Joshua buys a secondhand dresser over the Internet and, upon receipt of the dresser, discovers that the inside of one of the drawers is held in place by duct tape. This is an example of:

Question

Quizplus · Accepted Answer

This is an example of asymmetric information because Joshua was unaware of the dresser's condition (specifically, the drawer being held together by duct tape) before the purchase, indicating that the seller had more information about the product than the buyer.

Joshua Buys a Secondhand Dresser Over the Internet And, Upon