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DO SOME FINANCIAL PRODUCT FEATURES NEGATIVELY AFFECT CONSUMER DECISIONS? A REVIEW OF EVIDENCE. ESRI RESEARCH SERIES NUMBER 78 SEPTEMBER 2018

Lunn, Pete and McGowan, Féidhlim and Howard, Noel (2018) DO SOME FINANCIAL PRODUCT FEATURES NEGATIVELY AFFECT CONSUMER DECISIONS? A REVIEW OF EVIDENCE. ESRI RESEARCH SERIES NUMBER 78 SEPTEMBER 2018. UNSPECIFIED.

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    Abstract

    This paper reviews international evidence on consumer decision-making in retail financial markets. Specifically, we identify and evaluate research from multiple disciplines and methods that links specific features of products to the quality of consumer decisions. The notion of product ‘features’ is broadly defined to include not only product attributes, but also emergent properties such as product complexity and the salience of information disclosure. We document areas of concern from a consumer protection perspective, and describe some common themes, including the inability of consumers to consider all important attributes and whether they can easily discern how the provider is making its profit. We conclude that there is a case for closer integration of empirical evidence and financial regulation.

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    Item Type: Other
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > consumer protection policy
    Countries > Ireland
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Economic and Social Research Institute (ESRI), Dublin > ESRI Research Series
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 26 Dec 2019 19:27
    Number of Pages: 86
    Last Modified: 26 Dec 2019 19:27
    URI: http://aei.pitt.edu/id/eprint/102138

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