Examlex
There is a tree with degrees 3, 3, 2, 2, 1, 1, 1, 1.
Principal-Agent Problem
A dilemma in economics where one party (agent) is supposed to act in the best interest of another (principal) but may have a tendency to act in their own interest.
Asymmetric Information
A situation in which one party in a transaction has more or superior information compared to the other.
Informational Asymmetry
A situation where one party in a transaction has more or better information compared to another, potentially leading to an imbalance in power or unfair transactions.
Relevant Knowledge
Information or understanding that is directly applicable and beneficial to a particular situation or subject.
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