These examples all seem like efficient market or winners’ curse examples, not varieties of adverse selection, and in equilibrium, we shouldn’t see any inefficiency in the examples.
Adverse selection is such a large problem because a seller (or buyer) can’t update to know what type they’re facing (e.g a restaurant that sells good food vs bad food) and so offers a price that only one a subset of types would take, meaning there’s a subset of the market that gets doesn’t get served despite mutually beneficial transactions being possible.
In all of these examples, it’s possible to update from the signal—e.g. the empty parking spot, the restaurant with the short line—and adjust what you’re willing to pay for the goods.
I think these examples make the important point that one should indeed update on signals, but this is different to adverse selection because there’s a signal to update on, whereas in adverse selection cases you aren’t getting separating equilibria unless some types drop out of the market.
These examples all seem like efficient market or winners’ curse examples, not varieties of adverse selection, and in equilibrium, we shouldn’t see any inefficiency in the examples.
Adverse selection is such a large problem because a seller (or buyer) can’t update to know what type they’re facing (e.g a restaurant that sells good food vs bad food) and so offers a price that only one a subset of types would take, meaning there’s a subset of the market that gets doesn’t get served despite mutually beneficial transactions being possible.
In all of these examples, it’s possible to update from the signal—e.g. the empty parking spot, the restaurant with the short line—and adjust what you’re willing to pay for the goods.
I think these examples make the important point that one should indeed update on signals, but this is different to adverse selection because there’s a signal to update on, whereas in adverse selection cases you aren’t getting separating equilibria unless some types drop out of the market.