upplýsingaójöfnuður
Upplýsingaójöfnuður refers to a situation where one party in a transaction or interaction possesses significantly more or better information than the other party. This asymmetry of information can lead to inefficient outcomes and market failures. The party with superior information can exploit this advantage, potentially leading to adverse selection or moral hazard.
Adverse selection occurs when the uninformed party cannot distinguish between good and bad risks, leading them
Moral hazard arises when one party, shielded from the full consequences of their actions, behaves in a
Economic theory suggests various mechanisms to mitigate upplýsingaójöfnuður. These include signaling, where the informed party credibly