Wednesday, July 27, 2011

Believing in the Efficiency of Markets

Below, in its entirety, is a response from a blog post in the NYTimes' Economix Blog about needing a job to get a job in this recession:

This is exactly why I won’t date a women who is not already married. If she’s still single there’s probably a very good reason.

Ah, but the problem in dating is an information asymmetry, so believing that the market has achieved an efficient result is questionable.  The market for lemons rears its ugly head.

NB: It is also a matching process: most people are not acceptable or unacceptable but right for the right person.    

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