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Level 20
· ◆◆◆◆ · ~13 min
Adverse Selection
Adverse Selection
"Akerlof's lemons: when buyers cannot tell quality apart, the good sellers leave — and a market can unravel until nothing trades at all."
the market for lemonspooling price and unravellingwhy good assets can be unsellableconditioning on the offeradverse selection across finance
A short lesson, then a quiz. ❤️×3 — a wrong answer costs a heart; finish with at least one left and the level is yours. Lose all three and you'll have to try again. Replay any time — XP and cleared levels are never lost.