Information," Research Reports 25156, University of Connecticut, Food Marketing Policy Center.
    17. Jae‐Cheol Kim, 1992. "Experience Goods, Expectations and Pricing," The Economic Record, The Economic Society of Australia, vol. 68(1), pages 7-15, March.
    18. Michael Waldman, 2003. "Durable Goods Theory for Real World Markets," Journal of Economic Perspectives, American Economic Association, vol. 17(1), pages 131-154, Winter.
    19. Max Blouin, 2000. "Quality Undersupply and Oversupply," Cahiers de recherche CREFE / CREFE Working Papers 113, CREFE, Université du Québec à Montréal.
    20. Max Blouin, 2000. "Overlapping Generations of Cars," Cahiers de recherche CREFE / CREFE Working Papers 117, CREFE, Université du Québec à Montréal.
    21. John H. Huston & Roger W. Spencer, 2002. "Quality, Uncertainty and the Internet: The Market for Cyber Lemons," The American Economist, Sage Publications, vol. 46(1), pages 50-60, March.
    22. Justin P. Johnson & Michael Waldman, 2010. "Leasing, Lemons, and Moral Hazard," Journal of Law and Economics, University of Chicago Press, vol. 53(2), pages 307-328, May.
    23. Avner Offer, 2005. "The Markup for Lemons: Quality and Uncertainty in American and British Used-Car Markets, c. 1953-1973," Oxford University Economic and Social History Series _060, Economics Group, Nuffield College, University of Oxford.

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