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Protecting Competition to Protect Consumers ACCC

Protecting Competition to Protect Consumers ACCC

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Published by Joshua Gans
Joshua Gans "‘Protecting Competition to Protect Consumers’ Does Behavioural Economics Support this Contention?" ACCC Workshop on Consumer Protection, March, 2005
Joshua Gans "‘Protecting Competition to Protect Consumers’ Does Behavioural Economics Support this Contention?" ACCC Workshop on Consumer Protection, March, 2005

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Published by: Joshua Gans on Jan 18, 2010
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01/24/2010

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‘Protecting Competition to ProtectConsumers’
Does Behavioural Economics Support this Contention?Joshua GansUniversity of Melbourne
 
The contention
If consumers can be exploited (i.e., pay for goods they don’t value enough), won’t marketforces fix this?
If there is competition, there will be at leastsome suppliers who will find it profitable toactually supply consumers with products theyvalue.
So competition protects consumers
 
The issue …
Today, Stephen gets asked to give a talk onregulation on the 18
th
July and happilyaccepts.
On the 11
th
July, Stephen wishes he coulddefer giving the talk even though nothing haschanged.
This lack of self control is common.

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