What is Asymmetric Information? Definition + Examples from Economics

What is Asymmetric Information? Definition + Examples from Economics

As the world has become more specialized and complex, people have come to rely more and more on experts to guide them through major life decisions. This is largely driven by fear of making a wrong decision that might result in financial ruin or even physical harm. As we’ve discussed above, however, experts are hardly neutral arbiters of truth who are selflessly devoted to guiding you through the trials and tribulations of a staggeringly complex world. Rather, they are often self-interested, equally fallible humans who seek to use their superior information to gain an advantage on you. This unequal distribution

Early Childhood Longitudinal Study (ECLS): What Did It Reveal?

Early Childhood Longitudinal Study (ECLS): What Did It Reveal?

The Early Childhood Longitudinal Study (ECLS), launched by the US. Department of Education in the 1990s, measured the academic progress of over 20,000 students as they progressed from kindergarten to the fifth grade, interviewing parents and educators and asking a broad range of questions about the children’s home environment. The study provided an ample resource of data that researchers could use to identify more statistically meaningful relationships between specific parenting tactics and children’s academic outcomes.