6 ms·
What you're missing out on is information asymmetry. If you're insuring against a risk, and you have more information than the insurer, you may be profiting an
by barrkel 6y ago
What you're missing out on is information asymmetry.
If you're insuring against a risk, and you have more information than the insurer, you may be profiting and the insurer may be running a loss.
If you're picking out your own groceries, you can select the pristine fruit and vegetables, and the grocery store takes the loss. With a disinterested picker, you take a portion of the loss.
- cortesoft 6y agoYou take a disproportionate portion of the loss, because in person shoppers are taking the pristine fruit, leaving more non-pristine fruit for the pickers.