If a buyer in an economic transaction has more information than the seller, the buyer benefits at the expense of the seller.This phenomenon is due to

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This phenomenon is known as adverse selection, where the buyer has more knowledge or information than the seller, leading to an unfair advantage and potentially resulting in the seller receiving less value for their product or service. Adverse selection can occur when one party to a transaction has better information or greater knowledge than the other party, resulting in an imbalance of power or knowledge.

If a Buyer in an Economic Transaction Has More Information