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Seduction by Contract
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Seduction by Contract: Law, Economics, and Psychology in Consumer Markets

Oren Bar-Gill

Abstract

Consumers routinely enter into long-term contracts with providers of goods and services — from credit cards, mortgages, mobile phones, insurance, TV, and internet services to household appliances, events, health clubs, magazines, and transportation. Across these consumer markets certain design features of contracts are recurrent, and puzzling. Why do sellers design contracts to provide short-term benefits and impose long-term costs? Why are low introductory prices so common? Why are the contracts themselves so complex, with numerous fees and interest rates, tariffs, and penalties? This book ex ... More

Keywords: consumer markets, contracts, long-term costs, short-term benefits, fees, interest rates, tariffs, consumer psychology, market forces, perceived benefits

Bibliographic Information

Print publication date: 2012 Print ISBN-13: 9780199663361
Published to Oxford Scholarship Online: September 2012 DOI:10.1093/acprof:oso/9780199663361.001.0001

Authors

Affiliations are at time of print publication.

Oren Bar-Gill, author
Professor of Law and co-Director of the Center for Law, Economics and Organization, New York University School of Law

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