Asymmetric Information, including: Moral Hazard, The Market For Lemons, Delegation, Contract Theory, Adverse Selection, Information Asymmetry, ... Economics, Agency Cost, Agent (economics)

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More info: In economics and contract theory, information asymmetry deals with the study of decisions in transactions where one party has more or better information than the other. This creates an imbalance of power in transactions which can sometimes cause the transactions to go awry. Examples of this problem are adverse selection and moral hazard. Most commonly, information asymmetries are studied in the context of principal-agent problems.