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When Competition is Not Enough: Consumer Protection

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  • Rhonda L. Smith

Abstract

Rather than market structure, it is the nature of the goods and services and the cost of obtaining and processing information that may place consumers in a poor bargaining position. The article outlines the key provisions for consumer protection in Australia, Part V of the Trade Practices Act. It discusses search costs, and the factors that limit search, and explains how the conduct of suppliers (or others) may reduce search costs. Asymmetry of information is identified as a necessary (but not sufficient) condition for misleading consumers. When products are sub standard or are used incorrectly, they may harm consumers or cause property damage and in some circumstances this may be best addressed via product liability laws. The article concludes by considering how firms or industries can be more pro‐active in relation to consumer protection.

Suggested Citation

  • Rhonda L. Smith, 2000. "When Competition is Not Enough: Consumer Protection," Australian Economic Papers, Wiley Blackwell, vol. 39(4), pages 408-425, December.
    • Handle: RePEc:bla:ausecp:v:39:y:2000:i:4:p:408-425
    DOI: 10.1111/1467-8454.00101
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    Cited by:

    1. Damien S Eldridge, 2007. "A Shirking Theory of Referrals," Working Papers 2007.05, School of Economics, La Trobe University.
    2. David K. Round & Zeljka Sporer, 2003. "Globalisation and Consumer Protection in East Asia: is it a zero sum game?," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 17(2), pages 39-50, November.
    3. Lacaze, María Victoria, 2009. "Las preferencias de los consumidores argentinos por alimentos diferenciados por atributos de calidad de procesos: el caso de la leche entera orgánica," Nülan. Deposited Documents 378, Universidad Nacional de Mar del Plata, Facultad de Ciencias Económicas y Sociales, Centro de Documentación.
    4. Mwakatumbula, Hilda J. & Moshi, GoodielC. & Mitomo, Hitoshi, 2015. "Consumer Awareness And Protection In Telecommunication Markets: Case Of Tanzania; Determinant Of Consumers’ Knowledge On Their Rights," 26th European Regional ITS Conference, Madrid 2015 127161, International Telecommunications Society (ITS).
    5. Rafael López Zorzano & Teodosio Pérez-Amaral & Teresa Garín-Muñoz & Covadonga Gijón Tascón, 2012. "Customer Service Quality and Incomplete Information in Mobile Telecommunications: A Game Theoretical Approach to Consumer Protection," Documentos de Trabajo del ICAE 2012-23, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Instituto Complutense de Análisis Económico.

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