Symmetrical Ignorance: The Cost of Anonymous Lemons - for Nonacademics

by Amar Bhide

Rules that restrict information required in negotiating private transactions have spurred a vast increase in the type of anonymous financial markets, particularly in the United States. The subtle costs of the information restricting rules raise questions about the social value of competing anonymous markets that would not naturally survive and did not historically exist.

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Published February 24, 2021