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Which motivational theory focuses on social comparisons as a motivator?
Lemons Problem
A term in economics used to describe the issue of quality uncertainty in a market where sellers have more information about the product quality than buyers, leading to adverse selection.
Adverse Selection
A situation where asymmetric information leads to the selection of undesirable risks by one party in a transaction, often seen in insurance and financial markets.
Moral Hazard
When a party whose actions are unobserved can affect the probability or magnitude of a payment associated with an event.
Asymmetric Information
Asymmetric information exists when one party in a transaction has more or better information than the other, potentially leading to an imbalance in power or unfair outcomes.
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