Question

in team-based environments, the principal may have difficulty determining individual contributions by members. this can create a situation in which an opportunistic employee does little work but takes credit. this is known as .

Answer 1

In team-based environments, the principal may have difficulty determining individual contributions by members. This can create a situation in which an opportunistic employee does little work but takes credit and this is known as adverse selection.

What is Adverse selection?

• In general, the term "adverse selection" refers to a situation in which sellers have knowledge about a certain feature of product quality but purchasers do not, or vice versa. In other words, it is an instance of the use of asymmetric information.
• When one side to a transaction has more in-depth knowledge of the relevant facts than the other, this is known as asymmetric information, also known as information failure.
• Usually, the vendor is the one who has more knowledge. When both parties are knowledgeable, it is said that there is symmetric information.

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