In traditional game theory the order of moves was only relevant if there was asymmetric information.
The reason for this is the familiar story of asymmetric information between lenders and borrowers.
Another common way to motivate the absence of state contingent securities is asymmetric information between agents.
With technology increasing, the likelihood of asymmetric information happening is declining.
Also, implicit contracts have been playing an important role in explaining credit rationing under asymmetric information.
The market for used cars collapses when there is asymmetric information.
Pecking Order theory tries to capture the costs of asymmetric information.
The play in the game of asymmetric information is less clear.
He is particularly famous for his work on incentives under asymmetric information.
These situations of asymmetric information are very common in economics and behavioral biology.