This site has changed its original purpouse, because we have changed our vision about the topic. The information and knowledge Society has ever existed(it's only the repository), whatever hasn´t exist are the access to the information and to the criteria(knowledge-education) to interiorize it. The challenge is not only on applying Science and Technology but also on learning to think better(Innovation, systemic thinking and evolution as the main process). Thanks.

5/26/2009

Asymmetric information: different people knowing different things

Information imperfections are pervasive
Asymmetries of information are one important form of information imperfections
  • Workers know more about their ability than firm
  • Insured knows more about health, smoking, than insurance firm
  • Owner of car knows more about car than potential buyer
  • Owner of firm knows more about firm than potential investor
  • Borrower knows more about his risk and risk taking than lender
  • Current employer knows more about employee than other potential employees

publicadas por Mike a la/s 12:18:00 p.m. | 0 Comentarios