The Market for Lemons car. This, in turn, motivates the owners of moderately good cars not to sell, and so on. The result is that a market in which there is asymmetric information with respect to quality shows characteristics similar to those described by Gresham's Law: the bad drives out the good. (Although Gresham's principle applies more specifically to exchange rates, modified analogies can be drawn.) Akerlof considers a situation in which demand "D" for used cars depends on the cars price "p" and quality "µ" = "µ"("p") and the supply depends on price alone. Economic equilibrium is given by "S"("p") = "D"("p","µ") and
Good News, Bad News (novel) order. But in time they learn that the real problem lies with the organisation for which they both work. As the chase begins, the two men come to understand that things not what they seem, and out pour secrets that will rattle the foundations of the British Intelligence Service. Good News, Bad News (novel) Good News, Bad News is a spy/espionage novel by British author David Wolstencroft. The novel was first published in 2004, and was Wolstencroft's first novel. It was published by BCA by arrangement with Hodder & Stoughton. The novel revolves around two men, Charlie Millar and George,