An Economic Theory of Disinformation

The impacts of misinformation and disinformation have rarely been studied in economics. In this paper, I examine these using a model constructed on the basis concept ranked information. value information is changeable differs across people; therefore, can be used as tool to manipulate people’s behaviors. first define then show mechanism through which decreases efficiency by manipulating Decreases are observed total factor productivity, lowered success rates investment, increased costs bad speculations. addition, generates economic rents and, result, increases inequality, possibly great deal. Furthermore, cause large-scale fluctuations.