Examlex
In job enrichment, ________ is the degree to which a job gives the worker direct, timely information about the quality of her/his performance.
Informational Asymmetry
A situation where one party in a transaction has more or superior information compared to another. This often leads to an imbalance in power or decision-making.
Hidden Action
A situation in principal-agent relationships where the agent's actions are not fully observable by the principal, potentially leading to agency problems.
Hidden Characteristic
A quality of a product or service that is not immediately observable to the buyer, often leading to information asymmetry in the market.
Transitive
In logic and mathematics, transitive refers to a relation where if it applies between successive pairs in a sequence, it also applies between any two members taken in order. For example, if A is larger than B, and B is larger than C, then A is larger than C.
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