2min chapter

Think Like An Economist cover image

S E23: Private Information - I Know Something You Don’t Know

Think Like An Economist

CHAPTER

Insurance Against Divorce - What Kind of Buyer Are You?

When buyers don't have information about the quality of a product, sellers can do things to confirm the quality of their product. They could provide a warranty when selling a used car, or get a confirmation of quality from the government. Another way you'll see third parties confirm qualities through reviews of products and services on all sorts of web sides. Potential customers can find out from other people what quality to expect from a certain business.

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