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The Market for 'Lemons': Quality Uncertainty and the Market Mechanism" [1] is a widely cited seminal paper in the field of economics which explores the concept of asymmetric information in markets. The paper was written in 1970 by George Akerlof and published in the Quarterly Journal of Economics .
Take it from Clemson University food scientists who studied drink garnishes. Lemons will leave a bad taste in your mouth. We're talking about germs. Wet lemons absorb bacteria 100 percent of the time.
A major grower said this week it was abandoning its citrus growing operations, reflecting the headwinds Florida's signature crops are facing following a series of hurricanes and tree diseases.
George Akerlof's paper The Market for Lemons [4] introduced a model to help explain a variety of market outcomes when quality is uncertain. Akerlof's primary model considers the automobile market where the seller knows the exact quality of a car. In contrast, the buyer only knows the probability of whether a vehicle is good or bad (a lemon).
When life gives you lemons, make lemonade is a proverbial phrase used to encourage optimism and a positive can-do attitude in the face of adversity or misfortune. Lemons suggest sourness or difficulty in life; making lemonade is turning them into something positive or desirable.
According to the TVPRA List of Goods Produced by Child Labor or Forced Labor [1] published in December 2014 by the Bureau of International Labor Affairs, the citrus fruit industry in Belize employs underage children. The report also mentions Turkey among the countries where such labor conditions have been observed.
Sugary drinks were found to be linked to over 330,000 deaths a year. Experts explain the findings. You may want to think twice before adding soda to your shopping cart. New research shows that not ...
The title of Lemon Capital of the World has been give to these places, for growing large amounts of lemons: South Riverside Land and Water Company now Corona, California . (1887 to 1980s).