Megan's Law requires public dissemination of information from sex offender registries. Opponents to this controversial law have questioned whether households misinterpret or even use this information. One concern was that the information might simply induce a "fear of crime." This study finds...

The hedonic method is widely used to infer the value of environmental amenities that are bundled with real property. The interpretation of hedonic prices as marginal values requires that households are "fully informed." Yet, there is evidence that buyers are often less informed than sellers. A...

Revealed preference methods like the hedonic model generally assume economic agents have access to publicly available information and use it effectively. In the housing market, the recent proliferation of seller disclosure laws suggests that policymakers perceive buyers to be less than "fully...