Abstract
In recent years consumers show rising interest in safety, nutritional and process characteristics of food products. This has lead to increased demand for higher quality foods and the need for more information. The market is not always capable of providing consumers with proper information in order to identify the attributes of a specific product and check whether it meets their specific needs. Problems of asymmetric or incomplete information can occur where important product attributes are experience and credence. With respect to these characteristics, given the impossibility for consumers to observe and check these attributes, manufacturers’ trend to have moral hazard- based behaviours triggers adverse selection mechanisms. Particularly, false labelling and counterfeiting involve food products and this constitutes a real danger to consumers.
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