In economics and contract theory, information asymmetry deals with the study of decisions in transactions where one party has more or better information than the other. This creates an imbalance of power in transactions which can sometimes cause the transactions to go awry. Examples of this problem are adverse selection and moral hazard. Most commonly, information asymmetries are studied in the context of principal-agent problems.
In 2001, the No...
more
Read article at Wikipedia
Information asymmetry
Award-Winning Work
Awards Won:
| Year | Award | Award Winner | Notes/Description |
|---|---|---|---|
|
|
Nobel Prize in Economics Winners
- 1977
- 1992
- 1998
- 2001
- 2005
Similar topics in Freebase
-
Spiroptera carcinoma
Gongylonema neoplasticum is a species of nematode. It was previously known as Spiroptera carcinoma. Under this name, it was the basis of the research that won Johannes Fibiger the 1926 Nobel Prize in Physiology or Medicine. His research indicated that nematode infection led reliably to gastric... -
Kuru
Kuru is an incurable degenerative neurological disorder (brain disease) that is a type of transmissible spongiform encephalopathy found in humans. Kuru is believed to be caused by prions and is related to Creutzfeldt-Jakob disease. It is best known for the epidemic that occurred in Papua New Guinea... -
Femtochemistry
Femtochemistry is the science that studies chemical reactions on extremely short timescales, approximately 10 seconds (one femtosecond, hence the name). In 1999, Ahmed H. Zewail received the Nobel Prize in Chemistry for his pioneering work in this field. Zewail’s technique uses flashes of laser... -
Nucleic acid
A nucleic acid is a macromolecule composed of chains of monomeric nucleotides. In biochemistry these molecules carry genetic information or form structures within cells. The most common nucleic acids are deoxyribonucleic acid (DNA) and ribonucleic acid (RNA). Nucleic acids are universal in living... -
Human capital
Human capital refers to the stock of skills and knowledge embodied in the ability to perform labor so as to produce economic value. It is the skills and knowledge gained by a worker through education and experience. Many early economic theories refer to it simply as workforce, one of three factors... -
Lupus vulgaris
Lupus vulgaris are painful cutaneous tuberculosis skin lesions with nodular appearance, most often on the face around nose, eyelids, lips, cheeks and ears. The lesions may ultimately develop into disfiguring skin ulcers if left untreated. In the 19th century, the chronic and progressive nature of...