Keyword: information

Crystal Ball (6/22/2006)

Better information on risky events may lead to market failure due to adverse selection.

Keywords: adverse selection, genetic screening, information, insurance, parking, risk

Faking It (9/26/2011)

Scarcity value does not depend on technical competence but scarcity itself.

Keywords: branding, counterfeit, external benefit, free ride, information, market signaling, scarcity, shadow branding

Grade A Material (8/1/2002)

In the absence of perfect information, insurers charge premiums according to classes of risks rather than individual risks.

Keywords: auto insurance premium, information, premium discount, risk, statistical discrimination

Lemon Laundering (6/22/2006)

Poorly informed consumers usually end up getting stuck with lemon products which are passed around to avoid capital loss.

Keywords: capital loss, durable goods, information, lemon laws, lemons, money-back guarantee, perishable goods, salvage

The Blind Leading the Blind (12/8/2000)

An informational cascade occurs when people blindly follow the early movers, but can be quickly reversed in the light of trusted information.

Keywords: adoption, bandwagon, blind, celebrity, culture, down cascade, fads, fashion, first movers, information, informational cascades, rejection, reputation, reversal, signal, up cascade

Too Little vs Too Much Panda-ing (3/12/2015)

You could have too little or too much of a good thing.

Keywords: choice paralysis, information, panda, too much vs too little