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Course review

2.10 Market failure - asymmetric information

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Learning objective

2.10.1 (HL)—Asymmetric information

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• Asymmetric information occurs when one side of a transaction has more or better information • Adverse selection and moral hazard are key cases

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Learning objective

2.10.2 (HL)—Responses to asymmetric information

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• Government responses include legislation, regulation, and provision of information • Private responses include signalling and screening

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