I need some assistance with these assignment. market for lemons by akerlof Thank you in advance for the help! This year’s Laureates proposed a common explanation and extended the theory when they augmented the theory with the realistic assumption of asymmetric information: agents on one side of the market have much better information than those on the other side. Borrowers know more than the lender about their repayment prospects. the seller knows more than buyers about the quality of his car. the CEO and the board know more than the shareholders about the profitability of the firm. policyholders know more than the insurance company about their accident risk. and tenants know more than the landowner about their work effort and harvesting conditions. More specifically, Akerlof showed that informational asymmetries can give rise to adverse selection on markets. Due to imperfect information on the part of lenders or prospective car buyers, borrowers with weak repayment prospects or sellers of low-quality cars crowd out everyone else from the market.