Little Lemon has a big decision to make since she left her home lemon farm and joined the fruit market.
There are many types of fruits in the fruit market. Watermelon never stops bullying others due to his mega size. It is written all over his evil grin ‘See I am the biggest one so I can do whatever I want!’ The rotten grapes busy themselves every morning with big make up tasks. With help from a lot of foundations and lip sticks, they look so pretty and can put a big premium on their price tag. Well, so small and incapable she is, no wonder no customer would ever cast a sight on her.
‘Well, you know, Miss Lemon, you have been here for a week now and we are not able to sell a single one of you. It is time to think of some solution’. The fruit selling boy said, winter would be warmer than his face.
‘Hmm, what shall I do?” Lemon was rolling her eyes, quite unsure what genius idea she was going to hear. Somehow she sensed she was not going to like it.
Fruit boy took out a big watermelon halloween costume and a huge makeup box. ‘You can put on this and do some color on yourself. That way I can sell you as a watermelon’
Lemon has a choice to make today. Does she want to pretend to be a watermelon or she would continue to be a lemon. If she pretends once, does that leave a mark on her blood forever? If she insists on her true lemon identity, how is she going to make it to the world?
“The Market for Lemons: Quality Uncertainty and the Market Mechanism” is a 1970 paper by the economist George Akerlof. It discusses information asymmetry, which occurs when the seller knows more about a product than the buyer. A lemon is an American slang term for a car that is found to be defective only after it has been bought. Akerlof, Michael Spence, and Joseph Stiglitz jointly received the Nobel Memorial Prize in Economic Sciences in 2001 for their research related to asymmetric information. Akerlof’s paper uses the market for used cars as an example of the problem of quality uncertainty. It concludes that owners of good cars will not place their cars on the used car market. This is sometimes summarized as “the bad driving out the good” in the market. (source – wiki)