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Mental Budget: Inefficient Clauses Or Consumer Choices?, Enrico Baffi
Mental Budget: Inefficient Clauses Or Consumer Choices?, Enrico Baffi
enrico baffi
In this paper I aim to demonstrate that due the phenomenon of consumer mental accounting, it's not possible to consider money as fungible. Consumers decide to spend a certain amount of money for a kind of good and they are not willing to take some extra money from the jars that contain the money to spend for other goods. But consumers seem to have a sort of reserve which encompass efforts, time, and the possibility to bear risk that they use to save money and obtain a lower price for a good. To explain, a good can be delivered at …
Mental Budget And Inefficient Clauses: A Lesson From Behavioral Law Nand Economics, Enrico Baffi
Mental Budget And Inefficient Clauses: A Lesson From Behavioral Law Nand Economics, Enrico Baffi
enrico baffi
This paper is an attempt to highlight how clauses, which are traditionally considered to be inefficient, may actually be desired by consumers. This anomaly originates in the fact that each individual builds a mental budget by dividing the money he has among the needs he intends to satisfy. According to consumers’ reasoning, money is not fungible, in the sense that amounts cannot be transferred from one expenditure to another. Consumers who behave in this way may sometimes find that they have depleted the amount they budgeted for an item while wanting to buy more of it. Since additional time, efforts …
Privacy And Data Protection In Business: Laws And Practices (Sample Chapters), Jonathan I. Ezor
Privacy And Data Protection In Business: Laws And Practices (Sample Chapters), Jonathan I. Ezor
Jonathan I. Ezor
In the fields of digital privacy and data protection in the business world, effective compliance and risk management require not only knowledge of applicable laws and regulations, but at least a basic understanding of relevant technologies and the processes of the company or other organization that is collecting and/or using the personal information or monitoring behavior. This book is structured to provide a framework for law and other students to both learn the law and place it in the necessary technological and practical context, divided into topic areas such as children’s privacy, health information, governmental requirements, employee data and more. …