The problem of information asymmetry came up as part of our discussion of clarity and it struck me far more this time than it did when first introduced. I really had just taken information symmetry for granted than I though I realized tonight. I use and access websites which contain data which would have taken weeks to acquire even 40 years ago. Taking design as an example, If I want to find who designed anything from a retail store layout to the interior of my car or just about any other fact. I can likely find it in the most surface layers of the internet. Where as 40 to 50 years ago I would have to have to go to a large library probably request a book that would be able to tell me what professional organization to write just to find that information. Now I can not only find that person’s name but I can probably find their personal website and if had enough money hire them if I so chose. This represents a massive gain for entrepreneurs who now not only can find the best people in their industry but hire them while jumping through minimal hoops on their end. This is also creates sales opportunities for designers and their firms who can now tailor their online presence to attract the clients they want. The reduction in information asymmetry allows more compatible prospects to find each other quickly. The designer or his firm can find out more about their client and what they would like to do before they even go into the meeting allowing them to ask more focused a relevant questions to get to the clients pain quickly. All of this leads to a sales environment which allows compatible projects to be found by the best designer and projects to find their best designer. Of course all of this applies to the broader business world as well.
FrenchJA21 
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riehljb21 3 thoughts on “Information Asymmetry in the Digital Age”
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This is a really good thought. I had thought about information symmetry, in terms of sales and how the customer can come with lots of good information. But had not thought about in this way! Good perspective I had not thought of!
The thought process of this is weird to think today but is still obvious to our knowledge. The access we have to starting business makes this process much faster within research to avoid legal disputes and fines due to stolen names and ect… .
Good post! The asymmetry in information is something that also stuck out to me! The opportunity that we have as students to access data and the information through so many different sources/ platforms is incredible. I often think how school would have been so much different without it.