Asymmetric information is defined as

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    a situation in where a partys unobserved actions can affect the probability or magnitude of a payout..
     a process by which sellers send signals to buyers conveying information about a product or services quality..
     a situation in which a buyer and a seller possess different information about a transaction.
     a form of market failure that results when products of different qualities are sold for a single price.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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a situation in which a buyer and a seller possess different information about a transaction.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)



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