The Market for Lemons cars, the dearth of formal credit markets in developing countries, and the difficulties that the elderly encounter in buying health insurance. However, not all players in a given market will follow the same rules or have the same aptitude of assessing quality. So there will always be a distinct advantage for some vendors to offer low-quality goods to the less-informed segment of a market that, on the whole, appears to be of reasonable quality and have reasonable guarantees of certainty. This is part of the basis for the idiom buyer beware. This is likely the basis for the idiom that
Buyer Buyer A buyer is any person who contracts to acquire an asset in return for some form of consideration. When someone gets characterized by their role as a buyer of certain assets, the term "buyer" gets new meaning. For example, a "buyer" is a person who purchases finished goods, typically for resale, for a firm, government, or organization; while a person who purchases material used to make goods is sometimes called a purchasing agent. In product management, the buyer is the entity that decides to obtain the product. A buyer's primary responsibility is obtaining the highest quality goods at the