The concept of adverse selection is used to identify a market process in which low-quality products or customers are more likely to be selected as a result of the possession of asymmetric information by the two sides of the market transaction. In this situation the better-informed side may take trading decisions that adversely affect the […]
Advertising is a form of mass media designed to promote a specific product, service, or idea on behalf of a business or organization. Advertisers ordinarily use media such as television, radio, print (magazines, newspapers, and billboards), sponsorship of cultural and sporting events, and the Internet. From the Industrial Revolution to the mid-twentieth century, advertising in […]