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Can Cost-Benefit Analysis Help Consumer Protection Laws? Or At Least Benefit Analysis?, Jeff Sovern
Can Cost-Benefit Analysis Help Consumer Protection Laws? Or At Least Benefit Analysis?, Jeff Sovern
Faculty Publications
Cost-benefit analysis is often troubling to consumer advocates. But this Article argues that in some circumstances it may help consumers. The Article gives several examples of supposed consumer protections that have protected consumers poorly, if at all. It also argues that before adopting consumer protections, lawmakers should first attempt to determine whether the protections will work. The Article suggests that because lawmakers are unlikely to adopt multiple solutions to the same problem, one cost of ineffective consumer protections is a kind of opportunity cost, in that ineffective consumer protections might appear to make adoption of effective ones unnecessary. Ironically, such …
Arbitration And The Contract Exchange, Andrew A. Schwartz
Arbitration And The Contract Exchange, Andrew A. Schwartz
Publications
A contract exchange, defined as an organized marketplace for the creation or trading of specific contracts, provides benefits to its members as well as the public at large. But legal disputes can arise on contract exchanges, just as they do anywhere else, and those disputes can be litigated, mediated, arbitrated, or resolved in some other way. This Essay claims that arbitration, rather than litigation, is a particularly useful and appropriate means for resolving exchange-related disputes, and that this is true not only for traditional contract exchanges, like the Chicago Board of Trade, but also for online "consumer contract exchanges," such …