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
Hitler Bad, Vandals Good By comparison, the humor in "Hitler Bad, Vandals Good" is more lighthearted, dealing with subjects such as girlfriends, fast food and hairstyles. The album contains two cover songs. "Come Out Fighting" was originally performed by fellow southern California punk rock band Pennywise and is dedicated to the memory of Pennywise bassist Jason Matthew Thirsk, who had committed suicide the previous year. "So Long, Farwell" is a Rodgers and Hammerstein song from the musical "The Sound of Music", which has here been re-interpreted using electric guitar, bass and drums as the closing song on the album. An independent music video was