More Than You Wanted to Know

More Than You Wanted to Know

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Perhaps no kind of regulation is more common or less useful than mandated disclosurea€”requiring one party to a transaction to give the other information. It is the iTunes terms you assent to, the doctor's consent form you sign, the pile of papers you get with your mortgage. Reading the terms, the form, and the papers is supposed to equip you to choose your purchase, your treatment, and your loan well. More Than You Wanted to Know surveys the evidence and finds that mandated disclosure rarely works. But how could it? Who reads these disclosures? Who understands them? Who uses them to make better choices? Omri Ben-Shahar and Carl Schneider put the regulatory problem in human terms. Most people find disclosures complex, obscure, and dull. Most people make choices by stripping information away, not layering it on. Most people find they can safely ignore most disclosures and that they lack the literacy to analyze them anyway. And so many disclosures are mandated that nobody could heed them all. Nor can all this be changed by simpler forms in plainer English, since complex things cannot be made simple by better writing. Furthermore, disclosure is a lawmakers' panacea, so they keep issuing new mandates and expanding old ones, often instead of taking on the hard work of writing regulations with bite. Timely and provocative, More Than You Wanted to Know takes on the form of regulation we encounter daily and asks why we must encounter it at all.One solution is to replace iTunes scrolls and California bed sheets with simple pacts: a€œI will buy the bike for $120.a€14 But even in ... True, these village contracts could be briefly stateda€”the good (the bike), the price ($120), and the consent (I will buy). ... Would you rather know that the keys in your pocket will scratch your iPhonea#39;s screen or that contract disputes are resolved in California courts? We alsoanbsp;...

Title:More Than You Wanted to Know
Author:Omri Ben-Shahar, Carl E. Schneider
Publisher:Princeton University Press - 2014-04-20


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