ISA RC02 Economy & Society

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New Article: Donald Light and Joel Lexchin. Pharmaceuticals as a market for “lemons”: Theory and practice

Donald Light and Joel Lexchin have an article forthcoming in Social Science and Medicine that may interest fellow economic sociologists. “Pharmaceuticals as a Market for ‘Lemons’” recasts the economic theory of markets for “lemons” that helped Ackerof win the Nobel Prize in a more sociological way, and then applies it to pharmaceutical markets, where many products have risks and flaws that the sellers do not disclose to the buyers. Here is the link to the article: https://www.sciencedirect.com/science/article/pii/S0277953620305876?via%3Dihub