Adverse Selection; A disturbing Alternative Definition

From: Vaughn (vaughnsimonHATESSPAM_at_att.fake.net)
Date: 01/26/05 

Date: Wed, 26 Jan 2005 23:06:21 GMT

     While looking up the term "adverse selection" for the managed care thread,
I came on to an alternative definition that has very disturbing implications for
dentistry.

It starts out like this:
"Definition: In a market where buyers cannot accurately gauge the quality of the
product that they are buying, ..."

(does this sound like dentistry so far?)

"...it is likely that the marketplace will contain generally poor quality
products."

(then what about this?)

 "Adverse selection was first noted by Nobel Laureate George Akerlof in 1970"

     I am guessing that George would not be very optimistic about his dentist.

(Quoted text came from
http://economics.about.com/cs/economicsglossary/g/adverse.htm )

Vaughn