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, and the Dead Barns wakes up in the middle of the desert injured and with no memory of who he is. Surrounded by eight dead bodies, $3 million in cash, and a van full of cocaine, he is pursued by drug lord Mateo Perez, who wants his drugs and money back; DEA agent Bob Rooker; and Sheriff Olson, who is corrupt and out for his own financial gain. The Good, the Bad, and the Dead The Good, the Bad, and the Dead (formerly known as Forgotten and stylized as 4Got10) is a 2015 crime thriller directed by Timothy Woodward Jr., and starring Johnny