Definitions for "Asymmetric information"
Keywords:  intimate, better, car, seller, quality
The failure of two parties to a transaction to have the same relevant information. Examples are buyers who know less about product quality than sellers, and lenders who know less about likely default than borrowers. Both are common in international markets.
Information that is known to some people but not to other people.
One group has more information about, say, on the well being of the company, than another. An example would be managers having more intimate knowledge about the company than a typical shareholder.