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More Than You Wanted to KnowThe Failure of Mandated Disclosure$
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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

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Conclusion: Beyond Disclosurism

Conclusion: Beyond Disclosurism

(p.183) Chapter 12 Conclusion: Beyond Disclosurism
More Than You Wanted to Know

Omri Ben-Shahar

Carl E. Schneider

Princeton University Press

This concluding chapter clarifies that the book has argued that lawmakers must abandon the use of mandated disclosure, describing it as a failed regulatory method. The book has presented evidence showing that disclosures routinely fail to achieve their purposes. If mandated disclosure is a failure, if it cannot be fixed, and if it can do harm, it should be presumptively barred. This chapter discusses some sources of helpful information that can succeed without mandates, with particular emphasis on three kinds of intermediaries: consultants, aggregators, and savvy consumers/readers—can all succeed without mandated disclosure. It also imagines a world without the panacea of mandated disclosure, comparing the role of defaults and opt outs in a panacea world. It argues that in the real world, default plans are just more disclosurism.

Keywords:   lawmakers, mandated disclosure, intermediaries, consultants, aggregators, consumers, readers, defaults, opt out, disclosurism

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