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 Bad Man re-release is preserved at the Library of Congress. On May 31, 2014, a restored print of the 1923 version was shown at the San Francisco Silent Film Festival at the Castro Theatre. This print has an original title at the beginning: "Supervised by D. W. Griffith". Fairbanks biographer Jeffrey Vance finds "The Good Bad Man" fascinating for what it reveals about Fairbanks the man. Vance writes: The Good Bad Man The Good Bad Man is a 1916 American silent Western film directed by Allan Dwan. The film stars Douglas Fairbanks (who also produced and wrote the film) and Bessie Love.