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| Author: | Pearce, R. |
| Title: | Social responsibility in the marketplace: asymmetric information in food labelling |
| Journal: | Business Ethics
1999 : JAN, VOL. 8:1, p. 26-36 |
| Index terms: | BUSINESS ETHICS SOCIAL RESPONSIBILITY ASYMMETRIC INFORMATION FOOD INDUSTRY CONSUMERS |
| Language: | eng |
| Abstract: | This study looks at how the construction of information on food labels represents an example of asymmetric information which has adverse effects on consumer welfare. In the case of food market management involves the creation of a compelling image of the product in the mind of the consumer to which he responds less or more automatically under purchases circumstances where the purchase does not merit a great deal of thought. Branding offers to remove the need to scrutinize lists of ingredients and nutritional data. An alternative way of improving market functioning would be by means of reducing informational asymmetries. |
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