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Social Welfare Effects of Transparency and Misinformation in a Political Economy

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  • Bullock, David S.
  • Mittenzwei, Klaus
  • Josling, Timothy E.

Abstract

We present a game-theoretical model arguing that greater public transparency does not necessarily lead to higher social welfare. Political agents can benefit from providing citizens with misleading information aimed at aligning citizens’ choices with the political agents’ preferences. Citizens can lose from being fooled by political agents, though they can mitigate their losses by conducting costly inspections to detect false information. Producing and detecting false information is costly and can reduce social welfare.

Suggested Citation

  • Bullock, David S. & Mittenzwei, Klaus & Josling, Timothy E., 2019. "Social Welfare Effects of Transparency and Misinformation in a Political Economy," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 51(3), pages 485-494, August.
    • Handle: RePEc:cup:jagaec:v:51:y:2019:i:03:p:485-494_00
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    Cited by:

    1. Katja Pietrzyck & Nora Berke & Vanessa Wendel & Julia Steinhoff-Wagner & Sebastian Jarzębowski & Brigitte Petersen, 2021. "Understanding the Importance of International Quality Standards Regarding Global Trade in Food and Agricultural Products: Analysis of the German Media," Agriculture, MDPI, vol. 11(4), pages 1-20, April.
    2. Kelvin Balcombe & Dylan Bradley & Iain Fraser, 2021. "Do Consumers Really Care? An Economic Analysis of Consumer Attitudes Towards Food Produced Using Prohibited Production Methods," Journal of Agricultural Economics, Wiley Blackwell, vol. 72(2), pages 452-469, June.

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