Examlex
Explain how a model can be useful even if it is not realistic.
Adverse Selection
A situation where asymmetric information leads to the selection of undesirable participants in a contract or agreement, often seen in insurance and financial markets.
Bank Deposits
Funds that customers place into banking institutions for safekeeping and to earn interest.
Asymmetric Information
A situation in markets where one party in a transaction has more or superior information compared to another.
Independent Agency
An independent agency is a governmental body designed to operate independently of political influence, often responsible for regulating certain aspects of the economy or society.
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