An example of an information asymmetry is when some board of directors had an important role in luckin coffee but claimed to be unaware of any problems.
What is an Information asymmetry?
In a formal setting, this refers to a condition whereby a business party possesses more information than the other party they are dealing with.
These type of asymmetry are caused by differences in information between the parties in an economic transaction.
Therefore, the situation described is an example of an Information asymmetry.
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