Font Size: a A A

On The Consumers' Right To Be Informed And The Asymmetrical Information

Posted on:2006-08-03Degree:MasterType:Thesis
Country:ChinaCandidate:X L DongFull Text:PDF
GTID:2166360182466263Subject:Economic Law
Abstract/Summary:PDF Full Text Request
There are certain rules in the economic activity. If they are ignored, the valid order can't be set up even the peremptory system exist. The market benefits only when the spontaneous order is given legal guide according to the order's disadvantage. And the premise is the order is found out and developed.Information is an old topic. To some extent, the spread of the information is a tool for the forming of the society. Nowadays information is more and more becoming a valuable resource. As a group, the consumer came to appear inevitably when the dividing of social work was increasing. And the group was marked disadvantaged from the beginning. The prime reason lies in the asymmetrical information between the consumers and the proprietors.There are legal rules for the consumer's right of being informed, but they 're just brief. Academically composition didn't write much about this kind of right. There is almost no technicality writing in the scope. Some scholars wrote this right in the area of consumer's right, but no one has gone deep into the thesis such as the reason of the consumer's right of being informed, the relation between the spread of information and this kind of right, and so on.The article tried to probe into the consumer's right to be informed. This right is known to all and protected by the law, but it is always aggrieved in the real-life and the remedy is not satisfied. There are profundity social and economical reasons for that right. Because of the developing of the times, the methods of changing information is various in the social member. The exchange of consumer is influenced greatly by the market environment and social construction. Order came into being in the market participants' activities, and commercial credit maintains the exchange. The spontaneous order in the economical activities can be of some help, but not totally, to solve the problem of asymmetrical information. The formation of the informal rules such as commercial moral and conventions doesn't obliged by law, but evolves by nature. Though more and more regard was paid to the protection of the consumers, for consumers the risk of consuming is still inevitable exists because of the complex factors such as information asymmetry, thinking method of the rational man and the un- ethic of the market. As a kind of forcible restriction, law is not omnipotence, but itcan help to make up the market's limitation and create a more appropriate environment for the market. To confine the asymmetry of information in an acceptable scope, we should pay regard to the market rule, using the law appropriately and harmonizing the regulations in pursuit of justice and efficiency.Synchronously, the article innovates to use the knowledge of law, economic and sociology synthetically. The game theory is used to discuss the reason, the developing of the asymmetrical information and each participator's countermeasure in the market during the exchange of consumption. In that process, the article tries to find out some formal measures that can be in existence as legal regulations.
Keywords/Search Tags:Asymmetrical Information, The Consumer's Right to be Informed, The Obligation of Informing
PDF Full Text Request
Related items