OSTP: “Today, the Administration’s interagency National Science and Technology Council released Smart Disclosure and Consumer Decision Making: Report of the Task Force on Smart Disclosure—the first comprehensive description of the Federal Government’s efforts to promote the smart disclosure of information that can help consumers make wise decisions in the marketplace.
Whether they are searching for colleges, health insurance, credit cards, airline flights, or energy providers, consumers can find it difficult to identify the specific product or service that best suits their particular needs. In some cases, the effort required to sift through all of the available information is so large that consumers make decisions using inadequate information. As a result, they may overpay, miss out on a product that would better meet their needs, or be surprised by fees.
The report released today outlines ways in which Federal agencies and other governmental and non-governmental organizations can use—and in many cases are already using—smart disclosure approaches that increase market transparency and empower consumers facing complex choices in domains such as health, education, energy and personal finance.”
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