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Consider the used car market model we studied in class, where sellers privately know the value of their cars and buyers only know the probability
Consider the used car market model we studied in class, where sellers privately know the value of their cars and buyers only know the probability distribution of car quality, but not the quality of any specific car. Suppose the utility functions of the buyers and sellers for car quality and money are
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Business Statistics for Contemporary Decision Making
Authors: Ken Black
6th Edition
978-0470409015, 9780470559062, 470409010, 470559063, 978-0470910184
