This paper presents a formalized communicating process for dealing with information asymmetry between agents. A proactive process can improve the efficiency of dealing with asymmetry by allowing agents to take the initiative of communication in a goaloriented way. In the process, by reasoning on belief and intention about the world and figuring out the information needed, the agent proactively ...

This study proposes an information asymmetry hypothesis to examine why bank credit ratings vary among countries even when bank financial ratios remain constant. Countries are divided among those with low and high information asymmetry. The former include high-income countries, those in North America and West Europe regions, and those with strong institutional environment quality, whereas the la...