This paper focuses on a major difference between markets for physical goods and for services. It is argued that dishonest sellers of physical goods are eventually identified and forced to leave the market. In contrast, dishonest sellers of services can effectively mimic honest competitors and...

This Article provides a case study of the regulation of consumer finance and the role of consumer bankruptcy or insolvency law in the context of an emerging economy. Like other emerging economies, India is currently attempting a daunting regulatory balancing act: to promote the continued...

Some food items that are commonly considered unhealthy also tend to elicit impulsive responses. The pain of paying in cash can curb impulsive urges to purchase such unhealthy food products. Credit card payments, in contrast, are relatively painless and weaken impulse control. Consequently,...

• After four decades, the financial planning profession still lacks an overarching framework for organizing and testing the strategy-making (i.e. "planning") activities of its practitioners.• An integrating framework is proposed that consists of five modes of strategy-making: planner-driven,...

This Chapter discusses the emergence of online word of mouth, the process by which consumers disseminate their views about marketplace goods and services. Due to online word of mouth, consumers have an unprecedented ability to influence the brand perceptions of other consumers. Unfortunately,...

Stakeholder groups have different interests in health claims which may be complementary but also conflicting. It is not clear on beforehand, how managers should deal with legal requirements on claims. Nor is it clear how legal authorities can adjust the present claims regime to address market,...

An intuitive and popular belief is that we steadily improve our decision-making over time by learning from experience. This is a myth because learning from experience is quite complex and difficult due to many reasons. One reason is that we routinely engage in mental time travel by anticipating...

Despite reports that homeowners are increasingly “walking away” from their mortgages, most homeowners continue to make their payments even when they are significantly underwater. This article suggests that most homeowners choose not to strategically default as a result of two emotional...

Intermediaries, like real estate agents, Consumer Reports, and Zagats, have long helped buyers to identify their most suitable options. Now, the combination of databases and the Internet enables them to serve consumers dramatically more effectively. This article begins by offering a three-part...