In this work, the author quotes George Stigler in saying that "in a regime of ignorance Enrico Fermi would have been a gardener" and he states that those who excel in inner city schools benefit the whole group, in a section on the employment of minorities.
In this work, the author quotes George Stigler in saying that "in a regime of ignorance Enrico Fermi would have been a gardener" and he states that those who excel in inner city schools benefit the whole group, in a section on the employment of minorities. The author cites a Kenneth Arrow paper dealing with moral hazard to raise the example of the elderly buying health insurance, saying that as health insurance rises, the medical health of those insured deteriorates. This work goes on to talk about the costs of dishonesty and illustrates information asymmetry by citing those who mix rice with stones at the local bazaar. Subtitled "Quality Uncertainty and the Market Mechanism," FTP, name this 1970 paper in which the used car industry is an example of the title phenomenon, written by George Akerlof.
In this work, the author quotes George Stigler in saying that "in a regime of ignorance Enrico Fermi would have been a gardener" and he states that those who excel in inner city schools benefit the whole group, in a section on the employment of minorities.
“A {Market for Lemons}”