Ben Lakhdar, Christian; Leleu, Hervé; Vaillant, … - In: European Journal of Operational Research 226 (2013) 3, pp. 646-657
Since Akerlof’s theory of lemons, economists have viewed quality uncertainty as an informational advantage for sellers. Drawing on frontier techniques, we propose in this paper a simple method for measuring inefficiency of both sellers and buyers in markets for goods with different levels of...