The information asymmetries and consumer policy issues in Bulgaria

Nikolov, Bogomil and Vasileva, Elka and Ivanova, Daniela (2011): The information asymmetries and consumer policy issues in Bulgaria. Published in: International Symposium “Consumer Information – Market Regulation by Means of Transparency? , Vol. 7, No. Proceeding of Symposium, Potsdam, Germany (May 2011): pp. 122-128.

Abstract

An identification and analysis of practices for providing consumer information in Bulgaria and their potential to disclose information about products to consumers are presented. Third party certification, labelling and comparative testing of products has been proven to effectively contribute for development of an efficient market by diminishing asymmetry of information. Discussion focuses on the alternative practices for submitting information and consideration of their accessibility and independence. The disclosure of information to consumers by the websites for comparison of products prices, collective shopping and consumer assistance is explored. Conclusions are drawn regarding their potential role in future shifts towards efficient consumer information practices in Bulgaria.

• Item Type: MPRA Paper
• Language: English
• Keywords: information for consumers; information asymmetry; third parties quality labelling certification; comparatives tools; Bulgaria
• Subjects: L - Industrial Organization > L1 - Market Structure, Firm Strategy, and Market Performance > L15 - Information and Product Quality ; Standardization and Compatibility; Z - Other Special Topics > Z1 - Cultural Economics ; Economic Sociology ; Economic Anthropology > Z18 - Public Policy

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