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Full-Text Articles in Law
The Law, Marketing And Behavioral Economics Of Consumer Rebates, Matthew A. Edwards
The Law, Marketing And Behavioral Economics Of Consumer Rebates, Matthew A. Edwards
ExpressO
This paper deals with mail-in consumer rebates — a significant, yet controversial marketing practices that has generated thousands of consumer complaints, inspired countless articles in major periodicals, and begun to attract the interest of state and federal legislators. The paper first aims to provide an understanding of the purposes of consumer rebate offerings. It then surveys the main categories of consumer rebate complaints, including that firms impose onerous rebate redemption requirements and that they fail to pay rebate rewards in a timely manner. The paper draws on recent marketing, psychological and behavioral economics research to address the potent claim that …
Valuing Cultural Differences In Behavioral Economics, Justin D. Levinson, Kaiping Peng
Valuing Cultural Differences In Behavioral Economics, Justin D. Levinson, Kaiping Peng
ExpressO
Behavioral economic research has tended to ignore the role of cultural differences in economic decision-making. The authors suggest that a systematic bias affects existing behavioral economic theory-- cognitive biases are often assumed to be universal. To examine how cultural background informs economic decision-making, and to test framing effects, morality effects, and out-group effects in a cross-cultural study, the authors conducted an experiment in the United States and China. The experiment was designed to test cultural and cognitive effects on a fundamental economic phenomenon-- how people estimate the financial values of objects over time.
Results of the experiment demonstrated dramatic cultural …
Law And Emotion: A Proposed Taxonomy Of An Emerging Field Special Edition, Terry A. Maroney
Law And Emotion: A Proposed Taxonomy Of An Emerging Field Special Edition, Terry A. Maroney
Vanderbilt Law School Faculty Publications
Many scholars - from fields as diverse as psychology, law, philosophy, and neuroscience - have begun to study the intersection of emotion and law. I describe that scholarship's development; propose that it is organized along six interrelated but theoretically distinct foci; and suggest directions for future research.
The notion that reason and emotion are cleanly separable - and that law admits only of the former - is deeply engrained, though it recently has come under attack. Law and emotion scholarship proceeds from the beliefs that emotion may be specifically studied, that it is relevant to law, and that its legal …
The Promise (And Limits) Of Neuroeconomics, Jedediah S. Purdy
The Promise (And Limits) Of Neuroeconomics, Jedediah S. Purdy
Faculty Scholarship
Neuroeconomics — the study of brain activity in people engaged in tasks of reasoning and choice — looks set to be the next behavioral economics: a set of findings about how people make decisions that casts both light and doubt on widely accepted premises about rationality and social life. This Article explains what is most exciting about the new field and lays out some specific research tasks for it.
"Contracting" For Credit, Ronald J. Mann
"Contracting" For Credit, Ronald J. Mann
Faculty Scholarship
On a recent day, I used my credit cards in connection with a number of minor transactions. I made eight purchases, and I paid two credit card bills. I also discarded (without opening) three solicitations for new cards, balance transfer programs, or other similar offers to extend credit via a credit card. Statistics suggest that I am not atypical. U.S. consumers last year used credit cards in about 100 purchasing transactions per capita, with an average value of about $70. At the end of the year, Americans owed nearly $500 billion dollars, in the range of $1,800 for every man, …