Monday, February 2, 2015
Elizabeth Chun, Ch 5, Q6
Something that stuck out to me was at the beginning of the chapter and the idea of asymmetrical knowledge between the consumers and sellers in situations such as buying used cars. I had not thought about "the market for lemons" before or even known about it, although it does make a lot of sense. I was also surprised that many employers would still choose an equally qualified white person over a black person because of statistics. The author discussed the qualifications for the job, however did not discuss the comparison of how the person talks or presents themselves which I would consider to be much more important factors than simply the race of two successful business men.
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