Rona-Tas, Akos; Guseva, Alya - In: Journal of Comparative Economics 41 (2013) 2, pp. 420-435
We present a critique of Behavioral Economics, the dominant approach to reforming the regulation of retail credit, and propose a new approach to managing uncertainty in consumer lending. This new approach draws on a different model of decision-making, Distributed Cognition, to improve contract...