Consumer Perceptions of Product Lifetimes and Labelling: Implications for Introducing a Durability Label

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THE MARKET FOR “LEMONS”: QUALITY UNCERTAINTY AND THE MARKET MECHANISM**The author would especially like to thank Thomas Rothenberg for invaluable comments and inspiration. In addition he is indebted to Roy Radner, Albert Fishlow, Bernard Saffran, William D. Nordhaus, Giorgio La Malfa, Charles C. Holt, John Letiche, and the referee for help and suggestions. He would also like to thank the Indian Statistical Institute and the Ford Foundation for financial support.

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