The fifth in a series of study resources on Microeconomics that will provide an understanding on market failure and it’s causes.
This study resource takes a look at how information failure – a type of market failure – can occur because both individuals or firms have a lack of accurate or relevant information required to make informed economic decisions.
- Causes of information failure
- Asymmetric information (Adverse selection and moral hazard)
- Methods to resolve information failure
- Behavioral insights and nudge theory
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