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Consumer Protection and the Role of Advice in the Market for Retail Financial Services

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  • Roman Inderst

Abstract

This paper offers a review of key stylized facts of the market for retail financial services. Financial advice plays a key role in this market. The paper then discusses the relevant academic literature and, in particular, recent contributions that deal with the role of advice in this market. Various policy options are discussed as well.

Suggested Citation

  • Roman Inderst, 2011. "Consumer Protection and the Role of Advice in the Market for Retail Financial Services," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 167(1), pages 4-21, March.
    • Handle: RePEc:mhr:jinste:urn:sici:0932-4569(201103)167:1_4:cpatro_2.0.tx_2-g
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    Citations

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    Cited by:

    1. Mark Browne & Christian Knoller & Andreas Richter, 2015. "Behavioral bias and the demand for bicycle and flood insurance," Journal of Risk and Uncertainty, Springer, vol. 50(2), pages 141-160, April.
    2. Mikuláš Sidak & Andrea Slezáková & Edita Hajnišová & Stanislav Filip, 2023. "Determination of Public Supervision Aspects and Legal Pillars of Activities of Financial Agents in Central European Countries," Administrative Sciences, MDPI, vol. 13(3), pages 1-19, March.
    3. Raccanello, Kristiano & Romero-García, David Arturo & Aceves-Medina, Juan Sebastián, 2015. "Falta de transparencia y arrepentimiento del consumidor," eseconomía, Escuela Superior de Economía, Instituto Politécnico Nacional, vol. 0(42), pages 7-32, primer se.
    4. Thomas Ackermann, 2011. "Consumer Protection and the Role of Advice in the Market for Retail Financial Services," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 167(1), pages 22-25, March.
    5. Thomas Köhne & Christoph Brömmelmeyer, 2018. "The New Insurance Distribution Regulation in the EU—A Critical Assessment from a Legal and Economic Perspective," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 43(4), pages 704-739, October.
    6. Wolfgang Kerber, 2014. "Soft Paternalismus und Verbraucherpolitik," MAGKS Papers on Economics 201449, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    7. Christian Laux, 2011. "Consumer Protection and the Role of Advice in the Market for Retail Financial Services," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 167(1), pages 26-29, March.
    8. Sascha Behnk & Iván Barreda-Tarrazona & Aurora García-Gallego, 2012. "Reducing deception through subsequent transparency - An experimental investigation," Working Papers 2012/14, Economics Department, Universitat Jaume I, Castellón (Spain).

    More about this item

    JEL classification:

    • D1 - Microeconomics - - Household Behavior

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