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
Steve Buyer Steve Buyer Stephen Earle Buyer ( ; born November 26, 1958) is the former U.S. Representative for , and previously the , serving from 1993 until 2011. In 2012, Buyer started working for R.J. Reynolds, promoting the use of smokeless tobacco. He is a member of the Republican Party. Buyer holds the rank of Colonel in the United States Army Reserve. On January 29, 2010, Buyer announced he would not seek a tenth term to the House to spend more time with his wife, who has an incurable autoimmune disease. In January 2011, Buyer became a lobbyist for McKesson Corp.