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Seinfeld Economics: The Pitch
by Linda Ghent `

Asymmetric information occurs when one party has more or better information than the other. This creates an imbalance of power in transactions that can sometimes cause the transactions to go awry.

 

This Commentary is related to the following Clips:
Seinfeld: The Pitch by Larry David & Jerry Seinfeld (1992) Newman trades Kramer a helmet for a radar detector. Jerry thinks Kramer is getting ripped off; later Kramer tells Jerry that the radar detector didn't work!