Information asymmetry between sellers and buyers often impedes socially desirable trade. This paper presents a new mechanism that mitigates the inefficiencies caused by information asymmetry. It is shown that markets under severe adverse selection can be endogenously segmented and such segmentation improves social welfare. Endogenous segmentation is driven by low-quality sellers’ incentive to a...

Layoffs, Lemons, Race and Gender This paper expands on Gibbons and Katz (1991) by looking at how the difference in wage losses across plant closing and layoff varies with race and gender. We find that the differences between white males and the other groups are striking and complex. The lemons effect of layoff holds for white males as in Gibbons and Katz model, but not for the other three demog...

To overcome a market of ‘lemons’, online auction marketplaces must be able to differentiate among products and generate price premiums for high-quality ones. Still, the literature has only focused on seller quality uncertainty (seller reputation), alas ignoring the role of product quality uncertainty, which is defined as the degree by which the outcome of the transaction cannot be accurately pr...

Most citrus and avocado water-use studies have been conducted in inland orchards; however, orchards located in coastal areas are subject to cooler temperatures and foggier atmospheric conditions. To develop coastal area crop coefficients (Kc values) for irrigation management, we measured orchard consumptive water use (ETc) from two different commercial orchards located near Ventura. In addition...

The quality of many goods and services may change randomly between the time of shipment and delivery, creating disputes over quality that can result in lemons-market equilibria. We investigate the potential of third-party inspections for such inefficiencies. We consider two types of inspection, ex post verification of quality in consignment contracts and ex ante certification in FOB contracts, ...

Submitted by admin on Mon, 08/19/2013 3:12pm Title Bone properties surrounding hydroxyapatitecoated custom osseous integrated dental implants. Publication Type Journal Article Year of Publication 2010 Authors Baker, MI, Eberhardt, AW, Martin, DM, McGwin, G, Lemons, JE Journal J Biomed Mater Res B Appl Biomater Volume 95 Issue 1 Pagination 218-24 Date Published 2010 Oct ISSN 1552-4981