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| Author: | Boom, W.H. van |
| Title: | Price intransparency, consumer decision making and European consumer law |
| Journal: | Journal of Consumer Policy
2011 : SEP, VOL. 34:3, p. 359-376 |
| Index terms: | consumers decision making consumer law prices pricing Europe |
| Language: | eng |
| Abstract: | This article combines behavioural science insights with a legal analysis of European consumer law to chart some of the harmful influences of price intransparency on the consumer decision making process. Moreover, it is aimed at answering whether and to what extent European consumer law addresses these issues. A basic element of competition is price comparison. There is the need for price transparency for comparison to work. In addition, price is usually a focal point in consumer thinking and deciding on transactions. Thus, complicating of prices can be harmful to consumers. That's why, it is important for policymakers to know how transparent the pricing really is. Legislative intervention to ensure price transparency is sometimes justified. In order to influence consumers, suppliers may disclose and frame pricing information. |
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