> A market for lemons is still a market, and it finds an equilibrium where the lemon-ness gets priced into transactions.
Yes, I agree, and I think that's related to the accusation of "triviality" made by some of the reviewers. If the "lemon-ness" is already priced in, then where's the thing that would make this theory special?
> I don’t know about the whole world, but up here in Canada
I'm from Eastern Europe where the second-hard market is relatively more important compared to Western countries for objective reasons, but as far as I can tell there are lots of people purchasing SH cars in North America from the likes of Craigslist and FB Market (more recently) without any mention of warranties and the like. Those markets are highly functional.
Yes, I agree, and I think that's related to the accusation of "triviality" made by some of the reviewers. If the "lemon-ness" is already priced in, then where's the thing that would make this theory special?
> I don’t know about the whole world, but up here in Canada
I'm from Eastern Europe where the second-hard market is relatively more important compared to Western countries for objective reasons, but as far as I can tell there are lots of people purchasing SH cars in North America from the likes of Craigslist and FB Market (more recently) without any mention of warranties and the like. Those markets are highly functional.