How does asymmetrical information affect the product market?
PLEASE USE ANY CITATION, EXCEPT WIKIPEDIA, ENCARTA, OR WORLD BOOK© BrainMass Inc. brainmass.com March 21, 2019, 8:47 pm ad1c9bdddf
The response addresses the queries posted with references.
// In this paper, we will discuss about asymmetrical information in context of product market. The paper will also include the impact of asymmetrical information in product market. With the help of an example, we will elaborate how asymmetrical information of the product affects market efficiency.//
Market efficiency is increased by effective utilization of available resources in every industry. Effective information about the product is also necessary for increasing the efficiency of product market. Two parties (buyer and seller) are involved in the exchange of commodity. When one party usually, the seller has more information about the product attributes, such as quality and price etc. but the buyer does not have enough information product attributes, then it is known as asymmetric ...
The response addresses the queries posted in 500 words with references.