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Regulatory strategies and instruments: How?

3

this technique falls into two traditional and two innovative

 categories:

mandatory disclosure

 prohibition of false / misleading information

 voluntary disclosure

 exhortation

Regulatory strategies and instruments: How?

4

justifications:

 information deficits - mandatory disclosure regulation can

 generate

direct welfare gains for consumers in case of inadequate information of

(1) goods and services

indirect welfare gains by increasing competition in markets

(2)

advantages: choice is preserved; cost – benefits analysis is carried

 out by the individual

disclosure doesn‟t produce advantages where the relevant

information cannot be communicated in an easily assimilable

form (Ogus)

Regulatory strategies and instruments: How?

5

mandatory disclosure

 Information on prices (“price transparency”) : price disclosure may

 reduce the search costs through comparison with a standardized unit

credit transactions : information in a standardized form would

 enable creditors to compare the terms offered by different banks

weights and measures - disclosing quantity is an obvious market

 incentive – but traders may be tempted to gain advantages by

providing misleading information

quality – disclosure of the composition or ingredients of a product

 may reduce the information costs

Regulatory strategies and instruments: How?

6

control on misleading information

 related to the general area of consumer protection includes the

 control of advertising (in Italy the authority responsible for controls

on misleading and comparative advertising is AGCM )

voluntary disclosure regimes

 producers face powerful incentives voluntarily to disclose

 information concerning production processes /product quality

rising consumers‟ awareness of the ethical implications of certain

 production processes accompanied by voluntary certification systems

(“ethical branding”)

public information campaigns – “exhortation”

 Public engagement in communications management influencing

 social behaviours through public information campaigns “naming

and faming/shaming” – public communication management


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AUTORE

Atreyu

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DETTAGLI
Corso di laurea: Corso di laurea magistrale in economics and political science
SSD:
Università: Milano - Unimi
A.A.: 2011-2012

I contenuti di questa pagina costituiscono rielaborazioni personali del Publisher Atreyu di informazioni apprese con la frequenza delle lezioni di Theories of Regulation e studio autonomo di eventuali libri di riferimento in preparazione dell'esame finale o della tesi. Non devono intendersi come materiale ufficiale dell'università Milano - Unimi o del prof Ammannati Laura.

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