RobinHanson comments on Mandating Information Disclosure vs. Banning Deceptive Contract Terms - Less Wrong

21 Post author: David_J_Balan 20 December 2009 08:55PM

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Comment author: David_J_Balan 21 December 2009 09:18:42PM 2 points [-]

But ignorance in rational agent models of asymmetric information don't cause people to be tricked, so it's can't be ignorance of that sort.

It seems perfectly plausible to me that people understand that the deck is stacked against them, while at the same time not knowing exactly how to protect themselves and so falling for some of the tricks, and would be perfectly happy to have a government they trusted simply remove the bad stuff from the menu. I know that's how I see it.

Comment author: RobinHanson 22 December 2009 08:00:25PM 0 points [-]

David, that situation is well modeled as ignorance. So either there are models of ignorance supporting your case, or you need to describe a different situation.

Comment author: David_J_Balan 22 December 2009 09:37:21PM 1 point [-]

I think clarifying this disagreement is worth a seperate post, which I'll write up in the next few days.