13 June 2005

Freakonomics on Assymetric Information

Posted by Jameson Penn
Freakonomics
Steven Levitt and Stephen Dubner
[pg. 70]

If you were to assume that many experts use their information to your detriment, you'd be right. Experts depend on the fact that you don't have the information they do. Or that you are so bufuddled by the complexity of their operation that you wouldn't know what to do with the information if you had it...Armed with information, experts can exert a gigantic, if unspoken, leverage: fear.

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