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Europäischer Verbraucherschutz – Ausdruck grenzenloser Regulierungswut oder sinnvoller Schutz für Käufer? Erkenntnisse aus einem Laborexperiment

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  • Roland Kirstein
  • Annette Kirstein

Abstract

The paper uses the results of a lemons market experiment to derive economic policy implications regarding the EU regulation on consumer protection. The two lemons market designs tested in the experiment differed with respect to the risk of purchasing bad quality which the uninformed consumers had to bear. In the high-risk market, but not in the low-risk market, consumers have suffered expected losses. This empirical result may justify a paternalistic regulation that makes warranties mandatory.

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File URL: http://www.bepress.com/cgi/viewcontent.cgi?article=1160&context=gwp
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Bibliographic Info

Paper provided by Berkeley Electronic Press in its series German Working Papers in Law and Economics with number 2006-1-1160.

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Handle: RePEc:bep:dewple:2006-1-1160

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Web page: http://www.bepress.com/gwp/default/

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  1. Costa-Gomes, Miguel & Crawford, Vincent P. & Broseta, Bruno, 1998. "Cognition and Behavior in Normal-Form Games: An Experimental Study," University of California at San Diego, Economics Working Paper Series qt1vn4h7x5, Department of Economics, UC San Diego.
  2. Spence, A Michael, 1977. "Consumer Misperceptions, Product Failure and Producer Liability," Review of Economic Studies, Wiley Blackwell, vol. 44(3), pages 561-72, October.
  3. Kirstein, Roland & Schäfer, Hans-Bernd, 2006. "Erzeugt der Europäische Verbraucherschutz Marktversagen? Eine informationsökonomische und empirische Analyse," CSLE Discussion Paper Series 2006-07, Saarland University, CSLE - Center for the Study of Law and Economics.
  4. Kirstein, Annette & Kirstein, Roland, 2004. "Less Rationality, More Efficiency: a Laboratory Experiment on "Lemon" Markets," CSLE Discussion Paper Series 2004-02, Saarland University, CSLE - Center for the Study of Law and Economics.
  5. Heal, Geoffrey, 1977. "Guarantees and Risk-Sharing," Review of Economic Studies, Wiley Blackwell, vol. 44(3), pages 549-60, October.
  6. Nancy A. Lutz & V. Padmanabhan, 1995. "Why Do We Observe Minimal Warranties?," Marketing Science, INFORMS, vol. 14(4), pages 417-441.
  7. Spence, A Michael, 1973. "Job Market Signaling," The Quarterly Journal of Economics, MIT Press, vol. 87(3), pages 355-74, August.
  8. Heal, Geoffrey, 1976. "Do Bad Products Drive Out Good?," The Quarterly Journal of Economics, MIT Press, vol. 90(3), pages 499-502, August.
  9. Thomas Eger, . "Einige ökonomische Aspekte der Europäischen Verbrauchsgüterkauf - Richtlinie und ihrer Umsetzung in deutsches Recht," German Working Papers in Law and Economics 2002-1-1032, Berkeley Electronic Press.
  10. Juergen Noll, 2003. "Does One Size Fit All? A Note on the Harmonization of National Warranty Law as a Tool of Consumer Protection," European Journal of Law and Economics, Springer, vol. 16(2), pages 219-231, September.
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