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This particular passage was also featured as a back panel in a 2007 issue of the Journal of Political Economy. I guess that aside from the mortgage crisis, one could say that a problem of this sort exists in situation like the one at the University of Memphis, where they are trying to hire a new coach for the basketball team, as well. Go Tigers! https://plus.google.com/u/0/103040637929934537692
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This came to mind today with news of the judgment against GS. Just to show that these are issues that humans have been considering through the ages. Information Asymmetries in Ancient Markets