This chapter surveys the literature on behavioral industrial organization, covering four broad
topics:(1) how rational firms interact with consumers who make systematic mistakes in …

Objective: to elaborate the conceptual theoretical-legal provisions and scientific
recommendations for the substantiating the inefficiency of mandated disclosure. Methods …

While traditional finance focuses on the tools used to optimize return and minimize risk, this
book explains how psychology can affect our decisions more than financial theory. Covering …

In cross-sectional data sets from ten credit markets, we find that middle-aged adults borrow
at lower interest rates and pay fewer fees relative to younger and older adults. Fee and …

In recent years, scholars and policymakers have rediscovered the concept of industrial
districts-spatial concentrations offirms in the same industry or related industries. In this …

Perhaps no kind of regulation is more common or less useful than mandated disclosure—
requiring one party to a transaction to give the other information. It is the iTunes terms you …

We analyze contract choices, loan-repayment behavior, and welfare in a model of a
competitive credit market when borrowers have a taste for immediate gratification …

This Article explains the historic US housing bubble. From 1997 to 2006, nominal US
housing prices rose 188%.'By mid-2009, however, housing prices had fallen by 33% from …

Following his timely and well-received A Failure of Capitalism, Richard Posner steps back to
take a longer view of the continuing crisis of democratic capitalism as the American and …

Examples of financial mistakes made by consumers lend support to the view that systematic
mistakes of consumers exist in the EU credit market and that service providers respond …