haku: @indexterm consumer law / yhteensä: 24
viite: 20 / 24
| Tekijä: | Rekaiti, P. Bergh, R. van den |
| Otsikko: | Cooling-Off Periods in the Consumer Laws of the EC Member States. A Comparative Law and Economics Approach |
| Lehti: | Journal of Consumer Policy
2000 : VOL. 23:4, p. 371-407 |
| Asiasana: | CUSTOMERS CONSUMER LAW ECONOMICS |
| Kieli: | eng |
| Tiivistelmä: | This article takes a different approach and argues that cooling-off periods can be seen as efficiency-enhancing devices. From an economic point of view, cooling-off periods provide a remedy for irrational behaviour on the part of consumers and may cure market failures, in particular problems caused by situational monopolies and asymmetric information. In spite of these important benefits, the economic approach also warns against possible disadvantages. The latter range from a moral hazard problem on the side of the consumer to the adverse counter- productive effects of cooling-off periods. A legislator who is informed by economic analysis may design cooling-off periods in ways that maximise their ability to cure inefficiencies and at the same time minimise their potential detrimental effects. |
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