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Consumer Theories of Harm: An Economic Approach to Consumer Law Enforcement and Policy Making

Consumer Theories of Harm: An Economic Approach to Consumer Law Enforcement and Policy Making

Author: Paolo Siciliani; Christine Riefa; Harriet Gamper
Publisher: Hart Publishing
ISBN: 9781509951963

Published In: April 2021
Format: Paperback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only
Hardback Edition ISBN: 9781509916856

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It has long been thought that fairness in European Consumer Law would be achieved by relying on information as a remedy and expecting the average consumer to keep businesses in check by voting with their feet. This monograph argues that the way consumer law operates today promises a lot but does not deliver enough. It struggles to avoid harm being caused to consumers and it struggles to repair the harm after the event. To achieve fairness, solutions need to be found elsewhere.

Consumer Theories of Harm offers an alternative model to assess where and how consumer detriment may occur and solutions to prevent it. It shows that a more confident use of economic theory will allow practitioners to demonstrate how a poor standard of professional diligence lies at the heart of consumer harm. The book provides both theoretical and practical examples of how to combine existing law with economic theory to improve case outcomes. The book shows how public enforcers can move beyond the dominant transparency paradigm to an approach where firms have a positive duty to treat consumers fairly and shape their commercial offers in a way that prevents consumers from making mistakes. Over time, this 'fairness-by-design' approach will emerge as the only acceptable way to compete.

1. Introduction

I. The Search for Fairness

II. Origins of Theories of Harm in Competition Law

III. Using Theories of Harm in Consumer Law – A Natural Evolution

IV. Harnessing the Use of Economics in Consumer Law

V. Contents

2. The Limitations of Consumer Law in Tackling Consumer Harm

I. Introduction

II. Limitations in the Use of Information as a Mainstream Transparency Approach

III. Limitations of the Definition of the 'Average Consumer' Used as a Reference Point for Protection

IV. Implementation of the 'Average Consumer' Standard under the Unfair Commercial Practices Legislation

V. Protecting 'Vulnerable' and 'Disengaged' Consumers