Information Asymmetry - Deepstash
Information Asymmetry

Information Asymmetry

When one party has more information than another, it creates a power imbalance. This concept explains various phenomena, from car sales to internet fraud.

“Information is a beacon, a cudgel, an olive branch, a deterrent—all depending on who wields it and how.”

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Asymmetric Information

  • In 2001, George A. Akerlof, A. Michael Spence, and Joseph E. Stiglitz won the prize "for their analyses of markets with asymmetric information."
  • Economic models predicated on perfect information are often misguided. In reality, one party usually has superior knowledge

Too Much Information, Too Little Attention

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Throughout most of human history, access to knowledge was limited. Power equated to how much information you had access to. Kings built great libraries, and texts were rare and valuable things.

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6. Journalist

6. Journalist

  • Journalists rely on a ton of different thinking tools which allow them to write compelling stories that report the news fairly and accurately.
  • One of these thinking tools is fact-checking

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