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Disclosure Ratcheting
Consumers today face an overwhelming amount of information when buying products or services, which can make it extremely difficult for them to make rational decisions. Companies can use consumers' biases to manipulate them into giving up personal information more easily. For example, consumers are more likely to choose not to opt out of data collection than they are to choose to opt in. Corporations can use data to determine groups of consumers that are susceptible to certain biases, and use that information to design highly effective marketing tactics. Additionally, since this information on consumer biases is so valuable, corporations can sell it to the highest bidder.
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Updated 2021-08-30
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Social Science
Empirical Science
Science