In this short essay question, you will read an academic article and write a short report. Do not worry if you cannot fully understand the article: feel free to skip parts that you do not understand. Write the report base on what you get from the paper. Please type your essay in Word/Google Doc/Note Pad and send either a DOC or TXT ﬁle. Use font size 11 and single spacing. The report need not be long: a concise and insightful essay will be ideal. Please read the article by Jae-Cheol Kim titled “The Market for Lemons Reconsidered: A Model of the Used Car Market with Asymmetric Information” and write a report. The report should have two parts: a summary and comments. In the ﬁrst part, please summarize the main points of the paper. A typical summary answers the following questions: • What is(are) the research question(s) in this paper? • How did the author answer the question(s)? (example: Did he use theory? Did he use data?) • What is(are) his answer(s)? • What is the main contribution of this paper? That is, how is it diﬀerent from previous works and what has this paper found that no one has found before? (Note: this information should be in the introduction (ﬁrst section) of an article).
In the second part, try to criticize/comment on the article. You can talk about what you like about the article and what you do not like. You can suggest possibilities that the author’s answer is not satisfactory. Better yet, you can suggest ways to improve it.
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