Year: 2014
Type: book-chapter
Abstract: Introduction: from homo economicus to homo behaviouralis?In most countries consumer protection policies have been designed and implemented on the basis of an explicit or implicit assumption that the average consumer is rational and that more information leads to better decision making, which in turn increases consumer welfare.This approach assumes that consumers are willing, and competent to deal with the information provided, to take informed rational decisions and to pursue their information-based rights.For example, in rulings about unfair commercial practices (as defined by Directive 2005/29/EC), the European court of Justice made use of a concept of the average consumer that is substantially biased towards Homo Economicus (Trzaskowski, 2011).
Language: English
Subfield: General Decision Sciences
Field: Decision Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2947594066