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Scholars studying the causes of obesity have long noted the tendency for people to underestimate the calories in restaurant meals. According to economic theory, such imperfect information represents a market failure that could lead to suboptimal choices, opening the door for government interventions that rectify the information gap to be welfare-improving. Starting with New York City in 2006, several states and localities passed laws requiring chain restaurants to post calories on menus and menu boards. This flurry of activity culminated in the inclusion of a national calorie labeling provision in the Affordable Care Act, though its implementation was delayed until 2018.
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