Research Programs
More
What are you looking for?
Showing 3 of 111 Results in Payments & Payment Networks
TOTM After receiving the page proofs last week, I’m posting “Behavioral Law and Economics, Paternalism, and Consumer Contracts: An Empirical Perspective” to SSRN. I wrote this . . .
After receiving the page proofs last week, I’m posting “Behavioral Law and Economics, Paternalism, and Consumer Contracts: An Empirical Perspective” to SSRN. I wrote this paper for last year’s NYU Journal of Law & Liberty Symposium on Behavioral Economics™ Challenge to the Classical Liberal Program. The basic idea of the paper is an evaluation of the empirical evidence concerning behavioral and neoclassical theoretical predictions in a few settings where behavioral anomalies are frequently argued to justify paternalistic measures: credit cards, standard form contracts, and shelf space contracts.
Read the full piece here.
TOTM WSJ has a fascinating story this morning about a group of restaurants in Utah, Washington, Colorado and other places adopting a completely voluntary pricing system. . . .
WSJ has a fascinating story this morning about a group of restaurants in Utah, Washington, Colorado and other places adopting a completely voluntary pricing system. No registers. No prices. No “suggested” prices and no tips. The business model is essentially to provide food and allow customers to put whatever they want in a lock box at the front of the store. This is similar to the former economist turned Bagel Man in Freakonomics who delivered bagels to DC area offices on a quasi-honor system.
TOTM Elizabeth Warren (Credit Slips) points to an interesting empirical study by Agarwal, Liu, Souleses, and Chomsisengphet (“ALSC”) which examines consumer credit card selection in a . . .
Elizabeth Warren (Credit Slips) points to an interesting empirical study by Agarwal, Liu, Souleses, and Chomsisengphet (“ALSC”) which examines consumer credit card selection in a natural experiment setting in which a card company offers two cards to consumers: (1) a high interest rate, no annual fee card and (2) a low rate card with an annual fee.
