Insurance guarantee schemes aim to protect policyholders from the costs of insurer insolvencies. However, guarantee schemes can also reduce insurers' incentives to conduct appropriate risk management. We investigate stock insurers' risk-shifting behavior for insurance guarantee schemes under the...

Whether consumers are aware of potentially adverse product effects is key to private and social incentives to disclose information about undesirable product characteristics. In a monopoly model with a mix of aware and unaware consumers, a larger share of unaware consumers makes information...

Contributing to the literature on the consequences of behavioral biases for market outcomes and institutional design, we contrast producer liability and minimum quality standard regulation as alternative means of social control of product-related torts when consumers are heterogeneously...

Firms sometimes know more about a consumer's expected usage than the consumer herself. We explore the consequences of this reversal in the information asymmetry. We analyze the consequences of making consumers more informed about themselves. While making consumers more informed decreases their...

The central economic justification for competition law is that the protection of competition promotes welfare. In particular, perfect competition among firms catering to consumer demand for goods and services maximizes social welfare by generating both allocative and productive efficiencies....

Recently, EU Consumer law has undergone a ‘Fitness Check' (or REFIT). We thought that checking the fitness for purpose of a body of law would involve revisiting its purpose. This is why we expected to find in the rich REFIT documentation (over 4000 pages of studies and Commission documents) an...

Social commerce represented at least $14 billion dollars in 2015, steadily increasing from previous years. A survey by Statista showed that 65.4% of US users had used a social media platform to make purchase directly through a post in 2017. As the size of social media worldwide continues to...