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Economics of Asymmetric information

Seyed Hossein Mirjalili

MPRA Paper from University Library of Munich, Germany

Abstract: This article begins by examining the origins of the economics of asymmetric information through questioning one of the assumptions of the theory of perfect competition, and then turns to Hayek’s pioneering article on the use of information in society. The third section addresses the emergence of the field of information economics, while the fourth explains the awarding of the Nobel Prize for research in this area. The fifth section discusses the role of information in economic analysis, and the sixth elaborates on asymmetric information and the ways to overcome information asymmetry.

Keywords: Economics; Asymmetric; information (search for similar items in EconPapers)
JEL-codes: D82 D83 (search for similar items in EconPapers)
Date: 2009-03, Revised 2009-07
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Published in Bimonthly Journal of Economic Political Etelaat 270.22(2009): pp. 150-161

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:125774

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