Regulation, Living Cost, and Economic Welfare: a Comparative Analysis of Japanese and U.S. Food Labeling Systems
AbstractThis paper explores the positive and normative effects of regulations governing the disclosure of product information. As an example, a Japanese food labeling system which requires explicit display of expiration dates is compared with a U.S. system which permits the encoding of expiration dates. The paper shows that, when the sellers cannot price-discriminate items with different shelf ages, the Japanese system will lead to a greater amount of wastage and a higher price that the U.S. system. The welfare ranking is generally indeterminate, but the Japanese system could sometimes yield lower economic welfare by interacting with the pre-existing price distortions.
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Bibliographic InfoPaper provided by California Irvine - School of Social Sciences in its series Papers with number 99-00-26.
Length: 31 pages
Date of creation: 2000
Date of revision:
Contact details of provider:
Postal: UNIVERSITY OF CALIFORNIA IRVINE, SCHOOL OF SOCIAL SCIENCES, IRVINECALIFORNIA 91717 U.S.A.
FOOD ; LABELLING ; CONSUMPTION ; INFORMATION ; SOCIAL POLICY;
Find related papers by JEL classification:
- D18 - Microeconomics - - Household Behavior - - - Consumer Protection
- L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
- M11 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - Production Management
- O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
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