Question
Akerlof claims that numerous institutions arise to counteract the effects of quality uncertainty and he provides four examples of such counteracting institutions. Please provide
Akerlof claims that "numerous institutions arise to counteract the effects of quality uncertainty" and he provides four examples of such counteracting institutions. Please provide two examples of institutions that counteract against the problems of asymmetric information. Briefly describe the specific problem that each institution is offsetting and exactly how each it mitigates the problem. Your examples do not need to come from Akerlof. Example 1: Enter your answer here Example 2: Enter your answer here
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Econometric Analysis
Authors: William H. Greene
5th Edition
130661899, 978-0130661890
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