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Used vehicles, lemons markets, and Used Car Rules: Some empirical evidence | Semantic Scholar

@article{Hoffer1987UsedVL,
  title={Used vehicles, lemons markets, and Used Car Rules: Some empirical evidence},
  author={George E. Hoffer and Michael D. Pratt},
  journal={Journal of Consumer Policy},
  year={1987},
  volume={10},
  pages={409-414},
  url={https://api.semanticscholar.org/CorpusID:150724648}
}

The purpose of the note is to highlight what the body of economic literature has to say about the subject of lemons markets in general, and used car markets in particular. This literature makes it easier to understand why the FTC might have deleted the known defects provision from its Used Car Rule.It is shown that the economic literature is divided on whether a lemons market actually exists in used vehicles. The authors' own research is supportive of the hypothesis that the Wisconsin statutes… 

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