Markets run on information. Buyers make decisions by relying on their knowledge of the products available, and sellers decide what to produce based on their understanding of what buyers want. But the distribution of market information has changed, as consumers increasingly turn to sources that act as intermediaries for information—companies like Yelp and Google. Antitrust Law in the New Economy considers a wide range of problems that arise around one aspect of information in the marketplace: its quality.

Sellers now have the ability and motivation to distort the truth about their products when they make data available to intermediaries. And intermediaries, in turn, have their own incentives to skew the facts they provide to buyers, both to benefit advertisers and to gain advantages over their competition. Consumer protection law is poorly suited for these problems in the information economy. Antitrust law, designed to regulate powerful firms and prevent collusion among producers, is a better choice. But the current application of antitrust law pays little attention to information quality.

Mark Patterson discusses a range of ways in which data can be manipulated for competitive advantage and exploitation of consumers (as happened in the LIBOR scandal), and he considers novel issues like “confusopoly” and sellers’ use of consumers’ personal information in direct selling. Antitrust law can and should be adapted for the information economy, Patterson argues, and he shows how courts can apply antitrust to address today’s problems.

Lies and inaccurate information are as old as humanity, but never before have they been so easy to spread. Each moment of every day, the Internet and broadcast media purvey misinformation, either deliberately or accidentally, to a mass audience on subjects ranging from politics to consumer goods to science and medicine, among many others. Because misinformation now has the potential to affect behavior on a massive scale, it is urgently important to understand how it works and what can be done to mitigate its harmful effects.

Misinformation and Mass Audiences brings together evidence and ideas from communication research, public health, psychology, political science, environmental studies, and information science to investigate what constitutes misinformation, how it spreads, and how best to counter it. The expert contributors cover such topics as whether and to what extent audiences consciously notice misinformation, the possibilities for audience deception, the ethics of satire in journalism and public affairs programming, the diffusion of rumors, the role of Internet search behavior, and the evolving efforts to counteract misinformation, such as fact-checking programs. The first comprehensive social science volume exploring the prevalence and consequences of, and remedies for, misinformation as a mass communication phenomenon, Misinformation and Mass Audiences will be a crucial resource for students and faculty researching misinformation, policymakers grappling with questions of regulation and prevention, and anyone concerned about this troubling, yet perhaps unavoidable, dimension of current media systems.