The 2001 Nobel Prize in Economics was awarded to George Akerlof,Michael Spence,and Joseph Stiglitz.The subject of their work described how actors on one side of the market had much better information than those on the other side.What is this topic called

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Asymmetric information refers to the situation where one party in a transaction has more or better information than the other party. This can lead to market inefficiencies and suboptimal outcomes. Akerlof, Spence, and Stiglitz's work focused on the impact of asymmetric information on markets and how it can lead to adverse selection, moral hazard, and other problems.

The 2001 Nobel Prize in Economics Was Awarded to George