Monday, November 26, 2007
Chapter 2
It is crazy to think that you can compare two things that seem so different but in the end have one common underlying feature, Information. The only reason that someone would seem to have a edge over another person is information. If you knew everything that a real estate agent does would you need to hire them? Such professions only exist because the asymmetric information. As with the discrimination/racism, people might say one thing so to look favorable in others eyes, but do the complete opposite. It could not mean that they are racist though, it could just mean that they prefer a certain characteristic or that it is what they are use to having. Or like on the dating site when they say race/religion/anything else doesn't matter it could be that they will go for one set of characteristics, however if someone of the other characteristics approaches them they will consider choosing them. Now that we know some of the information that real estate agents use it is up to use to choose to use this information in our decision making process, or we are just letting the asymmetric information problem continue.
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4 comments:
You made some great point here. I think racism is a complex issue. I do agree with you that just because a person prefers to date a particular race doesn’t mean he/she is racist. A person is racist when he try to prevent someone from achieving certain goals in his/her life because of his or her race, or in some cases do a person harm whether physically, socially, or emotionally because of his race.
As for the information asymmetry problem, the internet has brought all of us some relief with that problem, but I must say that, it’s probably never going to be solved entirely because of specialization. We’re never going to know everything about everything. Someone is always going to be an expert at something and a moron at another, but the tables do turn in each person’s favor from time to time.
That is whats great about the internet now. Just like Molly was saying in class with those websites where people provide answers to questions. I think we will have a lot of information before we make decisions soon but not all the info we would like to have.
Humans will never have all the information they want as long as society exists. Without some sort of information assymetry, everyone would technically be just as qualified as the next. If I knew all the problems with a specific house just like my real estate agent, why would I need to hire this agent? People would be without jobs and most general information would become heresay.
I feel that almost all people just take the easy way out and are a little bit lazy in the fact that they make stereotypes. Like with dating, its easier to base your opinions on a characteristic that you can plainly see. People make judgements about the opposite sex all the time. Like a guy sees a girl with a short skirt on and decides to talk to her (you know why) as opposed to a girl with pants on who really has more in common with him. There's so much information out there, you have to start sorting it out somehow.
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