Re:The Folks Who Sell Your Corn Flakes are Acting Like Goldm...
by conanbatt on Friday September 13, 2013 @04:48PM
(#6383054)
The thing with asymmetric information is that it quickly becomes a fraudulent behavior, i.e. 2008 mortgage crisis.
When you know something the other party doesnt, and specially if that party doesnt have access to that information, its hard to see that situation as not abusive.
The game doesnt require cunning to be profitable to all parties, and information asymmetry is a tool to profit from a zero-sum like mindset.
On the other hand, the stock market operates vastly on insider trading, because even though its a rule, its very hard to enforce.
When you know something the other party doesnt, and specially if that party doesnt have access to that information, its hard to see that situation as not abusive.
The game doesnt require cunning to be profitable to all parties, and information asymmetry is a tool to profit from a zero-sum like mindset.
On the other hand, the stock market operates vastly on insider trading, because even though its a rule, its very hard to enforce.