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

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Author Info
Roland Kirstein
Annette Kirstein

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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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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

Note: oai:bepress:gwp-1160
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  1. Roland Kirstein & Annette Kirstein, . "Less Rationality, More Efficiency: a Laboratory Experiment on "Lemons" Markets," German Working Papers in Law and Economics 2005-1-1125, Berkeley Electronic Press. [Downloadable!]
  2. Roland Kirstein & Hans-Bernd Schäfer, . "Erzeugt der Europäische Verbraucherschutz Marktversagen? Eine informationsökonomische und empirische Analyse," German Working Papers in Law and Economics 2007-1-1172, Berkeley Electronic Press. [Downloadable!]
  3. Heal, Geoffrey, 1976. "Do Bad Products Drive Out Good?," The Quarterly Journal of Economics, MIT Press, vol. 90(3), pages 499-502, August. [Downloadable!] (restricted)
  4. Heal, Geoffrey, 1977. "Guarantees and Risk-Sharing," Review of Economic Studies, Blackwell Publishing, vol. 44(3), pages 549-60, October. [Downloadable!] (restricted)
  5. Spence, A Michael, 1973. "Job Market Signaling," The Quarterly Journal of Economics, MIT Press, vol. 87(3), pages 355-74, August. [Downloadable!] (restricted)
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