When either the buyer or seller has more information that the other party, the market is said to have _____ information.

Question

Quizplus · Accepted Answer

Asymmetric information occurs when one party in a transaction has more or superior information compared to another. This often happens in markets where the seller knows more about the product than the buyer, potentially leading to an imbalance in the transaction.

When Either the Buyer or Seller Has More Information That