Experiment 11: Adverse Selection

The experiment was conducted on 18 October, 1996, at 
Carnegie Mellon University by Elizabeth Newlon

In Session 2 there were 13 good used car owners,
13 lemon owners, and 6 sellers.

In Sessions 3, and 4 there were 8 good car owners, 
18 lemon owners, and 6 sellers.
 
In Session 2 there were 13 good used cars
and 13 lemons purchased.

Data for Table L11.1
Prices Paid by Dealers--Session 2:
Dealer	Prices		
ID	Paid
3829	1001	1001	1001	2000	2000	2000	2000	2000	
	2100	2085	2085
2440	1850
9897	2000	2000	2000
9264	1000	1053	1200	1800	1900	1999	1999
7271	1601	1601
7680	1999	1999


In Session 3 there were 0 good used cars 
and 18 lemons.

Data for Table L11.3
Prices Paid by Dealers--Session 3:
Dealer	Prices		
ID	Paid
3356	461	500	500	500
7615	---
0518	475	475	475
7687	300	500	500	510	510	510	510	510	510
	510	510
0317	---
6542	---


Session 4 there were 8 good used cars and 18 lemons purchased.

Data for Table L11.5
Prices Paid by Dealers--Session 4:
(asterisk by price indicates good car showed, double
asterisk by price indicates bad car showed, no asterick
by price indicates no card shown)
Dealer	Prices		
ID	Paid
2440	2400*	450**	400**
5186	425**	425**	425**
1986	450**	450**	450**	450**
3829	2350*	2500*
9264	400**	400**	400**	3000*	3000*
3216 	2500*	3000*	3100* 	450**	425**	450**	425**	450**	450**		

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