Imperfect information
What is Imperfect information?
Written by J. Mance Gordon
Updated at April 23rd, 2024
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What is Imperfect information?
Every purchase is based on a belief about the satisfaction that the good or service will provide. In turn, these beliefs are based on the information that the buyer has available. For many products, the information available to the buyer or the seller is imperfect or unclear, which can either make buyers regret past purchases or avoid making future ones.
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