1. Is "fairness" the economic basis for government laws and regulations designed to remedy market failures? If so why? if not, what is the economic basis?

1. A well-known conglomerate that manufactures a multitude of noncompeting consumer products instituted a corporatewide initiative to encourage the managers of its many divisions to share consumer demographic information. However, since the initiative was implemented, the Chief Executive Officer has noticed that less information is available than ever. Why do you think the CEO's plan was backfired?
2. Explain, using precise economic terminology, the economic rationale for laws against insider trading.