Roger moved to a new city and had to find a new primary care doctor. He had great difficulty choosing because he could find no ratings or reviews about the quality of care from any of the local doctors. Roger's situation is a form of __________.

Question

Quizplus · Accepted Answer

Roger's situation is an example of information asymmetry, which is a situation where one party in a transaction has more or better information than the other party. In this case, Roger has difficulty finding information about the quality of care provided by local doctors, which makes it harder for him to make an informed decision about which doctor to choose.

Roger Moved to a New City and Had to Find