The Political Economy of Truth‐in‐Advertising Regulation during the Progressive Era
研究了进步时代广告真实性监管的起源与效果，检验了两种假说：监管是寻租工具还是提升广告可信度的机制，证据支持后者。
This paper explores the origins and effects of truth‐in‐advertising regulation during the Progressive Era. Was advertising regulation adopted in response to rent seeking on the part of firms that sought to limit the availability of advertising as a competitive device, or was advertising regulation desired because it furnished a mechanism through which firms could improve the credibility of advertising? We find the available evidence to be more consistent with the latter hypothesis.