used car quality information asymmetry market

Bad used cars can drive good ones out of the market

Suppose buyers cannot tell a good used car from a bad one. They will be reluctant to pay a high price because the car might be bad. Owners of good cars may then refuse to sell at the lower price, leaving more bad cars in the market.

Dung beetles can navigate by the Milky Way

Dung beetles can use the bright band of the Milky Way and groups of stars to keep moving in a straight direction at night. They are the only insects known to navigate using the galaxy.

Some subjects preferred groups outside Roman rule

A fifth-century account says some people in the Western Roman Empire preferred joining the Bagaudae, rebel groups outside Roman control, or communities beyond the empire. Injustice, heavy demands for money and corrupt tax collection had made Roman rule unbearable to them.

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used car quality information asymmetry market

Bad used cars can drive good ones out of the market

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