Asymmetric Information

Adverse Selection
An economics term defined as the tendency for a contract to attract the types of agent that are least profitable for the issuer, often due to asymmetric information.
Agency Problem
An examination of the agency problem, defined as the difficulties encountered when a principal delegates a task to an agent, highlighting issues of asymmetric information and incomplete contracts.
Agency Theory
An exploration of agency theory, focusing on the contractual relationship between a principal and an agent, asymmetric information, and incentive mechanisms.
Market for Lemons
An economic theory that describes how asymmetric information can cause market failure, often illustrated through the used-car market.
Moral Hazard
The observation that a contract promising payment for certain events changes behavior to increase the likelihood of these events.
Signalling
Actions undertaken primarily to convey information to prospective customers or employers, particularly in the context of asymmetric information.
Trust
An exploration of trust in economic contexts, particularly in situations of asymmetric information and repeated games.
Voluntary Exchange
Detailed exploration of the concept of voluntary exchange within the field of economics.