What does "information asymmetry mean"? What consequences can it cause? Q2: What does "Market Efficiency" mean? Q3: How does the Value Relevance/Information Approach differ from the Measurement Approach? Q4: Why does the trade-off between relevance and reliability exist? 

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Q1 Information asymmetry refers to a situation in which one party in a transaction has access to more or superior information ... View the full answer