Balancing the Scales: Halakha, the Firm, and Information Asymmetries
Sellers are typically better about product quality and sales practices than are purchasers, and might be tempted to exploit their superior knowledge to deceive buyers. Firms themselves, buyers, and third-parties attempt to level the playing field with a variety of confidence-building measures, including reputational signals, purchaser monitoring, and government regulations. This pragmatic approach has its echoes in Halakha --Jewish law-- which, too, was concerned about information asymmetries and which introduced countervailing measures.
|Date of creation:||1996|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: (212) 998-8936
Fax: (212) 995-3932
Web page: http://econ.as.nyu.edu/object/econ.cvstarr.htmlEmail:
More information through EDIRC
|Order Information:|| Postal: C.V. Starr Center, Department of Economics, New York University, 19 W. 4th Street, 6th Floor, New York, NY 10012|
When requesting a correction, please mention this item's handle: RePEc:cvs:starer:96-16. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Anne Stubing)
If references are entirely missing, you can add them using this form.