8. Identify the hidden attributes in the following markets and how they may impede market participants from exploiting all of the possible mutual gains from exchange:
a. A second-hand good being sold on eBay, Craigslist or a similar online platform
b. Renting apartments through Airbnb
c. Restaurants of varying quality
Explain how the following may facilitate mutually beneficial exchanges, even in the presence of hidden attributes:
Electronic ratings shared among past and prospective buyers and sellers
e. Exchanges among friends, and friends of friends
f. Trust and social preferences
g. Intermediate buyers and sellers, such as used car dealers
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8. Identify the hidden attributes in the following markets and how they may impede market participants from exploiting all of the possible mutual gains from exchange: