(IME2) Chapter 11 - Video 4: Solving the Used Cars or the Lemons Problem with Three Types.

In this episode, I will use a numerical example to explain how we determine the market price of used cars in the lemons problem with three types of used cars.
It's crucial to watch lecture videos in the proper order to ensure effective learning. This is because the concepts in each video build upon those introduced in previous videos. To help you with this, I recommend you visit my website, www.selcukozyurt.com, for a recommended course outline.

[@jonathannielsen1247]

Pretty fun, that we assume that the buyer can't distinguish between a good or a bad car, but he knows the seller's willingsness to sell. In most markets the buyer doesn't know the seller's bear minimum.