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Published in:
2021 | OriginalPaper | Chapter
Counterbalancing Asymmetric Information: A Process Driven Systems Thinking Approach to Information Sharing of Decentralized Databases
Authors : Mark Hoksbergen, Johnny Chan, Gabrielle Peko, David Sundaram
Published in: Context-Aware Systems and Applications, and Nature of Computation and Communication
Publisher: Springer International Publishing
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Abstract
This paper explores asymmetric information and how to counterbalance it. It utilizes the case study of a hypothetical company called “Hashable”. The purpose of this case study is to exemplify a proposed solution to address the information asymmetry faced by buyers of residential real estate in New Zealand. A procedural response is provided for organizing the information needed to make an informed decision on purchasing a property. A causal loop diagram is introduced to develop an understanding of the various stakeholders involved in the proposed solution and their interaction with the information they provide. This paper highlights the core problems regarding information asymmetry within a transaction. It also provides procedural and technological solutions to counterbalance this information asymmetry while simultaneously reducing information costs and increasing reliability of the information provided.