If you buy a priceless piece of artwork at an auction for mere dollars because you are the only one who recognizes the artist, you have used private information to your advantage.

Question

Quizplus · Accepted Answer

Private information is information that is not widely known or available to the public. In this scenario, your knowledge of the artist's value is private information that gives you an advantage at the auction.

If You Buy a Priceless Piece of Artwork at an Auction