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.
| Language | English |
|---|---|
| Pages | 719-725 |
| Number of pages | 7 |
| Journal | Public Relations Review |
| Volume | 41 |
| Issue number | 5 |
| DOIs | |
| Publication status | Published - 1 Dec 2015 |
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What is public relations to society? Toward an economically informed understanding of public relations. / Halff, Gregor; Gregory, Anne.
In: Public Relations Review, Vol. 41, No. 5, 01.12.2015, p. 719-725.Research output: Contribution to journal › Article
TY - JOUR
T1 - What is public relations to society? Toward an economically informed understanding of public relations
AU - Halff, Gregor
AU - Gregory, Anne
PY - 2015/12/1
Y1 - 2015/12/1
N2 - 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.
AB - 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.
KW - Economic theory
KW - Information asymmetry
KW - Public relations
KW - Society
UR - http://www.scopus.com/inward/record.url?scp=84931840843&partnerID=8YFLogxK
U2 - 10.1016/j.pubrev.2015.06.007
DO - 10.1016/j.pubrev.2015.06.007
M3 - Article
VL - 41
SP - 719
EP - 725
JO - Public Relations Review
T2 - Public Relations Review
JF - Public Relations Review
SN - 0363-8111
IS - 5
ER -