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Manufacturers provide dating to help consumers and retailers decide when food is of best quality.
Download this podcast SARAH GREEN: Welcome to the HBR Idea Cast. I’m talking today with Paul Oyer, Professor of Economics at Stanford’s Graduate School of Business. SARAH GREEN: So Paul, I’d like to just kick off by talking a little bit about the economic concept of search costs.
“Closed Dating” is a code that consists of a series of letters and/or numbers applied by manufacturers to identify the date and time of production. Except for infant formula, product dating is not required by Federal regulations.
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