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| Author: | Spindler, G. |
| Title: | Behavioural finance and investor protection regulations |
| Journal: | Journal of Consumer Policy
2011 : SEP, VOL. 34:3, p. 315-336 |
| Index terms: | financial crises investments consultancy clients investor protection law courts information Europe |
| Language: | eng |
| Abstract: | This article deals with behavioural (henceforth as: beh-al.) assumptions in legal norms, especially as to investor protection norms in Europe and Germany, and court rulings, as well. While traditional legal norms being based on the 'rationale behaviour' assumption, the financial crisis has shown the pitfalls of the classical notions of economics (here as: econs.), hence leading to new views on beh-al. econs. Yet, it is not clear how beh-al. econs. may serve as a means to improve investors' legal protection. In the future, either a strong paternalism or a simple extension of information obligation may not be sufficient. |
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