By paddloPayday loans

Decision Making 07 May 2007 01:43 pm

Topic 5: Making Decisions (Lemons)

This is a very nice article from a Nobel Prize winning economist, George A. Akerlof

Now, don’t let that scare you away.

It is all about “lemons”, you know, like used cars. How do we make decisions when we are buying something that may have “uncertain” quality or value? If you have a really, really good car, do you think you can sell it for its real value, or will buyers be suspicious?

This is a great way to start thinking about making decisions (or not, I can’t decide…).

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