information asymmetry
/ˌɪnfərˈmeɪʃən eɪˈsɪmətri/
a situation where some players have more information than others
information asymmetry in a sentence
“Used car markets suffer from information asymmetry.”
Origin of information asymmetry
From information + asymmetry (Greek a- without + symmetria)
Related Words
game theory
the study of mathematical models of strategic interaction
Nash equilibrium
a state where no player benefits by unilaterally changing strategy
payoff
the reward or outcome a player receives from a strategy
dominant strategy
a strategy that yields the best outcome regardless of opponents' choices
zero-sum game
a situation where one player's gain equals another's loss
positive-sum game
a situation where all players can benefit simultaneously