The potential risks of information asymmetry to buyers in the real estate market include overpaying for a property, buying a property with undisclosed issues, and being at a disadvantage in negotiations due to lack of information. This is because real estate agents may have more knowledge about the market and may use coded language to communicate information that the buyer is not privy to.
Author Steven Levitt, working with journalist Stephen Dubner, shows how economic theories can be use...
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