Jump to ContentJump to Main Navigation
More Than You Wanted to KnowThe Failure of Mandated Disclosure$
Users without a subscription are not able to see the full content.

Omri Ben-Shahar and Carl E. Schneider

Print publication date: 2014

Print ISBN-13: 9780691161709

Published to Princeton Scholarship Online: October 2017

DOI: 10.23943/princeton/9780691161709.001.0001

Show Summary Details
Page of

PRINTED FROM PRINCETON SCHOLARSHIP ONLINE (www.princeton.universitypressscholarship.com). (c) Copyright Princeton University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in PRSO for personal use.date: 15 June 2021

From Disclosure to Decision

From Disclosure to Decision

Chapter:
(p.107) Chapter 7 From Disclosure to Decision
Source:
More Than You Wanted to Know
Author(s):

Omri Ben-Shahar

Carl E. Schneider

Publisher:
Princeton University Press
DOI:10.23943/princeton/9780691161709.003.0007

This chapter argues that even if the (essentially) cognitive problems with information could be overcome—even if disclosees were offered, accepted, understood, and remembered disclosures—people might not make better decisions. First, much of the information disclosed is not needed and cannot improve decisions. Rational people make many decisions without the guidance that mandated disclosures offer. Evidence shows that people's choices systematically diverge from rationality. This includes ways that people interpret, reinterpret, and misinterpret information. Decisions are shaped by how information is framed, with implications for informed consent. Another problem is the one explored by the literature in social psychology and behavioral economics—that the human mind distorts information and reasoning. The chapter suggests that nobody can write mandates that account for the many unexpected ways people read disclosures.

Keywords:   decisions, mandated disclosure, rationality, informed consent, social psychology, behavioral economics, information, reasoning

Princeton Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us.