Please forward this error screen to 185. Information has the economics of software quality pdf characteristics: It is easy to create but hard to trust.
It is easy to spread but hard to control. The present article reflects topics included in that code. Next to market coordination through the price mechanism, transactions can also be executed within organizations. Expecting the other side to have better information can lead to a change in behavior. The less informed party may try to prevent the other from taking advantage of him. This change in behavior may cause inefficiency. There are two primary solutions to this problem, signalling and screening.
He proposed that in a situation with information asymmetry, it is possible for people to signal their type, thus credibly transferring information to the other party and resolving the asymmetry. This idea was originally studied in the context of looking for a job. An employer is interested in hiring a new employee who is skilled in learning. Of course, all prospective employees will claim to be skilled at learning, but only they know if they really are.