he cites examples of what are--at least at the time,

他举的例子至少在那时候
where a single proprietor sort of business

一个独资企业店主
is marketing a product

在销售商品的时候
which was directly consumed by individuals

这些商品都是消费者直接使用
who knew the proprietors well,

而且也十分了解店主
and understood what good meat was from meat that wasn't good.

也知道如何分辨肉质的好与坏
And that also is increasingly irrelevant since his time,

这种假设从他那时开始变得越来越不恰当
because one of the most important things, I thought,

因为其中一个重要的因素
in one of your slides, was that there be perfect information.

在你的幻灯片里也显示了那就是完全信息
And on top of that, an embedded assumption there is

但前提是还要有个假设就是
that there has to be perfect information perfectly understood.

必须满足完全信息条件而且要充分理解
Absolutely.

一点不错