Information Asymmetry
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Information Asymmetry is a condition where the participating parties possess different levels of insights into certain agreements that may cause unfair advantage on the side who own more insights. A mathematical treatise on the subject of information asymmetry can be found here[1].
Information Asymmetry is also a term explicitly defined in the literature in economic theories.
References
- ↑ Yao, Andrew (1982). Theory and Applications of Trapdoor Functions (PDF) (Extended Abstract). local page: U.C. Berkeley. Retrieved September 1, 2021.