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Seduction by Contract: Law, Economics, and Psychology in Consumer Markets de Oren Bar-Gill

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

Autor Oren Bar-Gill
en Limba Engleză Paperback – 17 oct 2013

Urgența volumului Seduction by Contract derivă dintr-o realitate pe care majoritatea reglementărilor actuale o ignoră: în piețele de consum moderne, competiția nu protejează clientul, ci obligă companiile să îi exploateze slăbiciunile cognitive. Notăm cu interes cum Oren Bar-Gill demonstrează că un vânzător onest, care ar oferi un contract transparent, ar fi rapid eliminat de pe piață de către un concurent care speculează optimismul și miopia cumpărătorului. Într-o eră a abonamentelor complexe și a costurilor ascunse, această lucrare devine un instrument critic pentru înțelegerea mecanismelor de „seducție” contractuală.

Apreciem rigoarea cu care autorul analizează piețele cardurilor de credit, ale creditelor ipotecare și ale serviciilor de telefonie mobilă, arătând de ce prețurile introductive mici și penalitățile pe termen lung sunt trăsături de design sistemice, nu accidentale. Ca și Ran Spiegler în Bounded Rationality and Industrial Organization, autorul distilează experiența reală în principii acționabile, contestând modelul consumatorului perfect rațional. Totuși, spre deosebire de alte abordări pur teoretice, Oren Bar-Gill oferă o soluție pragmatică prin mandatele de divulgare (disclosure), menite să expună natura seductivă a contractelor înainte ca prejudiciul să fie produs.

Poziționăm această lucrare ca o evoluție necesară față de temele explorate în Algorithmic Harm. Dacă în scrierile sale despre inteligența artificială autorul analiza riscul tehnologic, aici el coboară în psihologia fundamentală a tranzacției. Este o lectură esențială pentru a înțelege de ce transparența totală este singura cale de a restabili echilibrul într-o piață unde complexitatea a devenit o armă împotriva eficienței.

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Specificații

ISBN-13: 9780199663378
ISBN-10: 0199663378
Pagini: 2989
Dimensiuni: 156 x 234 x 17 mm
Greutate: 0.44 kg
Editura: OUP OXFORD
Colecția OUP Oxford
Locul publicării:Oxford, United Kingdom

De ce să citești această carte

Această carte este indispensabilă specialiștilor în drept comercial, economiștilor și reglementatorilor care doresc să înțeleagă de ce mecanismele tradiționale de piață eșuează în protecția consumatorului. Cititorul va câștiga o perspectivă clară asupra modului în care psihologia influențează designul contractual și va descoperi soluții concrete de politici publice pentru a combate exploatarea prejudecăților cognitive. Este un ghid de supraviețuire intelectuală într-o lume a contractelor „cu litere mici”.

Despre autor

Oren Bar-Gill este un distins specialist în drept și economie, profesor la Harvard Law School, recunoscut pentru cercetările sale de pionierat în analiza comportamentală a dreptului contractelor. Expertiza sa se concentrează pe intersecția dintre psihologia consumatorului și dinamica piețelor competitive. În lucrările sale, precum Algorithmic Harm, acesta explorează modul în care noile tehnologii și structurile juridice pot fie să ajute, fie să prejudicieze consumatorul, fiind o voce autoritară în dezbaterea privind reglementarea modernă a piețelor de consum.

Descriere

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. Competition does not help this behavioural market failure. It may even exacerbate it. Sellers, operating in a competitive market, have no choice but to align contract design with the psychology of consumers. A high-road seller who offers what she knows to be the best contract will lose business to the low-road seller who offers what the consumer mistakenly believes to be the best contract. Put bluntly, competition forces sellers to exploit the biases and misperceptions of their customers. Seduction by Contract argues that better legal policy can help consumers and enhance market efficiency. Disclosure mandates provide a promising avenue for regulatory intervention. Simple, aggregate disclosures can help consumers make better choices. Comprehensive disclosures can facilitate the work of intermediaries, enabling them to better advise consumers. Effective disclosure would expose the seductive nature of consumer contracts and, as a result, reduce sellers' incentives to write inefficient contracts. Developing its explanation through a general framework and detailed case studies of three major consumer markets (credit cards, mortgages, and cell phones), Seduction by Contract is an accessible introduction to the law and economics of consumer contracts, and a powerful critique of current regulatory policy.

Recenzii

What makes Bar-Gills argument both fresh and impressive is its detailed exploration of actual consumer markets and its careful argument that myopia, unrealistic optimism, and a lack of salience are playing a significant role in those markets.
Exceptionally illuminating and packed with findings and ideas. Seduction By Contract is important reading for those interested in behavioral economics, human behavior, and some of the most important policy debates of the current decade."
Professor Bar-Gill, a pioneer in the injection of psychological realism into economic analysis of law, has written a very timely and very important book on consumer contracts, and specifically on the ominous ingenuity with which modern marketers exploit the incapacity of so many consumers to understand complex contractual terms, especially relating to credit. His book will inform administrative and judicial regulation of consumer contracts.
This book shows why Oren Bar-Gill was the first winner of the American Law Institute's Young Scholars Medal. Economics and psychology are melded to explain legal reforms that would improve the contractual rights of consumers who obtain credit cards, mortgages, or cell phones. This is first-class legal scholarship that can influence public policy.
As Oren Bar-Gill's designated rational choice "nemesis," I applaud his ambitious efforts to account for the role of human error in the full range of consumer transactions. His bold claim that product and service providers, even in competitive markets, are able to manipulate the terms of standard form contracts to their private advantage, if sustainable, creates a prima facie case for government regulation of these consumer markets. Bar-Gill's work promises to be at the center of a continuing debate of national importance.
Oren Bar-Gill argues that consumer contracts are often both inefficient and exploitative in predictable ways, and illustrates with case studies. The claim is provocative but plausible, and the analysis addresses many of an economist's follow-on questions. I look forward to teaching from this book.

Notă biografică

Oren Bar-Gill is a Professor of Law and co-Director of the Center for Law, Economics and Organization at the New York University School of Law. Bar-Gill joined the NYU faculty in January 2005 from Harvard University, where he was a Fellow at the Society of Fellows, as well as an Olin Fellow at Harvard Law School. Bar-Gill holds a B.A. (economics), LL.B., M.A. (law & economics), and Ph.D. (economics) from Tel-Aviv University, as well as an LL.M. and S.J.D. from Harvard Law School.Bar-Gill's scholarship focuses on the law and economics of contracts. His more than 30 articles have been published in leading law reviews and peer-reviewed journals. In 2011, Bar-Gill's work on consumer contracts was recognized by the American Law Institute, which awarded him its inaugural Young Scholar Medal. Bar-Gill is currently a co-Reporter for the American Law Institute's project on the Law of Consumer Contracts. Bar-Gill is a member of the Board of Directors of the American Law and Economics Association. He advises both government agencies and private sector parties on issues pertaining to consumer contracts and consumer protection.