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The phrase "asymmetric information" is something of an overloaded statement in that the concept has many dimensions & applications, each of which stretch the definition to mean something appreciably different. However, the simplest & most contemporary definition for the concept might be simply "information inequality."
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In the opinionated contemporary discourse, inequality is thought of as a function of distribution, & thus it is an appropriate descriptor here, because in the context technological trends & market events, credible information is not evenly distributed & individuals encounter tremendous disparity in their access to it.
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If we think of credible information as the basic resource from which wealth & all manner of positive externalities originate, then we can see that credible information is essential to individual & general prosperity within any group. It follows then that gaining greater access to credible information is paramount.
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"Greater access" to credible information can be attained in two discrete ways, A) by reducing proximity to sources of credible information & B) by increasing one's ability to evaluate information attained from existing sources for credibility. Optimize for both, & information quality & in turn credibility, is enhanced.
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With credible information being the raw resource from which positive externalities are drawn, if we increase the quality of our information streams, we directly increase our ability to contribute & extract value from the marketplace. In financial terms we might think of this as alpha or ROI in excess of some benchmark.
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