pinkeagle52Lv1
5 Nov 2021
Problem 20
Page 396
Section: CRITICAL THINKING QUESTIONS
Chapter 16: Information, Risk, and Insurance
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5 Nov 2021
Introduction
The problem of imperfect information is a major constraint while coming into a transaction by two parties. This arises when one party or both have less than full information about the transaction. In the current case of a website offering a place for people to buy and sell emeralds, the buyers have imperfect information about the quality of the product and hence might not take optimal decision while buying.
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