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| Teratanavat, Ratapol P.; Hooker, Neal H.; Haugtvedt, Curtis P.; Rucker, Derek D.. |
| In recent years, the numbers of functional foods being developed and subjected to scientific evaluation have increased substantially. The main characteristic of functional foods that distinguishes them from conventional foods is the potential health benefit, which can be considered to be a credence attribute of product quality. Because this characteristic cannot be easily assessed even after consumption, an asymmetric information environment for health benefits has emerged where producers have more information than consumers. Thus the government intervenes by regulating the provision of health information on product labels in order to avoid potential market failures. The Food and Drug Administration (FDA) recently amended the way health claims on labels of... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Health Economics and Policy. |
| Ano: 2004 |
URL: http://purl.umn.edu/20413 |
