infoasümmetriat

Asymmetric information, often referred to as infoasymmetry, describes a situation in economic transactions where one party possesses more or better information than the other. This imbalance can significantly impact decision-making and lead to market inefficiencies. In such scenarios, the informed party can potentially exploit their knowledge to their advantage, while the uninformed party may make suboptimal choices.

There are two primary types of asymmetric information: adverse selection and moral hazard. Adverse selection occurs before a transaction takes place. For example, in the used car market, sellers typically know more about a car's condition than potential buyers. This can lead to buyers being wary of purchasing any used car, fearing they might get a "lemon." Moral hazard arises after a transaction has occurred, where one party changes their behavior because the other party bears the cost of that behavior. An example is an insured individual taking on more risk because they know their insurance will cover potential losses.

Information asymmetry is a common feature in many markets, including insurance, finance, labor, and credit. It can lead to market failures, where the market does not allocate resources efficiently. Various mechanisms have evolved to mitigate infoasymmetry, such as warranties, guarantees, signaling (e.g., educational degrees), and screening (e.g., insurance medical exams). Regulations and consumer protection laws also aim to reduce the negative consequences of information imbalances.