Microeconomics II: Shape Your Economic Worldview - Think Like an Economist - Asymmetric Information
3 important questions on Microeconomics II: Shape Your Economic Worldview - Think Like an Economist - Asymmetric Information
When one possesses better decision-influencing information than the other.
Asymmetric information
Flows from the fact that agents don't always act in the best interest of of their principals.
Principal-Agent Problem
Risk taking occurs because someone else bears the burden.
Moral Hazard
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