market rationality

Seduction by contract

In this accessible and well-structured book Bar-Gill takes a close look at the credit card, mortgage, and cell-phone markets. He shows why contracts in these markets look the way they do, what is wrong with them, and what the law can do to help. Providing a dearth of examples Bar-Gill shows in a detailed analysis how in these three markets externalities, asymmetric information, and misperception lead to biased estimates on the part of customers.

Subscribe to RSS - market rationality