Monday, July 14, 2003

Article: Information Failure

This editorial from CSM discusses labelling and the information failure facing consumers trying to accurately pursue their market objectives. This is another of our frequent topics, and the author raises a lot of good questions in the beginning of the article, many of which I don't think are adequately answered by the author's proposed labelling regime. Other possible solutions we've discussed before are pushing the decision process out of the marketplace to a situation where the consumer can more completely access and study the relevant details, or installing some certification process. The practical limitations on consumers' abililty to be properly informed about the vast number of every-day choices they make is a crucial behavioural problem.

Also on CSM today, this article, indicating that the end is near. I've always said, if a person wanted to be really wealthy they'd start marketing a consumer version of the M1A1 Abrams tank. That statement apparently is not as satirical as I'd hoped it would be...

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