Subject: moral hazard; information economics; consumer behavior; behavioral economics; adverse selection
This paper reviews and synthesizes the theory of information economics and empirical evidence on how information changes the behavior of consumers, households and firms. I show that consumers respond to new information in food experiments but perhaps not in retirement a... View more
Akerlof, G. “The Market for Lemons: Quality Uncertainty and the Market Mechanism.” Quarterly Journal of Economics 84(1970):488-500.
Choi, J.J., D. Laibson, B.C. Madrin, and A. Metrick. “Saving for Retirement on the Path of Least Resistance.” In E. McCaffrey and J. Slemrod, Eds., Behavioral Public Finance: Toward a New Agenda. New York, NY: Russell Sage Foundation, 2006, pp. 304-351.
Choi, J.J., D. Laibson and B.C. Madrian. “Are Empowerment and Education Enough? Underdiversification in 401(k) Plans.” Brookings Papers on Economic Activity 2005, pp. 151-198.
Cohen, S. N., A. C. Y. Chang, H. Boyer, and R. B. Helling. “Construction of Biologically Functional Bacterial Plasmids in Vitro.” Proceedings of the National Academy of Sciences U.S.A., 70, 1973, 3240-4.
Colson, G. and W.E. Huffman. “A Method for Assessing Consumers' Willingness to Pay for New Product-Enhanced Attributes: Evidence from Experimental Auctions.” Iowa State University, Department of Economics, Sept. 2009.
Council for Biotechnology Information. “Frequently Asked Questions.” <http://www.whybiotech.com/en/faq/default.asp?MID=10>. Retrieved October 2001.
Friends of the Earth. “Environmental Hazards of Genetically Engineered Plants.” <http://www.foe.org/camps/comm/safefood/gefood/factsheets/envirohazfacts.html>. May 2003.
Greenpeace International. “We Want Natural Food!” <http://www.greenpeace.org/~geneng/>. March 2001a.
Greenpeace International. “Say No to Genetic Engineering.” <http://www.greenpeace.org/international/campaigns/genetic-engineering>. June 2006.
Greenpeace International. “7. Public Concern.” <http://www.greenpeace.org/%7 Egeneng/reports/food/intrfo07.htm>. March 2001b.