Seduction by Contract
Law, Economics, and Psychology in Consumer Markets
1st Edition
Published on 23. August 2012
297 pages
978-0-19-164038-4 (ISBN)
Description
Seduction by Contract explains how consumer contracts emerge from market forces and consumer psychology. Consumers' predictable mistakes - they are short-sighted, optimistic, and imperfectly rational - compel sellers to compete by hiding the true costs of products in complex, misleading contracts. Only better law can overcome the market's failure.
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08/2012
Oxford University Press
€109.80
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Content
- Cover
- Contents
- List of Figures and Tables
- Abbreviations
- Introduction
- 1. The Law, Economics, and Psychology of Consumer Contracts
- Introduction
- I. The Behavioral Economics of Consumer Contracts
- II. Welfare Implications
- III. Market Solutions and Their Limits
- IV. Policy Implications: Disclosure Regulation
- Conclusion
- Appendix
- 2. Credit Cards
- Introduction
- I. The Credit Card Market
- II. The Credit Card Contract
- III. Rational-Choice Theories and Their Limits
- IV. A Behavioral-Economics Theory
- V. Welfare Implications
- VI. Market Solutions
- VII. Policy Implications: Rethinking Disclosure
- Conclusion
- Appendix: Teaser Rates
- 3. Mortgages
- Introduction
- I. The Subprime Mortgage Market
- II. The Subprime Mortgage Contract
- III. Rational-Choice Theories and Their Limits
- IV. A Behavioral-Economics Theory
- V. Welfare Implications
- VI. Policy Implications
- Conclusion
- 4. Cell Phones
- Introduction
- I. The Cell Phone and the Cellular Service Market
- II. The Cellular Service Contract
- III. Explaining the Cellular Service Contract
- IV. Welfare Implications
- V. Market Solutions
- VI. Policy Implications
- Conclusion
- Conclusion
- Bibliography
- Index
- A
- B
- C
- D
- E
- F
- G
- H
- I
- K
- L
- M
- N
- O
- P
- R
- S
- T
- U
- V
- W
- Z
