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Perfect information
George Akerlof
Adverse selection
Economics
Contract theory
Moral hazard
Principal-agent problem
Real prices and ideal prices
Key terms: information signal information asymmetry market party economics skilled college example learning insurance situations adverse selection models cannot nobel screening spence prize akerlof effectively lacks ability whereas other party risk retaliate ignorant stiglitz buyer situations where transaction moral hazard theory usually george akerlof finishing people who asymmetric information Search external links cited by footnotes on Wikipedia page Information asymmetry: |
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