The failure of two parties to a transaction to have the same relevant information. Examples are buyers who know less about product quality than sellers, and lenders who know less about likely default [..]

Information that is known to some people but not to other people.

The differential of information between corporate insiders and outsiders regarding the company’s performance and prospects. Managers typically have more information about the company’s performance and prospects than owners and creditors.

The economics of information search tells us that everyone falls short of having perfect information. It suggests that everyone will have different information about different things. For example, if [..]

The situation in which managers have different (better) information about firms' prospects than do investors.

Non uniform dissemination of information so that it is unknown to some and known to others.

A situation where one party to a market transaction has more information about a product or service than the other.

occurs when information is held by one, but not all, of the parties to a transaction.

a situation in which the parties to a transaction have different information, as when the seller or a used car has more information about its quality then the buyer  

The Arrow–Debreu model is the basic model in which the two classical welfare theorems of economics are expressed. Under quite general assumptions, ...

a situation in which the parties to a transaction have different information, as when the seller or a used car has more information about its quality then the buyer

means that some agents have private information.

Information that is known to some people but not to other people.