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Tentative Research on Lemon Problems in the Internet Transaction
Abstract
While the scope of entities transacting through the Internet is enlarged, the objects they are dealing with are also enriched. Therefore, the information asymmetry does not disappear, but develops to be even worse under the new Internet environment. Traditional products and services’ “lemon” problems still exist, and many new traits of digital products and services lead to new features of “lemons” problems. In order to lessen these problems, the product or service producers ought to actively market themselves through new channels; the two parties concerned should search for the help of authorized institutions and information brokers/agents; incomplete contracts are also suitable choice for they can restrain sellers from selling inferior commodities.
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