In this particular area you are addressing with the act is a critical one, if that is good to be our goal. It raises three issues today. The first one is economic theory. And the economics behind us, there has long been of human economics that functioning effective functioning of markets depend on information. Received theomists nobel prize in 2001 for their Research Related to what they called asymmetric information. This is exactly what is going on here. When you go to a hotel, you do not know anything about what you see. The hotel knows everything. This is a market with asymmetric information. They won the nobel prize because they shows the markets with that information underperformed what would otherwise be economic welfare for everyone, consumers in the overall economy. In particular, this and other researchers found that markets do not perform effectively, number one, if buyers cannot accurately assess the value before they buy. You go to a whole tell you not know what is going o
Transcripts For CSPAN2 Dr 20151107 archive.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from archive.org Daily Mail and Mail on Sunday newspapers.