Discussion Post: The Problem of Asymmetric Information
What is the problem of asymmetric information? Why is it so important to understand this problem? Watch the YouTube video "Asymmetric Information and Used Cars".
Many police officer positions require the applicant to have a college degree even though the tasks of a police officer rarely call upon college course material. Why don't police departments increase their applicant pool by dropping this requirement? As you answer this question and the problem of Type 1 and 2 errors and the human tendency to be risk-averse.
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.