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
Bad for Good Steinman recorded the album, retitled "Bad for Good", as a solo project, although Rory Dodd contributed lead vocals on some songs. Many musicians and backing vocalists from "Bat Out of Hell" performed on "Bad for Good", including Roy Bittan and Max Weinberg from Bruce Springsteen's E Street Band. Like "Bat Out of Hell", Richard Corben illustrated the cover. Describing the cover, "Sounds" magazine says "the flesh, the puppy-fat on the mid-calf, the breasts, the upturned American nose ... Corben's evocation of teenage femininity is so right! The cover, though, is the product of an alternative universe, like everything else about