Examlex
Batson -type protection has been extended to
Asymmetric Information
One of the parties to a transaction has information relevant to the transaction that the other party does not have.
Adverse Selection
A situation in which asymmetric information results in high-quality goods or high-quality consumers being squeezed out of transactions because they cannot demonstrate the quality of the product they are offering for sale.
Fair Bet
A wager in which the expected value to both parties involved is equal; no side has an advantage.
Standard 52-card Deck
A common set of playing cards used for a variety of games, consisting of four suits with thirteen ranks each.
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