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Mandatory information disclosure can allow consumers to learn the attributes of products and to prevent the sellers from overstating their quality (consumer learning effect).However, such regulation can also allow sellers to observe their competitors attributes.In the presence of peer effects, when the sellers learn from the information disclosure that they were overstating relatively less than the others, they can increase overstatement (seller learning effect).Using the data from mandatory information disclosure of the antibiotic prescription rates in Korea, this paper shows that the while average antibiotic prescription rates have decreased after the information disclosure, still more than 30% of the clinics have increased the antibiotic prescriptions.Moreover, if clinics were prescribing antibiotics less than the local average before the information disclosure, they are more likely to increase the antibiotic prescription.These results are consistent with the seller learning effect in the presence of peer effects.