Think Like An Economist

S E23: Private Information - I Know Something You Don’t Know

Dec 22, 2020

19:22

Highlights

AI Chapters

Episode notes

What Happens When Sellers Know Something That Buyers Don't?

02:12

The Problem of Hidden Actions on Private Information

01:49

Insurance Against Divorce Is Good for People Who Think They're Going to Need It

02:38

Introduction

2min

What Happens When Sellers Know Something That Buyers Don't?

2min

Selling a Used Car

2min

Insurance Against Divorce - What Kind of Buyer Are You?

2min

Insurance Against Divorce Is Good for People Who Think They're Going to Need It

3min

Is There a High Deductable for Insurance?

2min

The Problem of Hidden Actions on Private Information

2min

How to Reduce Moral Hazard in Insurance

2min

What's the Problem of Private Information?

3min

What happens when you know something that others don't? Or they know something you don't? These information asymmetries can great create a fog of mistrust, and doing business can get tricky. Betsey Stevenson and Justin Wolfers help clear the economic fog, and find ways to restore that trust.

Co-Host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media Production

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