Information asymmetry in the context of the real estate market refers to the situation where one party, typically the real estate agent, has more or better information than the other party, usually the buyer or seller. This can lead to an imbalance in the transaction, with the party having more information potentially exploiting their knowledge to their advantage. For instance, they might use their knowledge to influence market perceptions or use coded language to communicate information not readily available to the other party.
Author Steven Levitt, working with journalist Stephen Dubner, shows how economic theories can be use...
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