期刊名称：Humanities and Social Sciences Communications
电子版ISSN：2662-9992
出版年度：2020
卷号：7
期号：1
页码：1-6
DOI：10.1057/s41599-020-00658-w
语种：English
出版社：Springer
摘要：Akerlof’s “Lemons” paper provides a seminal economic result suggesting that, in markets with asymmetric information where product quality is unobservable by consumers prior to purchase and use, the introduction of a low-quality product will drive its higher quality counterpart(s) out of the market. In this paper we identify some empirically relevant cases/conditions under which the introduction of a low-quality product does not drive its higher quality substitutes out of the market but, instead, ends-up coexisting with them.
