Information ________ Exists When One Party in a Transaction Has

question 55

Multiple Choice

Information ________ exists when one party in a transaction has more information that is important for the transaction than the other party.

• A) transparency
• B) asymmetry
• C) complexity
• D) discrimination
• E) optimization

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Definitions:

BATNA

Best Alternative To a Negotiated Agreement, the course of action that will be taken by a party engaged in negotiations if the current talks fail and an agreement cannot be reached.

Negotiated Settlement

An agreement reached between disputing parties without the need for a court or legal ruling, often through direct discussions or mediation.

Attitudinal Structuring

A technique used in negotiations and conflict resolution where parties work to improve their attitudes and perceptions about each other.

Social Contract

A theoretical framework suggesting that individuals live together in society in accordance with an agreement that establishes moral and political rules of behavior.