Read the article, “the market for ‘lemons’: quality uncertainty and the market mechanism” by George Akerlof, 1970, Quarterly Journal of Economics, v. 84, no. 3, p. 488 – 500. (To download the article, go to BU library online and search for the “JSTOR” database. In JSTOR, search by typing in the title of the article.) https://www.iei.liu.se/nek/730g83/artiklar/1.32883… You can skim through Section II (because we use a similar but simpler example in class) and focus on the economic applications in the remainder of the paper. Take one idea from the article that you find interesting, and apply it to either an example from your own experience or to some other modern-day topic. Write about 500 words.
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