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ECONOMICS OF INFORMATION

The study of the role that information plays in the economy and in the allocation of resources, with special attention paid to efficient information search. Key topics in this area of study and analysis are asymmetric information, moral hazard, adverse selection, signalling, and screening. This study of the economics of information also provides insight into the analysis of risk and uncertainty, which are important to insurance and financial markets.

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PURPLE SMARPHIN
[What's This?]

Today, you are likely to spend a great deal of time at a crowded estate auction wanting to buy either a New York Yankees baseball cap or several magazines on home repairs. Be on the lookout for letters from the Internal Revenue Service.
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This isn't me! What am I?

The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
"An idea is never given to you without you being given the power to make it reality."

-- Richard Bach, Author

MTN
Multilateral Trade Negotiations
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