Imperfect information for consumers

Information asymmetry exists when consumers have incomplete, uncertain or complex information on which to make a decision. The increasing complexity of modern markets, alongside the delegation of responsibility to the individual consumer, means information problems are more likely to lead to consumer detriment complex markets. While many questions about products and services have concrete and available answers, many are not, leading to consumer confusion in areas where the right choice is imperative. [PUBLICATION ABSTRACT]