Information asymmetry happens when buyers and sellers have different levels of information, leading to adverse selection in the market. Adverse selection occurs when one party, either the buyer or the seller, has hidden information about the product and makes buying or selling decisions based on that information. For example, in the used car market, buyers cannot know everything about the cars and cannot fully trust them. Because of this, they often try to buy used cars at lower prices to evaluate their quality. To make buyers feel more confident, sellers might promise to repair the car free of charge if it breaks within a year after purchase, protecting themselves against adverse selection. A successful transaction depends on strategies that align with the market’s specific characteristics. - Joseph’s “just my thoughts”
The northern hemisphere is in summer, while the southern hemisphere is in winter. Argentina’s Patagonia experiences temperatures as low as -16 °C for a week, even during the summer season in the northern hemisphere. This phenomenon makes it clear that the season is not merely a concept of time. You are correct in viewing the season in terms of place and environment. If you live in the same place simultaneously, both the place and the environment affect human beings. Nevertheless, we keep making excuses. Making excuses about time doesn’t cost anything, and it has a universality that is easy to sympathize with… - Joseph’s “just my thoughts”