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The Power of Information

In: Trust: The Key to Social Cohesion and Growth in Latin America and the Caribbean

Author

Listed:
  • Phillip Keefer

    (Inter-American Development Bank)

  • Carlos Scartascini

    (Inter-American Development Bank)

Abstract

Information about the trustworthiness and civic behavior of others is the foundation of trust and citizenship. Unfortunately, exposure to traditional and social media may not build this foundation. On the contrary, because of biases in the way human beings acquire and process information, they may weaken it. However, intentional information interventions show promise. They can overcome these obstacles and change attitudes and beliefs for the better.

Suggested Citation

  • Phillip Keefer & Carlos Scartascini, 2022. "The Power of Information," IDB Publications (Book Chapters), in: Phillip Keefer & Carlos Scartascini (ed.), Trust: The Key to Social Cohesion and Growth in Latin America and the Caribbean, edition 1, chapter 9, pages 223-254, Inter-American Development Bank.
    • Handle: RePEc:idb:idbchp:11771-c9
    DOI: http://dx.doi.org/10.18235/0003792
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    References listed on IDEAS

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    More about this item

    Keywords

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    JEL classification:

    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • H83 - Public Economics - - Miscellaneous Issues - - - Public Administration
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth

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