This is largely a problem of "informational asymmetrics between agents," as Nassim Taleb would describe it. Or Gharrar as describe in Sharia law. "It is an ext

This is largely a problem of "informational asymmetrics between agents," as Nassim Taleb would describe it. Or Gharrar as describe in Sharia law. "It is an extremely sophisticated term in decision theory that does not exist in English; it means both uncertainty and deception –my personal take is that it means something beyond informational asymmetry between agents. It means inequality of uncertainty. Simply, as the aim is for both parties in a transaction to have the same uncertainty facing random outcomes, an asymmetry becomes equivalent to theft." The employer sees the entire talent pool and can therefore leverage this informational advantage to drive prices (wages) down. http://www.fooledbyrandomness.com/equality.pdf http://www.fooledbyrandomness.com/equality.pdf