Question: 6) Asymmetric information is a situation that arises when one partys insufficient knowledge of the other party involved in a transaction makes it impossible to

6) Asymmetric information is a situation that arises when one partys insufficient knowledge of the other party involved in a transaction makes it impossible to make accurate decisions when conducting the transaction.

a. What other types of transactions outside the world of finance are characterized by the presence of asymmetric information?

b. Have any actions been taken to reduce the level of asymmetric information?

c. Have the actions been primarily designed to solve the problem of adverse selection or moral hazard or both?

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