Information failure 2.0 / 5 based on 2 ratings ? EconomicsMarket failureASOCR Created by: JadeCreated on: 24-11-12 18:37 What is information failure? Information failure is a lack of information resulting in consumers and producers making decisions that do not maximise welfare. 1 of 4 Information failure is a form of? Market failure 2 of 4 What is asymmetric information? Asymmetric information is information that is not equally shared between two parties carrying out a transaction 3 of 4 When you visit a doctor with an illness - you rely on the doctors experience to give you the diagnosis and treatment you need. This is an example of? Asymmetric information 4 of 4
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