The Two Trends of Transparency

Mia de Kuijper

in Profit Power Economics

Published in print October 2009 | ISBN: 9780195171631
Published online February 2010 | e-ISBN: 9780199871353 | DOI:
 The Two Trends of Transparency

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Chapter 3 introduces transparency and discusses the two inevitable trends that are unleashed by the falling cost of information, namely the emergence of perfect information and interdependent decision making. This chapter maps out the effects of the first inevitable trend, namely the emergence of perfect information on markets, contracts, etc., and addresses the benefits that result from wiping out imperfect information and its ill economic effects (e.g. the lemon problem, cheating, moral hazard).

Keywords: transparency; inevitable trends; unleashed; perfect information; interdependent decision making; markets; contracts; imperfect information; lemon; moral hazard

Chapter.  6409 words. 

Subjects: Macroeconomics and Monetary Economics

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