I think we're seeing a shift in this circumstance though. A central tenant of the Lemon effect is that it "appears in markets where buyers know much less about goods being sold than sellers". With regard to consumers, we have far more information available than ever before, and not in the most basic sense like spec sheets and feature lists. I'm referring to social intelligence, which provides far more subtle details.
We are individually connected to more people than we have ever been in the past. As we, collectively, begin to share more and more of our experience in the open on the internet, the data set from which we can assess the satisfaction of a user base grows larger and larger.
It has become trite to say that "big data" is where it's at for 2012, but I think we've all become a little bit numb to what that means. I would consider issues like the Lemon Effect to be "big problems". There's a very real possibility that we could solve this problem in the near future. That's pretty exciting.
We are individually connected to more people than we have ever been in the past. As we, collectively, begin to share more and more of our experience in the open on the internet, the data set from which we can assess the satisfaction of a user base grows larger and larger.
It has become trite to say that "big data" is where it's at for 2012, but I think we've all become a little bit numb to what that means. I would consider issues like the Lemon Effect to be "big problems". There's a very real possibility that we could solve this problem in the near future. That's pretty exciting.