When a physician knows more about alternative treatments than her patients, we say that _______ exists.

Question

Quizplus · Accepted Answer

Asymmetric information refers to a situation where one party (in this case, the physician) has more information than the other party (the patients) in a transaction. This can lead to market failure and inefficiencies, as the patients may not have access to all relevant information to make informed decisions about their healthcare.

When a Physician Knows More About Alternative Treatments Than Her