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
A free admonition without any fees / To warne the Papistes to beware of three trees A free admonition without any fees / To warne the Papistes to beware of three trees "A free admonition without any fees / To warne the Papistes to beware of three trees" is an English broadside ballad published by William Birch in 1571 and is not currently set to any tune An original copy of the ballad is located in the Huntington Library, however online facsimiles are available for public consumption. The first lines of this ballad, "If that you be / not past all / grace, / O Papystes / heare mee / speake, / Let reason / rule,