Asymmetric knowledge question and solution ways in Turkish banking sector: Tokat province sample

The situation that one side of economic actors has much more information than the other side has or both of two sides don't have the same degree of information about each other is expressed with asymmetric information. In the cases that asymmetric information is valid, the more knowledgeable one among interacting economic actors gains unfair superiority against the other one and therefore it is impossible that economical activities are carried out in an active way. This issue leads to marketplace troubles. It is obvious that banking sector having huge effectiveness in the general of financial markets has an important role of asymmetric information problem during the accreditation activities. Asymmetric information problems in credit markets result in two important problems, reverse picking and moral hazard. In this study, the failures of the asymmetric information problem, especially on the credit markets, and the solution proposal that accompanies it are explained in detail. In addition, in the Turkish banking sector, traditional shared opinions and applications have been put forward in order to avoid the asymmetric information problem as a result of the questionnaire studies conducted by the public and private banks in Tokat province and the provinces, by referring to the sources of public information which they have benefited from. For the solution of this problem, literature and application results are under light; it is thought that the customer is a new entrepreneur and the orientation of the sector other than the sector in which he is operating has increased the problem of asymmetric information while considering the customer's social media accounts being trained and having high level of education and reducing the asymmetric information problem. From all these evaluations, it has been seen that reducing the financial losses that may occur in the banking sector as well as in all sectors, protection of banks' structures, increase in loan turnover rates and continuity of credit availability will be achieved by eliminating asymmetric information.