Reflections on Consumer Sophistication and Its Impact on Ethical Business Practice
Authors:
- 1 June 1996
- journal article
- Published by Wiley in Journal of Consumer Affairs
- Vol. 30 (1) , 170-194
Abstract
This paper investigates consumer sophistication and its role in the development of proactive public policy. Consumer sophistication is examined in light of several historical shifts in market structure and consumer lifestyles. These shifts create market conditions that foster the emergence of a “Corporate Dilemma” in which unsophisticated consumers reward unethical business practices and punish ethical business behavior. To reduce unethical business practices in the market, this paper proposes that the optimum level of interim government intervention should be based on the level of consumer sophistication in the market.Keywords
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