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
The Good, the Bad, the Ugly (Frankee album) album four out of five stars, noting Frankee's "straight-up language and bad-ass girl power" and commending the album's division into three segments as "an emotional human rollercoaster." Upon its release, "The Good, the Bad, the Ugly" achieved modest success in the United Kingdom. It debuted at its number 51 peak on the UK Albums Chart dated 21 June 2004. The following week, it fell to number 74, before falling off of the chart entirely. It remains Frankee's only top 100 entry on the UK albums chart. The Good, the Bad, the Ugly (Frankee album) The Good, the Bad, the Ugly