Interesting propositions from the pair of authors of “Freakonomics.” I especially enjoyed the author’s recap of his appearance with Pat Robertson, on the CBN. The transcript of the appearance hits what must be some of the book’... [Read More]

If, say, the seller knows how far he has driven his car and what kind of fuel he put into it, the buyer knows things unknown to the seller such as how soon he must have a car, what money is worth to him just now, what he wants the car for, and whether he prefers it much to other cars also available at the same time and price.

Without information assymetry in the sense of DIFFERING information about the object of an exchange, no exchange would ever take place.

In an email conversation with Joe Potts, inspired by a comment on my Freakonomics review, the idea that information assymetry and knowledge management might be on opposite sides of the fence came up. My thoughts on this follow. [Read More]