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 to Be Bad concerts were followed by concerts in South America, Europe, Japan and North America. The tour went to forty countries. It ended on 14 June 2009 at Download Festival in Donington Park, UK. Seven songs from the new album were performed. Former Whitesnake band member Adrian Vandenberg guested on two concerts. In November 2008, "Good to Be Bad" won the Classic Rock Award for "Album of the Year". The Dinosaur Rock Guitar forum honored the album with a 2008 Dino Award for "Best Album of the Year". Good to Be Bad Good to Be Bad is the tenth studio album by