Tag: Decision Making
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Information Asymmetry
Information asymmetry is when one group knows more than another during a deal or interaction, which can tilt the balance of power. This can lead to unfair transactions, market issues, and power imbalances in areas such as finance, health, politics, and education, impacting decision-making and overall fairness.
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Agency
Agency refers to an individual’s ability to act independently, make their own choices, and influence their surroundings. It is a dynamic concept, evolving with personal growth, knowledge, and experiences.
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The Basics
In any field, the basics serve as the groundwork on which advanced knowledge is built. If you don’t have a solid grasp of the basics, you’re likely to struggle when more complex concepts or techniques are introduced. This is the educational equivalent of constructing a building—without a solid foundation, the higher stories won’t stand.