Publication Type

Journal Article

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. (C) 2015 Elsevier Inc. All rights reserved.

Keywords

Public relations, Society, Economic theory, Information asymmetry

Discipline

Business and Corporate Communications | Organizational Communication

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

Publisher

Elsevier

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.

Additional URL

http://doi.org/10.1016/j.pubrev.2015.06.007

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