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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Similar ideas to Information Asymmetry
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.
Today, however, what was once scarce is abundant. We’re drowning in information. There are more b...
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