Can I read Seduction by Contract : Law, Economics, and Psychology in Consumer Markets on EtoBox?

Seduction by Contract : Law, Economics, and Psychology in Consumer Markets by Oren Bar-Gill is a nonfiction available to read on EtoBox.

What is Seduction by Contract : Law, Economics, and Psychology in Consumer Markets about?

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 low introductory prices so common? Why are the contracts themselves so complex, with numerous fees and interest rates, tariffs and penalties? Seduction by Contract explains how consumer contracts emerge from the interaction between market forces and consumer psychology. Consumers are short-sighted and optimistic, so sellers compete to offer short-term benefits, while imposing long-term costs. Consumers are imperfectly rational, so sellers hide the true costs of products and services in complex contracts. Consumers are seduced by contracts that increase perceived benefits, without actually providing more benefits, and decrease perceived costs, without actually reducing the costs that consumers ultimately bear

Who reads Seduction by Contract : Law, Economics, and Psychology in Consumer Markets?

Author

Oren Bar-Gill

Publisher

Oxford University Press, USA

Published

2012

Language

EN

ISBN

9780191640377

Category

nonfiction

Subjects

Economics, Law, Business