The value and role of food labels : three essays examining information flows in the food system for experience and credence attributes
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This dissertation investigates the role of food labels as means of conveying information about food product characteristics, with particular attention to experience and credence attributes. Unobserved product characteristics such as taste, food safety, nutrition, or quality are inherently difficult to quantify but are frequent determinants of demand. Since not all these characteristics are measurable (e.g., food safety) or directly observable (e.g., nutrition), there exists information asymmetry in the market between firms and consumers. Product labeling is a way for information that is initially ...