3 years ago

The asymmetric information problem in the market for healthcare services is _______.

Business

1 answer:

Vinil7 [7]3 years ago

8 0

Answer:

Explanation:

Asymmetric information is an instance of market failure.

It is when one party to a transaction possesses greater information or knowledge than the other party. e.g. when a seller possesses greater information than the buyer or when a buyer possesses greater information than the seller.

Individuals know when they have a more healthy lifestyle while their insurers might not be privy to such information due to privacy laws

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The asymmetric information problem in the market for healthcare services is​ _______.

The asymmetric information problem in the market for healthcare services is _______.