Jan's car is in need of repair, so Jan decides to sell it to avoid the repair bill. Unaware of the problem, Pieter buys the car. This is an example of

Name: Jan's car is in need of repair, so Jan decides to sell it to avoid the repair bill. Unaware of the problem, Pieter buys the car. This is an example of
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Question

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This scenario is an example of adverse selection, as the seller (Jan) had more information about the car's condition than the buyer (Pieter), leading to an unequal exchange.

Jan's Car Is in Need of Repair, So Jan Decides