Better informed consumers are less likely to be disappointed, and more forgiving if they are.
Further, as Mullinathan points out numerous times, even fully informed consumers sometimes make decisions they regret later.
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Informed consumers, after all, are a central ingredient of a successful free market.
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But guarding against abuse also requires vigorous competition, informed consumers and vigilant monitoring.
Ill-informed consumers, he maintains, focus on the immediate financing costs of mortgages even though the debt will typically last for decades.
Informed consumers are now showing up at dealerships with spreadsheets detailing what options they want and what they are willing to pay.
The Department of Labor fee disclosure rules that went into effect last year were intended to shed light on just how much 401(k) participants are paying in fees, to make for more informed consumers.
Although the sentiment of a command and control world remains relevant today, the biggest change since then has been the democratization of information via the internet coupled with the adoption of social and mobile technologies leading to tech-savvy and better informed consumers (and citizens).
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But most people are not informed enough consumers to make choices.
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"The financial crisis started with the subprime debacle in the United States where mortgages were being handed out with no background checks carried out on whether consumers could afford them, and ill-informed and often vulnerable consumers were encouraged to take excessive risk, " said EU Internal Market Commissioner Michel Barnier.
Dyle mobile TV keeps consumers informed and entertained while on the go and allows them to watch local and national sports, news and entertainment broadcast programming on their mobile phones.
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"We have a more informed class of college consumers, " said Bonnie Snyder, founder of Kerrigan College Planning in Lancaster, Pa.
It aims to help consumers make informed choices when choosing new services.
Each year, the publication asks experts to rank more than 25 diet plans to help consumers make informed decisions about nutrition.
Proposition 37 would leave consumers worse informed that they are now.
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"Kellogg joined many others in the industry in investing in the development of the Smart Choices program to help consumers make informed food choices, " said spokeswoman Kris Charles.
It has everything to do with the absence of demanding and aware shareholders and consumers, informed by a questioning media, free of trade barriers and safeguarded by honest courts.
And with billions and billions served helpings of the lardaceous potato strips, it's a sticky moment for James Skinner's Golden Arches, which last October boasted of its initiative to print nutritional data on its packages to help consumers make informed choices about what to eat.
Calorie count information should help these consumers make more informed, and therefore better, decisions.
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"What consumers want is clear labelling, so that consumers can make informed choices on their food purchases, " he said.
On the issue of health care, the automakers expressed support for government initiatives to improve quality and transparency so consumers can make informed health care choices.
Spanish centre-right MEP Pilar Ayuso said it was a question of choice, arguing that consumers should be informed about the origin of the food, even if there were no safety issues.
We are exceeding current regulatory requirements on labeling and disclosure because we believe consumers should be informed on the amount of caffeine they are consuming in their food and beverage products so they can make smart choices.
But perhaps most important is a move Coca-Cola has already made: the decision to add the calorie counts to the front of their bottles and cans, to make it even easier for consumers to make informed decisions.
Technologists charged with parsing this information can create valuable opportunities for businesses and consumers to make more informed choices.
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Everybody who supports a free market should want consumers to be well informed, able to compare, able to make choices.
Despite the addictiveness of nicotine, the prevalence of smoking has plunged as consumers have become better informed about its risks.
Labelling is also essential if consumers are to make informed choices.
We simply want to provide a platform that empowers consumers to make well-informed purchasing decisions.
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In a free society, this is how consumers gather information and make informed decisions about what products to purchase.
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