With regards the financial crisis, I recommend Why did so many people make ex post bad decisions, which summarises various pieces of research to argue that the basic problem was over-optimism with regard housing prices, whereas asymmetric information was not a big issue.
With regards the financial crisis, I recommend Why did so many people make ex post bad decisions, which summarises various pieces of research to argue that the basic problem was over-optimism with regard housing prices, whereas asymmetric information was not a big issue.