The Efficacy of Information Policy: A Review of Archon Fung, Mary Graham, and David Weil's Full Disclosure: The Perils and Promise of Transparency
AbstractThe economics of information has identified an important role for government to correct situations where competition is not sufficient to reveal valuable information to consumers. Archon Fung, Mary Graham, and David Weil's Full Disclosure: The Perils and Promise of Transparency provides a thorough discussion of government-mandated disclosure policies. I use their book to frame an empirical assessment of whether these—and other information policies—have significantly reduced the costs to consumers created by imperfect information. My conclusion, which calls for more research, is that government information policies have amounted to weak solutions in search of a problem.
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Bibliographic InfoArticle provided by American Economic Association in its journal Journal of Economic Literature.
Volume (Year): 46 (2008)
Issue (Month): 3 (September)
Find related papers by JEL classification:
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
- D18 - Microeconomics - - Household Behavior - - - Consumer Protection
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- Seth Freedman & Melissa Kearney & Mara Lederman, 2012.
"Product Recalls, Imperfect Information, and Spillover Effects: Lessons from the Consumer Response to the 2007 Toy Recalls,"
The Review of Economics and Statistics,
MIT Press, vol. 94(2), pages 499-516, May.
- Seth M. Freedman & Melissa Schettini Kearney & Mara Lederman, 2009. "Product Recalls, Imperfect Information, and Spillover Effects: Lessons from the Consumer Response to the 2007 Toy Recalls," NBER Working Papers 15183, National Bureau of Economic Research, Inc.
- Green, Kesten C. & Armstrong, J. Scott, 2012. "Evidence on the effects of mandatory disclaimers in advertising," MPRA Paper 37766, University Library of Munich, Germany.
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