Question

Roger moved to a new city and had to find a new primary care doctor. He had great difficulty choosing because he could find no ratings or reviews about the quality of care from any of the local doctors. Roger's situation is a form of __________. information asymmetry the Affordable Care Act purchasing cooperative symmetrical information

Answer 1

Roger's situation is a form of information asymmetry.

Step-by-step explanation:

According to the economy of information, information asymmetry refers to a transaction in which one part of it has better information than the other part. It is possible that the other part doesn't even have accurate information about something.

For example, in case of the market, the seller might have better information about what he/she wants to sell than the buyer.

In this case, Roger needs to find a new primary doctor but he has no information whatsoever since there are no ratings, thus it is going to be a hard task for him since he doesn't have the information.