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
Good Girls Go Bad Good Girls Go Bad "Good Girls Go Bad" is a song by American pop band Cobra Starship with guest vocals by Leighton Meester. It was the first single released from their third studio album, "Hot Mess". The song was released digitally through iTunes on May 11, 2009. On May 8, 2009, "Good Girls Go Bad" made its radio debut on KIIS-FM with Ryan Seacrest's show. The song was produced by former "American Idol" judge Kara DioGuardi and Kevin Rudolf. The song went on to become Cobra Starship and Leighton Meester's first US hit and top 10, peaking at number seven