Seduction by contract : law, economics, and psychology in consumer markets / Oren Bar-Gill.

Format:

Book

Author/Creator:

Bar-Gill, Oren, author.

Language:

English

Subjects (All):

Consumer contracts.

Consumer protection--Law and legislation.

Consumer protection.

Physical Description:

1 online resource (558 p.)

Edition:

1st ed.

Place of Publication:

Oxford, England : Oxford University Press, [2012]

Language Note:

English

Summary:

Consumers routinely enter into long-term contracts with providers of goods and services - from credit cards, mortgages, cell phones, insurance, TV, and internet services to household appliances, theatre and sports events, health clubs, magazine subscriptions, transportation, and more. Across these consumer markets certain design features of contracts are recurrent, and puzzling. Why do sellers design contracts to provide short-term benefits and impose long-term costs? Why are lowintroductory prices so common? Why are the contracts themselves so complex, with numerous fees and interest rates, t

Contents:

Cover Page; Title Page; Copyright Page; Dedication; Acknowledgements; 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 SolutionsVII. 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

ConclusionBibliography; Index; Footnotes; ch01fn; ch02fn; ch03fn; ch04fn

Notes:

Description based upon print version of record.

Includes bibliographical references (pages 251-267) and index.

Description based on print version record.

Description based on publisher supplied metadata and other sources.

ISBN:

0-19-175166-9

1-283-65812-7

0-19-164037-9

0-19-164038-7

OCLC:

815390131