Examlex
Raw facts and figures are a form of data.
Asymmetric Information
A situation in economics where one party in a transaction has more or better information than the other, leading to potential imbalances in decisions and market outcomes.
Mechanism Design
A field in economics and game theory that seeks to create economic mechanisms or incentives to achieve desired objectives, often optimizing resource allocation.
Behavioral Economics
A branch of economics that uses the insights of psychology and economics to investigate decision making.
Lack of Information
A situation where individuals or entities do not have sufficient knowledge to make informed decisions.
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