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Asymmetrical Information and Public Failure in the Myriad Decision

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  • Reginald Shareef

Abstract

The Public Value concept is a Public Management normative process that utilizes efficiency and ethics as co-equal determinants to assess organizational outcomes. As such, Public Value represents what Ghoshal calls intellectual pluralism or the utilization of normative management processes in the social sciences to challenge the intellectual absolutism of the Chicago School. One discipline where Public Value can be used to assess normative results is Legal Studies’ antitrust field. This research applies Public Value criteria in evaluating the U.S. Supreme Court’s 2013 ruling in Association for Molecular Pathology v. Myriad Genetics. The conclusions tentatively found the Court’s decision will (a) create Public Value at the macro level but (b) trigger public failure at the micro level for poor women because of an asymmetrical information network. This outcome fits with Stiglitz’s hypothesis concerning asymmetrical information and market failure. Further empirical research on Myriad’s policy is recommended.

Suggested Citation

  • Reginald Shareef, 2014. "Asymmetrical Information and Public Failure in the Myriad Decision," SAGE Open, , vol. 4(3), pages 21582440145, September.
    • Handle: RePEc:sae:sagope:v:4:y:2014:i:3:p:2158244014550615
    DOI: 10.1177/2158244014550615
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    References listed on IDEAS

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    1. Joseph E. Stiglitz, 2002. "Information and the Change in the Paradigm in Economics," American Economic Review, American Economic Association, vol. 92(3), pages 460-501, June.
    2. Friedman, Milton, 2002. "Capitalism and Freedom," University of Chicago Press Economics Books, University of Chicago Press, number 9780226264219, Febrero.
    3. Dorothea Baur & Hans Schmitz, 2012. "Corporations and NGOs: When Accountability Leads to Co-optation," Journal of Business Ethics, Springer, vol. 106(1), pages 9-21, March.
    4. Friedman, Milton, 2002. "Capitalism and Freedom," University of Chicago Press Economics Books, University of Chicago Press, number 9780226264202.
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