Publication Type
Journal Article
Version
acceptedVersion
Publication Date
6-2015
Abstract
The notion of public relations contributing to the fabric of society is heavily contested in the public sphere and under-researched by the academy. The authors of this paper propose that the study of the relevance of public relations to society can be enlightened by turning to economics. Using information asymmetry as a framework, the argument is that public relations can be analyzed as a social institution that both helps to mitigate market imperfections and consequently increases the efficiency with which society’s resources are allocated as well as the chances for more market participants to derive value out of economic transactions.
Keywords
Public relations, Society, Economic theory, Information asymmetry
Discipline
Business | Business and Corporate Communications
Research Areas
Corporate Communication
Publication
Public Relations Review
Volume
41
Issue
5
First Page
719
Last Page
725
ISSN
0363-8111
Identifier
10.1016/j.pubrev.2015.06.007
Citation
HALFF, Jurrien Gregor and GREGORY, Anne.
What is public relations to society? Toward an economically informed understanding of public relations. (2015). Public Relations Review. 41, (5), 719-725.
Available at: https://ink.library.smu.edu.sg/lkcsb_research/4205
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
https://doi.org/10.1016/j.pubrev.2015.06.007