Tim decides to hide a blow torch from his co-host, Al, in order to teach a lesson to his young children watching at home. Unfortunately, Al doesn’t know that the blow torch has been hidden and he believes he has lost the item on live television. Asymmetric information occurs when one party has more information than the other party in a transaction. When one party has more information, they are better able to make decisions and make take advantage of the unknowing party.
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