Econ 479

The Art of Writing, the Science of Economics

Asymmetric information

The opposite is not perfect information, but symmetric information, as the authors point out in this concept-rich piece. A sample:

Rather than living in a world dominated by moral hazard, we live in a world dominated by firms so eager to sell quality products that they will often guarantee our satisfaction or take the product back for any reason with full refund (sometimes less postage).

See here for more.

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Written by gregorymcnamee

April 22, 2015 at 2:39 am

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