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Oren Bar-Gill, Defending (Smart) Disclosure: A Comment on “More Than You Wanted to Know", 11 Jerusalem Rev. Legal Stud. (2015).

Abstract: Ben-Shahar and Schneider have written an important book: "More Than You Wanted to Know." They develop a powerful critique of a prevalent regulatory technique: Mandatory Disclosure. They argue that disclosure does not work and that it cannot be fixed. Lawmakers should, therefore, abandon this ineffective and, possibly, harmful regulatory approach and look elsewhere or … do nothing. While I agree with almost everything they write, when the authors discuss, and critique, “scores” toward the end of Chapter 8, I must respectfully disagree. This article focuses on scores, presenting their benefits and costs and, as examples, focusing specifically on three types. I also seek common ground between my position and that of the authors, and conclude by venturing beyond scores to discuss the promise of full disclosure targeted at intermediaries, rather than consumers.