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The term that is used to refer to a situation in which one party to an economic transaction has less information than the other party is
Implicit Memory
Memory that enables people to perform tasks without conscious awareness of these previous experiences.
Episodic Memory System
The episodic memory system is a part of the brain's memory system responsible for storing specific events or episodes that occurred at a particular time and place.
Procedural Memory System
The part of the long-term memory responsible for knowing how to do things, also known as muscle memory.
Permastore Memory System
A concept in memory studies suggesting some types of memories can be stored permanently, resistant to forgetting.
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