Fordham Law School Professor Aditi Bagchi provided her thoughts on Omri Ben-Shahar and Carl Schneider’s book, More Than You Needed to Know: The Failure of Mandated Disclosure, to the ContractsProf Blog.
Omri Ben-Shahar and Carl Schneider make a persuasive case that mandatory disclosure is no panacea for complex decisions. We do not use much of the information we are given, nor would we make objectively superior decisions were we to try. Since disclosure is expensive, though not for the state that requires it, we should not take on its costs with exaggerated expectation of benefit. Some regulatory effort should be redirected to other methods, including mandatory regulation of conduct.
Read the entire article here.